Gov. Larry Hogan today announced a package of proposals intended to propel job creation and economic activity in the state’s 149 new federal “Opportunity Zones,” 42 of which are in Baltimore.
The governor stood today with Mayor Catherine Pugh and other local leaders and residents at Walbrook Mill, a former lumber yard in West Baltimore being converted into a mixed-use commercial and residential hub in the heart of one of Baltimore City’s designated Opportunity Zones.
Among Hogan’s announced programs:
-The More Opportunities for Marylanders Act of 2019: If passed by the General Assembly in the upcoming session, it would allow businesses that relocate to or expand in an opportunity zone to receive a 10-year tax credit, have their state property taxes exempted and waive any business filing or reporting fees. Companies would be eligible for $6 million in total tax credits for creating jobs.
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