Cecil County Enterprise Zone
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.
Income Tax Credits
The General Income Tax Credit – Is a one-time $1,000 tax credit for each qualified new employee filing a newly created position in an enterprise zone.
BGE Seed Program
The Baltimore Gas and Electric Smart Energy Economic Development (SEED) program will allow qualifying business to invest more of their resources into their own operations by reducing BGE's charges for service extensions and temporarily decreasing energy distribution charges.
BGE'S SEED PROGRAM OFFERS ELIGIBLE COMMERCIAL CUSTOMERS:
- A 25% reduction on electric and natural gas distribution and demand charges for five years
- A 75% discount on service extension costs (for businesses that are located in a Maryland Enterprise Zone).
Foreign Trade Zone #74
FTZ #74 provides economic incentives to companies importing or exporting international goods. Duty-free treatment is accorded to items that are re-exported and duty payment is deferred on items sold in the U.S. market, thus offsetting customs advantages available to overseas producers who compete with producers located in the United States.
If the final product is exported from the United States, no U.S. Customs duty or excise tax is levied.
If, however, the final product is imported into the United States, Customs duty and excise taxes are due only at the time of transfer from the FTZ and formal entry into the United States. The duty paid is the lower of that which is applicable to the product itself or its component parts.
The FTZ #74 is administered by the Baltimore Development Corporation (BDC) and security is handled by Customs and Boarder Protection.Learn More About Foreign Trade Zone #74
Advantage Maryland Program (MEDAAF)
The Advantage Maryland discretionary fund focuses on new job creation and capital expenditure, and is used to make conditional/forgivable loans to assist in the attraction of new businesses to Maryland.
Projects must be within Priority Funding Areas and eligible industry sectors. Bainbridge is within the Priority Funding Area.
Awards are made on a competitive basis by the Maryland Department of Commerce.Learn More About MEDAAF
State Sales and Use Tax Exemption
Bainbridge Logistics tenants can achieve savings of 6% on sales tax for all construction materials, warehousing and manufacturing equipment used or installed within their Premises by utilizing the Maryland State Sales and Use Tax Exemption which has recently been approved exclusively for the Bainbridge development.
The State Comptroller will issue an exemption certificate to be used by Bainbridge tenants upon confirmation of business eligibility.