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Seat Pleasant

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Transportation

The City of Seat Pleasant is centrally located East of Washington, DC with convenient access to transit and transportation options for residents and visitors.

COMMUTER

  100K every day each way in and out the city  

METRO

Blue and Silver Lines, served by two stations: Addison Road-Seat Pleasant Capitol Heights

AIRPORT

Baltimore Washington- 28mi Regan National- 12mi Dulles International- 46mi

CALL-A-BUS

Call-A-Bus is a curb-to-curb city service that provides transportation services available to all residents of Prince George’s County.

SMART CITIZENS

Education & Workforce

INSTITUTIONS
University of Maryland- 9mi   
Howard University- 8.8mi 
University of Maryland University College- 4.6mi 
Prince Georges Community College- 6mi
FORTIS- 5.3mi
DEGREE SNAPSHOT

EMPLOYMENT SNAPSHOT

Seat Pleasant and Prince Georges Community College have partnered together to construct a Smart Cities Certificate Program in the means to diversify and educate industry professionals. Download Course Summaries for more information. Visit https://www.pgcc.edu/ to enroll today!

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COURSE SUMMARIES-SMART CITIES CERTIFICATE PROGRAM.pdfDownload 

City Master Plan

For more information on The City of Seat Pleasant Master Plan, please visit: https://seatpleasantmd.gov/2018/09/19/the-city-of-seat-pleasant-master-plan/  

City Strategic Plan

For more information on The Strategic Plan for the City of Seat Pleasant for Fiscal years 2017-2019, please visit: https://seatpleasantmd.gov/download/seat-pleasant-strategic-plan/

City Information and communication strategic Plan

For more information on The City of Seat Pleasant Information and Communication Strategic Plan, please visit:

https://seatpleasantmd.gov/2019/04/12/the-information-and-communications-technology-strategic-plan/

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Meet with Economic Development
If you have a special request and or need to speak with the Economic Development team, please visit us at:

https://seatpleasantmd.gov/departments/economic-development/

 

Seat Pleasant Tax Incentive Package

Investors | Businesses | Developers

With these designations, The City of Seat Pleasant offers many tax benefits and investing opportunity tools to Investors, Businesses and Developers who are interested in starting or expanding a business in the city, spurring economic development in the city, and investing jobs and businesses in the city.

The City of Seat Pleasant was marked as an Opportunity Zone by the United States Treasury Department and the Governor of Maryland as of June 2018. This entitles investors with high, unrealized capital gains to cash in the appreciation of their gains while deferring the taxes on the gains If they redirect these gains into properties located in areas approved as Opportunity Zones. The illustration below reveals that an $100,000 investment of the proceeds from a realized capital gain from the sale of stock or any other qualified financial asset into a Qualified Opportunity Fund to purchase or renovate Opportunity Zones Property located in the City of Seat Pleasant for 10 years with a 15% annual rate of return, will generate $189,228 more cash than paying the capital gain tax of 37% and investing the remainder at 15% into a traditional investment.  *The illustration assumes a 15% annual return and 37% combined income tax bracket.
Seat Pleasant has been designated as a Maryland Enterprise Zone. Enterprise zones are often established in low-income areas or places that are recovering from disasters, such as a flood or hurricane. Reduced taxes or regulations, and in some cases special financing, encourage businesses to open the area and hire local residents. There are two types of tax credit firms that a Maryland Enterprise Zone may claim: 1. General Income Tax Credits 2. Large State Income Tax Credits (for hiring economically disadvantaged employees.)   *Sole proprietorship, corporations and pass-through entities such as partnerships, subchapter S Corporations, limited liability companies, and business trust may claim these credits.
In 2010, The State of Maryland awarded the City of Seat Pleasant the designation of “Sustainable Community”. As a Sustainable Community the city qualifies for funds under the following State Programs to foster economic development: 1. Community Legacy Program 2. Neighborhood Revitalization 3. Strategic Demolition (Statewide) 4. Planning Assistant 5. Open Space   Under the Sustainable Community Designation, the City of Seat Pleasant may apply for funding to cover a developer’s soft costs for marketing studies, architectural drawings or renderings. Below, an illustration of how the state and local tax credit associated with the City of Seat Pleasant as a Focused Enterprise Zone would work for a project with the following current factors:

