A Maryland Entrepreneur's Guide Up 1.1 - Wikimedia...angel groups to want to invest locally as opposed to nationally. Some active angel groups are more likely to invest in firms that

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AMarylandEntrepreneur'sGuideAconciseguidetofederalandMarylandfinancingandsupportprogramsfor

emergingcompaniesContributedbytheMarylandStateBarAssociation

http://www.msba.org/sec_comm/sections/business/index.htm

Chapter1‐PrivateFinancingProgramsThereareseveraltypesofearly‐stageprivateequityavailableforbusinessentrepreneurs.

Otherthanyourpersonalfunds,therearethefollowingsources:

Chapter2‐MarylandFinancingPrograms

ThestateofMarylandhas,amongothers,thefollowingstatesponsoredfinancingprogramsforentrepreneurstopossiblyaccess:

Chapter3–FederalFinancing

FinancingProgramsprovidedbytheU.S.FederalGovernment:

Chapter4–Incubators

UniversityandNon‐UniversityIncubators,IncubationAssociations:

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Chapter5–BusinessEnterprisePrograms

State&CountyBusinessEnterprisePrograms:

Chapter6–OpportunitiesforBusinessGrowth

Businessassociations,counsels,chambersofcommerceandotherbusinesssupportgroups:

Chapter7–TaxCreditandIncentivePrograms

Specialzoningandtaxcreditprograms:

Contents:1PRIVATEFINANCINGPROGRAMS1.1Introduction1.1.1Early‐StatePrivateEquity1.2AccessingEarly‐StagePrivateEquity

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1.2.1ActiveAngelGroups1.2.2Mid‐AtlanticVentureAssociation("MAVA")1.2.2.1Programs1.2.3SpringboardEnterprises2MARYLANDFINANCINGPROGRAMS2.1MarylandSmallBusinessDevelopmentFinancingAuthority(MSBDFA)2.1.1ContractFinancingProgram(CFP)2.1.2GuarantyProgram(GP)2.1.3EquityParticipatingInvestmentProgram(EPIP)2.1.4SuretyBondProgram(SBP)2.2MarylandIndustrialDevelopmentFinancingAuthority(MIDFA)2.2.1MIDFAFinancialAssistanceundertheConventionalProgram2.2.2EligibilityCriteria2.2.3ApplicationProcess2.2.4SpecialConditions2.2.5UseofProceeds2.2.6InterestRates2.2.7TermoftheLoanGuaranty2.3MarylandIndustrialPartnerships(MIPs)2.3.1EligibilityCriteria2.3.2Funding2.3.3ApplicationProcess2.4DepartmentofBusiness&EconomicDevelopmentInvestmentPrograms2.4.1ChallengeInvestmentProgram2.4.2EnterpriseInvestmentFundProgram2.4.3Applications2.5CountyandLocalSupport2.5.1BaltimoreCity‐BaltimoreDevelopmentCorporation(BDC)2.5.2AnneArundelCounty–EconomicDevelopmentCorporation2.5.3BaltimoreCounty–DepartmentofEconomicDevelopment2.5.4CarrollCountyDepartmentofEconomicDevelopment2.5.5CecilCounty‐OfficeofEconomicDevelopment2.5.6HarfordCounty‐OfficeofEconomicDevelopment2.5.7HowardCounty‐EconomicDevelopmentAuthority2.6OtherCountyEconomicDevelopmentOffices2.7MarylandAssistancetoAgriculturalBusiness2.7.1MarylandAgriculturalandResource‐BasedIndustryDevelopmentCorp(MARBIDCO)2.7.2OtherMarylandAgricultureAssistance3FEDERALFINANCINGPROGRAMS3.1U.S.SmallBusinessAdministration(SBA)GuarantyandLoanPrograms3.1.1SBAGenerally3.1.2SBALoanPrograms:3.1.2.1Basic7(a)LoanProgram3.1.2.27(m)LoanProgramorMicroLoanProgram3.1.2.3CDC504LoanProgram

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3.2SmallBusinessInnovationResearchProgram(SBIR)3.2.1EligibilityCriteria3.2.2ParticipatingFederalAgencies3.2.3SBIRApplicationProcess3.2.4IntellectualPropertyRights3.2.5TheSmallBusinessTechnologyTransferProgram(STTR)3.2.5.1EligibilityforForProfitEntities3.2.5.2EligibilityforNonprofitResearchInstitutions3.2.5.3ListofParticipatingAgencies.3.2.5.4ApplicationProcess.3.3SmallBusinessInvestmentCompany(SBIC)3.4CooperativeResearchandDevelopmentAgreements(CRADAs)3.4.1Purpose3.4.2Participation3.4.3Agreement3.4.4Proposals&Information3.5SmallBusinessConcern3.6SmallDisadvantagedBusinessConcern(SDB)&8(a)ProgramSmallDisadvantagedBusinessConcerns3.6.1Eligibility3.6.2Benefits3.7VeteranOwnedSmallBusinessConcern&ServiceDisabledVeteranOwnedSmallBusinessConcerns3.8Woman‐OwnedSmallBusinessConcerns(WOSB)3.8.1Eligibility3.8.2Benefits4INCUBATORS4.1UniversityIncubators4.1.1TechnologyAdvancementProgramatUniversityofMarylandCollegePark(TAP)4.1.2IncubatorandAccelerator‐UniversityofMarylandBaltimoreCounty(UMBCTechCenter)4.2Non‐UniversityIncubators.4.2.1ChesapeakeInnovationCenter4.2.2EmergingTechnologyCenter(ETC)4.2.3FrederickInnovativeTechnologyCenter,Inc.(FITCI)4.2.4GarrettInformationEnterpriseCenter4.2.5GermantownInnovationCenter4.2.6HagerstownCommunityCollege'sTechnicalInnovationCenter(WashingtonCounty’sBusinessIncubatoratHagerstownCommunityCollege)4.2.7HigherEducationandAppliedTechnologyCenter4.2.8NeotechIncubator4.2.9PrinceGeorge’sCounty–TechnologyAssistanceCenter4.2.10RockvilleInnovationCenter(RIC)4.2.11ShadyGroveInnovationCenter4.2.12SilverSpringInnovationCenter(SSIC)

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4.2.13TawesScience/TechnologyIncubator4.2.14TowsonGlobal4.2.15WheatonBusinessCenter(WBIC)4.3IncubationAssociations4.3.1TheMarylandBusinessIncubationAssociation(MBIA)4.3.2TheNationalBusinessIncubationAssociation(NBIA)5BUSINESSENTERPRISEPROGRAMS.5.1MarylandMinorityBusinessEnterpriseProgram5.1.1EligibilityCriteria5.1.2MBEApplicationProcess5.2AnneArundelCountyMinorityBusinessEnterpriseProgram5.3BaltimoreCityMinorityBusinessEnterpriseProgram5.3.1EligibilityCriteria5.3.2MBEApplicationProcess5.4BaltimoreCountyMinorityBusinessEnterpriseProgram5.4.1EligibilityCriteria5.5HowardCountyMinorityBusinessEnterpriseProgram5.6MontgomeryCountyMinorityBusinessOutreachProgram5.7PrinceGeorge’sCountyMinorityBusinessEnterpriseProgram5.7.1EligibilityCriteria5.7.2ApplicationProcess5.8OtherLocalBusinessEnterpriseProgramsandResources6OPPORTUNITIESFORBUSINESSGROWTH6.1LocalChambersofCommerce6.1.1MarylandChambersofCommerce(MCC)6.1.2OtherlocalChambersofCommerce6.2MarylandTechnologyDevelopmentCorporation(TEDCO)6.2.1General6.2.2Programs6.2.2.1FundingOpportunities6.2.2.2BusinessAssistance6.2.2.3FederalLabOpportunities6.2.2.4BusinessIncubation6.3TheGreaterBaltimoreTechnologyCouncil6.4TechCouncilOfMaryland6.5SmallBusinessResourceCenters6.6MarylandSmallBusinessDevelopmentCenters(MDSBDCs)6.6.1Counseling6.6.2Training6.6.3Financing6.7WomenOnlyActivateProgram6.7.1ActivateProgram6.7.2NationalAssociationofWomenBusinessOwners6.8BusinessSchools6.9SpeakerSeries7TAXCREDITINCENTIVEPROGRAMS

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7.1EnterpriseZones7.2EmpowermentZones(federal)7.3OneMarylandEconomicDevelopmentRealPropertyTaxCredit7.4JobCreationTaxCredit7.5ResearchandDevelopmentTaxCredits7.6BioHeatingOilTaxCredit7.7BiotechnologyInvestmentIncentiveTaxCredit7.8BusinessesthatCreateNewJobsCredit7.9CellulosicEthanolTechnologyResearchandDevelopmentTaxCredit7.10CleanEnergyIncentiveTaxCredit7.11CommuterTaxCredit7.12CommunityInvestmentTaxCredit7.13Employer‐ProvidedLong‐termCareInsuranceCredit7.14EmploymentOpportunityTaxCredit7.15GreenBuildingTaxCredit7.16HeritageStructureRehabilitationTaxCredit7.17Long‐termEmploymentofEx‐FelonsTaxCredit7.18MarylandDisabilityEmploymentTaxCredit7.19Maryland‐MinedCoalTaxCredit7.20TelecommunicationsPropertyTaxCredit7.21WaterQualityImprovementTaxCredit[edit]PRIVATEFINANCINGPROGRAMS[edit]Introduction[edit]Early‐StatePrivateEquityThereareseveraltypesofearly‐stageprivateequityavailableforbusinessentrepreneurs.Otherthanyourpersonalfunds,therearethefollowingsources:(1)Angelsarewealthyindividualswhoinvestintheearly‐stageofstart‐upcompanies.Thebenefitofusingangelsforearly‐stagefinancingisthatitislesscomplicatedandgenerallyrequireslessexpensethanventurecapitalfinancing.However,therearedownsidestousingangels.Oftentheseindividualscanonlyprovideaone‐timeinvestment,whichmayrequireagreaternumberofinvestorstoprovidealloftheneededfinancingandcreateanadministrativeburden.Also,manytimesangelsarenotsophisticatedinvestorsandmayhaveunrealisticexpectationsregardingthereturnontheinvestment.Whenfinancingisobtainedfromangelsitisimportantfortheentrepreneurtoensurethattheangelisan“accreditedinvestor”undersecuritieslaws.(2)Venturecapitalisafundofpooledinvestmentsthatismanagedbyaventurecapitalist.Itgenerallybecomesinvolvedintheearlystageofacompanywiththeintentofgrowingthebusiness,whereareturnonitsinvestmentwillberealizedthroughaneventualIPOortradesale.Thebenefitsofventurecapitalarethatthefundsgenerallyhaveenoughresourcestoprovidemuchofthecompany’sneededfinancing,andmanyventurecapitalistscanalsoprovideassistancewithgeneralbusinessissues,includingformulatingabusinessstrategy,recruiting,andprovidingintroductionsintothebusinesscommunity.However,thedownsideofusingventurecapitalisthatitrequiressharedequity,andmanyventurecapitalistsinsistonalsosharingcontrolofthecompany(usuallythroughrepresentationontheboardof

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directors).Thisfinancingisgenerallynotavailabletosmallerstart‐upcompanies,astheventurecapitalfundsgenerallydesiretomakeinvestmentsupwardsof$500,000to$1,000,000.()AccessingEarly‐StagePrivateEquityActiveAngelGroupsAnactiveangelgroupconsistsofhighnet‐worthindividualswhojointogethertoinvestcollectivelyinentrepreneurialfirms.Theactiveangelgroupmeetsregularly(oftenmonthly)toreviewbusinessproposals.Oftenentrepreneursareaskedtomakepresentationstothemembershipofthegroup.Iftheactiveangelgroupdecidestomakeaninvestmentinastart‐upbusiness,theangelsworktogethertoconduct"duediligence"tovalidatethebusinessplan,statementsandhistoryoftheentrepreneurialteam.Themembersofactiveangelgroupstendtobeformerentrepreneursthemselvesandareattemptingtomakeareturnontheirinvestment,butoftenarealsotryingto“giveback”totheircommunitiesbyspurringeconomicgrowth,whichleadsactiveangelgroupstowanttoinvestlocallyasopposedtonationally.Someactiveangelgroupsaremorelikelytoinvestinfirmsthatarerecommendedbypeopletheytrust;therefore,itisimportantforentrepreneurstonetworkinthelocalcommunitytogainareferral.Examplesofpeopletocontactinclude:entrepreneurswhoarebackedbyangels,attorneyswhospecializeinequityinvestmentsinstart‐upbusinesses,accountantsandbusinesscounselors.ProcessActiveangelgroupsconductseveralstagesofreviewbeforemakingfundingdecisions.Whilenotwogroupsofactiveangelsarealike,belowisagenerallistofstagesofreview:1.Application/BusinessPlanAngelgroupwebsiteswillcontaininformationregardingtheprocesstocompletetheirapplication,whichoftenrequiressubmissiontheentrepreneur’sbusinessplan.2.Pre‐ScreeningOnceanapplicationhasbeencompletedorabusinessplanhasbeensubmitted,theangelgroupwillreviewittodetermineifthepotentialinvestmentopportunitymeetstheangelgroup’sgeneralrequirementsandinvestmentpreferences.3.ScreeningIfanapplicationisacceptedforfurtherreview,theentrepreneurwilloftenbeaskedtomeetwithasubsetoftheactiveangelgrouptoallowthegrouptofurtherunderstandthenatureofthepotentialinvestment,receivemoreinformationregardingthebusinessplan,andanswertheangels'questions.4.InvestmentMeetingIftheangelsinattendanceattheScreeningstageshowinterestintheentrepreneur'sbusiness,theentrepreneurwillbeinvitedtopresentinfrontofameetingtheentireactiveangelgroup.Thepresentationwillbefollowedbyaquestionandanswersession.Thesetypesofinvestmentmeetingsareusuallyheldonamonthlybasis.5.DueDiligenceIftheentireangelgroupshowsinterestinthebusiness,aperiodofduediligencewillbegin.Thisduediligencewillbeconductedbythoseangelsandspecialistswithknowledgeofthespecificindustryunderconsideration.Theduediligencewillbeathoroughreviewoftheentrepreneur’sbusinessplanandbusinessincludingthemanagementteam,marketingopportunities,asitevisit,customercalls,andfinanciallyanalysis.Thisprocesscantakeanywherefromafew

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weekstoafewmonths.6.TermSheetIftheangelgroupdecidestoinvestintheentrepreneur,atermsheetfortheinvestmentwillbenegotiated.Thistermsheetwillguidethelawyersinpreparinginvestmentagreementsandwilldeterminetherelationshipbetweentheangelgroupandtheentrepreneur.Examples:AngelCapitalAssociation:Associationofangelgroupsthatprovidesinformationandeducationforentrepreneursonangelinvesting.NewVantageGroup:AngelgroupfocusingonMid‐Atlanticregion.KaufmannFoundation:Providesadvocacyandeducationforentrepreneurs.Mid‐AtlanticVentureAssociation("MAVA")MAVAisanorganizationdesignedto"facilitateprivateequityinvestinginthemid‐AtlanticregionandrepresentthecollectiveinterestsofventurecapitalistswithinvestmentinterestsintheMid‐Atlantic."Itiscomprisedofover500venturecapitalprofessionalsfromover125venturecapitalfirms,whocollectivelymanagecapitaltotalingover$100billion.Programs1.ALPHAConnectisaprogramdesignedtobringtogetherinvestorswithpromisingtechnologiesindevelopmentatuniversities,federallaboratoriesandothernonprofits.Theprogramhostsavarietyofeventsthroughouttheyear,includingtheAnnualMid‐AtlanticInnovationShowcaseandMAVAALPHAConnectLuncheon.2.CapitalConnectionisanannualeventdesignedtobringtogetherinvestorswithtechnologycompanies.Thiseventfeaturesstart‐up,early‐stageandexpansion‐stagecompaniesaswellaslater‐stateprivategrowthcompanies.3.TheMid‐AtlanticBioisanannualconferenceforthebioscienceindustrythatattractsnationalandinternationalindustryleaders.Biotechindustryleaderspresenttheirtechnologies,givinginvestorstheabilitytolearnmoreabouttheseadvances.4.OntheLinksGolf:thisannualgolftournamentbringstogetherventurecapitalistswithMAVAmembersforadayofnetworkingonthegreen.5.YoungInvestmentProfessionalsbeganinthe1990sandisdesignedtoprovideopportunitiestoyoungventurecapitaliststhroughnetworking,enhanceddealflow,buildingofco‐investmentrelationships,andeducation.Theprogramhostsavarietyofnetworkingeventsthroughouttheyear,aswellassponsoringcommunityoutreachandprofessionaldevelopmentprojects.Theprogramhasover160membersfrom86venturecapitalfirms.Formoreinformationaboutthisprogramorbecomingamember,call410‐560‐5855ore‐mailKathyO'LaughlinatKathy@mava.orgSpringboardEnterprisesSpringboardEnterprisesisanorganizationdesignedtofosterwomenbusinessentrepreneursbysupportingemergingcompaniesledbywomen.Itdescribesitselfasa"go‐toorganization"toobtaininformationandsupportforwomen‐ledemergingcompanies.Thissupportisintendedtoaccelerateaccesstoequitymarketsforwomen‐ledcompaniesbyofferingworkshopsandseminars,membershipprograms,education,coaching,connectionswithinvestors,forums,andaweb‐basedlearningcenter.

