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With eye on startups, UMd. to apply for tax breaks for College Park businesses

Staff Writer- Washington Business Journal
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The University of Maryland will be applying for status as a qualified institution to give tax breaks to businesses — particularly startups — located around some of College Park’s higher-profile locales, such as the planned hotel-conference center and research park.

The school is applying for that status under Maryland’s Regional Institution Strategic Enterprise Zone program, which provides local property and income tax credits for businesses in its designated areas. The program, which begins this year, is designed to drive business activity around the state’s colleges and universities.

Brian Darmody, the University of Maryland’s associate vice president for corporate relations, told me the initial application is still being put together. The university must first apply for approval as a qualified institution before it can apply for the creation of RISE Zones.

Read more here from Washington Business Journal


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