SNOW HILL, Md. -- Roughly 230 acres throughout Snow Hill have been designated as an enterprise zone. The town held enterprise zone status before, and businesses will now have another 10 year period to take advantage of tax incentives.
Rick Pollitt, Snow Hill's town manager, said one of the main incentives will be for incoming businesses.
"It is a property tax incentive, for a period of that 10 years their property taxes are abated while they're allowed to get on their feet, get organized, get their product underway and establish some roots in town," said Pollitt.
Pollitt went on to say it can entice current businesses to stay put.
"There's also a benefit based on the number of people you hire, there are income tax incentives as well, they go back to the business based on employment," said Pollitt.
At the moment, one-third of commercial buildings in Snow Hill are either vacant or underutilized. What is more promising though, are the "coming soon" signs on multiple buildings.
Shanan Rogers and Summer Bowden will be opening The Golden Clover Cafe in the next couple of weeks, and the thought of tax incentives are enticing.
"It's a great bonus, especially for small business, especially being a family run business," said Rogers.
James Chartier, who plans to open Hansen's Craftory by the beginning of August, is hoping other businesses follow suit and said the enterprise zone should help pave the way.
"It incentivizes the owners of the buildings to bring businesses in, which is really nice for the other businesses," said Chartier. "The more businesses they can bring in here, the better."
DelVecchio's Bakery has been in Snow Hill for three years. Joseph DelVecchio said anything that helps drive current and future businesses forward will be good for the town.
"If there's tax incentives for businesses that are here that's great too, tax incentives for new businesses, awesome, but everybody I think should be incentivized to keep going," said DelVecchio.
Pollit said after the 10 year period is up, businesses will begin gradually picking up their tax payments.