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Programs:1.VentureForumsaredesignedtofeaturewomen‐ledemergingbusinessesinfrontofventurecapitalists.2.Educationalprogramsareofferedtoprovideinformationregardingtheequitymarketsandbuildinganewcompany.3.TheLearningCenterisanonlinesitedesignedtoprovidewomenentrepreneurswitha"virtualbootcamp"regardingtheequityraisingprocess.Thesitecontainsresourcesdesignedtohelpwomenbetterunderstandtheprocessofobtainingfinancingforemergingcompanies.Thesitecontainstutorialsonfundamentalsoftheequitymarket,creatingapitch,preparingabusinessplan,andothertools,resourcesandvideos.SpringboardEnterprises:Fosterswomenbusinessentrepreneurs.MARYLANDFINANCINGPROGRAMSThestateofMarylandhas,amongothers,thefollowingstatesponsoredfinancingprogramsforentrepreneurstopossiblyaccess:[edit]MarylandSmallBusinessDevelopmentFinancingAuthority(MSBDFA)MSBDFAisanagencyoftheMarylandDepartmentofEconomicandBusinessDevelopment(DBED)Websitehttp://www.choosemaryland.org/Pages/default.aspx.Thereareprivatecompaniesthatparticipateaswell,suchasMeridianManagementGroup,Inc.TheMSBDFAprogramoffersthefollowingfourfinancialassistanceprograms:ContractFinancingProgram(CFP)a.EligibilityCriteriaAtleastfifty‐onepercentofthecompanymustbeownedbysociallyoreconomicallydisadvantagedpersons,whicharedefinedaspersons,who:(1)aremember(s)ofagrouphistoricallydeprivedofaccesstonormalfinancialresources;(2)haveanidentifiablephysicalhandicapwhichlimitstheirabilitytoobtainfinancing;and(3)areotherwiseimpededfromobtainingfinancingbecauseofsocialoreconomicfactors.Sinceinceptionin1978throughJune30,2008,276transactionsweresettledfortotalof$40.6million,themajorityofwhichwerethroughdirectloans.b.PermittedUseofProceedsFundsobtainedthroughtheCFPmaybeusedeitherforworkingcapitaltocompleteanexistinggovernmentorpublicutilitycontractortoacquireequipmentofmachinerytocompletesuchcontract.Fundingmayalsobeapprovedpendingreceiptofsuchacontract,althoughdraw‐downoffundswillnotbepermitteduntilthecontracthasbeenawarded.c.MSBDFAFinancialAssistanceundertheCFP(1)DirectLoans(a)MSBDFAmaylenddirectlyupto$2,000,000.(b)Themaximuminterestrateapplicabletosuchloansisafloatingprimerateplustwopercent,butnottoexceedfifteenpercent.(c)ThetermofMSBDFAdirectloansisthelongerofeitheroneyearorthetermofthecontract.(2)LoanGuaranteesMSBDFAwillguarantyuptoninetypercentofthecommercialloan(providedthattheguaranteedamountmaynotexceed($2,000,000).(a)Themaximuminterestrateforaguaranteedloanisafloatingprimerateplustwopercent.

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(b)ThetermoftheMSBDFAguarantyisthelongerofoneyearorthetermofthecontract.GuarantyProgram(GP)a.EligibilityCriteria(1)Atleastseventypercentofthecompanymustbeownedbysociallyandeconomicallydisadvantagedpersonsorhandicappedpersons.(2)Preferably,theprincipalwillhavehadatleasteighteenconsecutivemonthsofexperienceinthetradeorbusinessforwhichitisseekingMSBDFAfinancialassistance.b.UseofProceedsFundsobtainedthroughtheGPcanbeusedforworkingcapitalpurposes,toacquireorinstallequipmentandmachinery,leaseholdimprovements,andacquisitionofrealestateorcorporatestockortherefinanceofdebt.Performance‐AsofJune30,2008,279financingswereguaranteedundertheCFPtotaling$51.9millionsincetheprogrambeganin1984.(Notlimitedsolelytogovernmentcontractsorutilityagreements.)c.MSBDFAFinancialAssistanceundertheGPForLoansBetween$5,000and$2,000,000(1)LoanGuarantees(a)MSBDFAmayguarantyuptoeightypercentofaqualifyingcompany’scommercialloan(providedthatMSBDFA’sexposuredoesnotexceed$2,000,000).(b)Themaximuminterestrateforaguaranteedloanistheprimerateplustwopercent.(c)Themaximumtermforaguaranteedloanistenyears.(2)InterestRateSubsidies(a)MSBDFAcanalsosubsidizefourpercentagepointsoftheinterestratebeingchargedbythefinancialinstitution.(b)Subsidyissubjecttoannualreview.(c)Termsofrepaymentofsubsidyarenegotiateddirectlywithborrower.(d)Ispayablequarterly.EquityParticipatingInvestmentProgram(EPIP)EPIPisintendedtoenhancebusinessownershipthroughuseofloan,loanguaranteesorequityinvestment.EPIPhasthefollowingfourcomponentsandassociatedrequirements(Sinceinceptionin1987throughJune30,2008,thisprogramhasprovided83loansorequityinvestmentsofapproximately$14.0million.Intheearlydaysoftheprogram,amajorityoftheparticipantswerefranchisebusinesses.Withinthelasttenyears,thefocusoftheprogramistoprovidemoreassistancetotechnologybasedbusinessesandtomoretraditionalindustrysectors.):(1)EPIPFranchiseComponent(a)EligibilityCriteria(i)Thecompanymustbeafranchise.(ii)Atleastseventypercentofthecompanymustbeownedbysociallyandeconomicallydisadvantagedpersonsorhandicappedpersons.(iii)Thelesserofatleasttenpercentofthecompany’scapitalcontributionsmusthavebeenmadebyitsowneror$250,000.

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(b)PermittedUseofProceedsFundsobtainedthroughtheEPIPcanbeusedtofinancepurchasesofrealproperty,equipmentorexistingfranchises;forleaseholdimprovements;topayfranchiseandtrainingfees;forworkingcapitalpurposesorexpandexistingsmallbusiness.(c)MSBDFAPurchasesofSecurities(i)MSBDFAprovidesfinancialassistancetofranchiseesorfranchisorsundertheEPIPbypurchasingtheirdebtorequitysecurities.MSBDFApurchasesoffranchiseesecuritiesmaynotexceedthelesserorforty‐fivepercentofitsinitialprojectcostor$1,000,000.MSBDFA’sinvestmentsarestructuredsothattheyarerecapturedwithinsevenyears.(ii)IndependentBusinessAppraisalmayberequired.(2)EPIPBusinessAcquisitionComponent(a)EligibilityCriteria(i)Atleastfifty‐onepercentofthecompanymustbeownedbysociallyandeconomicallydisadvantagedpersonsorhandicappedpersons.(ii)Thebusinessbeingacquiredmustbeatleastfiveyearsoldandmusthavebeenprofitabletwoofthelastthreeyears.(iii)Ifacquiringabusiness,theprincipalsoftheenterpriseapplyingmusthaveanequityinvestmentequaltofivepercenttotalacquisitioncostand3yearsormoreofsuccess.(b)PermittedUseofProceeds(i)Purchaseofmachinery,equipment,furniture,fixtures,inventoryorrealestate;leaseholdimprovements;workingcapital;(ii)construction/renovation;orpurchaseofexistingprofitablebusiness.(c)FinancialAssistanceTerms(i)Equityinvestmentsorloansupto25percentofinitialprojectcostor$2,000,000,whicheverisless.(ii)Investmentshavealoandurationofnotmorethansevenyears.Loansaretypicallyrepaidwithinthe4thto7thyear.(iii)Theownermustcontributeatleast$25,000or5percentofthecompany’stotalcapitalcontributions,whicheverisgreater.(3)TechnologyInvestment(a)EligibilityCriteria(i)Thecompanymustbeatechnology‐basedbusinesswithaproventechnologicalproductorservice.(ii)Atleastseventypercentofthecompanymustbeownedbysociallyandeconomicallydisadvantagedpersonsorhandicappedpersons.(b)PermittedUseofProceedsCompaniescanusetheproceedstopurchaseofmachinery,equipment,furniture,fixtures,inventoryorrealestate;leaseholdimprovements;workingcapital;construction/renovation,toacquireexistingprofitablebusinessortodevelopatechnologybasedbusiness.(c)FinancialAssistantTerms(i)MSBDFA’sequityinvestmentinatechnology‐basedbusinessmaynotexceed$2,000,000.(ii)Investmentdurationofnomorethantenyears.

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(4)OtherSmallBusinessSamecriteriaasbusinessacquisitionsbutlimitedforpurposesofstartingorexpandingabusinessentity.SuretyBondProgram(SBP)a.EligibilityCriteria(1)Thecompanymustbea“smallbusiness.”A“smallbusiness”isgenerallydefinedasonethat:(a)employsfewerthanfiftypersonsonafull‐timebasis;OR(b)haslessthan$10,000,000ingrossannualsales;and(c)isindependentlyowned;and(d)cannotsubcontractmorethan75%dollarvalueofcontract.b.MSBDFAFinancialAssistanceunderSBP(SpecialNote:UntilSeptember30,2009:Guarantyis90%percentupto$1,350,000andBondsarelimitedto$1,000,000eachduetocashlimitations,theexpectationsaretheSBPprogramwouldlaterincreasesuchlimitationsinaccordancewiththebelowtotheextenttherearefundsavailabletodoso)(1)BondGuaranty(2)UntilSeptember30,2009,theSmallBusinessSuretyBondFundisusedinguarantyrepaymentofuptoninetypercentofasurety’slossesonbid,paymentorperformancebonds(ofupto$5million)issuedtoqualifyingbusinessescontractingwithagovernmentagency(state,federalorlocal)orapublicutility.(3)Premiumsandfeesaredeterminedattimeofapplication,however,thebondpremiumsaretypicallyintherangeof2%to3%.(4)Theguaranteemaynotexceedthetermofthecontractandapplicablewarrantyperiodforlatentdefects.(5)Canestablishasuretybondrevolvinglinetodirectlyissueorguarantymultiplebondstoaprinciplewithinpre‐approvedterms,conditionsandlimitations.c.Performance(1)AsofJune30,3008,84projectssupportedwithbondsissueddirectlyorguaranteedbyMSBDFAforatotalofapproximately$38.9million.Only3claimstotalinglessthan$300,000havebeenpaid.(2)HouseBill169,whichpassedin2006,increasedmaximumamountof$5million,buttheprogramexpectstobeabletoincreaseto$2millioninfutureyearsasfundsarepermitted.(3)Bonds(a)MSBDFAmayissueandperformbid,performanceandpaymentbondsasasuretyforbusinessescontractingwithagovernmentagencyorpublicutility.(b)Suchbondsmaynotexceed$5,000,000.(SeeNote–fundsinprogramlimitto$2million)(c)Thebondsmaynotexceedthetermofthecontractandapplicablewarrantyperiodforlatentdefects.MarylandIndustrialDevelopmentFinancingAuthority(MIDFA)MIDFAisprogrammanagedbyDBED.Thewebsiteishttp://www.choosemaryland.org/businessresources/pages/midfa.aspx.Ingeneral,MIDFAinsuresrepaymentofaspecifiedpercentageofprincipalandinterestof

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loansmadetoqualifyingMarylandbusinessesbycommerciallenders.TheMarylandGeneralAssemblyestablishedMIDFAtohelpalleviateconditionsofunemploymentinMarylandandtopromotethedevelopmentofabalancedstateeconomythroughfinancialassistancetobothnewandexistingindustryandcommerce.InadditiontotheMIDFA“ConventionalProgram”thatwillbediscussedhere,MIDFAadministersaTax‐ExemptBondProgram,aTaxableBondProgram,aSeafood&AquacultureLoanFund,aLinkedDepositProgramandsupportstheMarylandEnergyFinancingAdministration.TheFundispermitteda5:1leverageratio.Fundcharges1/8of1%annualissuancefeewithrespecttotaxableortax‐exemptbondstocertainmanufacturing,501(c)(3)non‐profitentitiesandcertainsolidwasterecoveryprojects.Otherbondsmayhaveanissuancefeeof½of1%forinsuredtransactions,unlesssuchfeeiswaivedinaqualifieddistressed“OneMaryland”jurisdiction.AsofJune30,2008,theprogramhadparticipatedin818loanstotalingmorethan$2,103,193,475.00.Asofsuchdate,61loanswereactivewithprincipalbalancesofapproximately$465,790,000insuringobligationsof$24,685,883.MIDFAFinancialAssistanceundertheConventionalProgramMIDFAmayinsure(i)uptothelesserofeightpercentoftheprincipalandinterestofaqualifyingcompany’scommercialloanor$2.5million;(ii)uptothelesserof100percentofabond‐financedtransactionor$7.5million;and(iii)uptothelesserof90percentoftheprincipalandinterestofaloanforexport‐relatedtransactionsor$2.5million.Thetypicalprojectrangeis$35,000to$5million;thetypicalMIDFAinsuranceisinthe30‐40%range.MIDFAalsomayinsurethebusiness’paymentofotherborrowingcostssuchasinsurancepremiumsandotherfees.MIDFAworksdirectlywiththebusiness’commerciallendertodeterminethatamountforwhichthelenderrequiresthirdpartyparticipation.UltimatelythescopeofMIDFA’sguarantyisdeterminedbythelender’sneedsandthecollateralofferedassecurityfortheloan.ThenormalmaturityforloansinsuredbyMIDFAis15‐20yearsonrealestate,7‐10yearsonequipment,andoneyearorlessforworkingcapital.EligibilityCriteriaTheoretically,allMarylandbusinessesareeligibleforMIDFAassistance.Inpractice,howeverMIDFAgenerallygivesfinancialassistanceonlyto501(c)(3)organizations,certainmanufacturingfacilitiesandcertainsolidwasteprojects.Retailbusinessesareexcluded,unlessspecificallyapprovedbytheAuthority.Additionallimitationsapplytospecifictransactiontype.Generallyspeaking,MIDFAexpectsapplicantstogenerateemploymentinMaryland.Whileinsurancedollarexposureandjobsguidelinesareused,eachfinancingrequestisanalyzedonitsownmeritsandintermsofitsowncharacteristics.Thecompanymustbecreditworthy.Ingeneral,MIDFAconsidersthedegreeofsuccessassociatedwiththecompany’spastoperationsaswellasitsprospectiveabilitytocreatejobs,generatetaxrevenue,serviceitsdebt,andmeettheneedsofthecommunityinwhichitislocated.ApplicationProcess(a)Anindicationthatthecredithasbeenapprovedbythelender;

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(b)Annualfinancialstatements,withaccompanyingnotes,foratleasteachoftheprecedingthreeyears,includingbalancesheets,profitandlossstatements,statementsofsourcesandusesoffunds,reconciliationsofsurplusandstatementsofchangesinfinancialpositioncoveringsuchperiod;(c)Financialprojectionsforthesucceedingthreeyears,includingprojectedcashflowstatements,projectedprofitandlossstatementsandproformabalancesheetsreflectingthenewdebtandanyproposedleaseobligations;(d)AFacilityCostsChecklistreflectingtheestimatedamountofthefinancing,ifany,tobeusedtoconstructfacilitiesforthebusiness;(e)Evidenceoftheage,normalusefullifeandcostormarketvalueofanymachineryorequipmenttobefinancedwiththeproceedsoftheguaranteedloan;and(f)Personalfinancialstatementsoftheindividualapplicant(s)andpersonalguarantor(s).SpecialConditionsMIDFAmayrequiretheapplicanttouseitsbesteffortstomaintainacertain“jobcreationlevel.”(MIDFAisfundamentallycommittedtorelievingconditionsofunemploymentinMaryland.)UseofProceedsFundsobtainedbythebusinessfromanMIDFA‐insuredloanmaybeusedtofinancepurchasesoffixedassets(e.g.,realproperty,machinery,equipment,etc.)aswellastopaycertainsoftcostsandforworkingcapitalpurposes.InterestRatesTheapplicabletypeandrateofinterestwillvarydependinguponthelender’sneeds.TermoftheLoanGuarantyThetermofaMIDFA‐insuredloanwillvarydependinguponthebusiness’expecteduseoftheproceedsfromtheloan.Forexample,loansobtainedtopurchaserealpropertygenerallywillbeinsuredforatermoffromfifteentotwentyyears;loansobtainedtopurchaseequipmentormachinerygenerallywillbeinsuredforatermoffromseventotenyears;loansobtainedforworkingcapitalpurposesgenerallywillbeinsuredonlyforatermofoneyear.MarylandIndustrialPartnerships(MIPs)TheMIPsprogramisacollaborationbetweenqualifyingMarylandcompaniesandthe13institutionsintheUniversitySystemofMarylandforresearchtodevelopcommercialproductsandprocesses.MIPsprovideamatchingservice,knownastheMarylandTechnologyEnterpriseInstitute(MTECH),tohelpapplicantcompaniesfindappropriateresearchfacultywithintheUniversitySystemofMaryland.Projectsarepreparedjointlybythecompanyandtheuniversityresearcher.TheMIPsprogrammatchesthecompanycontributiontotheresearchprojectupto$90,000ayearforstart‐upcompaniesandupto$100,000peryearforothercompanies.MIPsfundingdoesnotgototheparticipatingcompanybutisapplieddirectlytotheresearch.MIPsandMTECHstaffareavailableforconsultationinwritinganapplication.FormoreinformationseeMarylandIndustrialPartnerships(MIPs)Program

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WebsiteEligibilityCriteriaa.ThecompanymustbeaMarylandbusiness,meaningthatithasamanufacturing,servicesorresearchanddevelopmentoperationsinMarylandoritmustbeplanningtosetupsuchoperationsinthestatewithintheyearinwhichtheMIPsawardistobereceived.Applicantsmaybeasinglecompany,agroupofcompaniesornon‐profitorganization.b.Eachproposalmustbeco‐authoredbytheapplicantcompanyandafacultymemberfromtheUniversitySysteminMarylandwhowillbeinvolvedintheproject.c.Theproposalsmustaddressinnovativetechnologicalorscientificconcepts.Thesetypicallyfallwithintheareasofengineering,computerscience,physicalsciencesorlifesciences.Fundinga.MatchingrequirementsforeachprojectarebasedonabudgetconsistingofboththecompanyandtheMIPscontributions,withcompaniesbeingexpectedtomakeanadditionalin‐kindcontributionthatincludesthesalaries,materialsandequipmentandothercompany‐budgetedexpensesforthework.(i)Forlargecompanies,definedasfirmshavingmorethan1,000employees,theminimumcashandin‐kindcontributionsare50%and25%oftheprojectbudget.(ii)Formediumcompanies,definedasfirmshaving100to1,000employees,theminimumcashandin‐kindcontributionsare50%and25%oftheprojectbudget.(iii)Forsmallcompanies,definedasfirmshavefewerthan100employees,theminimumcashandin‐kindcontributionsare35%and30%oftheprojectbudget.(iv)Forstart‐upcompanies‐‐definedasprivatelyheldfirmsinaproductdevelopmentmodethathavebeeninbusinessfouryearsorlessandhaveannualsalesof$1millionorless‐‐theminimumcashandin‐kindcontributionsare10%and35%oftheprojectbudget.Asanalternativetocashandin‐kindcontributions,anequitycontributionispossibleforastart‐upcompany.b.One‐year(one‐phase)andtwo‐year(two‐phase)projectsareeligible.Inexceptionalcasesathirdyearorphasemaybeconsidered.Ifatwo‐yearprojectisselected,thestatusisreviewedattheendofthefirstyear.Ifsatisfactory,thesecondyearoftheprojectwillproceed.c.EachapplicationisreviewedfirstbyMIPsstaff,thenbyexpertsintheapplicablesubjectarea,thenbybusinessexperts,finallybyanevaluationboard.Criteriaincludethelikelihoodof:(i)successfromthetechnicalstandpoint;(ii)jobcreationinMaryland;(iii)improvementofthecompany’scompetitiveposition;and(iv)helptotheMarylandeconomyinsomeotherway.Bonuspointsintheevaluationareawardedtocompaniesthatproposetoexceedtheminimumcashandin‐kindcontributions.Otherfactorsintheevaluationincludethelevelofthecompany’scommitment,contributiontothegoalsoftheuniversity,andthepossibilityofinteractionbetweenthecompanyandtheuniversity,suchasstudentinternships.ApplicationProcessThescheduleofkeydatesintheapplicationprocess,basedonthecalendaryear2008isasfollows:a.ApplicationpacketsavailableAugust1;b.ProposalsdueatMIPsofficebyOctober

