Economic Development Commercial Corridor Program
The Economic Development Commercial Corridor Program (Program) was established in October 2016. The purpose of the Program is to support City businesses and serve as a means for business growth in the City of Laurel resulting in increased job opportunities, an expanded tax base and an improved quality of life. The target areas for the Program are the following Revitalization Overlay Areas along US Route 1: RO-1- City Center, RO-2-Highway Corridor and RO-3-Route One Historic District and Gateway Approaches.
The Intent of the Program is to:
- Recruit new businesses to locate to the City of Laurel and assist in the expansion of existing businesses.
- Anticipate and address workforce development needs of the city’s business community.
- Provide advocacy for businesses undergoing development review and permitting.
- Provide incentives for redevelopment and revitalization along identified commercial properties.
Qualified Properties can receive the following Program Incentives:
- Reduced building permit fees for revitalization and new construction.
- Expatiated Site Plan Review.
- Real Property Tax Credit.
- Business Personal Property Tax Credit.