Maryland renews and expands 3 enterprise zones

AP News
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Posted: Dec 24, 2009 9:24 AM

Maryland Gov. Martin O'Malley's administration has approved the expansion and renewal of business enterprise zones in Baltimore city and Allegany and Prince George's counties.

The Department of Business and Economic Development announced the approvals Wednesday.

Businesses in enterprise zones can obtain income tax and property tax credits to help create and retain jobs.

Baltimore's 22,000-acre enterprise zone will grow by nearly 330 acres to include areas such as Liberty Heights and the downtown Morris Mechanic Theater.

Last year, businesses in the state's 28 enterprise zones received $26.3 million in property tax credits. O'Malley says such tax breaks have helped bring nearly $2 billion in capital investment over the past 10 years.