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15;c.EvaluationboardselectionscompletedDecember16;d.ExecutedagreementsreturnedbyMIPsbyJanuary16;ande.ProjectcommencementbyFebruary1.MarylandIndustrialPartnerships(MIPS)Program;UniversityofMarylandMIPSProgramDepartmentofBusiness&EconomicDevelopmentInvestmentProgramsTheMarylandVentureFundisaventurecapitalinvestmentfundofthestateofMarylandthatinvestsdirectlyinlifesciencesandtechnologycompaniesandindirectlyinventurecapitalfunds,primarilythroughtwoprograms:theChallengeInvestmentProgramandtheEnterpriseInvestmentFundProgram.FormoreinformationvisitMarylandVentureFundChallengeInvestmentProgramTheChallengeInvestmentPrograminvestsinemergingcompaniestocoverpartoftheinitialcostsofbringingnewproductstomarket.Theinitialinvestmentsare$50,000to$100,000,withfurtherincrementalinvestmentsuptoamaximumof$150,000.Theinvestmentsarestructuredasconvertibledebtwitharoyaltypayment.Toqualify,abusinessmustmeetthefollowingcriteria:(1)Nomorethan25employees;(2)Annualsalesoflessthan$1million;(3)Minimum1:1co‐investormatchbyotherinvestors,whichmayincludefamilyandfriends;(4)High‐techcompanywithprincipalplaceofbusinessinMaryland;(5)RemaininMarylandforatleastthreeyears;and(6)Positionedforadditionalventurecapitalinvestment.EnterpriseInvestmentFundProgramTheEnterpriseInvestmentFundPrograminvestsinemergingtechnologycompanies,typicallyinthefirstroundofinstitutionalfinancing,withthegoalofhelpingsuchcompaniesmovetothenextstageofdevelopment.Investmentamountsrangefrom$150,000to$500,000.Theprograminvestmenttakestheformofanequitypositioninthecompany.Toqualify,businessesmustmeetthefollowingcriteria:a.Operateinatechnologyindustry,suchaslifesciences(e.g.therapeutics,medicaldevicesanddiagnostics)andinformationtechnology(e.g.software,communicationsandITsecurity);b.MaintainprincipalplaceofbusinessinMarylandforatleastfiveyears;andc.Minimum3:1matchbyasophisticatedinvestor;ApplicationsToapplytoeithertheChallengeInvestmentProgramortheEnterpriseInvestmentFundProgram,acompanymustmeettheabove‐describedeligibilitycriteriaasapplicableandsubmitabusinessplantotheMarylandVentureFund.Eachapplicationmustincludethecompanynameandaddress,contactnameandtelephonenumberanddetailedbackgroundonthecompany’sfounders.CountyandLocalSupportBaltimoreCity‐BaltimoreDevelopmentCorporation(BDC)BDCisa501(c)(3)corporationcontractedwiththeCityofBaltimoretoprovideeconomicdevelopmentservicesandtoactasaliaisonbetweenbusinessownersand

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Cityagencies.Formoreinformationseehttp://www.baltimoredevelopment.com/a.BDCLoanPrograms‐RevolvingLoan/WorkingCapitalLoanFunds(RLF/WCandMILA/RLF)Availabletofor‐profitbusinessesandmaybeusedforacquisitionandimprovementofland,facilitiesandequipment(includingrenovation,demolition,siteprepandnewconstruction).Thefundsmayalsobeusedforworkingcapitalwithrestrictions.Maynotbeusedforrelocationfromasurplusareaorinvestmentactivities.ApplicantswithacurrentoutstandingRLFloan,ortoapplicantswhohavereceivedaccumulatedassistancefromtheRLFof$150,000withinthepreviousfive‐yearperiodarenoteligible.Otherineligiblebusinessesinclude:financialinstitutions,consultingfirms,realestatecompanies,not‐for‐profitbusinesses,developers,orunregulatedmedia.Loanlimitsare$500,000or30‐35%ofprojectcosts.ApprovalbyBDC’sLoanCommitteeandbytheCity’sBoardofEstimatesrequired(andinsomeinstances,approvalbytheCity’sBoardofFinance).b.CityGeneralObligationBondsAvailabletofor‐profitbusinessesandsomenon‐profitsandaregenerallyrestrictedtoguaranteesandcapitalprojects–“brickandmortar”improvements.Refinancingisnotpermitted.Maynotbeusedforrelocationfromasurplusareaorinvestmentactivities.ApplicantswithacurrentoutstandingRLFloanortoapplicantswhohavereceivedaccumulatedassistancefromtheRLFof$150,000withinthepreviousfive‐yearperiodarenoteligible.Otherineligiblebusinessesinclude:consultingfirms,unregulatedmedia,realestatecompanies,investmentorspeculativeactivities,speculativedevelopers,andretail.EligibleprojectsandloanlimitsaredeterminedbyBDCandmaynotexceed30‐35%ofprojectcosts(subjecttoavailabilityoffunds,numberofjobscreated,andindustrytype).ApprovalbyBDC’sLoanCommitteeandbytheCity’sBoardofEstimatesrequired(andinsomeinstances,approvalbytheCity’sBoardofFinance).c.BDCSmallBusinessResourceCenter(SBRC)TheSBRChasalargelibraryandprovidesfreeresourcestoeducateownersinstarting,planning,financingandmarketinganewbusiness.Forhoursofoperationandadditionalprogram,seewebsitehttp://www.baltimoredevelopment.com/small‐business‐resource‐center‐0AnneArundelCounty–EconomicDevelopmentCorporationAnneArundelhasanEconomicdevelopmentagencythatprovidesvariousprogramsforlocalcompanies.Seewebsitehttp://www.aaedc.org/TheAnneArundelCountySmallBusinessResourceCenterprovidesservicesthatarefreeofcharge,confidential,andthataddresstheneedsandchallengesoftoday’sbusinessenvironment.TheSBRClibraryisopentothepublicMondaythroughFridayandCounselingservicescanbearrangedbyvisitingtheCenter.Formoreinformation,seehttp://www.aaedc.org/small_business_resource_center.htmlAnneArundelCountybusinessfinanceofficehasvariousprogramsaswell.Seewebsitehttp://www.aaedc.org/business_financing.htmlAnneArundelCountyLoanPrograms(1)ArundelBusinessLoanFundisaprogramoftheAnneArundelEconomic

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DevelopmentCorporation,whichprovidesloanswithamaximumof$300,000tonewandexpandingbusinessesoperatinginAnneArundelCounty.Loanproceedsmaybeusedforworkingcapital,equipment,furniture,andleaseholdimprovements.SBAlendingregulationsapplysincetheloansinvolveSBAguarantees.(2)BusinessCorridorInvestmentLoanProgramhasbeenestablishedtoencourageeconomicactivityinfourpilotprojectareasinAnneArundelCountyandtheCityofAnnapolisRevitalizationDistricts.TheBCIPoffersqualifiedbusinessownerszerointerestloansofupto$35,000forimprovementstotheexteriorandinterioroftheirbusiness.Thefourpilotprogramareasinclude:Route2CorridorinBrooklynPark,theRoute2CorridorandGlenBurnieTownCenterinGlenBurnie,theSunValley/MountainRoadCorridorsinPasadena,andtheWestStreetRevitalizationDistrictintheCityofAnnapolis.Eligibleimprovementsinclude:(a)Renovationofbuildingexteriors,(b)Siteimprovementssuchaslandscaping,signage,orlighting,and(c)Interiorimprovementssuchaspainting,flooring,plumbing,orelectricity.BaltimoreCounty–DepartmentofEconomicDevelopmentBaltimoreCountyhasaDepartmentofEconomicDevelopmentthatprovidesvariousprogramsforlocalcompanies.Formoreinformationseehttp://www.baltimorecountymd.gov/Agencies/economicdev/index.htmlBaltimoreCountyhasaSmallBusinessResourceCenterthatprovidesvariousservicestolocalcompanies.TheBaltimoreCountySmallBusinessResourceCenterisoperatedthroughapartnershipbetweentheBaltimoreCountyDepartmentofEconomicDevelopmentandtheBaltimoreCountyChamberofCommerceandoffersnewandexistingbusinessassistancewithtechnical,financialandmarketingissuesfreeofcharge.http://www.baltimorecountymd.gov/Agencies/economicdev/edd_smallbus.htmlTheassistanceincludes:FeasibilityStudies,DemographicStudies,StrategicPlanning,BusinessStructuringNeeds,Assessments,BusinessValuations,MarketAnalysis/Research/Planning,BusinessPlanDevelopment,LoanPackageAssistance,CertificationProcess&Procurement,IntellectualPropertyandFundingPrograms.Formoreinformationseebccc@baltcountycc.comBaltimoreCountyhasafinanceofficewhichhelpslocalcompanies.SeeContactforBaltimoreCountyfinancingprogramsathttp://www.baltimorecountymd.gov/Contact/economicdevelopmentLoanPrograms(1)BuildingInvestmentLoans‐provideinterest‐freeloansforexteriorimprovementssuchasawnings,landscaping,signs,andparkingforbusinessesinCommercialRevitalizationDistricts.Formoreinformation:http://www.baltimorecountymd.gov/Agencies/economicdev/Finance/edd_fin_bilp.html(2)SmallBusinessLoanPartnership‐Thisfundprovidesrealestateandfixed‐assetloansthroughapartnershipbetweenBaltimoreCountyandthearea'sleadingfinancialinstitutions.Formoreinformation:http://www.baltimorecountymd.gov/Agencies/economicdev/Finance/edd_smallbusloadfund.html

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(3)RevitalizationAdvantage‐offers¼percentdiscountsoffstandardinterestratestoqualifyingbusinessestorefurbishordeveloppropertyorfinanceequipmentintheCounty's13CommercialRevitalizationDistricts.Formoreinformation:http://www.baltimorecountymd.gov/Agencies/economicdev/Finance/edd_fin_inst_comrev_advntg.html(4)BusinessGrowthLoans‐providedirectloansorloanguaranteestonewandexpandingindustrialandcommercialbusinesses.Maximumloanamountis$250,000.Fundsmaybeusedtofinancetheacquisitionandimprovementofland,buildings,plantandequipmentandincludesnewconstructionorfacilityexpansion.(5)AdvancedTechnologyLoanFundDirectloans,withtheparticipationofotherlendingandequitysources,forsmalltechnologyand/ordefenserelatedbusinesses.Maximumloanamountisthelesserof$100,000or50percentoftheproject'seligiblecosts.Fundsmaybeusedtofinancetheacquisitionandimprovementofland,buildings,plantandequipment.Thisincludesnewconstructionorfacilityexpansion.(6)TaxExemptBondsTax‐exemptbondfinancingisavailabletomanufacturersand501‐C3/non‐profitorganizations.Bondproceedsmaybeusedtofinancetheacquisitionandimprovementofland,buildings,plantandequipment,includingnewconstructionorfacilityexpansion.Financingisavailablefrom$1,000,000toamaximumof$20,000,000.IRB'sarealsoavailableforpollutioncontrolandwastetreatmentfacilityconstructionorrelatedequipmentpurchases.CarrollCountyDepartmentofEconomicDevelopmentCarrollCountyhasaDepartmentofEconomicDevelopmentthatprovidesservicestolocalcompanies.Seehttp://www.carrollbiz.org/index.phpCarrollCountyhasSmallBusinessDevelopmentCenterProvidesavarietyofmanagementandtechnicalassistance,confidentialbusinessconsultingservicesandtrainingprogramstohelpdevelopandrefinebusinessplans,solveproblems,findsourcesofcapitalanddevelopstrategiestosupportgrowthandprofitability.Seeformoreinformationhttp://www.carrollbiz.org/sbdc/aboutus.htmlCarrollCountyLoanPrograms(1)CarrollCountyDevelopmentCorporation‐CCDCisasourceofinvestmentanddebtfinancingtosupportlocalsmallbusinessandeconomicgrowthintheCarrollCountyarea.ThegoaloftheCCDCistopromote,developandimprovetheeconomicconditionsofthepeopleinCarrollCountythroughloans,investmentsandotherbusinesstransactionssupportingsmallbusinesses.Formoreinformation,pleasecontacthttp://www.carrollbiz.org/index.php(2)IndustrialRevenueBonds‐CarrollCountycanauthorizetheuseofanIRBtohelpfundaparticularproject.TaxexemptIRB'scanbeofferedtomanufacturingorotherdevelopmentprojectsmeetingeligibilitycriteria.EligibleIRBprojectscoststypicallybeginatonemilliondollars.Fundscanbeusedforland,machineryandbuildingconstruction/renovation.Interestratesvaryandtheuseofabondcounselisnecessary.Atnocost,CarrollCountywillpreparethelegalresolutionauthorizingtheprojectforanIRBandfacilitateitspresentationtotheappropriatebody.(3)EconomicDevelopmentTrustFund‐TheDepartmenthasatrustfundavailabletohelpfundprojectspecificcosts.Wheneligible,thedepartmentmayoffergrantsorlow‐interestloansforavarietyofneeds.

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(d)MillerEntrepreneurialInstitute–theMillerEntrepreneurialInstituteisaonestopresourceforsmallbusinessesandentrepreneursseekingtraining,peerrelationshipsandstate‐of‐the‐arttechnology.Theinstituteoffersalargeconferenceroom,computerclassroom,resourcelibraryandtrainingfacilitywithSmartClassroomcapability(laptopguidedoverheadprojectionsystem).TheMillerEntrepreneurialInstituteoffersclassesaspartoftheSmallBusinessTrainingNetworkofCarrollCounty.Fourpartnerscomingtogethertoservebusinessneeds‐MillerEntrepreneurialInstitute,CarrollCountyDepartmentofEconomicDevelopment,SmallBusinessDevelopmentCenter,andStartUpCarrollallprovideadviseandservicestohelpsmallbusinessesgrow.Pleaseseehttp://www.carrolltraining.com/small_business_services.aspformoreinformation.CecilCounty‐OfficeofEconomicDevelopmentCecilCountyhasanOfficeofEconomicDevelopmentthatprovidesservices.Formoreinformationseehttp://www.ccgov.org/dept_ecdev/CecilCounty'sRevolvingLoanFundProvidesfundstoqualifiedborrowersforthepurchaseofland,buildingsandequipment,inaccordancewiththeeligibilityrequirementsoftheprogram.IntroductiontoappropriateprogramsoftheSmallBusinessAdministrationcanworkinconjunctionwiththelocalrevolvingloanfundforqualifiedborrowers.HarfordCounty‐OfficeofEconomicDevelopmentHarfordCountyhasOfficeofEconomicDevelopmentthatprovidevariousservicestolocalcompanies.Formoreinformationseehttp://www.harfordcountymd.gov/economic_development/HarfordCountyhasaSmallBusinessDevelopmentCenterthatprovidesassistancetolocalcompanies.Formoreinformationseehttp://www.harford.edu/sbdc/index.aspLoanPrograms(1)EconomicDevelopmentOpportunityFund‐Stimulatesincreasedfinancingfornewequipmentandoperationsbycomplementingtraditionallenders,StateorFederalfundingprograms.LocalandFederalFundsusedtoencourageinvestment,retentionandjobcreationforworkingcapital,equipmentpurchases,landorbuildingimprovementsandpurchases.MaximumLoanamountis$100,000.Application:http://www.harfordbusiness.org/download/OppFund.PDF(2)RevolvingLoanFund‐Providesfundstocreditworthybusinessesunabletoobtainfinancingthroughtraditionalsourcesduetolimitedequity,collateralorcashflow.AnalternativeincentiveprovidedbytheCountyandaconsortiumofeightfinancialinstitutionstoattract,expandandretainsmallbusinesses.1.3MillionLoanPool.Availabletofor‐profitbusinessesincludingmanufacturers,wholesalers,retailers,serviceandagriculturalcompanies.Formoreinformation,contact:http://www.harfordcountymd.gov/economic_development/LoanAmountrangefrom$10,000to$100,000.(3)EnterpriseLoanFund‐PartnershipbetweenM&TBankoffersa1/4%discountoffstandardinterestratestoqualifyingbusinessestorefurbishordevelopcommercialproperty.ProgramsupportsHarfordCounty'scommitmenttorevitalizingolderindustrialareasofthecountyandsupportingresidentbusinessretentionandexpansion.AvailabletobusinesseslocatedalongHarfordCounty's

