Gov. Hogan announces additional opportunity zone funding for state businesses
ANNAPOLIS, Md. – Governor Larry Hogan announced on Friday that seven manufacturing and retail businesses across the state will receive $500,000 to expand and grow in Maryland Opportunity Zones, which are designated communities that are eligible for federal capital gains tax incentives.
This announcement is the second round of awards made through the Maryland Department of Housing and Community Development’s Neighborhood BusinessWorks Program. The first round of grants was awarded in January 2021.
“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.”
On the Eastern Shore, two companies will receive award money. Mason-Dixon Machining, Inc. will receive $50,000, while Quality Staffing Services, Inc. will receive $49,600. Both companies are located in Wicomico County.