The EZ program provides real property and state income tax credits for businesses located in a Maryland enterprise zone in return for job creation and investments.
BENEFITS
INCOME TAX CREDITS
- The General Income Tax Credit – The one-time $1,000 tax credit for each qualified new employee filing a newly created position in an enterprise zone, or onetime. $1,500 credit for each qualified new employee in an enterprise zone focus area.
- The Income Tax Credit for Economically Disadvantaged Employees – A three-year period tax credit for each qualified new economically disadvantaged employee, earned at the following amounts: Year 1 - $3,000; Year 2 - $2,000; Year
- $1,000. PROPERTY TAX CREDITS + Real Property Tax Credit – A ten-year tax credit against local real property taxes on a portion of real property expansion, renovation or capital improvement. The amount of credit is 80% of the “eligible assessment”in each of the first 5 years, and the credit decreases 10% annually (70%, 60%, 50%, 40%, 30%) for the subsequent 5 years.
ELIGIBILITY
Business must either (1) make and investment in capital improvements, or (2) hire new employees.
Logistics Drivers
Baltimore’s strategic location on the East Coast has attracted dozens of major e-commerce and bulk goods distributors. The region has access to CSX and Norfolk Southern rail lines, and every terminal at the Port of Baltimore is within one stoplight of an interstate highway.
Baltimore has one of the few East Coast ports capable of handling ships carrying 14,000 twenty-equivalent units (TEUs) or larger. Maryland’s Port of Baltimore has to put into operation four additional supersized, Neo-Panamax container cranes. The cranes are serving the new second deep-water berth. Having an additional deep berth allows the Port to serve multiple supersized cargo ships simultaneously. The new Seagirt berth and cranes complements the CSX-owned Howard Street Tunnel expansion project which will allow for double-stacked container rail cars, clearing a longtime hurdle for the Port and giving the East Coast seamless double-stack capacity from Maine to Florida.. With the tunnel expansion project, Baltimore will be able to send double stacked containers by rail into the Ohio Valley and onto Chicago. The Howard Street Tunnel project got underway in November and is scheduled to be completed in 2025.
Being within the I-95 Corridor gives Baltimore direct highway access to the entire eastern U.S. BWI Airport’s freight transportation business provides an additional mode of transport easily accessible for manufacturers and distributors across the region.
LABOR STATS
Unemployment Rate
4.1%
US Avg 3.7%
Available Labor
19,242
18-59 yr Old Population
18-59 yr Old Population Growth Rate (5 Years)
10.75%
National Avg: 9.1%
Median Age
41
Transportation/Materials Moving (Warehouse Worker)
19,312
8% of labor force and 3rd highest category behind office admin and office management
Production (Manufacturing Jobs)
9,456
3.9% Of Labor Force
DEMOGRAPHIC INFO
Population
469,337
Households
177,233
Avg Household income
$124,575
Within 20 Miles Of 400 & 500 Old Post Road