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Route40Corridor,includingtheEdgewood/JoppaandGreaterAberdeen/HavredeGraceEnterpriseZones.M&TBankloanamountsrangefrom$50,000to$3,000,000.RevitalizationAdvantageloanscanbeleveragedwithotherHarfordCountyLoanFundstomaximizesavings.Countyloansupto$100,000maybeavailable.(4)CommunityBlockDevelopmentGrantforEconomicDevelopment‐Fostersdevelopmentintargetedareas.Includesfundingfor:WaterandSewerLinestoindustrialsites,ExtensionofRailServicetoindustrialsites,ConstructionandRenovationofnewandexpandingbusinesses.(5)IndustrialRevenueBondsforManufacturersand501(c)(3)Organizations‐Taxexemptfinancingfortheacquisitionofland,buildings,andequipmentIRBBondsaresoldtolendinginstitutions,investorsandthepublicIRBPurchaserdeterminesfixedorfloatinginterestrateFederallawlimitstheterms,amountandusesoffinancing.HowardCounty‐EconomicDevelopmentAuthorityHowardCountyhasanEconomicDevelopmentAuthoritythatprovidesvariousservicestolocalcompanies.Formoreinformationseehttp://www.hceda.org/HowardCountyhasBusinessResourceCenterthatone‐on‐onecounselinginallaspectsofbusinessmanagement,fromstartup,businessplanningandfinancing,tomarketing,networking,andstrategicplanningforbusinessgrowth.BusinessResourceCenterclientscanfindprofessionalassistanceinareasasvariedasgovernmentprocurement,certifications,businessplanningandinternationaltrade.Accesstosophisticatedbusinessresources,referencematerials,trainingseminarsandworkshopsisalsoavailable.Formoreinformationseehttp://www.hceda.org/CBTD/brc.aspxTheBusinessResourceCenterprovidesthefollowingongoingentrepreneurialsupport:(a)Referralstothesmallbusinessnetworkinggroup,whichprovideentrepreneurialsupport.(b)TheBusinessFundingAdvisoryOfficeisstaffedbyprofessionalswhoadviseentrepreneursoffundingopportunitiesavailabletomeettheirneeds.(c)TheFranchiseAdvisoryOfficeoffersadvice,guidance,andseminarsonthebusinessaspectsoffranchising.(d)TheInternationalTradeCenterdevelopsrecognitionandawarenessofinternationaltradeopportunitiesforsmallandmediumsizeHowardCountycompaniesandassiststhemindevelopingandincreasingtheirinternationalbusinessopportunitiesthroughcounseling,workshops,andreferralstostate/federalagencies.(e)TheGovernmentContractingInstitute(GCI)offersbusinessestheopportunitytoreceiveinstructionfromleadersinthegovernmentcontractingmarketontopicssuchasgettingregisteredasacontractor,certification,businessdevelopment,marketresearch,proposalwriting,oralpresentations,accountingandlegalissues,projectandcontractmanagementandsecurityclearances.(f)TheVirtualOfficeisaprogramforsmallandhome‐basedbusinessesinHowardCountythatprovidesabusinessaddressforreceiptofmail,accesstoconferenceandmeetingfacilitiesequippedwithaudio/visualequipment/internetaccessandabusinesslibrary.LoanPrograms:

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(1)EconomicDevelopmentIncentivesFund‐HowardCountyhascreatedanEconomicDevelopmentlncentiveFundwhichisfundedbyanissuerfeeontaxexemptfinancing.Moniesfromthisfundareusedasamatchingrequirementtoobtainstatefunding.(2)JimRouseEntrepreneurialFund‐JREFwasestablishedtohelpfosterthedevelopmentofnewandgrowingbusinessesthrougheducation,mentoringandfinancing.Loansofupto$100,000aremadetosmallorstart‐upbusinessesforexpansionorstart‐upcosts.(3)USRoute1andUSRoute40RevitalizationLoanPrograms‐TheRoute1andRoute40loanprogramswereestablishedtoencouragebusinessestoimprovebuildingandsiteconditionsalongbothcorridors.Theprogramsofferatorbelowprimeratefinancingthroughparticipatingbanks.CenterforBusinessandTechnologyDevelopment‐FoundedinMay,2000,isdedicatedtothediscovery,stimulation,nurturing,growthandsuccessofentrepreneurshipinHowardCounty.TheCenterforBusinessandTechnologyhasgainedareputationforcreatinginnovativeprogramstofosterentrepreneurshipinthegreaterWashington/Baltimoreregion.Formoreinformationseehttp://www.hceda.org/CBTD/index.aspxj‐refj‐refisaprivate,not‐for‐profitorganizationdedicatedtofosteringtheentrepreneurialspiritinHowardCounty,Maryland.j‐refisasmallbusinessfinancierthatassistssmallandemergingbusinesseslocatedinHowardCounty.Itprovidesfinancingandotherneededformsofmanagementandeducationassistancetomaximizebusinessgrowth.Formoreinformationseehttp://www.jref.org.Inadditiontootherservices,j‐refprovidesthefollowingservices:(a)BusinessServices:(i)Businessloansupto$250,000.(ii)Businessadvicetomeetthespecificneedsoftheentrepreneur.(iii)Businessandstrategicplanreviewandbusinesseducation(b)RealEstateLoansProgram:(i)BusinessandrealestatemustbelocatedinHowardCounty(ii)Loansupto$250,000(iii)NoPrepaymentPenalty(iv)FloatingRates(v)75%ormoreOwnerOccupied(vi)CashDownPaymentaslowas5%OtherCountyEconomicDevelopmentOfficesAlleganyCountyEconomicDevelopment‐formoreinformationseehttp://www.alleganyworks.org.CalvertCountyDepartmentofEconomicDevelopmentformoreinformationseehttp://www.ecalvert.com/index.asp.CarolineEconomicDevelopmentCorporationformoreinformationseehttp://www.carolinebusiness.com/.CecilCountyOfficeofEconomicDevelopmentformoreinformationseehttp://www.ccgov.org/dept_ecdev/.

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CharlesCountyEconomicDevelopmentDepartmentformoreinformationseehttp://www.meetcharlescounty.com/apps/econweb/public/listProperties.jsp.DorchesterCountyEconomicDevelopmentOfficeformoreinformationseehttp://www.choosedorchester.org/.FrederickCountyOfficeofEconomicDevelopmentformoreinformationseehttp://www.discoverfrederickmd.com/.GarrettCountyEconomicDevelopmentDepartmentformoreinformationseehttp://www.gcedonline.com/.KentCountyEconomicDevelopmentOfficeformoreinformationseehttp://www.kentcounty.com/bus/MontgomeryCountyDepartmentofEconomicDevelopmentformoreinformationseehttp://www.montgomerycountymd.gov/dedtmpl.asp?url=/content/ded/index.asp.PrinceGeorge’sCountyEconomicDevelopmentCorporationformoreinformationseehttp://www.pgcedc.com/.QueenAnne’sCountyDepartmentofEconomicDevelopmentandAgricultureformoreinformationseehttp://www.qac.org/default.aspx?pageid=66&template=3&toplevel=34.SomersetCountyEconomicDevelopmentCommissionformoreinformationseehttp://www.somersetcountyedc.org/.St.Mary’sCountyDepartmentofEconomicandCommunityDevelopmentformoreinformationseehttp://www.co.saint‐marys.md.us/decd/.TalbotCountyOfficeofEconomicDevelopmentformoreinformationseehttp://www.talbotcountymd.gov/index.php?page=Economic_Development.Hagerstown‐WashingtonCountyEconomicDevelopmentCommissionformoreinformationseehttp://www.hagerstownedc.org/.Salisbury‐WicomicoEconomicDevelopment,Inc.formoreinformationseehttp://www.swed.org/.WorcesterCountyDepartmentofEconomicDevelopmentformoreinformationseehttp://www.co.worcester.md.us/econ/econindex.htm.MarylandAssistancetoAgriculturalBusinessMarylandAgriculturalandResource‐BasedIndustryDevelopmentCorp(MARBIDCO)MARBIDCOisaMarylandstatesponsoreddevelopmententityformedforthepurposeofdeliveringenhancedfinancingopportunitiestotheagriculture,forestryandseafoodindustriesandtoassistinstateandlocal,rurallandconservationagencieswiththefarmlandandforestlandpreservationefforts.Formoreinformation,pleaseseehttp://www.marbidco.org.a.MARBIDCOLoanProgramsMARBIDCOoffersthreedirectloanprogramsandanequityfinancingprogram.(1)MarylandResource‐BasedIndustryFinancingFundofferslow‐interestloanstopurchaselandandcapitalequipmentforfoodandfiberproductionandprocessingactivities.(2)TheRuralBusinessWorkingCapitalLoanFundoffersloansforworkingcapitalandequipmentpurchasesat1%belowtheprevailingprimerate;whiletheForestryEquipmentandWorkingCapitalLoanFundoffersflexibility‐pricedloansto

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Maryland’sforestproductsbusinessesforworkingcapitalandequipmentpurchases.(3)TheAgriculturalCooperativesEquityInvestmentProgromprovidescapitalinvestmentneededbyagriculturalcooperativeswhenbusinessoperationsarebeginningorsignificantlyexpanding.b.MARBIDCOgrantprograms:MARBIDCOoffersthefollowinggrantprograms:(1)TheRuralBusinessEnergyEfficiencyGrantandLoanInterestRateBuy‐DownProgram,thathelpsestablishedfirmsandproducersinacquiringenergysavingequipmentandtechnology.Grantscanbemadeupto10%ofaproject’scost,contingentuponathirdpartyenergyauditreport.(2)TheMarylandFarmandProducerViabilityProgramwascreatedtohelpearlystageenterpriseswithbusinessplandevelopmentandidentifyingandaccessingoperationalandmarketrisk.(3)MarylandValueAddedProducerGrantProgramprovidesaportionofthefederallyrequiredmatchingfundstoqualifiedMarylandapplicantstoUSDA’shighlycompetitiveValue‐AddedProducerGrantProgram.(4)TheLocalGovernmentAgricultural/Resource‐BasedIndustryProjectCostShareProgramsupportslocalandregionalruralbusinessdevelopmenteffortsbyofferingmatchingcostshareassistanceforagribusinessdevelopmentprojects.c.InstallmentPurchaseAgreementsBeginningin2008,MARBIDCOofferedinstallmentpurchaseagreementstosellersoflandconservationeasementstobenefitlandownersandtheStateinataxadvantagearrangement.Inaddition,anewprogram,theNextGenerationFarmlandAcquisitionProgramwasdevelopedtoassisttohelpyoungorbeginningfarmerstopurchaserandpermanentlypreservefarmland.d.Formoreinformationseehttp://www.marbidco.org/about/contact.html.OtherMarylandAgricultureAssistancea.MarylandDepartmentofAgricultureMaryland'sDepartmentofAgicultureprovidesanumberofprogramstoassistcompanies.Amongthemarethefollowing(foradditionalprograms,pleaseseehttp://www.mda.state.md.us/):1.MarylandAgriculture’sMarketingServicesMarylandDepartmentofAgriculture’sMarketingServiceswhichfollowsandpromotesanaggressivemarketingstrategytoexpandeconomicopportunitiesforMarylandfarmersandfoodbusinesses,bothdomesticallyandinternationally.2.TheDepartmentofAgricultureMDAgrictulurealsooperatesmanyprogramsthatprotectthequalityofMaryland’sagricultureandfoodprograms:(1)PlantProtectionandWeedManagement;(2)ApiaryInspections(3)NurseryInspectionsandPlantQuestionnaire(4)TurfandSeedOversight(5)TheStateChemist(6)AgriculturalProductsGradingServices(7)EggInspections

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(8)GrainDealersLicensing(9)WeightsandMeasuresInspection(10)BoardofVeterinaryMedicineExaminers(11)TheHorseIndustryBoardFEDERALFINANCINGPROGRAMSU.S.SmallBusinessAdministration(SBA)GuarantyandLoanProgramsSBAGenerallyForover60yearstheUSSmallBusinessAdministration(“SBA”)hashelpedsmallbusinessownersbycounseling,financialsupport,contractsandotherformsofassistance.SBA'sprogramsnowincludefinancialandfederalcontractprocurementassistance,managementassistance,andspecializedoutreachtowomen,minoritiesandarmedforcesveterans.SBAalsoprovidesloanstovictimsofnaturaldisastersandspecializedadviceandassistanceininternationaltrade.SBAprovidesassistancesprimarilythroughitsfourprogrammaticfunctions:(1)AccesstoCapital(BusinessFinancing);(2)EntrepreneurialDevelopment&Education;(3)GovernmentContracting&FederalProcurement;and(4)AdvocacyforSmallBusinesses.SBALoanPrograms:SBAprovidessmallbusinesseswithanarrayoffinancingforsmallbusinesses,includingmicroloans,venturecapital,substantialdebtobligationsandloanguaranteeprograms.Formoreinformationseehttp://www.sba.gov/category/navigation‐structure/loans‐grants/small‐businessloans/sba‐loan‐programs.Basic7(a)LoanProgramThe7(a)LoanProgramincludesfinancialhelpforbusinesseswithspecialneeds.Loansareavailableforbusinessesthathandleexportstoforeigncountries,businessesthatoperateinruralareas,andforotherveryspecificpurposes.(i)SpecialPurposeLoans.SBAoffersseveralspecialpurpose7(a)loanstoaidbusinessesthathavebeenimpactedbyNAFTA,toprovidefinancialassistancetoEmployeeStockOwnershipPlans,andtohelpimplementpollutioncontrolmechanisms.1)CAPLines‐whichisanumbrellaprogramthathelpssmallbusinessesmeetcertainworkingcapitalneeds.(2)CAIP‐ortheCommunityAdjustmentandInvestmentProgramwhichisdirectedtoassistbusinessesaffectedbytheNorthAmericanFreeTradeAgreement.(3)PollutionControl–whichasof2011isnotcurrentlyofferedduetolackofappropriations,butisspecificallydesignedtohelpbusinessesthatarereducingtheirenvironmentalimpact.(4)EmployeeTrustsProgramwhichisdesignedtoprovidefinancialassistancetoEmployeeStockOwnershipPlans.(ii)ExpressProgramsthatofferexpeditedloanproceduresforselectborrowers,particularlyactivemilitary,veteransandborrowersfromdistressedcommunities.(iii)ExportLoanProgramswhicharedesignedtoaidsmallbusinessesexpandtheirexports.(iv)RuralBusinessLoanstoaidthesmallcommunity/ruralbasedlenderinstreamliningtheloanprocesstoaidbusinessesinlocalcommunitiesthathave

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sufferedeconomiclossandhighunemployment.(v)7(a)LoanProceedsmaybeusedtoestablishanewbusinessorassistintheacquisition,operationorexpansionofanexistingbusiness,includinganyofthefollowing:(1)Purchasinglandorbuildingsornewconstruction;(2)Purchaseofequipment,machinery,furniture,fixtures,suppliesormaterials;(3)Workingcapitalneeds;(4)Financingexistinginventoryunderspecialconditions;(5)Therefinancingofexistingbusinessindebtednessthatisnotalreadystructuredwithreasonabletermsandconditions;or(6)Topurchaseanexistingbusiness.(vi)Advantage7(a)LoanInitiativesareaimedatincreasingthenumberofloanstosmallbusinessesandentrepreneursinunderservedcommunities.(1)MaximumLoanSize$250,000(2)LoanGuaranteeof85%forloansupto$150,000and75%forloansgreaterthan$150,0007(m)LoanProgramorMicroLoanProgramItisaprogramthatprovidessmall,short‐termloanstosmallbusinessesandcertainnot‐for‐profit.(i)MaximumLoanamountis$50,000,averageloanis$13,000.(ii)Maximumloantermis6years(iii)InterestsRatesvarybasedonIntermediary,buthavebeenbetween8%and13%(iv)PermittedUses:(1)Workingcapital(2)Purchaseofinventory,supplies,furnitureorfixtures(3)PurchaseofmachineryorequipmentCDC504LoanProgramTheCDC/504loanprogramisdesignedtoencourageeconomicdevelopmentwithinacommunitybyprovidingsmallbusinesseswithlong‐term,fixedratefinancingforexpansionormodernization.(i)Typically,aCDC/504projectincludes:(1)Aloansecuredwithaprivatelenderwithaseniorlienfor50%oftheprojectcost(2)SBAprovidesa100%guaranteeddebentureandajuniorlienforupto40%ofprojectcost(3)Borrowermustcontribute10%ofprojectcostasequity(ii)Useof504LoanFunds.(1)Purchaseoflandandexistingbuildings,improvements,utilities,parkingorlandscaping.(2)Constructionofnewfacilitiesormodernization,renovationorconversionofexistingfacilities(3)Purchaseofmachinery&equipment(4)Cannotbeusedforworkingcapital,inventoryorrefinancingdebt.(iii)General(1)BorrowermustbeSmallBusinesswithSBASizeStandards

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(2)MinimumLoanis$1.5million(3)Collateralandpersonalguaranteesofownersrequired.SmallBusinessInnovationResearchProgram(SBIR)TheSBA’sOfficeofTechnologyadministerstheSmallBusinessInnovationResearch(SBIR)Program.TheSBIRisaimedatensuringthatsmallUS,high‐tech,innovativebusinessesplayasignificantroleinthefederalgovernment'sresearchanddevelopmentefforts.Formoreinformationseehttp://www.sba.gov/about‐sbaservices/7050.EligibilityCriteria(1)American‐ownedandindependentlyoperated(2)For‐profit(3)Principalresearcheremployedbybusiness(4)Companysizelimitedto500employeesParticipatingFederalAgenciesEachyear,elevenfederaldepartmentsandagenciesarerequiredbySBIRtoreserveaportionoftheirR&Dfundsforawardtosmallbusiness.Theseagenciesinclude:(1)DepartmentofAgriculture(2)DepartmentofCommerce(3)DepartmentofDefense(4)DepartmentofEducation(5)DepartmentofEnergy(6)DepartmentofHealthandHumanServices(7)DepartmentofHomelandSecurity(8)DepartmentofTransportation(9)EnvironmentalProtectionAgency(10)NationalAeronauticsandSpaceAdministration(11)NationalScienceFoundationSBIRApplicationProcessTheapplicationisaThreePhaseProgram(1)PhaseIisthestartupphase.Awardsofupto$100,000,forapproximatelysixmonths,supportexplorationofthetechnicalmeritorfeasibilityofanideaortechnology.(2)PhaseIIawardsupto$750,000,forasmanyastwoyears,expandsPhaseIresults.Duringthistime,theR&Dworkisperformedandthedeveloperevaluatescommercializationpotential.OnlyPhaseIawardwinnersareconsideredforPhaseII.(3)PhaseIIIistheperiodduringwhichPhaseIIinnovationmovesfromthelaboratoryintothemarketplace.NoSBIRfundssupportthisphase.Thesmallbusinessmustfindfundingintheprivatesectororothernon‐SBIRfederalagencyfunding.TheSBARole‐TheSBAplaysanimportantroleasthecoordinatingagencyfortheSBIRprogram.Itdirectsthe11agencies'implementationofSBIR,reviewstheirprogress,andreportsannuallytoCongressonitsoperation.IntellectualPropertyRightsParticipationintheSBIRprogramandtheSTTRProgram(discussedbelow)requirethesmallbusinesstoallocatecertainintellectualpropertyrightstothegovernment.

