{"id":9826,"date":"2019-04-30T13:13:18","date_gmt":"2019-04-30T17:13:18","guid":{"rendered":"http:\/\/news.maryland.gov\/dhcd\/?p=9826"},"modified":"2019-04-30T13:13:18","modified_gmt":"2019-04-30T17:13:18","slug":"governor-hogan-signs-major-expansion-of-opportunity-zone-initiative","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2019\/04\/30\/governor-hogan-signs-major-expansion-of-opportunity-zone-initiative\/","title":{"rendered":"Governor Hogan Signs Major Expansion of Opportunity Zone Initiative"},"content":{"rendered":"

For\u00a0immediate\u00a0release:
\nApril 30, 2019
\nContact:
\nShareese Churchill,\u00a0shareese.churchill@maryland.gov<\/a>, 410-974-2316<\/p>\n

Governor Hogan Signs Major Expansion of Opportunity Zone Initiative<\/strong>
\nLegislation Further Fosters Environment of Economic Opportunity<\/em><\/p>\n

ANNAPOLIS, MD<\/strong>\u2014Governor Larry Hogan today signed major legislation to advance one of his top priorities: bringing jobs and businesses to underserved communities.\u00a0Senate Bill 581\u00a0<\/strong>extends benefits under the Hogan administration\u2019s landmark More Jobs For Marylanders program to the state\u2019s 149 Opportunity Zones. The governor highlighted this initiative in his\u00a0State of the State address<\/a>.<\/p>\n

\u201cWe are pleased to enact this major legislation to help foster an environment of economic opportunity, create thousands of jobs, and revitalize the Maryland communities that need our help the most,\u201d said Governor Hogan. \u201cWe will supercharge investment and make Maryland\u2019s 149 Opportunity Zones the most competitive ones in America.\u201d<\/p>\n

Governor Hogan\u2019s\u00a0More Jobs for Marylanders<\/a>\u00a0program was enacted two years ago, and further expanded last year, to offer manufacturing companies that grow or expand in the state to be eligible for tax incentives. The legislation the governor signed today extends those same benefits to all businesses that locate or expand in Maryland\u2019s Opportunity Zones.<\/p>\n

“The legislation enacted today further solidifies Maryland’s status as a national leader in implementing the Opportunity Zones program,” said Lt. Governor Boyd Rutherford, chair of the\u00a0Maryland Opportunity Zone Leadership Task Force<\/a>.\u00a0“Our administration is taking every action to ensure that this program truly makes a difference in the communities that need it the most.”<\/p>\n

Additionally, this legislation\u00a0paves the way for jurisdictions to offer a property tax credit for vacant properties in Opportunity Zones that are put back into use. Through the Department of Commerce, it also makes additional tax credits available to businesses that take part in the Opportunity Zone program.<\/p>\n

This is one of 174 bills Governor Hogan signed on Tuesday alongside\u00a0Senate President Thomas V. \u201cMike\u201d Miller and Speaker Pro Tem Adrienne Jones.<\/strong><\/p>\n

# # #<\/p>\n","protected":false},"excerpt":{"rendered":"

For\u00a0immediate\u00a0release: April 30, 2019 Contact: Shareese Churchill,\u00a0shareese.churchill@maryland.gov, 410-974-2316 Governor Hogan Signs Major Expansion of Opportunity Zone Initiative Legislation Further Fosters Environment of Economic Opportunity ANNAPOLIS, MD\u2014Governor Larry Hogan today signed major legislation to advance one of his top priorities: bringing jobs and businesses to underserved communities.\u00a0Senate Bill 581\u00a0extends benefits under the Hogan administration\u2019s landmark More  Read the Rest…<\/a><\/p>\n","protected":false},"author":119,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[7,46,26,178,33],"tags":[],"class_list":["post-9826","post","type-post","status-publish","format-standard","hentry","category-community-development","category-governor-hogan","category-neighborhood-revitalization","category-opportunity-zones","category-press-releases"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/9826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/119"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=9826"}],"version-history":[{"count":3,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/9826\/revisions"}],"predecessor-version":[{"id":9829,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/9826\/revisions\/9829"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=9826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=9826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=9826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}