Business Incentives

Enterprise Zone Tax Credits
The Silver Spring Enterprise Zone (SSEZ) was designated by the State of Maryland for ten years from December 15, 1996 until December 15, 2006. The SSEZ comprises the Silver Spring Central Business District (CBD) and the area south of the CBD between the railroad tracks and Eastern Avenue to the District of Columbia boundary. Where the SSEZ boundary is shown in the rights-of-way of Spring Street, Cedar Street, Wayne Avenue, Fenton Street, and Blair Road, the properties contiguous to the rights-of-way of these streets are included in the zone. Businesses and owners of commercial property in the SSEZ area may be eligible for employment and property tax credits if they meet the requirements for eligibility.

The Silver Spring Enterprise Zone allows the state to issue property tax credits on any new expansions, renovations, or capital improvements to non-residential properties. Income tax credits are available for businesses in downtown Silver Spring with newly hired employees.

The Enterprise Zone was designated on December 15, 1996 and will continue until December 15, 2006.

• From 1997 through 2004, the Silver Spring Enterprise Zone received applications from 193 firms.
• Companies received income tax credits for each of 1430 new jobs created or relocated in the Silver Spring Enterprise Zone during 1997 through 2004.
• Improvements to downtown commercial properties resulted in $189 million of new capital investment during this eight year period. Properties that were improved will receive a property tax credit starting at 80 percent on any increase in the assessed value of the property for the next ten years.

Green Tape Process
The Green Tape Zone designation provides for a County team which gives downtown projects special priority in reviews and inspections.

• The Green Tape Team handles requests for assistance with the Fire Marshal, Liquor Control/License Commissioners, Building and Electrical Permits, Zoning, and the Public Health Services/Food Services unit.
• Pre-application assessment inspections provide potential owners/tenants with information about the suitability of a building space for their intended use. New businesses now have a better chance to determine the likelihood of a successful start in downtown buildings as a result of these inspections.

Arts and Entertainment District
Silver Spring was one of the first four Arts and Entertainment Districts designated by the State of Maryland in January 2002, and the first in Montgomery County. The A&E District combines incentives to attract artists and entertainment venues to a concentrated area. The incentives include a number of tax benefits plus financial assistance from the Maryland Economic Development Assistance Fund. Art and entertainment were included in the concept for the revitalization of downtown Silver Spring. Redevelopment created an environment inviting to artists and entertainment activities. The economic development incentives will help them establish arts and entertainment businesses:

• Income tax relief for artists and entertainers;
• Financial assistance to arts and entertainment projects;
• Admission and Amusement Tax exemption;
• Property Tax Credit for capital investment to renovate or build a facility for artists to live and work in, or for an arts and entertainment enterprise.

State Liquor Laws
A restaurant with two locations in Montgomery County that have Class B Beer, Wine, and Liquor licenses, can now receive a third license for a restaurant locating in downtown Silver Spring.

back