"Fast Track" Designation
The Cecil County Office of Economic Development will work with company real estate staff architects, engineers and facilities managers to assure you navigate the regulatory system in a timely manner. The County can assist with fast track permitting and advocating with state and federal agencies. The County will accelerate and approve important economic development projects in less than 90 days.
The Cecil County Enterprise Zones encompasses 4,389 acres and nine business parks throughout Cecil County. Businesses locating in the Enterprise Zone may be eligible for income tax and real property tax credits in return for job creation and investments.
Cecil County's Revolving Loan Fund
The Revolving Loan Fund is available to assist businesses with purchasing land, buildings, equipment, inventory and other capital needs. This low interest loan is limited to no more than 50% of the total project cost. The maximum loan amount is $75,000 with an interest rate of 50% of prime, fixed for the life of the loan.
The VOLT Fund
The VOLT Fund is Maryland's Small, Minority and Women-Owned Business loan fund, which receives 1.5 percent of video lottery terminal revenue from Maryland casinos. Small and minority/woman owned businesses located within 10 miles of any of Maryland's three casinos and those located elsewhere in the state may be eligible for loans of between $25,000 to $500,000 for purposes such as business and commercial real estate acquisition and expansion, lease-hold improvements, equipment and vehicle purchase, and working capital. It is anticipated that seventy percent of the funds will be distributed to conventional small businesses and thirty percent will be directed to entrepreneurs of emerging technology.
Industrial Revenue Bonds
Cecil County offers tax-exempt financing for manufacturers and 501 (c)(3) organizations, in accordance with the terms, borrowing limits and uses established by federal law.
In addition, a number of public financing opportunities and incentives available through the State of Maryland recognize corporate investment and job creation and/or retention. To learn about Cecil County incentives and eligibility contact the Cecil County Office of Economic Development at 410-996-6292 to learn more.