BALTIMORE (WJZ) — More than 40 Baltimore neighborhoods could get a boost in business- or- that’s Gov. Hogan’s hope.
The governor came to Charm City on Thursday to propose an act that could create tax incentives in exchange for job creation in blighted neighborhoods.
His hope is to draw business into distressed areas by offering a tax credit for each new job created in dozens of Baltimore neighborhoods.
“We’re standing here today in one of these opportunity zones,” Gov. Hogan said.
To do that, he’s proposing putting millions into the city’s so-called “opportunity zones,”. Gov. Hogan says he plans to introduce an act that would give tax breaks in exchange for job creation.
So, companies that locate or expand in one of the zones could get a 10-year tax credit for each new job.
The state will also establish a job training program and a new task force to work with local leaders to fast-track development.
In a West Baltimore neighborhood that borders Coppin State University, Minister Glenn Smith said he is hopeful the plan to revitalize will be successful in bringing change to Charm City.
“I grew up in this community, and I knew what this community used to be,” Smith said. “That’s how you really revitalize a community, you have to have a path for people out of poverty, into becoming tax-paying citizens of this city. And, that’s what we’ve been missing: opportunity. You have to have opportunity,”
In Maryland, the feds have labeled 149 areas as opportunity zones. Baltimore has more of those zones than any other city in the state.