  1.  New residential property improvements assessed at $38,000,000.  
  2. New business inventory and equipment assessed at $500,000 
  3. The hiring of 35 new economically disadvantaged employees. 
CITY TAX INCENTIVE MIXTURE FOR THE PROJECT   
                                                                                        
 NonResidential Estimated Value After Projects $31,540,000.000                                                                                                                 
Seat Pleasant being located in a Focus Enterprise Zone and provides the following tax credit as offsets to non-residential improvements assessed at $38,000,000 after 10 years. 
I. Real Estate Tax Credit   
Year                                         
1            25,232,000 
2            25,232,000 
3            25,232,000 
4           25,232,000 
5              25,232,000 
6          25,232,000 
7          25,232,000 
8          25,232,000 
9          25,232,000 
10          25,232,00010
Estimated Value of New Plant & Equipment of $2,500,000     
I. Federal Corporation Income Tax Write Off  
Year
2,500,000 
II State  Corporation Income Tax Write-Offs
Year
1 2,500,00
III. State Tax Credit  
35 new jobs created for disadvantages 
Year
1 $ 105,000
2    105,000
3    105,000
Total State Tax Credit over a threeyear period                                             $ 315,000
IV. New Job Creation Tax Credit  
35 new jobs created
Year
1 $ 175,000
Total New Jobs Creation Tax Credit $ 175,000
Total Potential State and Local Tax Credits over ten years    Total $ 259,810,000
On January 23, 2013 five Health Enterprise Zones were designated by Lieutenant Governor Anthony Brown in the State of Maryland. The five Health Enterprise Zones were: 

  1. Capital Heights in Prince’s County
  2. Greater Lexington Park inSaint Mary’s County
  3. Dorchester and Caroline Counties
  4. West Baltimore
  5. Annapolis

Areas designated as Health Enterprise Zones have access to a range of incentives that include state income tax credits; hiring tax credits; loan repayment assistance; priority entrance into the state’s Patient Centered Medical Home Program; priority for available state electronic health record grant funding; additional grant funding from the Community Health Resources Commission; and capital grant support.    Jointly administered by the Community Health Resources Commission (CHRC) and Maryland Department of Health and Mental Hygiene (DHMH), the HEZ Investment Initiative is a four-year pilot program with a budget of $4 million per year.   A Specific HEZ investment initiative for the Capital Height area is a Prince George’s Health Departmentin the Seat Pleasant and Capital Heights Area: The proposal submitted by Prince George’s County Health Department focuses on Seat Pleasant and Capitol Heights surrounding areas. This proposal would create five new patient-centered medical homes in the Zone to serve a minimum of 10,000 residents, and would add a total of 25 new providers. 

In 1997, Congress passed the Small Business Administration Reauthorization Act (Public Law 105-135), which included provisions designed to promote economic development and employment opportunities in metropolitan or rural areas with low income, high poverty rates, and/or high unemployment rates. Title VI of the Act established the Historically Underutilized Business Zone (HUBZone) program to target federal contracts to small businesses that are located in these areas. There are five classes of HUB Zones:

  1. Qualified census tracts (QCTs), 2. Qualified counties, 3. Indian reservations, 4. Difficult development areas (DDAs), and 5. Military bases closed under BRAC.

The HUBZone program has three mechanisms for targeting contracts to HUBZone businesses: set-asides, sole source awards, and price preferences.

