Grants & Tax Credits

Financial assistance to help our local businesses!

The Facade Grant Program

The Façade Improvement Project offers matching funds for façade improvement. Building and/or business owners can apply for up to 50 percent of the cost of their improvement project. In general, the maximum grant contribution by the GMA is $10,000. The minimum grant contribution is $1,000. However, the GMA may consider approval of a higher amount for large catalytic projects, projects that would contribute significant improvement to the physical appearance of the Golden Mile and would be expected to significantly increase business traffic to all businesses on the Golden Mile. Work completed prior to a letter of commitment is not eligible for funding.

The goal of the project is to encourage building renovation and improved economic vitality by providing funding to upgrade Golden Mile building facades.  Since signage is not a permanent upgrade to the facade, the GMA will only consider 50% of signage cost in the reimbursement determination. The façade grant is to improve the look of the façade of a business, including painting, trim, planters, etc.  Changes to the façade are more permanent and benefits the entire GM by upgrading a business look.

The Façade Improvement Project is administered by the GMA Design Committee. The Design Committee is composed of Golden Mile business owners, architects, engineers, residents and others who want to improve the physical appearance of the Golden Mile. The Façade Improvement Project is funded by the State of Maryland’s Community Legacy Program.

To date 2020, the GMA has processed eleven facade grant applications – nine facade upgrades have been completed and two other are in process.  Additional details on the facade grant application can be found under GMA accomplishments.

If you are interested in applying for a grant for facade improvement please fill out and sent the completed  GMA Facade Grant Application to the Golden Mile Alliance Design Committee at the address on the application.

Enterprise Zone

Real Property Tax Credit

A 10-year County and City tax-credit based on the increase in real property tax assessments resulting from commercial capital investment.  The credit is calculated during the first five years as 80 percent of the assessed property improvement, and then decreases 10 percent annually to 30 percent in the 10^th year.

State Property Tax Credit

• A one-time $1,000 state income tax credit for each qualified employee filling a newly created position.
• Three-year state income tax credit for each qualified new economically disadvantaged employee, earned at $3,000 in Year One, $2,000 in Year Two, and $1,000 in Year Three.

ELIGIBILITY

• Must be established within designated 530-acre enterprise zone.
• To claim the property tax credit, at least $25,000 in capital investment in the enterprise zone must occur.
• For the general income tax credit, business must create at least one full-time position (35+ hours a week) where the employee is paid at least 150% of the federal minimum wage and remains in the position for at least six (6) months doing at least 50% of the work time in the enterprise zone.
• To claim the income tax credit for hiring economically disadvantaged employees, business must have certification from the Maryland Department of Labor, Licensing and Regulation and the employee must remain in the position for three years.

For additional information, visit the MD Department of Commerce website.

GROW Grant 

The City of Frederick offers a matching grant program for property improvement projects by City businesses with fewer than 25 full-time employees – AND –  the industries of advanced technology, manufacturing, life sciences, and IT – OR – in a location that would provide a catalytic effect on the area immediately surrounding the business.

For full details and information to apply contact the City’s Department of Economic Development.