Free Land Incentive Announced by the Calvert County Economic Development Authority

PRINCE FREDERICK, Md., -- October 1, 1997 -- The Calvert County Economic Development Authority (EDA) announced today that they will offer, as an incentive to the County's target industries, a free land program at the Calvert County Industrial Park (CCIP).

This incentive package was developed to attract technology firms to the County in an effort to stimulate economic development and new construction in the Park, increase employment opportunities for Calvert's citizens and to introduce Calvert County's target industries to an alternative business location in the Greater Washington Region. The County's target market industries include: Computer Programming, Software Development and Related Services; Administrative Service Centers; Defense Related Services; and Non-Defense Professional Services.

For the select users who qualify for this program, land in the Park would be sold to them and a lien on the property recorded. No payment, other than expenses, would be initially required. The property will be valued at the price set by the EDA and the lien would carry the prevailing interest rate. Current property values as determined by the EDA are $55,000 per acre for back lots and $75,000 per acre for front lots.

To qualify for the program, companies must demonstrate that they fall within the County's target market industries, meet the pre-determined set of criteria and match one of the Standard Industrial Classifications (SIC) identified as a target market industry by Calvert County. Businesses will also be required to:

• Begin construction of a new facility within two years;
• Hire the agreed upon number of employees;
• Maintain employment and ownership for 10 years; and
• Provide an initial investment of $.5M in Calvert County.

If the property is sold or otherwise changes ownership, except in limited cases, or employment levels are not maintained, payment will be due to the EDA under the terms originally negotiated.

As the largest, full-scale industrial property in the County, the Calvert County Industrial Park is one of 13 Maryland State Enterprise Zones and is the only Enterprise Zone in southern Maryland. Maryland Enterprise Zones providesignificant financial benefits including: real and personalproperty tax credits, corporate income tax credits, employment tax credits, Enterprise Zone access to a Loan Guarantee Fund and special provisions for industrial loans.

The Calvert County Industrial Park is 226 acres divided into 41 lots; the average size of those lots is 2.5 acres. The Park is located five miles west of Prince Frederick, MD and 32 miles from the Patuxent River Naval Air Station. The Park is located on Route 231, adjacent to the Patuxent River. Major transportation routes include MD Route 4, 5, 235 and U.S. 301 are immediately accessible and I-95 is less than 40 miles from the Park.

The Calvert County Department of Economic Development maintains a list of the Standard Industrial Classifications on behalf of the EDA. To obtain more information, interested parties are asked to contact the Department at 410/535-4583, e-mail cced@co.cal.md.us. The EDA is responsible for promoting quality economic development County-wide and is the sole owner and manager of the Calvert County Industrial Park.

For more information on the Calvert County, Maryland Department of Economic Development, our visitor sites and attractions and the services available to assist County businesses, call 410.535.4583, 800.331.9771 or 301.855.1880; or send an e-mail to info@ecalvert.com