Resources
& Incentives
Resources
Working with state and federal economic development partners, business owners on Maryland’s Coast have access to targeted incentive programs to start or expand in Worcester County. From farming and fishing to manufacturing, cybersecurity and the arts, these programs incentivize job creation, innovation and expansion. In addition, the Office of Tourism and Economic Development is here to assist you start, successfully expand and/or improve your business.
Open a New Business
We’re here to help with resources for aspiring entrepreneurs and existing business owners.
Planning an Agricultural Business
Agriculture and natural resources are essential to Maryland’s economy.
VLT Fund
As home to Ocean Downs – Delmarva’s only casino – small businesses on Maryland’s Coast can tap the VLT Fund. The program uses slot machine proceeds to assist small, minority, and women owned businesses in areas near Maryland casinos.
Tax Credits & Finance Programs
Maryland provides a $3,000 tax credit per eligible job, and $5,000 if in a revitalization area, for businesses that create new jobs to encourage businesses expanding or relocating to Maryland.
Workforce & Training Development
Additional
Resources
Federal Government Financing Programs
Hub Zone
Fueling small business growth, the federal government's goal is to award three percent of all federal contracting dollars to HUBZone-certified companies each year. To qualify for the HUBZone program, businesses must:
- Be a small business according to SBA Size Standards
- Be at least 51% owned and controlled by U.S. citizens, a Community Development Corporation, an agricultural cooperative, a Native Hawaiian organization, or an Indian tribe
- Have its principal office located in a HUBZone
- Have at least 35 percent of its employees living in a HUBZone
Small Business Administration (SBA)
Provides low and no-cost business consulting and training in financing, management and marketing. Offers assistance with business funding by identifying and accessing sources of capital.
USDA Rural Development Business Programs
The USDA provides financial backing and technical assistance in partnership with public and private community organizations and financial institutions. to provide financial assistance, business development, and technical assistance to rural businesses. Support the creation and preservation of quality jobs in rural areas through loans, loan guarantees, and grants.
Non-Profit, Academic & Sector Specific Business Resources & Programs
ExportMD
Helps offset international marketing costs for Maryland's small and mid-sized companies.
MD Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)
MARBIDCO's mission is to help Maryland's farm, forestry, and seafood businesses achieve sustainability and profitability through the provision of targeted business assistance and financial services that helps retain existing resource-based industry production and commerce, promotes rural and urban-edge entrepreneurship and nurtures emerging food/feed/fiber industries.
Maryland Capital Enterprises
Funding for small and micro businesses to start or expand operations.
Maryland Industrial Partnerships
Matching funding program (up to $100,000) for university-based research projects to develop and commercialize new or improved products. IPS provides funding, matched by participating companies, for university-based research projects that help the companies develop new products.
MidAtlantic Trade Adjustment Assistance Center
Provides technical assistance and grants to businesses negatively impacted by foreign competition.
TEDCO
Manages multiple programs designed to invest in and support entrepreneurs from early stage development to commercialization.