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Althoughsomeexclusionscanbemadeforintellectualpropertydevelopedpriortoparticipationineitherprogram,caremustbeexercisedinreviewingthecontractstoensurethatthemaximumprotectionavailabletothesmallbusinessisobtained.TheSmallBusinessTechnologyTransferProgram(STTR)LiketheSBIRProgram,theSTTRisasmallbusinessprogramthatprovidesfundingopportunitiesinthefederalinnovationresearchanddevelopmentarena.Thisprogramfocusesontheexpansionofpublic/privatesectorCentraltotheprogramisexpansionofthepublic/privatesectorpartnershiptoincludethejointventureopportunitiesforsmallbusinessandthenation'spremiernonprofitresearchinstitutions.EligibilityforForProfitEntities(1)American‐ownedandindependentlyoperated;(2)For‐Profit;(3)Principalresearcherneednotbeemployedbysmallbusiness;(4)Companysizelimitedto500employees.EligibilityforNonprofitResearchInstitutions(1)Nosizelimit.(2)LocatedintheUS.(3)Meetoneofthreedefinitions.(4)Nonprofitcollegeoruniversity.(5)Domesticnonprofitresearchorganization.(6)FederallyfundedR&Dcenter(FFRDC).ListofParticipatingAgencies.(1)DepartmentofDefense(2)DepartmentofEnergy(3)DepartmentofHealthandHumanServices(4)NationalAeronauticsandSpaceAdministration(5)NationalScienceFoundationTheseagenciesdesignateR&Dtopicsandacceptproposals.ApplicationProcess.TheparticipatingagenciesmakeSTTRawardsbasedonsmallbusiness/nonprofitresearchinstitutionqualification,degreeofinnovation,andfuturemarketpotential.Smallbusinessesthatreceiveawardsthenbeginathree‐phaseprogram.(1)PhaseIisthestartupphase.Awardsofupto$100,000forapproximatelyoneyearfundtheexplorationofthescientific,technical,andcommercialfeasibilityofanideaortechnology.(2)PhaseIIawardsofupto$750,000,foraslongastwoyears,expandPhaseIresults.Duringthisperiod,theR&Dworkisperformedandthedeveloperbeginstoconsidercommercialpotential.OnlyPhaseIawardwinnersareconsideredforPhaseII.(3)PhaseIIIistheperiodduringwhichPhaseIIinnovationmovesfromthelaboratoryintothemarketplace.NoSTTRfundssupportthisphase.Thesmallbusinessmustfindfundingintheprivatesectororothernon‐STTRfederalagencyfunding.SmallBusinessInvestmentCompany(SBIC)SmallBusinessInvestmentCompanies(“SBICs”)aregovernment‐supportedprivate

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equityfundswhichmakeinvestmentsinAmericansmallbusinessesunderlicensesgrantedbytheU.S.SmallBusinessAdministration(“SBA”).Oncelicensed,SBICsmustcomplywithSBAregulations.TheSBA’sInvestmentDivisionadministerstheSBICprogram.TheInvestmentDivisionislocatedattheSBA’snationalheadquartersat409ThirdStreet,SW,Washington,D.C.20006.TheSBICprogramwascreatedbyCongressin1958.Since1958,SBICshaveinvestedover$55billioninsmallU.S.companies.InthefiscalyearendingonSeptember30,2009alone,SBICsparticipatedinnearly2,700financings,investing$1,856,000,000in1,481smallbusinesses.ManymajorAmericansmallbusinesseswereassistedbySBICfinancingsduringtheirearlyyears.Theseinclude:Intel,AppleComputer,FederalExpress,JetBlueAirways,Staples,OutbackSteakhouse,RadioOneandBuild‐a‐BearWorkshop.AsofApril,2010,therewere311licensedSBICsinforty‐threestates.Therewere35SBICsinMarylandanditscontiguousstates;however,mostSBICsoperateonaregionalbasis,andthereforemanySBICslocatedeastoftheMississippiRiverarepotentiallyinterestedininvestinginMarylandsmallbusinesses.AdirectoryofallcurrentlylicensedSBICscanbefoundathttp://www.sba.gov/sites/default/files/inv_sbicall.txt.ThemostsalientfactorofthecurrentSBICprogramisthatlowinterestgovernmentloans,knownas“Leverage”,arecustomarilymadeavailabletoSBICsintheformof“Debentures”,whicharetenyearunsecuredloansunderthetermsofwhichinterestmustbepaidtothegovernmentsemi‐annually.Thepracticaleffectofthesemi‐annualinterestrequirementisthatSBICsmustnecessarilyinvestmostoftheircapitalincashflowpositivecompaniesthatwillbeabletopayinteresttotheSBICssemi‐annuallysothattheSBICsinturnwillbeabletopaytheSBAinterestontheDebenturessemi‐annually.TheDebentureprogramisthuswellsuitedtothemezzanineiinvestingmodel.ThismeansthatSBICinvestmentsinprivatecompaniesaretypicallystructuredasdebt(generallyunsecuredorwithajuniorsecuredposition)bearingasignificantlyhigherinterestratethannormalbankloans,andtheSBICfurtherobtainsanequity“kicker”intheformofwarrants.TheSBICwillgenerallyeitherobtainaseatonthecompany’sboardofdirectorsoratleastobservationrightsatboardmeetings.VirtuallyeverySmallBusinessInvestmentCompany(“SBIC”)isorganizedasalimitedpartnership.Thelimitedpartnershipisgenerallysetupwithaninitialtenyearlife.TheworkingassumptionoftheSBAisthatforthefirstfiveyearstheSBICwillmakeinvestmentsinportfoliocompaniesandforthesecondfiveyearstheSBICwillexitthoseinvestments.BecauseoftherelativelyshorttimehorizonofSBICinvestments,theSBICwillgenerallynegotiatealternateexitoptionsatthetimethattheSBICfinancingisarranged.Further,becausemostSBICsderivemostoftheirincomefromtheirequity“kickers”,SBICsaremostinterestedininvestinginsmall,rapidlygrowingfirmswithsolidbusinessplansandcapablemanagement.FurtherinformationabouttheSBICprogramcanbeobtainedfromtheofficialSBAwebsite:http:archive.sba.gov/aboutsba/sbaprograms/inv/index.html.Formoreinformationseehttp://www.sba.gov/content/sbic‐program‐0.CooperativeResearchandDevelopmentAgreements(CRADAs)

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CRADA’sarewrittenagreementsbetweenoneormorefederalagenciesandoneormorenon‐federalparties.ACRADAallowsthefederalgovernmentandnon‐federalpartnerstooptimizetheirresources,sharetechnicalexpertiseinaprotectedenvironment,shareintellectualpropertyemergingfromtheeffort,andadvancethecommercializationoffederallydevelopedtechnology.CRADA’swerecreatedasaresultoftheStevenson‐WydlerTechnologyInnovationActof1980,PublicLaw96‐480,asamendedbytheFederalTechnologyTransferActof1986,PublicLaw99‐502.CRADA’sareauthorizedby15U.S.C.§3710aetseq.andaresubjecttoapplicablegovernmentagencyregulations.PurposeCRADA’sallowgovernmentresearcherstoexchangetechnicalexpertisewithnonfederalpartnersandtoacceptreimbursementforresearchconductedundertheCRADA.CRADA’sareappropriatewhenideas,staff,materials,equipmentistobeexchangedoveraperiodoftimeforthepurposeofcollaborationand/oraninventionmayresult.MoneycanbeprovidedtoagovernmentagencyunderaCRADA.Thegovernmentmaycontributeawidevarietyofresources,includingpersonnel,services,facilities,equipment,intellectualproperty,andanyotherresourcesthatwouldfallundertheumbrellaof“personnel,servicesandproperty.”Thegovernmentmaynotcontributefunds.[edit]ParticipationCRADA’smustinvolveatleastonenon‐federalparty.Inadditiontogovernmentscientists,theotherparticipantsinaCRADAmaybeoneormoreofthefollowing:privatecorporations(U.S.orforeign),nonprofitandnot‐for‐profitinstitutions(U.S.orforeign),individuals(U.S.orforeign),stateandlocalgovernments(U.S.),andotherfederalagencies(U.S.)Smallbusinessesgenerallyreceivespecialconsideration.BusinesseslocatedintheU.S.thatagreethattheproductsembodyinginventionswillbesubstantiallymanufacturedintheU.S.receivepreferentialtreatment.Incaseofanentityunderthecontrolofaforeigngovernment,considerifthatforeigngovernmentpermitsU.S.entitiestoenterintoCRADA’sorlicensingagreements.AgreementACRADAisnotaprocurementcontractorgrantandshouldnotbeviewedasanalternativetonormalprocurementprocedures.Generally,thegovernmentalagencyprovidesastandarddocumenttobeginnegotiations.Thepartiesmaynegotiatesomeoftheprovisions.Proposals&InformationThereisnocentrallistingforCRADAopportunities,whichariseperiodically.Informationmaybeobtainedbycontactinggovernmentagenciesorlaboratoriesrelevanttoyourindustrydirectly.EachgovernmentagencyorlaboratorywillprovideadescriptionofanyexistingCRADAopportunityandproceduresforenteringintoaspecificCRADA.Additionally,prospectiveCRADA’sareoftenadvertisedintheFederalRegister:http://www.gpoaccess.gov/fr/SmallBusinessConcernAsmallbusinessconcernisabusinessorganizedforprofitwithitsprincipalplaceof

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businessintheUnitedStates,thatdoesnotexceedthenumericalsizestandardforitsindustry.Theseentitiesareself‐certified,anddonotneedacomplicatedapplicationprocesstypicallyrequiredintheotherprogramsidentifiedabove.ThisisintendedtoinsurethatfundsearmarkedforsmallbusinessesgotosmallbusinessesandmostoftheprogramsreferencedhereunderrequirethattheapplicantfirmmeetthesizestandardsestablishedbytheSBAforitsspecificSICorNAICSindustrycode.Thesesizestandardssetforththetotalannualreceiptsthatcanbereceivedbyeachentityand,insomecircumstancesacaponthenumberofemployeesthatanapplicantfirmhastostillbeconsideredasasmallbusiness.ThisisoneofthebroadestcategoriesandtherearecertaincontractsavailableforsmallbusinessconcernsregardlessofsocialoreconomicdisadvantageasmayberequiredunderotherSBAprograms.Forexample,atemporaryplacementagencyforemployeescannothaveannualreceiptsinexcessofmorethan$6.5millionayeartoqualify.Formoreinformation,pleaseseehttp://www.sba.gov/content/ami‐small‐business‐concern.SmallDisadvantagedBusinessConcern(SDB)&8(a)ProgramSmallDisadvantagedBusinessConcernsParticipantsunderthe8(a)programandtheSDBprogramreceivebroadassistancefromtheSmallBusinessAdministration(the“SBA”)intendedtoassistsociallyandeconomicallydisadvantagedfirmsincompetinginthemarket.Itisanine‐yearbusinessdevelopmentprogramthatprovidescounseling,marketingandtechnicalassistancetosmallbusinesscertifiedforparticipation.TheexceptionisthattheSDBprogramstrictlypertainstobenefitsinfederalprocurement.8(a)firmsautomaticallyqualifyforSDBprogram.Formoreinformation,pleaseseehttp://www.sba.gov/content/8a‐business‐development.EligibilityTobeeligiblefor8(a)orSDBtreatmenteligiblefirmsmustbe(i)asmallbusiness,(ii)unconditionallyownedandcontrolledbyoneormoresociallyandeconomicallydisadvantagedindividualswhoareofgoodcharacterandcitizensoftheUSand(iii)whohavedemonstratedthepotentialforsuccess.OnFebruary11,2011,theSBAadoptednewrulesregardingthe8(a)programwhichtakeeffectonMarch14,2011.Genderisnotcurrentlyenoughtoqualifyasbelongingtoasociallydisadvantagedclassandtypically8(a)programsarereservedforminoritybusinesses.Inordertoestablishthatanindividualiseconomicallydisadvantagedthepersonaladjustedgrossincomeoftheindividualcannotexceed$250,000averagedoverthepastthreeyearsintially,and$350,000forcontinuedeligibility.Inaddition,inordertoestablishthattheapplicantfirmiseconomicallydisadvantaged,theownermaynothaveapersonalnetworth(afterexcludingtheindividual’sequityinthefirmandequityintheirprimaryresidenceandIRAaccounts)ofmorethan$250,000initiallyor$750,000forcontinuingeligibility.Moreover,theapplicantcannothavetotalassetsthatexceed$4millionforinitialeligibilityand$6millionforcontinuedeligibility.TheSBAalsoconsiderstheindividual’saveragetwo‐yearincome,fairmarketvalueofallassetsownedbytheindividualowners,theaccesstocapitalandcreditavailabletotheindividualandthefinancialconditionoftheapplicantfirmin

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determiningeconomicdisadvantageBenefitsCertifiedSDBsareeligibleforspecialbiddingbenefitsandtheSBAoffersincentivestoprimecontractorstoawardcontractstoeligible8(a)/SDBfirms.Thesebenefitsinclude:EvaluationcreditstoprimecontractorstoincreaseandcreatesubcontractingopportunitiesforSDBsandformeetingcertainSDBsubcontracttargets.ListingonPRO‐Net,anon‐lineregistryofSDB‐certifiedfirms,thatcanbesearchedbycontractingofficersandlargebusinessprimecontractorsforpotentialsuppliers.Priceevaluationadjustmentsofupto10percentwhenbiddingonfederalcontractsincertainindustriesandundercertaincircumstancestopreventSDBfirmsfrombeingoutbidbylargercompanieswhohavegreatereconomiesofscale.Thepricecreditorpriceevaluationadjustmentsarenotavailableforindustrycategorieswherebenchmarksarenotrequired.Inaddition,thepriceevaluationadjustmentsdonotapplyto1)procurementsthatarebelowthesimplifiedacquisitionthresholdof$100,000;2)procurementsthataresetasideforsmallbusiness;3)procurementsundertheSBA8(a)program.Certainbusinessplanningandbusinessdevelopmenttools,particularlyintheareaofprocurement.VeteranOwnedSmallBusinessConcern&ServiceDisabledVeteranOwnedSmallBusinessConcernsAVeteranOwnedSmallBusinessConcern(VOSB)isasmallbusinessconcernofwhichnotlessthan51percentisownedbyoneormoreveterans;andoneormoreveteranscontrolthemanagementanddailyoperationsofsuchfirm.Aservicedisabledveteranownedsmallbusinessconcern(SDVOSB)hasthesamecriteriaasaVOSB,exceptthatthe51%alsomustbeownedbyaveteranthatwaswoundedandbecamedisabledinconnectionwithhisorherserviceinthearmedforces.Ineachcasetheveteranmustcontrolthemanagementanddailyoperationsofthebusinessandholdthehighestofficerpositioninthebusiness.Bothtypesofconcernsmayself‐certifytheirstatusthroughtheprovisioninFAR52.219‐1.Manygovernmentagencieshaveestablishedaset‐asideprogramforservicedisabledveterans.Inaddition,therearepotentiallycertainprocurementpreferencesforsmallbusinessconcernsownedandcontrolledbyservice‐disabledveterans.TheSBAmayconsideraservice‐disabledveteranasdisadvantagedforthepurposesoftheSection8(a)programonacase‐by‐casebasis,whichwouldgrantSDVOSBfirmadditionalbenefits.Formoreinformation,pleaseseehttp://www.sba.gov/content/veteranservice‐disabled‐veteran‐owned.Woman‐OwnedSmallBusinessConcerns(WOSB)TheWOSBprogrampromotesthegrowthofwomen‐ownedbusinessesthroughprogramsthataddressbusinesstrainingandtechnicalassistance,andprovideaccesstocreditandcapital,federalcontracts,andinternationaltradeopportunities.Thisisaself‐certifyingprogramgovernedbytheSBAandshouldnotbeconfusedwiththeMBE/DBE/programaffiliatedwiththeDepartmentofTransportationthathasmorestringentcertificationprocedures.

