Financial Incentives

Financial Incentives

In the business world, access to capital is everything. We open doors to public and private financing and incentive programs for your new or expanding business.
Local Financing
Garrett County Community Action’s MicroWorks Business Program offers training and loan assistance to current and prospective Garrett County micro-businesses. Click here for details.
The Mountain Maryland Angels accelerate the growth of early-stage businesses in Garrett, Allegany, and Washington Counties. These investors support business development, strategic planning, capital raising, and management team building. Click here to learn more.
Local Tax Credits
The Office of Economic Development will certify eligibility and administer the following:
To be applied against a business’s county real property tax, it encourages and facilitates business and job growth in the county.
SBA HUB Zone-Designated County
Garrett County is considered a Historically Underutilized Business Zones (HUBZone). This certification qualifies businesses for preferential status in competition for federal government contracts.  

Oakland Offers Incentives to Entrepreneurs

The Mayor and Town Council of Oakland have endorsed the concept of offering incentives to potential new businesses, land owners, tenants, or existing businesses willing to invest in downtown Oakland.

Aug 9, 2016 at 12:51pm

Increased Funding Approved for SBA's 7(a) Loan Program

A bill to increase the lending authority for SBA's 7(a) loan program for FY 2015 was passed by Congress and signed by the President.

Jul 31, 2015 at 2:01pm

Officials Hope Rural Tax Incentive Bill Will Pass in 2016

Sen. George Edwards has the backing of R. Michael “Mike” Gill, secretary of the Department of Business and Economic Development, when Edwards tries to pass the economic stimulus bill next year.

Jun 12, 2015 at 11:03am