Key city board OKs expanding enterprise zone in E. Baltimore

Schmoke views expansion as tool in keeping GM plant

April 08, 1999|By Ivan Penn | Ivan Penn,SUN STAFF

The Board of Estimates approved a proposal yesterday to double the size of the East Baltimore Enterprise Zone as a way to give tax breaks to businesses in a key industrial area that includes the General Motors plant on Broening Highway.

"One of the major economic development projects for all of the elected officials in this state is retaining the General Motors plant," Mayor Kurt L. Schmoke said.

"The enterprise zone gives us another tool to provide incentives."

The area proposed for the expansion of the enterprise zone is bounded by Pulaski Highway on the north, the city-Baltimore County line on the east, along the shoreline on the south and Ponca Street and Interstate 895 on the west.

With the Board of Estimates' backing, the expansion proposal goes to the state Department of Business and Economic Development for final approval.

The state uses the enterprise zone program, created in 1982, to foster economic development in urban and suburban areas by giving property and income tax credits to new businesses as well as established businesses that create jobs or make improvements.

"These are valuable economic development tools for us," said M. J. "Jay" Brodie, president of the Baltimore Development Corp., the quasi-public economic development agency for Baltimore.

"Our ambition over time is to see that this benefit is spread throughout the city."

Pub Date: 4/08/99

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