On the local level as part of the city’s tax incentives, there are two types of tax credits that are available to firms locating its business or investment funds in a Maryland Focused Enterprise Zone: 1. Business Personal Property Tax Credit  Any new or existing Businesses investing in new plants and equipment in the City of Seat Pleasant may claim a business personal property tax credit entitling them, over a 10-year period, to an 80% reduction in their taxes on these investments in new fixed assets over a 10-year period. An illustration is highlighted below depicting how the Business Property Tax Credit operates: If a new business entering the city invests $10,000 each year for the next ten years in new technology or health business equipment, then the business would be eligible to apply for a reduction of 80% in its personal property tax bill for each of the ten years. This is 80% tax reduction will allow the business to add cash back its working capital.  2. Real Estate Tax Credit for New Construction  Any real estate developer owning real property in the City of Seat Pleasant and that expends funds on any new construction or improvement to nonresidential units in the City of Seat Pleasant may claim a 10 year Real Property Tax Credit of 80% to reduce his or her real property taxes resulting from this investment in new construction or improvement to his or her real property.   To qualify, an entity must:  1. Be primarily involved in high technology manufacturing, fabrication, assembling, or research and development, as determined by the County and the City applying the criteria set forth in the regulations; 2. Construct, expand, or cause to be constructed or expanded, a building or buildings within the County or City, to include at least 5,000 square feet of gross floor area (as defined in Subtitle 27 of this Code) to be occupied by the said business entity;  3. Invest at least $500,000 in the construction or expansion of said building or buildings; and  4. Create at least ten (10) new permanent, full-time positions for the said business entity to be located within said building or buildings.  Neither the relocation of an existing position from any other location within the County or the City to the new or expanded building or buildings nor the reclassification of a preexisting position shall constitute new positions for the purposes of this Section. 
On the state level as part of the city’s tax incentive, there are three types of state income tax credits that are available to firms locating its business in a Maryland Focused Enterprise Zone: 1. General Income Tax  The first job creation tax incentive for a business owner(s) is the General Income Job Tax Credits for creating new jobs. The General Income Job Tax Credits works like this: If a Corporation hires a new employee living in the City of Seat Pleasant when it locates its business or has a business in the City of Seat Pleasant a Maryland Focus Enterprise Zone, the corporation would be entitled

  1. To a federal tax credit of $3,000
  2. To a state tax credit of $1,5000 *
  3. To a county tax credit to offset the local piggyback tax rate
  4. To a municipal tax credit to offset the local piggyback tax rate

*If a Corporation hires a new employee when it locates its business in the City of Seat Pleasant, a Maryland Focused Enterprise Zone, the corporation would be entitled to a one-time tax credit of $1,500. If the corporation’s income tax liability is $1,500 over a one-year period, the tax credit would lower the business tax liability of the corporation to zero over the one-year period and return $1,500 in cash to the corporation’s balance statement.  2. Large State Income Tax  If a Corporation hires a new economically disadvantaged employee living in the city of Seat Pleasant when it locates its business in the City of Seat Pleasant a Maryland Focus Enterprise Zone, the corporation would be entitled  

  1. To a state tax credit of $9,000 over a three-year period *
  2. To a county tax credit equal to the county piggyback rate
  3. To a municipal tax credit equal to the municipality’s piggy-back-rate. 

*If a Corporation hires a new employee when it locates its business in the City of Seat Pleasant, a Maryland Focus Enterprise Zone, the corporation would be entitled to a tax credit of $9,000 over a three year period for hiring a new economically disadvantaged employee. If the corporation income tax liability is $9,000 over a three year period, the tax credit would lower the business taxes for the corporation to zero over the three year period and return $9,000 in cash to the corporation’s balance statement.  3. New Jobs Creation Tax Credits  Listed below is an illustration of how the New Job Creation Tax Credit for hiring economically disadvantaged employees works:  If a Corporation hires a new employee when locating its business in the City of Seat Pleasant, a Maryland Focus Enterprise Zone. By locating the business in a Focused Enterprise Zone under the New Job Creation Tax Credit Program, the corporation would be entitled to a one-time tax credit of $5,000. If the corporation’s income tax liability is $5,000 in the current year period, this tax credit would lower the business taxes for the corporation to zero during the current year period and return $5,000 in cash to its corporation balance sheet.   *Sole proprietorship, corporations, and pass through entities such as partnerships, subchapter S Corporations, limited liability companies and business trusts may claim these credits.  

