TOOLS, INCENTIVES, AND BEST PRACTICES
Incentive
Currently Available in Prince George’s County?
Potential Use
Façade Improvement Grants
Yes
Encouraging owners of commercial buildings to make small-scale façade improvements.
Federal and State Historic Rehabilitation Tax Credits
Yes
Helps owners of historic commercial buildings interested in building rehabilitation finance rehabilitation projects.
Forgivable Loans
Yes
Attracting high priority businesses.
Foundation Grants
Yes
Could help seed creation of revolving funds for business development and property redevelopment. Job training and small business training.
High Tech Real Property Tax Credit
Yes
High tech businesses interested in reusing shopping center space for operations.
Impact Fees to Guide New Development to Existing Commercial Centers
No
Discouraging development of new commercial space outside existing dense, mixed-use commercial centers.
Linked Deposit Program
Yes
Low-interest loans for MBEs/SBEs.
Maryland Economic Development Assistance Authority Fund
Yes
Redevelopment of distressed or defunct shopping centers, particularly for priority uses (such as arts/entertainment or child care centers).
Microenterprise Loan Program
Yes
Small-scale loans to business owners for business or property improvement.
Military Personnel + Veteran-Owned Small Business Loan Program
Yes
Veterans interested in launching or expanding a business.
Neighborhood Business Works Program
Yes
Small businesses and nonprofits interested in rehabilitating or redeveloping vacant or underused buildings for neighborhood benefit.
97 Prince George’s County Competitive Retail Market Strategic Action Plan