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ItisnotuncommonforafederalcontractortorequireaWOSBfirmtoprovideevidenceofcertification,andtheMBE/DBEprogramdiscussedbelowmayassistinprovidingsuchcertification.Formoreinformation,pleaseseehttp://www.sba.gov/content/women‐owned‐small‐business‐federal‐contractprogram.EligibilityWomen‐ownedsmallbusinessconcernisasmallbusinessconcern(1)whichisatleastfifty‐onepercent(51%)ownedbyoneormorewomenwhoareUScitizens;or,inthecaseofanypubliclyownedbusiness,atleast51percentofthestockofwhichisownedbyoneormorewomen;and(2)whosemanagementanddailybusinessoperationsarecontrolledbyoneormorewomen.AneconomicallydisadvantagedWOSBor(EDWOSB)isaWOSBwhoseownersareeconomicallydisadvantaged.Awomanispresumedeconomicallydisadvantagedifherpersonalnetworthislessthan$750,000(withsomeexclusions);heradjustedgrossyearlyincomeaveragedoverthethreeyearspriortocertificationislessthan$350,000,andthefairmarketvalueofallofherassetsislessthan$6million(withsomeexclusions).Exclusionsfromthepersonalnetworthcaluclationareasfollows:theownershipinterestintheEDWOSBequityintheprimarypersonalresidenceanyincomereceivedfromtheEDWOSBthatisaSCorporation,LLCorpartnershipifthewomancandemonstratethatthedistributionswerereinvestedintotheentityorusedtopaytaxesarisinginthenormalcourseofbusinessIRAfundsorotherofficialretirementaccountsthatareunavailableuntilretirementagewithoutasignificantpenalty.BenefitsThereareannualgoalsestablishedbythegovernmenttohaveatleastfivepercent(5%)ofthetotalvalueofallprimecontractandsubcontractawardsforeachfiscalyeartobeawardedtoWOSBs.Contractingofficersmaysetasidecontractsin83NAICSindustrieswhereWOSB'sareunderrepresentedorsubstantiallyunderrepresented.FormoreinformationontheNAICScodesaffected,pleaseseehttp://www.sba.gov/sites/default/files/files/gc_wosb_naics_grids.pdf.ThesetasidecanonlyoccurifthecontractingofficerhasareasonableexpectationthattwoormoreWOSBsorEDWOSBswillsubmitoffersforthecontractandtheanticipatedcontractpriceisnotgreaterthan$5millionformanufacturingcontractsand$3millionforothercontracts.INCUBATORSUniversityIncubatorsTechnologyAdvancementProgramatUniversityofMarylandCollegePark(TAP)TAP,isaprogramattheUniversityofMarylandCollegePark.ItisadivisionoftheA.JamesClarkSchoolofEngineering.TAPoffersacost‐effectivemodernwetlaboratory,furnishedofficesandconferenceroomsequippedwithTelecomsystems,internet,HVACaroundtheclock,andutilities.Formoreinformationontheprogram,seewww.tap.umd.edu.UniversityExpertise‐ExperiencedprofessionalsassistcompaniesinTAPwith:(a)Extensiveadvisingandcoaching(b)Fundraisingfrominvestorsandgrantors(c)

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Marketanalysis,businessplanningandcustomeracquisitionstrategy(d)FinancialAnalysis(e)Preparationsforinvestorpresentationsandduediligencepreparation(f)Legaladvice(g)TAPhastheirownIntellectualPropertyClinic(h)Pressreleaseservices(i)Executiverecruiting(j)LegalandIntellectualPropertyprotectionclinic(2)SpecialFacilities(a)BiotechnologyResearchandEducationPrograms(b)MarylandNanoCenter(c)UniversityofMarylandEnergyResearchCenterEligibilityCriteria&ApplicationCandidatesfortheprogrammustbeearly‐stagecompaniesthataredevelopingtechnologyorientedproductsorservices.Theadmissionprocessgenerallycantakeanywherefromafewweekstoafewmonths.Periodofresidenceintheincubatorisgenerallyonetofouryears.TherearethreestepsanapplicantmusttakeinordertobeacceptedintotheTAPprogram.(a)Submitanexecutivesummary.OncethesummaryisreviewedTAPmanagementwillcontactapplicantstoquestionthemabouttheirsummary.Also,TAPexecutiveswillrequireaface‐to‐facemeetingorteleconferencewiththeapplicant.(b)Ifacompany’sexecutivesummaryisapprovedthananentrepreneurwillneedtocreateaTechnicalPlan.ThisplanwillbeanalyzedbyTAP’sexecutivestodeterminethefeasibilityofthecompany.(c)Ifthecompany’stechnicalplanisapprovedthananentrepreneurwillneedtosubmitaBusinessPlanandafterwardstheentrepreneurwillneedtopresenthisorherBusinessPlantoapanelofindustryandbusinessexperts.Formoreinformation,pleasesee:http://www.tap.umd.edu/IncubatorandAccelerator‐UniversityofMarylandBaltimoreCounty(UMBCTechCenter)ThisprogramisadministeredbytheUniversityofMaryland‐BaltimoreCounty(UMBC),locatedadjacenttotheUMBCcampus.Thisprogramisapartofbwtech@UMBCResearchandTechnologyPark.UMBC’sincubatoralsooperatesanIdeaLabtohelpUMBCstudentsandfacultydevelopbusinesses.Thisincubatorassistsstart‐upbiotechnologycompaniesorexistingmid‐sizeinformationtechnologyfirmswhodesiretogrowtheirbusiness.“ThetechnologycenteratUMBCisarguablytheregion’smostsuccessfulincubatorforbio‐sciencecompanies.InVitroTechnologiesaprofitablecompanythatgrewfromtwoemployeesto80in10years,andCellWorks,whichhasgrownfromthreeto30employeesoverthepast4years,arethetwomostnotableexamplesofcompaniesthatgraduatedUMBC’sincubationprogramandfoundhomesinBaltimore”OneBillioninProjectsforJohnsHopkinsinBaltimore—CharlesBelfoure.UMBCbwtech@UMBCcreatedtheresearchandtechnologyparktostrengthenitsroleasaneconomicengineforMarylandandBaltimoreCounty.Thisprogramhasaninfrastructureinplacetohelplaunchabusinessorexpandanalreadyexistingcompany.Anyfirmacceptedbythisorganizationwillhaveaccesstouniversityexpertise,UMBCstudents,variousprograms,andUMBC’sfacilities.AboardcomposedofoveradozenprofessionalsisabletoassistcompaniesparticipatingintheIncubatorandAcceleratorPrograms.Thetypicalperiodofresidenceintheincubatorislimitedtothreeyears,however,withapproval,lifesciencescompaniesmaybeabletostaylonger.TheIncubatorandAcceleratorcomplexincludesthreebuildings:themainbuildingisafour‐storyfacilitywithtwofull‐serviceelevators,on‐sitediningoverlookingthe

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cityofBaltimore,andstate‐of‐the‐artconferenceandseminarrooms.Thebiotechnologybuildingisathree‐storyfacilityofofficesandwetlaboratorieswithafullserviceelevator,loadingdock,andhandicappedaccessibleloadingdock.Finally,thelastbuildinghasUMBCTrainingCenterswhichprovideAcceleratorandIncubatorparticipantswithprofessional,scientificandtechnicaltraining.Formoreinformation,pleaseseewww.bwtechumbc.com.(1)TheIncubatorProgramisdesignedforstart‐upcompanies.(2)TheAcceleratorProgramisdesignedforsecondstagecompaniesthatarelookingtoexpand.(3)AprogramthatisuniquetoUMBCisACTiVATEwhichisayear‐longprogramthatpairscompetentbusinesswomenfromtheMarylandareawithtechnologiesthatweredevelopedbystudentsatMaryland.ThisprogramreceivedanawardfortheBestSpecialtyEntrepreneurshipEducationProgramfromtheU.S.AssociationforSmallBusinessEntrepreneurship’s.(4)thereareoveradozenresearchprogramsatUMBCdesignedtofacilitatethesuccessofanystart‐uporfledglingcompany.Experiencedprofessionalsareavailabletohelpanycompany,whetherstart‐uporemerging.Theyprovideservicesrangingfrom:(a)Comprehensivebusinessplanassistance.(b)Providingformalbusinessplanoverviews.(c)Assessingstrengthsandweaknessesofcompanies.(d)Recruiting;qualifyingandorganizingprofessionalmentorsandexternalprofessionalresourcesforclients.StudentsStudentsareactiveinservingthecompaniesintheseprograms.Thereare11,000studentsatUMBCwhoaremajoringineitherIT,Engineering,theSciencesorLiberalArts.TherearenetworksinplaceatUMBCtointroduceUMBCalumsandUMBCstudentswithcompaniesintheAcceleratorandIncubatorprograms.EligibilityCriteriaa.Anapplicantforthisprogramneedstohaveaninformationtechnologyorbiotechnologyfocus.Also,he/shecouldhaveresearchanddevelopmentcomponentstohis/herbusiness.b.Theapplicationfortheincubatorcanbecompletedelectronicallyandiscomposedofthreeparts;generalapplication,executivesummary,andsourcesandusesstatement.http://www.umbc.edu/techcenter/application.htmlc.TheUniversityofMarylandtakesasmallequitypositioninanycompanythatisacceptedintotheincubatorprogram.Traditionally,theytakea1%equityshareforeveryyearthatacompanyparticipatesintheprogram.AcceleratorcompaniesenterintocommercialleaseswiththeUniversityofMarylandanddonotcedeanyequitytotheschool.Formoreinformation,pleasevisit:http://www.bwtechumbc.com/Non‐UniversityIncubators.ChesapeakeInnovationCenterTheChesapeakeInnovationCenterisabusinessacceleratorthatfocusesthepowerofentrepreneurshiponAmerica’smostpressingsecurityrequirements.CreatedbytheAnneArundelEconomicDevelopmentCorporation,CICsourcesandscreens

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earlystagetechnologycompaniesandconnectsthosethatmatchthedesiredcriteriatoavaluablenetworkofindustryleading“Partners”inboth,thepublicandprivatesectors.Formoreinformation,seehttp://www.cic‐tech.org.EmergingTechnologyCenter(ETC)TheEmergingTechnologyCenterisanonprofitbusinessincubatorprogramthatisgearedtowardgrowingearlystage,technology‐basedcompaniesinBaltimoreCity.ETCoperatesoutofthreefacilitiesinBaltimoreCity,andisoneoftheregionsmoresuccessfulincubators.Formoreinformation,pleaseseehttp://www.etcbaltimore.comwww.etcbaltimore.com.FrederickInnovativeTechnologyCenter,Inc.(FITCI)FITCI'smaingoalistofosterentrepreneurshipinFrederickCountyandactivelycontributetotheCounty'scontinuedjobgrowthandbusinessstability.Byprovidingentrepreneurialstart‐upassistancetoyoungcompaniesinanurturingandsupportiveenvironment,FITCIencouragestechnologicalinnovationandacceleratesthedevelopmentofcommerciallyviable,technology‐basedbusinesses.Formoreinformation,pleaseseehttp://www.fitci.org.GarrettInformationEnterpriseCenterTheGarrettInformationEnterpriseCenterisatechnologyfocusedincubatorbuildingwhosefocusistosupporttheeconomicgrowthofGarrettCountybycreatinganenvironmentforfacilitatingthesuccessfuldevelopmentofinformationintensivecompanies.Formoreinformation,pleaseseehttp://www.giecworks.comGermantownInnovationCenterPartofMontgomeryCounty’sBusinessInnovationCenter,althoughdescribedasajointpartnershipwithMontgomeryCommunityCollege.Formoreinformation,pleaseseehttp://www.montgomerycountymd.gov/dedtmpl.asp?url=/content/ded/incub/gic/index.asp.HagerstownCommunityCollege'sTechnicalInnovationCenter(WashingtonCounty’sBusinessIncubatoratHagerstownCommunityCollege)WesternMaryland’slargestandmostcomprehensivetechnologybasedbusinessincubator.Formoreinformation,pleaseseehttp://www.technicalinnovationcenter.com.HigherEducationandAppliedTechnologyCenterAone‐stoptechnologyresourceforhighereducationcoursesanddegrees,technicaltrainingandcertification,customizedcorporatetraining,meetingandconferencefacilities,videoconferencingandnetworkedcomputerlabswithSGI,Unix,NTandWindows2000.Thecenteralsofeaturesahigh‐performancemanufacturinglab,biochemicallab,alongwithatechnologybusinesspark(thearea'sclosesttotheArmyfacilitiesatAberdeenProvingGround)thathasflexibleoffice,labandtestingunitsandareastobuildon.Formoreinformation,pleaseseehttp://www.heatcentermaryland.com/.NeotechIncubatorTheNeoTechIncubator,facilitatedthroughtheCenterforBusinessandTechnologyDevelopment,helpsentrepreneursdevelopintothrivingcompaniesandispartoftheHowardCountyEconomicDevelopmentAuthority.Formoreinformation,pleaseseehttp://www.thecenter.biz.

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PrinceGeorge’sCounty–TechnologyAssistanceCenterThePrinceGeorge’sCountyTechnologyAssistanceCenter(TAC)isanincubatorprogramestablishedtofosterthecreationandgrowthofearlystagetechnologycompaniesinPrinceGeorge’sCounty.AsanintegralpartofthePrinceGeorge’sCountyEconomicDevelopmentCorporation,theTACpromoteseconomicdevelopmentbyfosteringthesuccessfulgrowthofitsincubatorcompaniesthroughprovisionofaffordablefacilitiesandabroadrangeofbusinessandtechnicalservices.TheTACencouragesandsupportshigh‐growthpotentialtechnologycompanies,withapreferenceforthosedevelopingproprietaryproductsandservices.Formoreinformation,pleaseseehttp://www.pgcedc.com/tac.RockvilleInnovationCenter(RIC)TheRICprovidesspaceandsupportprogramsfordomestictechnologystartups,aswellasforinternationaltechnologycompaniesinterestedinopeningtheirfirstU.S.office.Formoreinformation,pleaseseehttp://www.rockvilleredi.org/business/incubator.html.ShadyGroveInnovationCenterFormerlyknownastheMarylandTechnologyDevelopmentCenter,theShadyGroveInnovationCenterisaprojectinitiatedandmanagedbyMontgomeryCountyDepartmentofEconomicDevelopment.Itwasdeveloped,financedandconstructedasajointpartnershipbetweenthecountyandtheStateofMaryland.Formoreinformation,pleaseseehttp://www.mcinnovationnetwork.com/facilitiesandtenants/facilities/shadygrove‐ic/.SilverSpringInnovationCenter(SSIC)TheSSIChas20,000squarefeetofofficeandR&Dspaceinafour‐storybuildingatthecornerofGeorgiaAvenueandBlairMillRoad.Designedforstart‐upandearlystageinformationtechnologybusinesses,SSIChasover40individualofficesavailableinvaryingsizesanddesigns.Amenitiesincludeastate‐of‐the‐artcommunicationssystemwithaT1lineandthreetofourdatadropsineachoffice,24‐houraccesswithampleparking,sharedofficeequipment,conferenceandmeetingspace,storagespaceandaloadingdock.Formoreinformation,pleaseseehttp://www.montgomerycountymd.gov/mcgtmpl.asp?url=/content/ded/incub/ssic/index.asp.TawesScience/TechnologyIncubatorTheTawesIncubatorisAlleganyCounty'sfirstincubatorfortechnology‐relatedbusinessesinaportionofthe40,000square‐footTawesHall.Formoreinformation,pleaseseehttp://alleganyworks.org/abc_cd/ABC/.TowsonGlobalTowsonGlobal,theBusinessGlobalizationCenter,isTowsonUniversity’sinternationalincubatorforearly‐stagecompanies.TowsonGlobalhelpsbridgethewayforentrepreneurialenterprisestofindsuccessintheglobaleconomy.TheCenteraccomplishesthisbyprovidingbusinesseswithawiderangeofsupportneededtoflourishintoday’scompetitiveglobalenvironment,suchasofficefacilities,businesscounseling,andworkshops.Formoreinformation,pleaseseehttp://www.towsonglobal.com.WheatonBusinessCenter(WBIC)

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TheWBICprovidesofficespace,conferenceroomsandsupportservicesforapproximately25‐30localsmallbusinesses.Formoreinformation,pleaseseehttp://www.mcinnovationnetwork.com/facilitiesandtenants/facilities/wheatonic/.IncubationAssociationsTheMarylandBusinessIncubationAssociation(MBIA)TheMBIAisanassociationofbusinessincubatormanagersdedicatedtosharingresources,information,andbestpracticesamongthememberswiththeoverallgoalofpromotingbusinessincubationexcellencewithinallMaryland'sincubators.Formoreinformation,pleaseseehttp://www.mdbusinessincubation.org.TheNationalBusinessIncubationAssociation(NBIA)TheNBIAistheworld'sleadingorganizationadvancingbusinessincubationandentrepreneurship.Itprovidesthousandsofprofessionalswiththeinformation,education,advocacyandnetworkingresourcestobringexcellencetotheprocessofassistingearly‐stagecompaniesworldwide.Formoreinformation,pleaseseehttp://www.nbia.org.BUSINESSENTERPRISEPROGRAMS.MarylandMinorityBusinessEnterpriseProgramTheMinorityBusinessEnterprise(MBE)ProgramisoperatedbytheGovernor’sOfficeofMinorityAffairs.TheMBEProgramisagoalbasedinitiativetoachieveapercentageofMBEparticipationonStateissuedcontracts.TheMBEwasestablishedtoencourageminorityandwomenownedbusinesstoparticipateintheStateprocurementprocess.Marylandagenciesarerequiredtostructuretheirprocurementstoachieveanoverallminimumof25%ofthetotaldollarvalueoftheirprocurementcontractsdirectlyorindirectlyfromcertifiedMBEfirms.Marylandagenciesarerequiredtoattempttoachieveaminimumof7%ofthetotaldollarvalueoftheirprocurementcontractsdirectlyorindirectlyfromcertifiedAfrican‐American‐ownedbusinessesand10%ofthetotaldollarvalueoftheirprocurementcontractsdirectlyorindirectlyfromcertifiedwomen‐ownedMBEbusinesses.InordertoparticipateintheMBEprogram,afirmmustfirstobtaincertificationasaMBE.TheOfficeofMinorityBusinessEnterpriseoftheMarylandDepartmentofTransportation(MDOT),isuniformcertificationagencyfortheStateofMaryland,andistheonlyStateagencythathasauthoritytocertifyafirmasaMBE.OnceacompanyiscertifiedthroughMDOT,itmayparticipateasaMBEsubcontractoronANYstatecontract,regardlessoftheagency.TobeeligibleforcertificationasanMBEfirm,abusinessmustbeatleast51%ownedandcontrolledbyoneormoresociallyandeconomicallydisadvantagedindividuals.AfirmdesignatedasanMBEandwillhaveitsnameappearintheMBEInternetDirectory,areferencedocumentmadeavailabletoallStatedepartments/agencies,thecontractingcommunityandthegeneralpublic.MBEcertificationisdesignedtoexposeyourcompanytoopportunitiesonStateandlocalgovernmentprojects.ThenamesofallcertifiedMBEbusinessesappearinMDOT’sMBEDirectory,whichisavailableonlineandiswidelyusedbyStateagencies,localgovernments,contractors,andthegeneralpublic.Certificationdoesnotguaranteeworktoanycertifiedfirm.Althoughcertificationenhancesafirm’sexposuretoprimecontractorsandthebusinesscommunity,acertifiedfirmstill

