Baltimore County Now
New tax benefits are available to businesses investing in industrial and commercial development on 7,000 acres in eastern Baltimore County. Maryland has approved a new Chesapeake Enterprise Zone to spur expansion of existing companies, promote development of vacant and underutilized properties and provide incentives for businesses to hire and add jobs.
Businesses locating, expanding or hiring new workers in the enterprise zone could be eligible for real property and income tax credits, according to the Baltimore County Department of Economic and Workforce Development.
“Now is the time to put enterprise zone incentives to work so we can bring family-supporting jobs back to eastern Baltimore County. We have some exciting opportunity sites and these tax benefits can help offset the costs of redeveloping and upgrading almost 900 older industrial and commercial properties in the new Chesapeake Enterprise Zone. This will go a long way toward attracting business investment to Sparrows Point, Middle River, Essex and Dundalk,” said Baltimore County Executive Kevin Kamenetz.
Major opportunity sites in the new Chesapeake Enterprise Zone include the 3,100 acre Sparrows Point peninsula, slated to become a hub for manufacturing, transportation and port related uses. The one million square foot Middle River Depot, a former World War II aircraft plant on Eastern Boulevard at Maryland Route 43, offers transit-oriented development opportunities with the MARC commuter rail station.
Expands Previous North Point Enterprise Zone
The Chesapeake Enterprise Zone replaces and expands an existing North Point Enterprise Zone and now includes 877 industrial and commercial properties. A map of the Chesapeake Enterprise Zone is on the County's website at http://resources.baltimorecountymd.gov/Documents/EconomicDevel/Enterprise/chesapeakeezmap.pdf.
Baltimore County’s new Chesapeake Enterprise Zone includes all of the area in the North Point Enterprise Zone, plus the portion of the Sparrows Point peninsula not previously included in the zone, the Middle River Depot and portions of the Eastern Avenue business corridor.
“Enterprise Zone status expands an important economic development tool for eastern Baltimore County,” said Baltimore County Council chair Cathy Bevins. “I’m especially pleased that enterprise zone benefits are now available to jumpstart development opportunities at Middle River Depot. This is a unique property with tremendous potential for advanced manufacturing, medical services and a host of job-producing industries.”
“Expanding the Enterprise Zone to include more industrial acreage on the Sparrows Point peninsula as well as parts of the Eastern Avenue corridor is the latest step in our commitment to assist Sparrows Point Terminal and the local business community in bringing new jobs back to the district,” said County Councilman Todd Crandell, who represents the Dundalk area.
Over $300 Million Invested Since 1995
"Over the past twenty years, enterprise zone designation has been a catalyst for more than $300 million in new private investment in eastern Baltimore County," said Baltimore County Executive Kevin Kamenetz. "Since the original North Point Enterprise Zone was established in 1995, vacant industrial buildings have become thriving manufacturing, logistics and supply chain hubs that take advantage of the area’s direct access to interstates, the deepwater Port of Baltimore and commercial rail.”
The Marshfield Business Park was developed on vacant land, with four major buildings and a total investment of almost $30 million. The former Eastern Stainless Steel property was redeveloped as the Baltimore Business Park and the Eastport Industrial Center was built on Quad Avenue. New companies such as Empire Resources, Dejana Truck Bodies, Fascan and H and E Equipment have moved to the zone, with 16 companies adding jobs since 2005.
Enterprise Zone Tax Benefits
The Maryland Enterprise Zone Program gives local governments the authority to offer tax incentives for investments and new job creation in economically distressed areas. Non-retail business located in a Baltimore County enterprise zone could be eligible for real property tax credits on the value of property improvements. Companies adding new employees also may be eligible for a state income tax credit based on the number of net new workers.
More information on Enterprise Zone benefits is available at www.BaltimoreCountyBusiness.com .
Businesses interested in locating or expanding in the Chesapeake Enterprise Zone should contact the Baltimore County Department of Economic and Workforce Development, 410-887-8000.
Bryan Dunn, Marketing Specialist, Baltimore County Department of Economic and Workforce Development
First, the news. Congratulations to Carchex in Hunt Valley, which grew its workforce by 42 percent since January. The company, which provides direct-to-consumer aftermarket vehicle protection plans, also moved to larger quarters last year at the Hunt Valley Towne Centre for a location that would allow them to grow. Apparently it’s working out. And they’re still hiring.
Carchex is in good company in the hot I-83 business corridor. There’s JMT’s recent announcement of a new Hunt Valley headquarters, McCormick & Company’s decision to continuing growing in Baltimore County, US Lacrosse breaking ground on a new headquarters that includes a museum and national training facility, and Kelly & Associates Insurance Group moving its 500 employees to a larger headquarters in Sparks. The vibrant Hunt Valley-Sparks business community has helped the hotel industry as well, with the just completed $15 million renovation of the 392-room Hunt Valley Inn Wyndham Grand on Shawan Road.
Carchex Hiring Now
If you’re interested in joining the Carchex team, don’t miss a career open house for inside sales representatives on Wednesday, June 17, 6 to 8 p.m. at the company’s Hunt Valley headquarters.
Help for Growing Businesses
Regardless of where your business is located in Baltimore County, the County’s workforce experts are ready to put resources in your hands to make it easier to grow. For instance, if your company is hiring a significant number of new employees in a 24-month period, you may be eligible for the Maryland Job Creation Tax Credit. That’s just one of many incentive programs available. For more information, give Baltimore County Economic and Workforce Development a call at 410-887-8000.
Baltimore County Executive Kevin Kamenetz and Will Anderson, Director, Baltimore County Department of Economic and Workforce Development
The economic development race was on when McCormick & Company, the global spice and flavorings powerhouse, announced it was looking for a new headquarters campus location. We suspect there was a gleam of hope in the eyes of every governor, county executive and mayor in the mid-Atlantic as they revved up their economic development operations and opened Power Point to prepare their pitches.
Baltimore County rolled up its sleeves. One of the first business meetings of this administration was with the CEO of McCormick, one of our largest employers. Maintaining that sound relationship set the groundwork for open dialogue as the company started its site selection process. Baltimore County worked for more than13 months to identify sites and appropriate incentives to meet the company’s requirements.
After rounds of due diligence and a lot of public speculation, McCormick chose to stay home, in Baltimore County Maryland.
Here’s why we believe McCormick decided to stay and invest here.
· Baltimore County’s business climate is right for a global company. Our property and income tax rates have not gone up for decades. This stability is critical for business planning.
· For more than 40 years, McCormick’s C-level headquarters and key operations have been spread out in northern Baltimore County. An R&D innovation center and two active manufacturing plants already are in Hunt Valley, so it made good business sense to have these operations and talent closer together in a 21st century business environment.
· McCormick employs more than 10,000 people around the world. One fifth of McCormick’s workforce – 2,100 employees – work in Baltimore County. About 900 of these employees will be moving to the new Hunt Valley campus.
· McCormick is a global publicly traded company with $4.2 billion in annual sales of spices, seasoning mixes, condiments and flavorings. Baltimore County has ready access to international airports, Wall Street decision makers and services that support manufacturing and trade.
· McCormick told us they need a location that helps them recruit and retain top-tier talent. Hunt Valley is a perfect fit. We have some of the region’s most exclusive executive housing and great schools. Hunt Valley Towne Centre and Wegmans are right across the street from the new headquarters site. Plus employees can take light rail right from work to an Os or Ravens game.
So we say ‘thank you McCormick’ and raise a jumbo crab doused with OLD BAY in your honor. We’re glad you chose to stay here in Baltimore County, home of McCormick innovation for generations to come.