Baltimore | Resource Profiles

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Regional Institution Strategic Enterprise (RISE) Zone Program

Other

Description

A RISE Zone is a geographic area that has nexus (a strong connection) with a qualified institution and is targeted for increased economic and community development. Qualified institutions include institutions of higher education, regional higher education centers or non-profits affiliated with a federal agency.The purpose of the RISE Zone program is to access institutional assets that have a strong and demonstrated history of commitment to economic development and revitalization in the communities in which they are located. Qualified institutions and local governments develop a targeted strategy to use the institutional assets and financial incentives to attract businesses and create jobs within the zone.A RISE Zone designation will be in effect for 5 years, with a possible additional 5-year renewal. Counties and municipalities are limited to a maximum of three RISE Zones.

Tags

Tax Credit, Location-Based

Resource Providers:

Governmental

As the state's primary economic development agency, we stimulate private investment and create jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. Commerce also promotes the state's many commercial advantages and its outstanding quality of life to spur economic development, international investment, trade and tourism.

Maryland Department of Commerce

Affiliated Ventures:

Resource Details
For Startups
For Nonprofits
For Small Businesses

A RISE Zone is a geographic area that has nexus (a strong connection) with a qualified institution and is targeted for increased economic and community development. Qualified institutions include in…

Earliest Stage Served:
Latest Stage Served:
All Stages Served:
Unspecified
Industries Served:

Education, Government, Nonprofits, Higher Education