Resources
MD Commerce
As the state's primary economic development agency, MD Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. Commerce also promotes the state's many commercial advantages and its outstanding quality of life to spur economic development, international investment, trade and tourism.
Demographics
For an overview of Wicomico County's economy and economic profile, please see our Brief Economic Facts here:
Brief Economic Facts.
Financing
We welcome the opportunity to explore resources and structuring for the capital that you need. Financing can include loans, loan guarantees, equity participation, bond issuance, venture capital investments and other financial structures. SWED works with both public and private partners securing financial resources.
For more information and to discuss specific projects, contact SWED, or call 410-749-1251.
One Maryland Tax Credit
Businesses that invest in an economic development project in Wicomico County and create new full time jobs may qualify for up to $5 million in state income tax credits. For more information, eligibility guidelines and application procedures visit,
Maryland Commerce.
Manufacturing Tax Credit
Wicomico County offers a 100% personal property tax exemption on manufacturing equipment and machinery.
Enterprise Zone
Businesses locating within an enterprise zone may be eligible for real property and state income tax credits. Upon application and approval, the zone offers a ten year credit against local real property taxes on a portion of real property improvements. Credit is 80% the first five years, and decreases 10% annually to 30 percent in the tenth and final year. The zone also offers a one time $1,000 credit per eligible worker on state income taxes.
Enterprise Zone Maps
Enterprise Zone Application
SWED Ag Grant Fund
The SWED Ag Grant Fund is capitalized through a partnership between SWED, Wicomico County, PNC Bank and the Maryland Agricultural & Resource Based Industry Development Corporation (MARBIDCO) through MARBIDCO’s Local Government Agriculture & Resource Based Industry Project Cost Share Program. The goal of the program is to help foster growth in Wicomico’s emerging agriculture and resource-based industries. More information and an application can be found here.
SWED Shovel Ready
The purpose of the SWED Shovel Ready Site program is to better compete for large scale economic development projects by encouraging shovel-ready sites through upfront and creative financing.
CONTACT US
David Ryan
Executive Director
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Salisbury-Wicomico Economic Development, Inc.
One Plaza East Building
100 E Main St., Suite 501, Salisbury, MD 21801