Incentives

Description

We welcome your business in Frostburg.  In addition to having a business friendly atmosphere in a great community, there are many tax credits and other incentives available to support locating or growing your business in our community. If you have questions about any of these programs or locating a business in the City of Frostburg, please reach out to the Community Development Director, L. J. Bennett.  She will be glad to assist you.  She may be reached at 301-689-6000 ext. 105 or .The newest and most exciting incentive are the Opportunity Zones authorized by the federal tax act in 2017.  More detailed information is available at https://dhcd.maryland.gov/Pages/OpportunityZones.aspx.Most of the commercial and industrial land in the City is located within the Frostburg Enterprise Zone.  Businesses certified in the Enterprise Zone may be eligible for both property and income tax credits.  More information about the Enterprise Zone program in Maryland is available at: http://commerce.maryland.gov/fund/programs-for-businesses/enterprise-zone-tax-credit .  For information about becoming certified, contact City Hall.The City of Frostburg and Allegany County also offer for code compliance improvements associated with the rehabilitation of commercial structures. There are numerous incentives available through the State of Maryland, depending on the type and size of the business (browse the programs here: https://commerce.knack.com/maryland-funding-incentives).  Properties within the Historic District in Frostburg may also be eligible for historic tax credit programs: https://mht.maryland.gov/Financial.shtml, and the City has a designated Arts and Entertainment District, providing for incentives and/or tax credits for artists and entertainment venues within the district: https://www.msac.org/node/62709.Want to know more?  Give us a call at 301-689-6000 ext. 105.