Executive Gardner Supports More Tools in the Small Business Toolbox
Executive Jan Gardner today announced her support for a Small Business Real Property Tax Credit that will be introduced to the County Council later this month by Council Vice President MC Keegan-Ayer. The tax credit program is designed to encourage and support small businesses that expand their space and create new jobs in Frederick County.
The tax credit will be available to businesses with 50 or fewer employees. In order to qualify, small businesses must add or lease at least 2,500 square feet of new or expanded space and they must employ at least five individuals in new, permanent full-time positions during a 24-month period.
“With the support of the County Council, my administration has put in place tools to help local businesses grow as well as to make Frederick County more attractive to businesses that want to move here,” Executive Gardner said. “I am excited to help small businesses expand and this is one more tool in the toolbox to help them succeed. My administration means business.”
“Small businesses are a major part of the economic engine that drives Frederick County, and I am excited that after months of working on this effort we now have legislation ready to go,” commented Vice President Keegan-Ayer.
Last year, Executive Gardner proposed and the Council approved a tax credit for large manufacturers expanding into the county. Later, at her request, the Frederick Delegation supported a bill to modify legislation to help small businesses. The General Assembly unanimously passed the legislation and the Governor signed it this spring.