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mustmarketitself,anditsservices.AllStateagenciesarerequiredtouseeMarylandMarketplace(eMM)toadvertisecontractopportunities.Inordertoreceiveacontractaward,avendormustberegisteredoneMM.Maryland'sDepartmentofGeneralServicesadministerseMM,andtheeMMwebsitecanbefoundat:http://www.eMarylandMarketplace.com.InadditiontoeMM,Stateagenciesalsoareencouragedtosendnoticesofprocurementopportunitiestominoritycontractorassociationsandpublications.Formoreinformation,seealsohttp://www.marylandtransportation.com/EligibilityCriteriaTobeeligibleforcertificationasanMBEfirm,abusinessmustbeatleast51%ownedandcontrolledbyoneormoresociallyandeconomicallydisadvantagedindividuals,whosenetworthdoesnotexceed$1,500,000.Additionally,non‐profitfirmsthatareorganizedtopromotetheinterestsofthephysicallyormentallydisabledalsoareeligibleforMBEcertification.Anindividualispresumedtobesociallyandeconomicallydisadvantagedifthatindividualis:African‐American;Hispanic‐American;Asian‐American;Native‐American;orawoman(Disabledindividuals,whoarenotmembersofoneoftheaforementionedgroups,mayalsobeeligibleiftheyownandcontroltheirbusinessandestablishtheirsocialandeconomicdisadvantage).AdeterminationofwhetheranindividualmeetsMBEeligibilitycriteriaismadeonacase‐by‐casebasis.MDOThasacomprehensivecertificationprocesstodeterminetheownershipandcontroloffirmsthatapplyforMBEcertification.Thereareseveralspecificedibilitycriteriaforcertification.IndeterminingownershipofaMBEfirm,actualinvestmentbytheminorityownerisimportant.Controlincludesbothmanagerialandoperationalcontrolofthecompany.Technicalknowledgeofthefirm’smajorareasofworkisanimportantcomponentofassessingoperationalcontrol.CertificationisbasedontherequirementsprescribedfortheMBE,includingtheeligibilitycriteriasetforthabove.ApplicationsarereviewedbytheMBEIntakeUnittoconfirmthatallrequireddocumentshavebeensubmitted.MDOTisalsoresponsibleforadministratingtheU.S.DepartmentofTransportation’s(USDOT)DisadvantagedBusinessEnterprise(DBE)ProgramfortheStateofMaryland.TheDBEprogramprovidesavehicleforincreasingtheparticipationbycertifiedDBEfirmsinStateandlocalprocurementsthatarefundedwithassistancefromUSDOT.USDOTDBEregulationsrequireStateandlocaltransportationagenciestoestablishgoalsfortheparticipationofDBEfirmsonUSDOT‐assistedprocurements.InMaryland,onlythreeadministrationsparticipateintheDBEprogram:StateHighwayAdministration,MarylandAviationAdministrationandMarylandTransitAdministration.TheeligibilitycriteriaforDBEcertificationisverysimilartothatforMBEcertification.TobeeligibleforcertificationasaDBE,abusinessmustbeatleast51%ownedandcontrolledbyasociallyandeconomicallydisadvantagedindividual(s).BoththeMBEProgramandtheDBEProgramhavePersonalNetWorth(PNW)eligibilityrequirements.ToqualifyasanMBE,thePNWofeachsociallyandeconomicallydisadvantagedindividualwhoownsandcontrolsthefirm,asapartofthe51%ownership,mustnotexceed$1,500,000.Whenanindividual'sPNWexceedsthe$1,500,000threshold,theindividualisnolongereligibleto

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participateintheMBEProgram.ThePNWforeachsociallyandeconomicallydisadvantagedindividualwhoownsandcontrolsaDBEfirm,aspartofthe51%ownership,mustnotexceed$750,000.00.AdditionalinformationregardingtherequirementsandcertificationproceduresfortheMBE/DBEProgramsmaybefoundinTitle14,Subtitle3oftheStateFinanceandProcurementArticleoftheMarylandAnnotatedCode,Title21,Subtitle11,Chapter3oftheCodeofMarylandRegulations(COMAR),USDOTregulations49CFRParts23and26,andthemostcurrentMBE/DBEProgramManualissuedbyMDOT.MBEApplicationProcessApplicationsforMBE/DBEcertificationareavailableonlineat:http://www.mdot.state.md.us/MBE_Program/Application.htmlorbycallingtheMDOTOfficeofMBEdirectlyat410‐865‐1269or800‐544‐6056.ApplicationsarethenforwardedtotheCertificationUnitandassignedtoMBEOfficerswhoconductinterviewsatthefirms'officesandperformjobsitevisitsifpossible.Aspartofthecertificationprocess,applicantsmayberequiredtoappearbeforetheMBEAdvisoryCommittee(MBEAC)todiscusstheirbusinessesandtorespondtoquestions.AppearancesbeforetheMBEACareconductedduringpublicmeetings,whichmaybeobservedbyprospectiveapplicants.TheMBEACmakesrecommendationstotheMBEACChairperson,whothenissuesthecertificationdecision.Alistofdocumentsthatmustbesubmittedinsupportofacertificationapplication,islocatedattheMDOTwebsiteat:http://www.mdot.state.md.us/MBE_Program/DBE.html.AnneArundelCountyMinorityBusinessEnterpriseProgramTheOfficeofCentralServicesisresponsiblefortheoperationandmaintenanceoftheCounty'sMBEProgram.TheEnterpriseCommitteeofAnneArundel,anadhoccommitteeoverseestheimplementationandoperationoftheCountyMBEProgram.ItisthepolicyofAnneArundelCountytoassureallpersonsseekingtodobusinesswiththeCounty,equalopportunityandaccesstoparticipateintheprocurementofallcommoditiesandservices.TheMinority/SmallBusinessEnterpriseCoordinatorisanadvocatefor"equalbusinessopportunity"inprocurementandfunctionsonmanylevelsincluding,butnotlimitedto:ProvidingtechnicalassistancetowomenandminoritybusinessesRecordingstatisticsonW/MBEutilizationUpdatingtheCounty'sMinorityandWomen‐OwnedBusinessdirectoryProvidingleadershipanddirectiontotheCounty'sMinorityBusinessEnterpriseCommitteeAvailableContracts:Purchasing(non‐construction)‐ContractswiththeCountyforthepurchaseofgoodsandservices.ConstructionContracts(PublicWorks)‐Constructioncontractsthathaveabidamountof$50,000ormore.Thegoalforminoritybusinessesis10percentand2percentforwomenownedbusiness.BaltimoreCityMinorityBusinessEnterpriseProgramTheMinorityandWomen’sBusinessOpportunityOffice(MWBOO)isresponsibleforadministeringthecertificationofMBEsandWomen’sBusinessEnterprises

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(WBE)inBaltimoreCity.EligibilityCriteriaAMBEisabusinessthatisowned,operated,andcontrolledbyoneormoreminoritygroupmemberswhohaveatleast51%ownership,andislocatedintheBaltimoreCityMarketArea.Aminorityincludesmembersofthefollowinggroups:AfricanAmerican,HispanicAmerican,AsianAmerican,orNativeAmerican.AWBEisabusinessowned,operatedandcontrolledbyoneormorewomenwhohave51%ownership,andislocatedintheBaltimoreCityMarketArea.TheBaltimoreCityMarketAreameansthefollowinggeographicregionsofMaryland:AnneArundelCounty;CarrollCounty;BaltimoreCity;BaltimoreCounty;HarfordCounty;HowardCountyandQueenAnne'sCounty.InordertobeconsideredforcertificationbyMWBOO,applicantsmustmeetthefollowingcriteria:Independentlyownedandoperatedbusiness;Inoperation12monthsbeforeapplyingforcertification;Minorityorwomen‐ownedforatleast12monthsbeforeapplyingforcertification;andHaveanoperatingofficeintheBaltimoreCityMarketAreaPre‐qualificationvs.Certification:Pre‐qualificationandcertificationaredifferentprocesses.Pre‐qualificationistheprocessbywhichtheCity’sOfficeofBoardsandCommissions(the“Office”)determinestheworkcapacityofacontractor.Throughananalysisofacontractor'sbasicfinancialinformation,theOfficeassignsabasecapacityrating.Thepre‐qualificationandworkcapacityratingprovidetheCitysomeassurancesthatthecontractorhastheexperienceandresourcestoperformtherequirementsofacontract.Toobtainapre‐qualificationapplication,calltheOfficeofBoardsandCommissionsbyusingthenumberat(410)396‐6883.Certification,asnotedabove,istheprocessbywhichabusinessisdeterminedtobeaminority‐ownedorwoman‐ownedbusiness.MBEApplicationProcessFirm’swishingtoreceivecertificationasanMBEorWBEshoulddownloadaMBE/WBECertificationApplicationoranMBE/WBERe‐CertificationApplicationfromhttp://cityservices.baltimorecity.gov/MWBOO/.Thereisnoapplicationfee.BaltimoreCountyMinorityBusinessEnterpriseProgramTheMinorityBusinessEnterpriseOfficeprovidesinformationtominority,womenanddisabledownedbusinessesregardingprocurementopportunities,preparingofbusinessandmarketingplansandfinancialinformation.BaltimoreCountyGovernmentiscommittedtoprovidinggreateropportunitiesforparticipationbyminority,womenanddisabledownedbusinesses.ThefollowingBaltimoreCountyMWBEservicesareavailable:(1)MWBEDirectory/VendorCompliance,adirectoryofcertifiedminorityandwomenownedbusinessestouseonCountyprojects.(2)Technicalassistanceandindividualcounseling.(3)Participationinoutreachevents,procurementconferencesandtradeshowstofurtherexpandtheprogram’sinitiatives.(4)AnnualreportsontheMBE/WBEparticipationstatus.(5)ReportsontheeffectivenessoftheCounty’sMBE/WBEprocurementefforts.

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EligibilityCriteriaMinorityandwomenownedbusinessesthatwishtoparticipateinthePublicWorksMBEprogrammustbecertifiedasprovidedatoneofthefollowingwebsiteshttp://www.mdot.maryland.gov/MBE_Program/Application.htmlorhttp://cityservices.baltimorecity.gov/MWBOO/:Contractorswhowishtobidasgeneralcontractorsmustbepre‐qualifiedthroughBaltimoreCounty’sConstructionContractsAdministrationDivisionshouldvisitherehttp://www.baltimorecountymd.gov/Agencies/publicworks/contracts/pw_contracts_prequal.html:Architects,LandscapeArchitects,EngineersandLandSurveyorswhowishtobeconsideredforworkwithBaltimoreCountyshouldrefertotheProfessionalServicesSelectionforprequalificationinformation.HowardCountyMinorityBusinessEnterpriseProgramHowardCountyhasagoal‐orientedequalbusinessopportunityprogram.ForalistofcertifiedMBE,WBEorDBEfirms(Minority,Women'sorDisabledBusinessEnterprises)orspecificcapabilitiesseehttp://www.howardcountymd.gov/servicesbusiness_businessemployment.htm#anch24395.MontgomeryCountyMinorityBusinessOutreachProgramTheMontgomeryCountyDepartmentofEconomicDevelopmentconductsprograms,sponsorseventsandengagesinvariousotheractivitiestoreachminoritybusinesses.TheCountyhasreceivedseveralawardsforassistancetominorityfirms.MinorityBusinessEnterpriseisdefinedinaccordancewiththeChapter11B‐58oftheMontgomeryCountyCodeandundertheStateofMaryland'sprocurementlaw.Formoreinformationseehttp://www.montgomerycountymd.gov/dedtmpl.asp?url=/content/DED/mbo.asp.PrinceGeorge’sCountyMinorityBusinessEnterpriseProgramThegoalofthePrinceGeorge’sCountyMBEProgramistostructureCounty’sprocurementproceduresandactivitiestofacilitateandencouragetheawardofatleastthirtypercent(30%)ofthetotaldollarvalueawardedintheCounty,directlyorindirectly,toMBEs.TheCounty’sMBEProgramiscomprisedofthreemajorcomponents:MBEProcurementAssistance;BusinessDevelopment;andMBECertification.ThePrinceGeorge’sCountyMinorityBusinessDevelopmentDivision(MBDD),locatedwithintheOfficeofCentralServices,overseestheCounty’sMBEProgram.MBEcertificationisdesignedtoprovidemoreexposuretoyourfirmaswellastheabilitytobecomeasubcontractor.Certificationdoesnot,however,guaranteeworktoanyminorityfirm.AllbidsandRFPsarecompetitive.Tobesuccessful,afirmmustmarketitself,itspersonnelandservices,asanygoodbusinessmust.Since2003,theCountyhasawardedmorethan$40millionannuallytoCountyMBEs.EligibilityCriteriaOnlyfirmsthatareatleast51%ownedandcontrolledbyindividualswhoare:African‐American;Hispanic‐American;Asian‐American;orwomenqualifyundertheCounty’sMBEProgram.

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IfyourcompanyiscurrentlyanMBEcertifiedbyMDOTortheWashingtonMetropolitanAreaTransitAuthority(WMATA),theMBDDwillmakeadeterminationconcerningyoureligibilityasanMBEinPrinceGeorge'sCounty.MBEsarerequiredtocertifytotheMBDDonanannualbasis.[edit]ApplicationProcessToobtainMBEcertificationinPrinceGeorge’sCountyyoumust:a.CompleteaBidder’sListApplication,whichmaybeobtainedfromtheCountyonlineattheCounty’swebsite:http://www.co.pg.md.us;b.ObtainaMBEcertificationletterfromeitherMDOTortheWMATA;c.ContacttheMBDDandprovidethefollowingdocumentation:(1)AcopyoftheBidder’sListApplicationand(2)SubmitacopyofthecertificationletterfromeitherMDOTorWMATA.d.MBDDhasan“Interim”certificationtoallowfirmsthatarecertifiedinselectedjurisdictionstobeincludedintheCounty’sMBEProgramonasixmonthbasis.OtherLocalBusinessEnterpriseProgramsandResources1.AnnapolisMinorityandSmallBusinessEnterpriseDivision‐Visittheirwebsiteathttp://www.annapolis.gov/Government/Departments/Economic/SmallBusiness.aspx2.Small,LocalBusinessEnterprise("SLBE")andSmall,LocalandMinorityBusinessEnterprise("SLMBE")ProgramTheseprogramssupportsfirmslocatedinPrinceGeorge’sCountyandMontgomeryCounty,intheStateofMaryland,whoeithermaintaintheirprincipalplaceofbusinessinsuchcounties,orhaveasignificantemployeepresenceinsuchcounties.ASLMBEmustalsobeownedbyaminority.Formoreinformationseehttp://www.wsscwater.com/home/jsp/content/slmbe‐program.faces3.WashingtonDCMinorityBusinessDevelopmentCenterTheWashington,DCMinorityBusinessEnterpriseCenter(DCMBEC)isabusinessconsultingdevelopmentagencylocatedintheDistrictofColumbia.DCMBECworkstocounteracttheeconomicdisparityinperformancebetweenminorityandnonminoritycompanies,andworkswithminoritybusinessestoimprovetheirperformanceandprofitability.Formoreinformationseehttp://www.dcmbec.org/home.html.ThefollowingcriteriaareadministeredwhenevaluatingclientsforservicesthroughtheDCMBEC:•Firmmustbeatleast51%ownedbyanethnicminority(notgenderbased)•LocatedwithinWashingtonD.C.•Afor‐profitentitygeneration,orhavingthepotentialtogenerate,$500,000ormoreinannualrevenuesOPPORTUNITIESFORBUSINESSGROWTHLocalChambersofCommerceChambersofCommercegenerallyarelocalvoluntaryalliances,businessassociationsornon‐profitorganizationsprovidingnumerouspro‐businessservices,includingnetworking,information,marketing,advertising,advocacywithstateandcountygovernment,andgrowthresourcestobusinesses,governmentinstitutionsandotherorganizations,aswellasinterestedindividuals.Thefocusofactivitiesvariesfromchambertochamber.

