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Local Assistance The Garrett County Community Action Committee, Inc. offers entrepreneurs and employees a variety of useful programs, including its MicroWorks Business Program, a program specifically designed to assist businesses with less than 10 employees. This program offers training and technical assistance to current and prospective Garrett County micro-businesses and administers a revolving loan fund. The MicroWorks Loan offers a variety of options. One may be right for you. In addition to its MicroWorks Business Program, Garrett County Community Action offers a surprising array of programs and services to assist area businsses, including: Community Asset Mapping Community Needs Assessment Market Analysis Studies Sector Analysis and Strategies Group Meetings Workshops Resource Collection and Documentation Mentoring Activities State and Regional Advocacy Grant Research and Writing Partnerships with Other Agencies
For more information on Community Action's programs, please call (301) 334-9431, ext. 153, or toll free at (888) 877-8403. The Garrett County Development Corporation (GCDC) is a private, non-profit corporation offering low interest loans from its revolving loan funds to Garrett County businesses. Loans are available for new or expanding businesses for real estate purchase, new construction, rehabilitation, and working capital. Contact any one of the Economic Development staff for more information or click on the links below to access: The Garrett County Board of Commissioners, acting under the authority of legislation adopted by the State of Maryland, implemented the Garrett County Property Tax Credit Program for new and expanding businesses in Garrett County effective with the 2008 – 2009 tax year (July 1, 2008 to June 30, 2009) for improvements reflected on tax bills after June 30, 2007. The tax credit, to be applied against a business’s County real estate tax, is intended to encourage and facilitate business and job growth in the County. Businesses that make a minimum of $100,000 in improvements to their real property, as determined by the Maryland Department of Assessments and Taxation, will be eligible for a 5-year tax credit to be applied against the Garrett County real estate tax on the increase in value attributed to the improvements. The tax credit will begin at 50% and decrease by 10% per year for the balance of the 5-year period. In other words, the tax credit would be 50% of the assessed value of improvements in year 1, 40% in year 2, 30% in year 3, 20% in year 4, and 10% in year 5. After five years of property tax credits, the property is returned to the tax rolls at its full value. Example: A business with an assessed real property value of $250,000 expands resulting in an increased assessed value of $750,000 – an increase of $500,000. Fifty per cent of this $500,000 increase (or $250,000) would not be taxed in the first year. The County tax rate is currently $1.00 per $100 of assessed value. Therefore, the business’s real estate tax savings for the first year would be $2,500. The tax credit would decline by 10% each year for years 2 through 5. Continuing with this example, total real estate tax savings to the business over the 5-year period would be $7,500. The Garrett County Department of Economic Development will certify a business’s eligibility for the tax credit and administer the Property Tax Credit Program. Interested businesses should contact Kim Durst at 301-334-1921, or kdurst@garrettcounty.org. Additional organizations providing assistance include: Garrett County Chamber of Commerce:
With over 500 members, the Garrett County Chamber of Commerce has the resources to promote the growth and development of its members. As a member, you'll have the opportunity to market your products and services locally through the Chamber's monthly mailings, as well as the chance to attend “Business After Hours” networking events and training seminars. Western Maryland Consortium:
Serving our region since 1974, the Western Maryland Consortium provides workforce development services in Garrett, Washington, and Allegany Counties through federal funding provided by the Workforce Investment Act. For more information, please contact the Western Maryland Consortium at (301) 334-8136. For more information on the resources these agencies have to offer you and your business, check out their websites.
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