It would require businesses that expand and provide new jobs to pay ‘family sustaining’ wages.
Frederick, Md (KM) Some changes are being proposed to Frederick County’s tax credit for businesses that expand and create new jobs. County Executive Jessica Fitzwater says companies which benefit from the tax credit would have to create new jobs that have family-sustaining wages.
“Frederick County’s economic development tools should reflect our community values. By aligning the New Jobs Tax Credit with regional livable wages, we are ensuring that public incentives support the creation of quality jobs—ones that allow residents to thrive, not just get by. This legislation is a meaningful step toward a more equitable and sustainable local economy,” says Fitzwater, in a statement.
Currently, businesses that expand in Frederick County may be eligible for the tax credit if they expand in priority funding areas, and create at least 25 full time jobs over a two-year period. In order to be eligible, businesses are currently required to pay employees 150 percent of the federal minimum wage which is about $10.86 per hour Under this proposed legislation, the businesses that expand and create new jobs would be required to pay the “average wage” for the Frederick region which is approximately $30 per hour, according to the county.
The County Executive says this bill will be presented during a County Council workshop on Tuesday, November 25th.
By Kevin McManus