On the federal level as part of the city’s tax credit incentives, there are tax credits, abatements, and set aside contracts available to firms locating its business or investment funds in the Seat Pleasant Focused Enterprise Zone: 1. Opportunity Zone Tax Deferrals or Abatements  The City of Seat Pleasant was designated as an Opportunity Zone by the Unites States Treasury Department and the Governor of Maryland as of June 2018. This entitles investors with high unrealized capital gains to cash in the appreciation of their gains, while deferring the taxes on the gains if they redirect these gains into properties located in areas approved as Opportunity Zones.  The City of Seat Pleasant was designed as a Opportunity Zones to spur economic development by providing tax benefits to investors. 

  • First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026.   If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain.  If held for more than 7 years, the 10% becomes 15%.   
  • Second, if the investor holds the investment in the Qualified Opportunity Fund for at least ten years, the investor is eligible for an increase if the basis of the QOF investment is equal to its fair market value on the date that the QOF investment is sold or exchanged.

2. New Markets Tax Credits (NMTC)  The credit provides an incentive for investment in low-income communities. The US Department of the Treasury competitively allocates tax credit authority to intermediaries that select investment projects. Investors receive a tax credit against their federal income tax.  NMTC in the city of Seat Pleasant:  NMTC investors provide capital to community development entities (CDEs), and in exchange are awarded credits against their federal tax obligations. Investors can claim their allotted tax credits in as little as seven years—5 percent of the investment for each of the first three years and 6 percent of the project for the remaining four years—for a total of 39 percent of the NMTC project. A CDE can be its own investor or find an outside investor. Investors are primarily corporate entities—often large international banks or other regulated financial institutions—but any entity or person is eligible to claim NMTCs.  3. HUB Zones Contract, Set-Asides, and Price Concessions  In 1997, Congress passed the Small Business Administration Reauthorization Act (Public Law 105-135), which included provisions designed to promote economic development and employment opportunities in metropolitan or rural areas with low income, high poverty rates, and/or high unemployment rates. Title VI of the Act established the Historically Underutilized Business Zone (HUB Zone) program to target federal contracts to small businesses that are located in these areas. In 2004 and 2005, Congress designated two additional classes of HUB Zones: Indian lands and military bases closed under the Base Realignment and Closure (BRAC) Act. As a result of these changes there are now five classes of HUB Zones: 

  1. Qualified census tracts (QCTs), 2. Qualified counties,  3. Indian reservations,  4. Difficult development areas (DDAs), and 5. Military bases closed under BRAC. 

The City of Seat Pleasant is in a qualified HUB Zone and any business located in the city that is minority owned and whose owners live in the city can apply to become a HUB Zone certified business.   The HUB Zone program has three mechanisms for targeting contracts to HUB Zone certified businesses: 

  1. Set asides,
  2. Sole source awards
  3. Price preferences.

In the eight-year period from FY2000 through FY2007, there have been about 21,350 contracts totaling $6.28 billion awarded through the three HUB Zone mechanisms.   

