The Maryland Department of Commerce has approved the expansion of the Hagerstown/Washington County Enterprise Zone, which will help the county continue to bounce back from losses experienced during the pandemic. The state’s Enterprise Zone program provides real property and state income tax credits for businesses located in an enterprise zone in return for job creation and investments.
Originally designated in 1992, the existing zone covers 4,080 acres throughout the area. The expanded designation will include 178 acres within the City of Hagerstown and 150 acres from within the county, totaling nearly 4,410 acres in the region. The expansion, which includes the former Review & Herald Publishing company site as well as industrial space, will allow the city and county to better market its available land for development opportunities, with the goal of attracting new businesses, job creation, and capital investment in the area.
Maryland currently has 36 enterprise zones. Businesses located in the state enterprise zones have received roughly $46 million in property tax credits in FY 2021, contributing to an estimated $3.7 billion in capital investments made in FY 2021.
Learn more about Washington County’s Enterprise Zones.