City of Salisbury and Salisbury University Partner to Create Tax - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

City of Salisbury and Salisbury University Partner to Create Tax Credit Zone

Posted: Apr 03, 2018 12:21 PM Updated:
People walking in Downtown Salisbury. (Photo: WBOC) People walking in Downtown Salisbury. (Photo: WBOC)

SALISBURY, Md.- The City of Salisbury and Salisbury University are in the process of applying to establish a new tax credit zone by the university, which officials say would help boost business and spur economic development.

It's all part of the RISE Zone Program through the Maryland Department of Commerce.

The program creates partnerships between qualified higher learning institutions and local governments with the aim of using financial incentives to push economic development.

"When you move in a college town, you have a consumer base. This is a city of roughly 30,000 people, but we're a college town of just under 9,000 students," said Salisbury University Director of Government and Community Relations Eli Modlin.

The tax credit zone would stretch from Salisbury University to Downtown Salisbury.

Financial incentives for people looking to open shop or property developers would include things like real property tax credits and income tax credits.

"As a development company, we're interested in anything that's going to bring new jobs to the community. People coming in and buying homes instead of renting homes," said Bill Martin with ERA Martin Associates.

Salisbury University received the qualifying institution designation for the RISE Zone Program last year.

Now, the city has to apply for the zone.

The council discussed a resolution to do just that at a work session on Monday night, which means that resolution can now move to the legislative session.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Videotaped Package Delivery Irks Kent County Resident

    Videotaped Package Delivery Irks Kent County Resident

    Friday, December 14 2018 7:28 PM EST2018-12-15 00:28:42 GMT
    Friday, December 14 2018 7:28 PM EST2018-12-15 00:28:42 GMT
    CHESWOLD, Del. --- Chris Walsh got an alert on Thursday from his motion-sensitive door camera after a delivery truck with a package he was expecting arrived at his house. What Walsh said he didn't expect was to see the driver fling the package onto his frMore
    CHESWOLD, Del. --- Chris Walsh got an alert on Thursday from his motion-sensitive door camera after a delivery truck with a package he was expecting arrived at his house. What Walsh said he didn't expect was to see the driver fling the package onto his frMore
  • Berlin Man Dies Following Crash in Wicomico County

    Berlin Man Dies Following Crash in Wicomico County

    Saturday, December 15 2018 8:24 PM EST2018-12-16 01:24:01 GMT
    Saturday, December 15 2018 8:24 PM EST2018-12-16 01:24:01 GMT
    SALISBURY, Md. - A Berlin man died following a crash in Salisbury.More
    SALISBURY, Md. - A Berlin man died following a crash in Salisbury.More
  • Police Investigating Deadly Hit and Run

    Police Investigating Deadly Hit and Run

    Saturday, December 15 2018 8:23 PM EST2018-12-16 01:23:42 GMT
    Saturday, December 15 2018 8:23 PM EST2018-12-16 01:23:42 GMT
    HARRINGTON, Del. (AP) - Delaware State Police are investigating a deadly hit-and-run crash that killed a pedestrian.More
    HARRINGTON, Del. (AP) - Delaware State Police are investigating a deadly hit-and-run crash that killed a pedestrian.More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices