Funded through the State of Maryland’s Video Lottery Terminal (VLT) loan program, loans are available to small, minority, and woman-owned businesses.  MCEDC partners with the Latino Economic Development Center (LEDC) as our fiduciary partner to assist eligible small businesses in underserved communities. The program is open to small, woman, and minority-owned businesses across the state of Maryland

Businesses that have qualified R&D expenditures in Maryland may qualify for the R&D Tax Credit. The tax credit is equal to ten percent (10%) of eligible R&D expenses incurred during the taxable year in excess of the Maryland Base Amount. If the total credits applied for exceed the statutory caps, the business’s R&D tax credit is prorated. The total statutory cap is $12 million with a small business set-aside of $3.5 million.  A single applicant may not receive a tax credit exceeding $250,000.

This six-year credit is available to businesses that increase their space by at least 5,000 square feet and their employee count by at least 25 new jobs. Businesses that are already resident in the County or that are moving from outside of Maryland are eligible to apply. The credit is not available to businesses that move to Montgomery County from another Maryland county or from Baltimore City, and it is not available to retailers. The company must hire the 25 new permanent full-time employees during a 24 month period during which the company takes possession of the new or expanded premises.

Provides grants for infrastructure projects to advance innovation and growth in eligible technology sectors. Grants may be awarded to private companies, nonprofit entities, local governments, or colleges and universities.

International companies opening their first office, lab or coworking space in the U.S. or first East Coast operation can receive up to $10,000 to reimburse their initial business registration, rent and other costs related to locating in Montgomery County innovation space.

Companies seeking funding, facilities, resources, and expertise within Maryland’s public universities to create new products and opportunities can apply for MIPS funding to support up to $90,000 of a $100,000 project.