Washington County is known for our pro-business climate. With incentives and financing programs from a variety of sources, we are ready to help businesses open, expand or relocate in one of our great communities. We strive to fully understand your business needs. Then we work with partners to develop custom programs that help you accomplish your goals.
For qualifying economic development projects, Washington County employs its "Fast Track Team" to oversee and facilitate the approval processes for a business' construction project. The benefits of a quick turnaround and phased permits creates up to a 50% time savings during the planning processes. The guidance and coordination of all departments involved in construction approvals can significantly reduce costs.
Public, private and quasi-public sources provide financing to new and expanding industrial companies in Maryland. Our local and state financing options offer a number of business programs and incentives, including gap financing, loan guarantees, and grants for industrial training and historic preservation.
Many state programs offer assistance through insurance or guarantees of commercial loans. Benefits for companies may include lower interest rates, loans for a greater portion of facility costs, or longer terms than are usually available. The amounts and availability of financing are often determined by the collateral requirements and lending policies of participating private financial institutions.
For projects that meet the economic development objectives of Washington County, the Maryland Department of Commerce (DOC) will often allocate conditional loans or grants to assist with relocation or expansion.