Washington County Designated Tier 1 For New Tax Incentive
More Jobs for Marylanders Act 2017 goes into effect July 1, 2017
HAGERSTOWN, Md. (June 21, 2017) – The Washington County Department of Business Development is pleased to announce that Washington County, Maryland has been designated a Tier 1 for the More Jobs for Marylanders Act by the Maryland Department of Commerce.
New and existing Washington County manufacturing businesses will have the opportunity to take advantage of tax incentives tied to job creation over a 10-year period. The Act encourages additional investment in new equipment through accelerated and bonus depreciation thus freeing up capital more rapidly. Companies can then use this additional capital for upgrading facilities, hiring employees and spurring growth.
Additionally, this Act will strengthen the County’s workforce by providing grants, scholarship and tax credits for workforce training programs.
“Receiving this designation allows our manufacturers to reinvest in the community and increases our resources for attracting more manufacturing companies to Washington County,” said Kassie Lewis, director, DBD. “With this type of incentive, we can rise to the challenges facing our current workforce with confidence and provide resolutions.”
For greater detail on the More Jobs for Marylanders Act and what it means to be Tier 1 click here.
For more information, contact Public Relations and Community Affairs Manager James Jenkins at 240-313-2384.