Notice of Public Hearing: St. Mary’s County NEXB (New and Expanding Business) Tax Credit

News Release, St. Mary’s County Public Information Office

NOTICE IS HEREBY GIVEN that the Commissioners of St. Mary’s County will conduct a Public Hearing in the Commissioners’ Hearing Room of the Chesapeake Building, located at 41770 Baldridge Street, Leonardtown, Maryland, on Tuesday, March 19, 2019, beginning at 9:10 a.m., for the purpose of receiving public testimony on proposed amendments to the New and Expanding Business (NEXB) Tax Credit application process.

Amendments to be considered include the following:

1)                Simplifying how the tax credit is calculated.

•   The credit will be provided for a number of years based on the number of jobs created:

Number of Jobs CreatedNumber of Years Credit Will BeProvidedProperty Tax Credit Amount
10 – 155$5,000
16 – 258$8,000
26 or more10$10,000

Note that as a result of the evidence and comments made at the public hearing, changes may be made to the proposed amendments.

Copies of the simplified NEXB application are available in the Department of Economic Development, Potomac Building, 2rd floor, 23115 Leonard Hall Drive, Leonardtown, MD 20650, www.yesstmarysmd.com.

Chris Kaselemis, Director

St. Mary’s County Department of Economic Development

(301) 475 4200 ext. *1400

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