Maryland Businesses Receive Microgrants From Opportunity Zone Investment
ANNAPOLIS, Md. (WJZ) -- Seven manufacturing and retail businesses in Maryland are receiving microgrants from a $500,000 Opportunity Zone investment, Governor Larry Hogan announced Friday.
Opportunity Zones are designated communities that are eligible for federal capital gains tax incentives.
"Our state has been working hard to supercharge investment and make Maryland's 149 Opportunity Zones the most competitive ones in America," said Governor Hogan. "Maryland Opportunity Zone funds have already received more than $333 million of equity investments, and we continue to see expansion of businesses, new jobs, and much-needed affordable housing in these areas."
It's the second round of grants made through the Maryland Department of Housing and Community Development's Neighborhood BusinessWorks Program.
One of the recipient businesses is in Baltimore City. Zest Tea LLC. in Baltimore is tied for the largest award at $100,000. The business offers "high caffeine energy tea" according to its website.
Here are all the recipients:
| Jurisdiction | Awardee | Amount |
| Allegany | Aeon Technologies | $80,400.00 |
| Baltimore City | Zest Tea, LLC | $100,000.00 |
| Charles | Discovery Lane, LLC | $70,000.00 |
| Kent | Twigs and Teacups Chestertown LLC | $100,000.00 |
| Washington | Crist Instrument Co Inc. | $50,000.00 |
| Wicomico | Mason-Dixon Machining, Inc. | $50,000.00 |
| Wicomico | Quality Staffing Services, Inc. | $49,600.00 |
