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For Immediate Release:
Govenor Ehrlich Announces Renewal of Washington County Enterprise Zone
ANNAPOLIS, MD (June 18, 2004) - Continuing to enhance economic development and job creation in Western Maryland, Governor Robert L. Ehrlich, Jr. today announced the redesignation of Hagerstown Regional Airport Enterprise Zone, one of the state's three Enterprise Zones in Washington County.
The Hagerstown Regional Airport Enterprise Zone includes the county-owned Hagerstown Regional Airport and the Washington County Business Airpark, as well as the privately owned Bowman Air Park Center and Top Flight Air Park. The zone encompasses approximately 700 acres, of which 97 acres, with runway access, are ready for development. More than 1.4 million square feet is available for lease. The zone is expected to help provide incentives for employers to create new jobs in the area.
"The enterprise zone program is an important tool for fostering economic development in our established rural areas," said Governor Ehrlich. "We are confident the zone will promote growth and attract new businesses and jobs to Washington County."
Businesses moving to enterprise zone areas may be eligible for credits on their real property taxes and state income taxes. Existing businesses located in designated zones may receive tax incentives in exchange for creating new jobs and making capital investments.
The Department of Business and Economic Development (DBED) approves the state's enterprise zones and local governments are responsible for their administration. There are currently 30 enterprise zones throughout the State.
"The redesignation of this zone should help stabilize the economy by giving businesses the incentives and resources they need to locate or expand, which will create new jobs," said DBED Secretary Aris Melissaratos. "It should be particularly attractive to businesses within the aviation and aerospace industries."
"The state's enterprise zone program is a key element of Washington County's efforts to attract new jobs and investment to the area," said Gregory I. Snook, president, Washington County Board of County Commissioners. "Because the aviation industry is a target of our business recruitment efforts, it's great news that DBED has renewed the Hagerstown Regional Airport Enterprise Zone for an additional 10 years."
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