Maryland’s State Opportunity Zone Enhancement Program Extended through 2026, Includes Minimum Wage Requirements for Businesses

Wednesday, May 13, 2020 - 9:15am

Legislation enacted in Maryland extends the state’s Opportunity Zone (OZ) Enhancement Program for five years, through 2026. H.B. 45 also limits eligibility for the biotechnology and cybersecurity investment incentive programs to companies that either began or moved into an OZ on or after March 1, 2018; requires OZ businesses to pay the greater of 120 percent of the state minimum wage or 120 percent of the county minimum wage; and changes some application and reporting requirements.