Tax Incentive for business owners who invest in building, plant, and equipment   in the City of Seat Pleasant may claim:  1.Tax Write-offs on the Corporate Incomes Taxes on Federal, State, County and City levels.  2. Tax Credits on the Municipal or City Business Personal Property Tax.   Tax Write-offs on the Federal, State, County and City Corporate Income Tax Returns and Municipal or City Business Personal Property Tax works in the following manner: Any new or existing Businesses investing in new plants and equipment in the City of Seat Pleasant may claim a 100% write off for the year that the business purchased the equipment. An illustration is highlighted below depicting how the Business Property Tax Credit operates on the federal level.  If a new business owner locating in the city invests $ 10,000 this year in new business equipment, then the businesowner would be eligible to write all this cost off its federal, state and county income taxes when filing their business income tax return for that year.   As for how the Business Personal Property Tax Credit works for a business owner investing in new plant and equipment, this is how the Business Personal Property Tax Credit works: Any new or existing Businesses investing in new plants and equipment in the City of Seat Pleasant may claim a business personal property tax credit entitling them, over a 10-year period, to an 80 % reduction in their taxes on their investments in new fixed assets over a 10-year period. An illustration is highlighted below further depicting how the Business Property Tax Credit operates.   If a new business entering the city invests $ 10,000 each year for the next ten years in new technology or health business equipment, then the business would be eligible to apply for a reduction of 80% in its personal property tax bill for each of the ten years. This is 80% tax will allow the business to add cash back to its working capital.       

Location of Opportunity Zones, Hub Zones, and Other Tax Incentive Designation Areas

Click Here to access PG Atlas for GIS Mapping of the Incentive Designated Zones.

Once in PGAtlas, select the “Layers” button in the top right, then select “Administrative”, then select the Incentive Designation you are interested in (i.e. “Hub Zone”, “Opportunity Zone”, etc)

TEST BED OF INNOVATION

Seat Pleasant sits as one of the staple Smart Cities in development seeking established companies, startups, investors, and entrepreneurs who have created technological solutions to some of the many issues we face in communities today. We invite you to the “Smart City of Excellence” to catalyze your business ventures today.

 

 

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F.A.Q.

Common Questions

What are General Income Tax Credit for hiring new employeeS?
The best way to explain the General Income Tax Credit for hiring new employees is by highlighting below how the General Income Tax Credit works:

  • If a Corporation hires a new employee when it locates its business in the City of Seat Pleasant, a Maryland Focused Enterprise Zone, the corporation would be entitled to a one-time tax credit of $1,500. If the corporation’s income tax liability is $1,500 over a one-year period, the tax credit would lower the business tax liability of the corporation to zero over the one-year period and return $1,500 in cash to the corporation’s balance statement.
What are Large State Income Tax Credit for hiring economically disadvantaged employees?
Listed below is an illustration of how the Large State Income Tax Credit for hiring economically disadvantaged employees works:

  • If a Corporation hires a new employee when it locates its business in the City of Seat Pleasant, a Maryland Focus Enterprise Zone, the corporation would be entitled to a tax credit of $9,000 over a three year period for hiring a new economically disadvantaged employee. If the corporate income tax liability is $9,000 over a three year period, the tax credit would lower the business taxes for the corporation to zero over the three year period and return $9,000 in cash to the corporation’s balance statement.
What are New Job Creation Tax Credit for hiring economically disadvantaged employees?
Listed below is an illustration of how the New Job Creation Tax Credit for hiring economically disadvantaged employees works:

  • If a Corporation hires a new employee when locating its business in the City of Seat Pleasant, a Maryland Focus Enterprise Zone. By locating the business in a Focused Enterprise Zone under the New Job Creation Tax Credit Program, the corporation would be entitled to a one-time tax credit of $5,000. If the corporation’s income tax liability is $5,000 in the current year period, this tax credit would lower the business taxes for the corporation to zero during the current year period and return $5,000 in cash to its corporation balance sheet.

Sole proprietorship, corporations, and pass-through entities such as partnerships, subchapter S Corporations, limited liability companies, and business trusts may claim these credits.

