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. You can download a printable PDF of resources here

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

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. 

Incentives & Finance Programs

Workforce & Training Development

PWQ provides matching training grants and support services targeted to improve the competitive position of small and mid-sized manufacturing and technology companies.

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(link is external)

  • 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 live 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.

Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Assists farm, forestry and seafood businesses achieve profitability and retain existing production.

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.

Veteran Entrepreneurs