Hagerstown, Maryland — The Board of County Commissioners of Washington County, Maryland (BCC) recently adopted a broadened “pad-ready” stimulus program as proposed by the Hagerstown-Washington County Economic Development Commission (EDC).
The program is designed to encourage builders to bring undeveloped land to a shovel-ready state, but is also intended for sites with existing buildings in need of redevelopment. Under the broadened program, demolitions, renovations and expansions of existing buildings will also qualify for the incentives. Additionally, the BCC agreed that the stimulus should run for three years to optimize the program’s impact.
The Pad-Ready program applies to sites with Commercial, Industrial or Industrial-Flex zoning, but is not available to retail oriented projects.
Qualifying projects are entitled to priority plan review by the Washington County Development Advisory Committee, deferral of County site-plan application and review fees, and a real-estate tax credit issuance once buildings are constructed. The tax credit is to be 0.4 of a percent (.4%) of the construction cost of the new improvement and will apply for three years.
“The program is designed to increase the availability of desirable building sites, thereby helping to attract additional jobs and investment to the County,” said EDC Executive Director Timothy R. Troxell, CEcD. “The EDC is excited to help make pad-ready sites a reality and looks forward to working with our partners to make this happen.”
About the EDC
The Hagerstown-Washington County Economic Development Commission (EDC) is a County agency providing assistance to new and expanding businesses throughout Hagerstown and Washington County, Maryland. The EDC interacts with a vast network of public, private and nonprofit organizations to address the business needs of the community, as well as attract new companies to the county. Visit www.hagerstownedc.org for more information.