What Is a Business Personal Property Tax Credit?
Any new or existing Businesses investing in new plants and equipment in the City of Seat Pleasant may claim a business personal property tax credit entitling them, over a 10-year period, to an 80 % reduction in their taxes on these investments in new fixed assets over a 10-year period.   An illustration is highlighted below depicting how the Business Property Tax Credit operates: If a new business entering the city invests $10,000 each year for the next ten years in new technology or health business equipment, then the business would be eligible to apply for a reduction of 80% in its personal property tax bill for each of the ten years. This is 80% tax reduction will allow the business to add cash back its working capital.
What are Real Estate Tax Credits for New Construction?
Any real estate developer owning real property in the City of Seat Pleasant and that expends funds on any new construction or improvement to nonresidential units in the City of Seat Pleasant may claim a 10 year Real Property Tax Credit of 80% to reduce his or her real property taxes resulting from this investment in new construction or improvement to his or her real property.    To qualify, an entity must:

  1. Be primarily involved in high technology manufacturing, fabrication, assembling, or research and development, as determined by the County and the City  applying the criteria set forth in the regulations;
  2. Construct, expand, or cause to be constructed or expanded, a building or buildings within the County or City, to include at least 5,000 square feet of gross floor area (as defined in Subtitle 27 of this Code) to be occupied by the said business entity;
  3. Invest at least $500,000 in the construction or expansion of said building or buildings; and
  4. Create at least ten (10) new permanent, full-time positions for the said business entity to be located within said building or buildings.  Neither the relocation of an existing position from any other location within the County or the City to the new or expanded building or buildings nor the reclassification of a preexisting position shall constitute new positions for the purposes of this Section.
what are Opportunity Zones Tax Deferrals or Abatements?
The City of Seat Pleasant was designated as an Opportunity Zone by the United States Treasury Department and the Governor of Maryland as of June 2018. This entitles investors with high unrealized capital gains to cash in the appreciation of their gains while deferring the taxes on the gains if they redirect these gains into properties located in areas approved as Opportunity Zones.   The City of Seat Pleasant was designed as Opportunity Zones to spur economic development by providing tax benefits to investors.

  • First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026.   If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain.  If held for more than 7 years, the 10% becomes 15%.  
  • Second, if the investor holds the investment in the Qualified Opportunity Fund for at least ten years, the investor is eligible for an increase if the basis of the QOF investment is equal to its fair market value on the date that the QOF investment is sold or exchanged.
What Is a New Market Tax Credit (NMTC) and How Does the Tax Credit work in the City of Seat Pleasant?
The credit provides an incentive for investment in low-income communities. The US Department of the Treasury competitively allocates tax credit authority to intermediaries that select investment projects. Investors receive a tax credit against their federal income tax. NMTC investors provide capital to community development entities (CDEs), and in exchange are awarded credits against their federal tax obligations. Investors can claim their allotted tax credits in as little as seven years—5 percent of the investment for each of the first three years and 6 percent of the project for the remaining four years—for a total of 39 percent of the NMTC project. A CDE can be its own investor or find an outside investor. Investors are primarily corporate entities—often large international banks or other regulated financial institutions—but any entity or person is eligible to claim NMTCs.
what is the purpose of Health Enterprise Zone (HEZ) Investment Initiative?
The purpose of the HEZ Investment Initiative are to: 1. Reduce health disparities among racial and ethnic minority populations and among geographic areas; 2. Improve health care access and health outcomes in underserved communities; 3. Reduce health care costs and hospital admissions and re-admissions.   
How does a Sustainable Community Designation receive Funding?
Under the Sustainable Community Designation, the City of Seat Pleasant may apply for funding to cover a developer’s soft costs for marketing studies, architectural drawings or renderings.
What is a Qualified Opportunity Fund?
A Qualified Opportunity Fund is an investment vehicle that is set up as either a partnership or corporation for investing in eligible property that is located in a Qualified Opportunity Zone. 
Does an Investor need to live in Seat Pleasant to take advantage of the tax benefits?
No, you can get the tax benefits even if you don’t live, work or have a business in an Opportunity Zone. All you need to do is invest a recognized gain in a Qualified Opportunity Fund and elect to defer the tax on that gain. Along with the tax benefit associated with the Opportunity Zones program outlined about the city can also use New Market Tax Credit to attract high net worth investors looking for tax concessions.
Does an Investor need to live in Seat Pleasant to take advantage of the tax benefits?
No. You can get the tax benefits, even if you don’t live, work or have a business in an Opportunity Zone. All you need to do is invest a recognized gain in a Qualified Opportunity Fund and elect to defer the tax on that gain. Along with the tax benefit associated with the Opportunity Zones program outlined about the city can also use New Market Tax Credit to attract high net worth investors looking for tax concessions.
is THE CITY OF SEAT PLEASANT a qualified HUB Zone?
The City of Seat Pleasant is in a qualified HUB Zone and any business located in the city that is minority owned and whose owners live in the city can apply to become a HUB Zone certified business. The HUB Zone program has three mechanisms for targeting contracts to HUB Zone certified businesses: 1. Set-asides 2. Sole source awards 3. Price preferences   In the eight-year period from FY2000 through FY2007, there have been about 21,350 contracts totaling $6.28 billion awarded through the three HUB Zone mechanisms.
What are the Guidelines for Federal Level Tax Incentives?
  • Economic Impact – Measurable outcomes such as job creation and retention, broadening of the commercial tax base, increasing industry and commerce, job growth, promoting local, minority and small business development
  • Alignment with City  development goals and priorities – Project adequately reflects the articulated goals for revitalization and is located in or adjacent to the developed tier and key strategic areas
  • “But for” test – Demonstration that the project would not move forward without an offering of public incentives from the City.
  • Ability to leverage private funds, federal and state financial support, and incentive programs for strategic economic development opportunities for the Federal State, County, and City

