Calvert County Economic Development Authority Announces New Chair

PRINCE FREDERICK, Md., -- December 2, 1998 -- The Calvert County Economic Development Authority (EDA) announced today the election of Ms. Terri J. Wolfley, Vice President, NationsBank, as their new Chair. The EDA is the developer of the Calvert County Industrial Park. Ms. Wolfley has been a member of the EDA since 1995. The other members of the EDA are Christopher Reynolds, Kenneth Gerard, William Gray, Dr. James Hook and Dana Jones.

Ms. Wolfley holds an MBA in Accounting from Old Dominion University, Norfolk, Va., and a B.B.A. in Accounting from James Madison University, Harrisonburg, Va. and has held high level finance-related positions in the private sector for over 17 years.

"The first priority of the EDA continues to be sales of lots in the Calvert County Industrial Park," Wolfley said. "We have been very successful with the Free Land Incentive Program over the past year, contracting for three lots under that program and generating six conventional land sales because of the program. When the recently completed relocations of American Metal Fabrications, Burdette Woodworking and Jensen Press are added, the total new investment in Calvert County will be approximately $11 million dollars, with about 285 new jobs," Wolfley said. "1998 has been the best year in recent memory for EDA and I look forward to continuing to build on our success."

The Free Land Incentive Program was developed to attract technology firms to the County 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 is sold to them and a lien on the property recorded. No payment, other than expenses, is initially required. The property is valued at the price set by the EDA and the lien carries the prevailing interest rate. If the eligible firm meets or exceeds a set of benchmarks for employment and investment, then at the end of ten years, the lien would be removed and the debt forgiven.

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 provide significant financial benefits including: real and personal property 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 consists of 226 acres divided into 41 lots. The average lot size is 2.5 acres. The Park is located five miles west of Prince Frederick and 32 miles from the Patuxent River Naval Air Station. Less than 25 acres remain available for sale.

For more information please contact the Calvert County Department of Economic Development, 410.535.4583 or 800.331.9771, e-mail cced@co.cal.md.us.

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