MD INFO PORTAL
Formerly called Redbook Online, the Maryland InfoPortal is a one-stop solution for finding financial and non-financial assistance offered by Maryland state government agencies on the web. It contains links to 700-plus state programs and direct development to local government, civic and private organizations, and individuals.
Historically Underutilized Business Zone Empowerment Contracting (HUBZone) may be extended to the year 2022 in Garrett County. The program currently helps provide 11 companies to employ nearly 500 workers. A 10% edge in federal contract bid adds a competitive advantage creating new economic opportunity.
The Appalachian Regional Commission (ARC) is a federal-state partnership that invests to build community capacity and strengthen economic growth in Appalachian states. Funding promotes economic opportunity, prepares a ready workforce, builds critical infrastructure, leverages natural and cultural assets, and cultivates leadership and community capacity.
RURAL BUSINESS DEVELOPMENT GRANT
The Rural Business Development Grant (RBDG) program provides targeted technical assistance, training and other activities to develop or expand small and emerging private, rural businesses that will employ 50 or fewer new employees and have less than $1 million in gross annual revenues.
CYBERSECURITY INVESTMENT INCENTIVE TAX CREDIT (CIITC)
CIITC provides a refundable income tax credit to Qualified Maryland Cybersecurity Companies (QMCCs) that secure investment from investors. The purpose of this new program is to incentivize and attract cybersecurity companies to startup in or move to Maryland; and to attract investment to cybersecurity companies in order to help them grow, create jobs and retain intellectual property in Maryland.
REGIONAL INSTITUTION STRATEGIC ENTERPRISE (RISE) ZONE PROGRAM
Businesses locating in a RISE Zone or an existing business doing a significant expansion within the Zone may qualify for real property tax credits and income tax credits related to capital investment and job creation. The Maryland Department of Commerce can assist businesses with identifying and utilizing other State programs for which they might qualify, and with permitting and licensing applications. (Under review)