  All investors are vetted for consistency with statutory goals and purposes of the program, with an independent review of credit and financial soundness of the borrower, and projections. To 

How do i apply for a business license?
To apply for a business license please visit https://seatpleasantmd.gov/project/business-license-application/
What is the economic development revolving loan fund?
The purpose of the ED-RLF is to assist with business financial needs that will create and retain employment opportunities in the City of Seat Pleasant; with major emphasis on employment for persons from low-to-moderate income households.    For application and eligibility information please visit https://seatpleasantmd.gov/departments/economics-development/  
What is tHe EB5-visa program?
The United States EB-5 visa, employment-based fifth preference category or EB-5 Immigrant Investor Visa Program, created in 1990 by the Immigration Act of 1990, provides a method for eligible Immigrant Investors to become lawful permanent residents — informally known as “green card” holders — by investing at least $1,000,000 to finance a business in the City of Seat Pleasant that will employ at least 10 American workers. Most immigrant investors who use the EB-5 program can invest in a targeted employment area (TEA) such as the City of Seat Pleasant an area of high unemployment.  The investment threshold has been lowered to $500,000. The EB-5 program is intended to encourage both “foreign investments and economic growth. The EB-5 program is intended to encourage both “foreign investments and economic growth. The EB-5 Immigrant Investor Visa Program is one of five employment-based (EB) preference programs in the United States. Immigrant investors have the choice of investing individually in target areas such as City of Seat Pleasant or they can choose to work through a larger investor pool via regional centers (RC). Regional centers are federally approved third-party intermediaries that “connect foreign investors with developers in need of funding, and channel these investment into target areas such as the City of Seat Pleasant.  
WHATS THE DIFFERENCE BETWEEN AN OPPORTUNITY ZONE INVESTMENT VERSUS A NON-OPPORTUNITY ZONE INVESTMENT?
By clicking this module, an illustration of the tax saving on a capital gain investment o $100,000 into an opportunity fund for properties in an opportunity zone investment versus cashing in the gains now and paying the taxes and place the balance into a non-opportunity zone asset yielding 15% over a ten-year period. The illustration assumes a 15% annual return and 37% combined income tax bracket.       

BECOME A PARTNER

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The City of Seat Pleasant would like to officially partner with your organization.

But before we can sign an agreement of any kind or confirmation letter, the city needs to assure that as a non-profit organization you must comply with the following listed below. Please provide proof of each item by uploading required documents.
Please provide your most current website.

PREFERRED VENDOR APPLICATION

Register to be on our Preferred Vendors List

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