Baltimore County offers a variety of direct financing programs and tax credits to help grow your business, encourage investment and job creation in the County. Whether you are a new business, opening for the first time or have been open for decades—we offer programs that work for any industry and any size company.
To learn more about any of these tax credits and finance programs, contact a Baltimore County business development representative by calling 410-887-8000 or emailing businesshelp@baltimorecountymd.gov.
County Financing Programs
Private sector financing is leveraged with Baltimore County gap and flexible financing programs to help businesses expand and grow. Additionally, the County can help you access state, federal and private financing for new and expanding businesses.
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 five years with zero percent interest.
Building Improvement Loan Program (BILP) provides up to a $30,000 interest-free loan which can be used for exterior improvements such as awnings, landscaping and signage for businesses in one of 20 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.
Other Financing Programs
In addition to Baltimore County's programs, our partner organizations also offer options for financing. Maryland's Financial Incentives for Businesses list can be filtered to match your specific business needs.
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.
Tax Credits
The following are tax credits and incentives you might be eligible for right now.
Enterprise Zones are intended to encourage investment in distressed areas by helping to assist existing businesses to expand and to attract new companies investing in property and create jobs.
Baltimore County offers both employment and real property tax credits for businesses located within any of our three enterprise zones. This credit offers a reduction on your property tax bill as a result of major improvements. The credit also offers deductions on your state income tax bill for creating new jobs.
For more details about the tax credit, please see our Baltimore County Enterprise Zone Information Sheet.
View Enterprise Zones
There are three ways to view Enterprise Zones:
- Use the MyNeighborhood GIS mapping tool to locate and learn more about Enterprise Zones in the County.
- Download a map of all Enterprise Zone locations in the County.
- Download detailed maps of all three zones:
Apply
If you are interested in applying for the credit, complete the Enterprise Zone Application.
Baltimore County's Commercial Revitalization Districts (CRD) are the "front doors" to our desired established communities. They offer a shopping and entertainment experience where family-owned business and national retail chains are neighbors. The CRD program of the Department of Planning offers three incentives for businesses located within any of the 17 districts throughout the County.
- 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.
The Baltimore County Brownfields Tax Credit is available to properties that have gone through the Maryland Voluntary Cleanup Program (VCP), have received formal designation by the Maryland Department of Commerce as a "Qualified Brownfields Site," and are owned by an inculpable person.
The Historically Underutilized Business Zones (HUBZone) program helps small businesses in urban and rural communities gain preferential access to federal procurement opportunities.
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.
If your company plans to create more than 25 new jobs at a single Maryland location over the next two years, you may qualify for a state tax credit for each new job added. Credit up to $1,000 per job or up to $1,500 per job in Enterprise Zones is available for certain industries. Tax credits are subject to eligibility and require approved applications.
Baltimore County is a designated Foreign Trade Zone (FTZ) for businesses who are involved in international trade. If your business is importing products from overseas and paying taxes and duties, a foreign trade zone activation might save so you some time and money. Foreign Trade Zones allow domestic activity involving foreign items to take place as if it were outside U.S. Customs territory. Duty-free treatment is accorded to items that are re-exported and duty payment is deferred on items sold in the U.S. market, thus offsetting Customs advantages available to overseas producers who compete with producers located in the United States.
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.