Finance Programs and Tax Credits for Business

The Boost Loan Fund Program provides access to capital for targeted businesses including small, minority-, women- and veteran-owned businesses in the Baltimore Metro area. The new fund is capitalized by Maryland casino tax revenue and can provide loans from $50,000 to $250,000.

The Advanced Technology Loan Fund provides loans to technology based businesses and businesses acquiring technology equipment. Maximum loan amount is $250,000. Funds may be used to finance the acquisition and improvement of land, buildings, plant and equipment, including new construction or facility expansion.

Business Growth Loans are direct loans or loan guarantees for new or expanding industrial or commercial businesses. Maximum loan amount is $250,000. Funds may be used to finance the acquisition and improvement of land, buildings, plant and equipment, including new construction or facility expansion.

Baltimore County offers loans for qualifying waterfront businesses in Baltimore County. The funds can be used for exterior improvements including: bulkhead repair, slip renovations, signage, landscaping, facade improvements, etc. Funds are available for the lessor of 90 percent of the project cost, or $75,000. Loan terms are seven years with zero percent interest.

Building Improvement Loan Program (BILP) provides up to a $60,000 interest-free loan which can be used for exterior improvements such as awnings, landscaping and signage for businesses in one of 22 Commercial Revitalization Districts. This loan can be combined with other economic development incentives for larger projects. Some minor interior and equipment improvements may also be financed.

Contact us for more information about BILP and to download an application.

Tax Exempt Bond financing is available to manufacturers and 501(c)(3) non-profit organizations. Bond proceeds may be used to finance the acquisition and improvement of land, buildings, plant and equipment, including new construction or facility expansion. Bond financing is available from $2.5 million to a maximum of $10 million.

MIDFA encourages private sector investments with insurance, and the issuance of tax-exempt and taxable revenue bonds. Insurance reduces the lender's credit risk. All projects must be in a Priority Funding Area. While the transaction size is generally not limited, the credit enhancement is subject to the applicable program limits.

Whether contributing intellectual or financial resources, TEDCO qualifies concepts, management teams and the potential market value of entrepreneurial innovation by supporting the enterprises with the greatest potential for success.

PACE offers loans for energy efficient and renewable energy projects for commercial, industrial, agricultural, hospitality, retail and multifamily properties. Loans are provided by private lenders and repaid as a long-term surcharge on the real property tax bill. The surcharge stays with the property upon change in ownership.

The County participates in the statewide MD-PACE program, administered by PACE Financial Servicing. Commercial property owners, contractors and lenders may visit the MD-PACE website or call the Maryland Clean Energy Center at 443-949-8505.

Enterprise zones are intended to encourage investment in distressed areas. Tax credits are available to help new companies invest in property and create jobs, and to assist existing businesses expand and grow.

Baltimore County offers both employment and real property tax credits for businesses located within any of our enterprise zones. The real property credit offers a 10-year reduction on property taxes after major capital improvements are made. The income credit allows businesses a one-time state income tax deduction after creating new jobs.

Verify the eligibility of an address by using the interactive map. Detailed maps of Baltimore County’s enterprise zones are available for download:

• Chesapeake
• Southwest
• Woodlawn

For more details about the tax credit, please see our Baltimore County enterprise zone information sheet.

To apply for enterprise zone tax credits, complete and submit an enterprise zone application.

Baltimore County's Commercial Revitalization Districts are "front doors" to our desired established communities. Family-owned business and national retail chains are neighbors, offering shopping and entertainment experiences throughout the County.

Businesses located in designated districts are offered incentives including:

• Real Estate Improvement Projects: Real property tax credit for major improvements.
• Building Improvement Loan Program (BILP): Interest-free loan up to $30,000 for façade improvements.
• Architect on Call: Free architectural design services are available for facade improvements such as awnings, landscaping and signage.

All applicants are required to meet with staff prior to submitting applications. To schedule a meeting, email businesshelp@baltimorecountymd.gov.

The Baltimore County Brownfields Tax Credit is available to properties that have gone through the Maryland Voluntary Cleanup Program and received a formal designation by the Maryland Department of Commerce as a "Qualified Brownfields Site.” To apply for the credit, please email businesshelp@baltimorecountymd.gov.

The Historically Underutilized Business Zones (HUBZone) program helps small businesses in urban and rural communities gain preferential access to federal procurement opportunities. To participate in the HUBZone program, request certification through the U.S. Small Business Association.

The Regional Institution Strategic Enterprise (RISE) Zone incentives provide qualified institutions with an opportunity to develop strategies that increase economic and community development within their geographic area. In partnership with Baltimore County, qualified institutions are able to create rental assistance programs for businesses relocating into their designated zone. Enhanced income tax credits are also available for investors focused on biotechnology within the zone. To learn more about RISE zone designation, please email businesshelp@baltimorecountymd.gov.

Companies located or expanding in Maryland may qualify for state tax credits for each new job added. $2,500 to $5,000 credits are available in certain industries, subject to eligibility. Apply for the credit through the Maryland Department of Commerce.

Baltimore County is a designated Foreign Trade Zone (FTZ) for businesses who are involved in international trade. A foreign trade zone activation might save time and money, allowing domestic activity involving foreign items to take place as if it were outside U.S. Customs territory. Duty-free treatment is accorded to items re-exported and duty payment is deferred on items sold in the U.S. market.

Opportunity Zones (OZ) were enacted into federal law to spur private investment in distressed communities across the United States. The program provides federal tax incentives for investments in real estate projects and for business operation in designated communities. Deferral and partial tax reductions of reinvested capital gains, and forgiveness of tax on new capital gains are available.

Search for a specific address or download a map to see if your business location falls within a designated Baltimore County OZ. Investors will find information on Qualified Opportunity Fund eligibility and certification through the IRS website.

Additional resources are available for communities interested in attracting investment partners for their economic development projects.

• How cities can maximize Opportunity Zones
• Current listing of Qualified Opportunity Funds
• Recommendations for Opportunity Zones
• Maryland's OZ Information Exchange Portal
• Add My Listing