MARYLAND INCENTIVES SUMMARY

Economic Development Opportunities Fund
Also known as the Sunny Day Fund, this program supports extraordinary economic development opportunities that create and retain many employment opportunities, particularly in areas of high unemployment. It commands significant capital investments (a minimum of five times the amount of funding). Projects are evaluated competitively and must be consistent with the state's strategic economic development plan.

Advantage Maryland
Advantage Maryland provides grants, loans, and investments to support economic development initiatives, including business attraction and retention, infrastructure support, brownfield redevelopment, arts and entertainment districts, daycare, revolving loan funds, and local strategic planning. Projects must be within Priority Funding Areas and eligible industry sectors. The state awards this incentive on a competitive basis.

Job Creation Tax Credit (JCTC)
Companies creating a minimum of 60 new jobs anywhere in Maryland, or 25 new jobs in a Priority Funding Area, are eligible for an income tax credit of up to $3,000 per new job and up to $5,000 per new job in revitalization areas for jobs that pay at least the prevailing wage if in an employee classification for which there is a prevailing wage, or 150% of the state minimum wage. Total tax credits per project may not exceed $1 million per tax credit year. Unused tax credits may be carried forward for five years. The JCTC requires all new jobs created within 24 months to be maintained for 12 months.

The program is capped at $4 million in tax credits in a calendar year, and remains in effect until January 1, 2022, subject to extension by the Maryland General Assembly.

Enterprise Zone Tax Credit (EZ)
The EZ program provides real property and state income tax credits for businesses in a Maryland enterprise zone for projects creating new jobs and making capital investments. Companies locating in Focus Areas may also be qualified for personal property tax credits on new investments in personal property and enhanced income tax credits for creating new jobs.

One Maryland Tax Credit
The One Maryland tax credit is available to support projects located in the Priority Funding Area and based on the number of new, full-time jobs created in the first 24 months of operation and the amount of capital investment. A tiered approach is used to determine the amount of tax credits, as follows:
- Creation of 10 - 24 new jobs qualifies for a tax credit of up to $1 million based on the amount of eligible capital investment.
- Creation of 25 - 49 new jobs qualifies for a tax credit of up to $2.5 million based on the amount of eligible capital investment.
- Creation of 50 or more new jobs qualifies for a tax credit of up to $5 million based on the amount of eligible capital investment.

Companies may not claim the One Maryland Tax Credit and the Job Creation Tax Credit.