BALTIMORE (AP) — Maryland is designating an area around Woodlawn as an enterprise zone, where businesses that make property improvements and hire new workers can be eligible for income and property tax credits.
The state will also expand existing enterprise zones in Baltimore and Baltimore County. The Baltimore zone will grow by 112 acres and the Cambridge-Dorchester zone will grow by more than 500 acres.
Maryland Gov. Martin O’Malley says the changes will help spur redevelopment in the areas.
Businesses located in the zones are eligible for $1,000 income tax credits for new workers and $6,000 over three years for hiring economically disadvantaged employees.
The state currently has 29 enterprise zones.
(Copyright 2011 by The Associated Press. All Rights Reserved.)