Maryland Expands Opportunity Zone Incentives

Maryland has begun offering tax credits to a broader range of development projects in the state’s economically distressed areas.

Gov. Larry Hogan (R) signed into law a bill (S.B. 581) that extends tax credits for investment and job creation in those areas to non-manufacturing entities. Existing state law only provided that preferential tax treatment to manufacturing companies that located or expanded in one of Maryland’s opportunity zones.

Opportunity zones are a tax incentive created in the 2017 tax law. That law aimed to spur investment in economically distressed areas by offering a capital gains tax break for ...