Provide an income tax credit of $3,000 per new job to a business that creates new full-time jobs. If the business locates in a revitalization area (state enterprise zone, federal empowerment zone, or DHCD Sustainable Community), the credit increases to $5,000 per new job.
The business may not claim more than $1 million in a credit year. The program is capped at $4 million in tax credits in a calendar year. Credits are certified on a first-come, first-served basis based on when the Maryland Department of Commerce (Commerce) receives the final application and the availability of credits.
Unused credits may be carried forward for five years.