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  • AGREEMENT UNDERTAKING ABOUT REPRESENTATION OF THE STATE OF MARYLAND TO RUSSIA AND THE CIS

AGREEMENT UNDERTAKING ABOUT REPRESENTATION OF THE STATE OF MARYLAND TO RUSSIA AND THE CIS

Key Maryland Incentives

  • Bio Investor Tax Credit: Maryland’s Biotechnology Investment Tax Credit program provides income tax credits for investors in qualified Maryland biotechnology companies. The value of the credit is equal to 50% of an eligible investment made in a qualified Maryland biotechnology company during the taxable year.  The maximum amount of the credit cannot exceed $250,000 for investors.

  • Stem Cell Research Fund: The Maryland Stem Cell Research Fund provides a variety grant programs for human stem cell research in the state of Maryland, to Maryland-based organizations. Options include investigator-initiated grants, exploratory research grants, and post-doctoral fellowship grants.  

  • Maryland Venture Fund: The Fund makes direct investments in technology and life science companies and indirect investments in venture capital funds.  Approximately 40 percent of the Fund is invested in life sciences companies in the areas of therapeutics, medical devices, and diagnostics.

  • One Maryland Tax Credit: Businesses can qualify for up to $5.5 million in income tax credits under the One Maryland Income Tax Credit Program.  Businesses that invest in an economic development project in a “qualified distressed county” may qualify for project tax credits of up to $5 million and start-up tax credits of up to $500,000.

  • Enterprise Zones/Focus Area Tax Credits: Businesses locating in a Maryland Enterprise Zone may be eligible for income tax credits and real property tax credits in return for job creation and investments made in the zone. Businesses that locate in one of Maryland’s three focus areas may also be eligible for personal property tax credits. 

  • Partnership for Workforce QualityThe PWQ provides matching skill upgrade training grants and support services targeted to improve the competitive position of small and mid-sized manufacturing and technology companies. PWQ grants are used to increase the skills of existing workers for new technologies and production processes, improve employee productivity and increase industry employment stability. PWQ matching grants are made directly to companies as well as through a number of manufacturing, software industry and ISO 9000 consortia programs working in cooperation with DBED. 

  • Foreign Trade Zones: Foreign-Trade Zone procedures allow domestic activity involving foreign items to take place as if it were outside U.S. Customs territory. Duty-free treatment is accorded items that are re-exported and duty payment is deferred on items sold in the U.S. market, thus offsetting Customs advantages available to overseas producers who compete with producers located in the United States.

    Maryland has four Foreign-Trade Zones:
    • Baltimore #74
    • BWI Airport #73
    • Prince George's County #63
    • Washington County #255

Other agencies may offer financial incentives for specific projects (i.e. Department of Agriculture for installation of best practices on farms, Department of the Environment for energy efficiency upgrades).

19:01 Moscow
11:01 Washington, DC
Tuesday,12.12.2017
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