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MarylandChambersofCommerce(MCC)TheMCCisastatewideallianceofbusinessesandorganizations.Itsmissionistomaximizeopportunitiesforitsmemberstogrowandprosper.TheMCCprovidesservicestosmallandgrowingbusinessthroughitsBusinessDevelopmentCouncil.TheCouncil’smissionistoassistsmall,medium‐sizeandminority‐ownedbusinessestogrowandprosper.Councilinitiativesinclude:(1)GrowingBusiness,CelebratingSuccess:Thisprocurementfairandsmallbusinessawardsluncheonisdesignedtomeettheneedsofsmallandminorityownedbusinesses.Theprocurementfairprovidestheopportunitytomeetface‐tofacewithprocurementagentswithMaryland'slargestcompanies.(2)SmallBusinessoftheYearAwardsProgram:Anawardsprogramdesignedtorecognizethededication,innovationandentrepreneurialspiritdisplayedbyMaryland'ssmallbusinesses.(3)NetworkingEvents:TheCouncilsponsorseventsthroughouttheyeartobringbusinesspeopletogethertoexchangeideas,buildastronglistofbusinesscontactsanddobusiness.(4)EducationalWorkshops:TheCouncilsponsorsworkshopsspecificallydesignedtoaddressthebusinessneedsofemployerswith200employeesorless.Formoreinformation,pleasevisittheMDchamberofcommerceathttp://www.mdchamber.orgOtherlocalChambersofCommerceAlleganyCountyChamberofCommerceformoreinformationpleasevisithttp://www.alleganycountychamber.com/BaltimoreCountyChamberofCommerceformoreinformationpleasevisithttp://www.baltcountycc.com/BaltimoreWashingtonCorridorChamberofCommerceformoreinformationpleasevisithttp://www.baltwashchamber.org/index.phpBerlinChamberofCommerceformoreinformationpleasevisithttp://www.berlinchamber.org/CalvertCountyChamberofCommercepleasevisitformoreinformationhttp://www.calvertchamber.org/CarolineCountyChamberofCommerce,Inc.formoreinformationpleasevisithttp://www.carolinechamber.org/CarrollCountyChamberofCommerceformoreinformationpleasevisithttp://www.carrollcountychamber.org/CecilCountyChamberofCommerceformoreinformationpleasevisithttp://www.cecilchamber.com/CharlesCountyChamberofCommerceformoreinformationpleasevisithttp://www.charlescountychamber.org/CrisfieldChamberofCommerceformoreinformationpleasevisithttp://www.crisfieldchamber.com/DorchesterChamberofCommerce,Inc.formoreinformationpleasevisithttp://www.dorchesterchamber.org/Essex‐MiddleRiver‐WhiteMarshChamberofCommerceformoreinformationpleasevisithttp://www.emrchamber.org/FrederickCountyChamberofCommerceformoreinformationpleasevisit

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http://www.frederickchamber.org/cwt/external/wcpages/index.aspxGaithersburg‐GermantownChamberofCommerceformoreinformationpleasevisithttp://www.ggchamber.org/GarrettCountyChamberofCommerceformoreinformationpleasevisithttp://www.garrettchamber.com/GreaterBaltimoreCommittee,Inc.formoreinformationpleasevisithttp://www.gbc.org/GreaterBethesda‐ChevyChaseChamberofCommerceformoreinformationpleasevisithttp://www.bccchamber.org/GreaterBowieChamberofCommerceformoreinformationpleasevisithttp://www.bowiechamber.org/GreaterCroftonChamberofCommerceformoreinformationpleasevisithttp://www.croftonchamber.com/GreaterOceanCity,Maryland,ChamberofCommerce,Inc.formoreinformationpleasevisithttp://www.oceancity.org/GreaterPrinceGeorge'sBusinessRoundtableformoreinformationpleasevisithttp://www.bizroundtable.org/GreaterSevernaParkChamberofCommerceformoreinformationpleasevisithttp://www.severnaparkchamber.com/GreaterSilverSpringChamberofCommerceformoreinformationpleasevisithttp://www.gsscc.org/GreaterWashingtonBoardofTradeformoreinformationpleasevisithttp://www.bot.org/HagerstownWashingtonCountyChamberofCommerceformoreinformationpleasevisithttp://www.hagerstown.org/HancockChamberofCommerceformoreinformationpleasevisithttp://www.hancockmd.com/HarfordCountyChamberofCommerceformoreinformationpleasevisithttp://www.harfordchamber.org/HavreDeGraceChamberofCommerceformoreinformationpleasevisithttp://www.hdgchamber.com/HowardCountyChamberofCommerceformoreinformationpleasevisithttp://www.howardchamber.com/KentCountyChamberofCommerceformoreinformationpleasevisithttp://www.kentchamber.org/home.aspxMarylandHispanicChamberofCommerceformoreinformationpleasevisithttp://mdhcc.org/Mid‐AtlanticHispanicChamberofCommerce,Inc.formoreinformationpleasevisithttp://www.mahcc.org/MontgomeryCountyChamberformoreinformationpleasevisithttp://www.montgomerycountychamber.com/TheNewBaltimoreCityChamberofCommerceformoreinformationpleasevisithttp://www.baltimorecitychamber.org/NorthernAnneArundelCountyChamberofCommerceformoreinformationpleasevisithttp://www.naaccc.com/OceanPinesAreaChamberofCommerceformoreinformationpleasevisit

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http://www.oceanpineschamber.org/OlneyChamberofCommerceformoreinformationpleasevisithttp://www.olneymd.org/PikesvilleChamberofCommerceformoreinformationpleasevisithttp://www.pikesvillechamber.org/PocomokeCityChamberofCommerceformoreinformationpleasevisithttps://www.pocomoke.com/Home_Page.htmlPrinceGeorge'sBlackChamberofCommerce,Inc.formoreinformationpleasevisithttp://www.pgblackchamber.org/PrinceGeorge'sChamberofCommerceformoreinformationpleasevisithttp://www.pgcoc.org/PrinceGeorge'sCountyHispanicChamberofCommerceformoreinformationpleasevisithttp://www.mahcc.org/QueenAnne'sCountyChamberofCommerceformoreinformationpleasevisithttp://www.qacchamber.com/SalisburyAreaChamberofCommerceformoreinformationpleasevisithttp://www.salisburyarea.com/SouthernAnneArundelChamberofCommerceformoreinformationpleasevisithttp://www.southcounty.org/St.Mary'sCountyChamberofCommerceformoreinformationpleasevisithttp://www.smcchamber.com/TalbotCountyChamberofCommerceformoreinformationpleasevisithttp://www.talbotchamber.org/TowsonChamberofCommerce,Inc.formoreinformationpleasevisithttp://www.towsonchamber.com/WestAnneArundelCountyChamberofCommerceformoreinformationpleasevisithttp://www.waaccc.org/cwt/external/wcpages/index.aspxWheaton&KensingtonChamberofCommerceformoreinformationpleasevisithttp://www.wkchamber.org/MarylandTechnologyDevelopmentCorporation(TEDCO)GeneralTEDCOisacorporationcreatedbytheMarylandStatelegislaturein1998,institutedas“apublicinstrumentalityoftheState”.ItsmainpurposeistofacilitatethecreationofbusinessesandfostertheirgrowthinallregionsoftheStatethroughthecommercializationoftechnology.TEDCOendeavorstobeMaryland'sleadingsourceoffundingfortechnologytransferanddevelopmentprogramsandentrepreneurialbusinessassistance.ProgramsFundingOpportunitiesi.JointTechnologyTransferInitiative(JTTI)TheMarylandTechnologyDevelopmentCorporation(TEDCO)hascontractedwiththeDepartmentofHomelandSecurity(DHS)andtheU.S.ArmyMedicalResearchandMaterielCommand(USAMRMC)tofacilitatetransferoftechnology.TechnologydevelopmentprojectswillbeconsideredwithinthescopeoftheJTTIifthecompanycanshowhowtheproposedtechnologywillmeettheneedsofDHSand/orUSAMRMC(Spin‐In)and/orthecommercializationofDHSorUSAMRMC

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technologies(Spin‐Out).FundingfortheJTTIisprovidedbyCongress.Highlights:•Maximumawardsof$75,000insupportoftechnologydevelopment•EmphasisisonthedevelopmentoftechnologiestomeettheneedsofboththeDHSandUSAMRMC•Opensubmission(nodeadline)•SixtydayreviewcycleForadditionalinformationcontact:RonaldKaeseDirector,FederalPrograms410‐715‐4170E‐mail:[email protected]:http://www.marylandtedco.org/publications/JTTI.cfm#ii.Johnson&JohnsonJointInvestmentProgramThejointTEDCO‐J&JseedstageinvestmentprogramisacomponentoftheMarylandTechnologyTransferFund(MTTF)‐‐aseedstagefundforcompaniesworkingwitheitheroneofthefederallaboratoriesoruniversitiesinthestateofMaryland.ThejointprogramprovidesJ&JwithvaluableinsightintothemostpromisingtechnologiesbeinglicensedtotheprivatesectorbytheuniversitiesandfederallabsinMaryland.ThefundingandsubsequentdevelopmentoftechnologyhasprovidedpipelineproductopportunitiesforJ&J.Inaddition,thefundinghasprovidedTEDCOportfoliocompanieswithvaluablecommercialinsight,andthefundinghashelpedbuildsustainablecompaniesthatmeetJ&Jsrequirementforeventualequityinvestmentthroughitsventurecapitalgroup(JJDC).FinallyitprovidesTEDCOportfoliocompaniesaconduitforlicensingofproductsandtechnologiestooneofJ&Jsoperatingcompanies.ProgramEligibilityCriteria:Therearethreetracksforcompaniestoapplytothejointprogram.CompaniesthatarenewtoTEDCOapplyunderTrack1.ApplicantsmustmeettheMTTFeligibilitycriteriaandneedonlyapplyforMTTFfundingwithabudgetuptotheMTTFawardlimit(currently$75,000).Johnson&JohnsonthroughCOSATparticipatesinreviewoftheMTTFproposalsunlesstheapplicantoptsoutofthejointreview.IftheMTTFreviewteamrecommendsfundingoftheseproposals,J&JhastherighttodesignateaspecificamountoffundingforMTTFawardeesfromitsdesignatedawardpool.J&Jmaycontributeupto50%ofafirstMTTFaward,withTEDCOmakingupthebalance.TEDCOportfoliocompaniescanapplyunderTrack2andTrack3.ApplicantsmusthavereceivedanawardunderoneofTEDCO’sexistingseedstagefundingprogramsandsuccessfullycompletedsuchaproject.ToapplyforfundingunderthejointTEDCO‐J&JprogramTrack2,aportfoliocompanysubmitsaconceptpapertodeterminewhetherthereisinterestbyCOSAT.ConceptpapersmaybesubmittedbyTEDCOportfoliocompaniesathttps://www.jnjcosat.com/tedco.aspx.UnderTrack3aportfoliocompanycanapplyforMTTFIIfundingafterreceiptofaninvitationfromaTEDCOreviewcommitteememberuptotheawardlimitof$75,000butanangelinvestormustprovideatleasta1:1matchoftheTEDCOfunds.Foradditionalinformation,pleasesee:http://www.marylandtedco.org/JJ.cfmiii.TechStartProgramTheTechStartProgramwillfunduniversity‐basedorfederallab‐basedteamstodeterminewhetherspecifictechnologieswouldhavethepotentialtobecommercializedthroughastartupcompany.AuniversityorentrepreneursubmitsaproposaltoTEDCOforevaluatingtheopportunity.Anawardwoulddefraycostsofevaluatingthefeasibilityofthestartupopportunity.Proposalsarecappedat

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$15,000pertechnology.EligibleApplicants:AlluniversitiesorentrepreneursworkingwithfederallaboratoriesintheStateareeligibleforTechStartfunding.Tobeeligible,auniversityorentrepreneurisrequiredtoassembleateamconsisting,ataminimum,ofthefollowing:•Anexperiencedentrepreneurwhocanprovidebusinessguidancefortheteamastheypursuetheduediligenceprocess.•Aninventororinventorteamwillingtoassistinevaluatingthefeasibilityofastartupandwillingtocollaboratewithastartup,ifoneisformed;and•Atechnologytransfermanager.Foradditionalinformation,pleasecontactLindaSaffer,ProgramManager,UniversityPrograms,410‐715‐[email protected]:http://www.marylandtedco.org/TechStart.cfmiv.UniversityTechnologyDevelopmentFund(UTDF)ThegoaloftheMarylandTechnologyDevelopmentCorporation's(TEDCO)UniversityTechnologyDevelopmentFund(UTDF)istoprovideresourcestoMarylanduniversitiestosupportpre‐commercialresearchonuniversityintellectualpropertytoincreasethelikelihoodofcommercializingthatintellectualproperty.TheprogramhelpsuniversitiestolicenseearlystagetechnologiesmoreeffectivelyandservesasasourceoftechnologydevelopmentprojectsforMarylandcompaniesthatareeligibleforadditionalTEDCOandotherStatefinancingprograms.EligibleInstitutions:AllinstitutionsofhighereducationinMarylandareeligibleforUTDFgrants.InstitutionsthatoperateofficesoftechnologytransferhavetheinfrastructuretoparticipateeffectivelyintheprogramandtomanageintellectualpropertydevelopedwithUTDFfunding.TEDCOcanassistotherinstitutionsinestablishingtechnologytransferinfrastructure.FormoreinformationonthisprogrampleasecontactLindaSaffer,Ph.D.,ProgramManager,UniversityPrograms,at410‐715‐[email protected],pleasesee:http://www.marylandtedco.org/tedcoprograms/utdf.cfmv.TheWorkingCapitalLoanFundTheWorkingCapitalLoanFundhasbeenestablishedbyTEDCOtoprovideloanstoearly‐stagetechnology‐orientedcompanieslocatedintheStateofMaryland.Lowinterestloansofbetween$15,000and$50,000areavailabletoqualifiedapplicantstobeusedforworkingcapitalinordertoassistacompanywithexpansion,marketentry,orproductlaunch.Companiesmustbebeyondtheresearchstageastheseloanscannotbeusedforresearchanddevelopment.TermsandFees:•Ratesareatorbelowmarketrate.•Anonrefundableapplicationfeeof$150isdueatthetimeofapplicationsubmittal.•Loantermisnormally3to5yearswithaminimumtermof6months.•PersonalguaranteesbyallprincipalsinthecompanysatisfactorytoTEDCOaswellasliensoncompanyassetsarerequired.•Companiesarerequiredtosubmitaletterofsupportfromalocaleconomicdevelopmentofficial,anSBDCrepresentative,anincubatormanager,oraprofessionalconsultant.•Anadministrativefeeof.5%isrequiredatthetimeofclosing.vi.MarylandTechnologyTransferandCommercializationFund(MTTCF)ThegoaloftheMTTCFistoprovidefundingforMarylandcompanieswhowishto

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developtechnology‐basedproductsand/orservicesincollaborationwiththeUniversitiesand/orFederalLaboratoriesinMaryland.Tobeeligiblefortheprogram,acompanymustbecollaboratingwithaFederalLaboratoryoruniversityinMarylandorbelocatedorbeanaffiliateofanincubatorcompanyinthestate.Inadditionthecompanyapplyingmustmeetthefollowingcriteria:fewerthan16employeesORthecompanyisauniversityspin‐offinbusinesslessthan5yearsANDPre‐revenueORventureinvestmentsunder$500K.Ifthecompanyisinanincubatororanaffiliate,contactyourincubatormanagernow.Additionally,companiesmusthavemorethan50%oftheiremployeespresentinthestateofMaryland.ProgramBenefits:•Fundsupto$75,000areavailabletodefrayacompany’sdirectcostofdevelopingearlystagetechnology.•Programmaybeusedtoperformearlystagefeasibilitytestingontechnology‐basedproducts/servicestoassistinobtainingfinancingforfurtherdevelopment.•Norepaymentisrequiredunlessanduntilthecompanyreceivesrevenuefromsales.•Repaymentiscappedat2Xtheoriginalawardattheendoffiveyears.Acompanycanrepayearlyatthemultiplecurrentfortheyearinwhichbuyoutoccurs.Foradditionalinformation,pleasecontactHenryAhn,410‐715‐4165,[email protected]:http://www.marylandtedco.org/tedcoprograms/mttf.cfmBusinessAssistancei.TheMarylandRuralBusinessInnovationInitiative(RBI2)TheRBI2isdesignedtoenhancecommercializationactivitiesandprovidetechnicalandbusinessassistancetosmalltechnology‐basedcompaniesintheruralareasofMaryland,asdefinedbytheRuralMarylandCouncil.AssistancetocompaniesisprovidedbytheMarylandTechnologyDevelopmentCorporation(TEDCO),throughtheirlocalRBI2representatives.EachregionhasalocalRBI2BusinessMentorwhosejobistoevaluatepotentialclients,andtoprovideresources,consultingservices,andtechnicalmanagementassistance.Activities:TheRBI2Initiativewillachieveitsgoalsthrough:Providinggeneralbusinessassistancein:TechnologycommercializationstrategyIntellectualpropertystrategyMarketchannelsFinancingoptionsBuildingamanagementteamSBIRandSTTRproposalwritingassistanceOrganizationalstructureHumanResourceissuesNewmarketopportunitiesProvidingtechnicalassistancein:PrototypedesignManufacturingAssistanceEnergyAssessmentsIdentifyingfundingopportunitiesIdentifyingcompaniesseekingtechnologiestocommercializeandfacilitate

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collaborationswithfederallaboratoriesanduniversitiesinMaryland.Formoreinformation,pleasesee:http://www.marylandtedco.org/tedcoprograms/rbi.cfmFederalLabOpportunitiesi.NASATechnologyOpportunitiesTEDCOcanhelpidentifyNASA‐sponsoredresearch,technology,technicalexpertiseandR&Dcapabilitiesthatmatchtheneedsandinterestsofyourbusiness.TEDCOassistsMarylandbusinessestoimprovetheircompetitivenessbyprovidingfreetechnicalassistanceandinformationtohelpresolvespecifictechnicalquestionsorneedsthatcanbeaddressedwithinalimitedamountoftime.Thisisroutinelydoneonaconfidentialbasis.Also,TEDCOfundingprogramscanhelpyoudevelopNASAtechnology.TEDCOprovidesMarylandcompanieswithinformationaboutthese“technologyopportunities”andhowtopursuethemwithinNASA.NASAisalsoseekingindustrialpartnerstopursuejointresearchanddevelopmentprojectsthathavepotentialapplicationtobothNASAmissionsandthecommercialmarket.TEDCOservesasapointofcontactforbusinessesseekinginformationaboutNASAtechnologies.TEDCOwillworkwithyoutounderstandyourspecificopportunity,question,orneed.Wewillthenprovideassistancethroughourownexpertise,theknowledgebaseofNASA,andotherpartnerswithintheTEDCOfamily.Afterprovidingtheassistance,wemaysendyouabriefevaluationsurveytodetermineyoursatisfactionandtheeconomicimpactofourassistance.Contact:RonaldKaese,410‐715‐[email protected]:http://www.marylandtedco.org/tedcoprograms/nasa.cfmBusinessIncubationTheIncubatorDevelopmentFundprogramprovidesfundingforcapitalexpendituresinthedevelopmentofnewandtherenovationofexistingtechnologyincubatorsinthestate.Todate,thenewfacilitiessupportedbythisfundincludetheETC@JohnsHopkinsEastern,theSilverSpringInnovationCenter,theRockvilleInnovationCenter,theFrederickInnovativeTechnologyCenter@Hood,theFrederickInnovativeTechnologyCenter@Monocacy,thetechcenter@UMBC,theTechnicalInnovationCenter,thePrinceGeorge’sCountyTechnologyAssistanceCenter,theUM‐BBioInnovationCenterandtheGermantownInnovationCenter.FundingResources:Toassistindeterminingwhetherornottostartorexpandanincubator,TEDCOofferstheFeasibilityStudyGrantprogram.Thisgrantprovidesfundingtoagovernment,government‐relatedoruniversity‐relatedorganizationtoengageanoutsideconsultanttoresearchandwriteafeasibilitystudy.Forfurtherinformation,[email protected]‐715‐4167.Website:http://www.marylandtedco.org/tedcoprograms/businessincubation.cfmTheGreaterBaltimoreTechnologyCouncilTheGreaterBaltimoreTechnologyCouncilfacilitatesbusinessnetworkinginBaltimoreandthesurroundingareas.Thisisaccomplishedthroughprogramsandeventsthatgivebusinessownerstheopportunitytomeetface‐to‐faceaswellastoaccessonlineinformationthroughFacebook,Twitter,LinkedIn,YouTube,Flickr,andblogs.http://www.gbtechcouncil.org/.

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MembershipTherearethreetypesofmembershipsavailable:technologymemberships,partnermemberships,andeducation/non‐profit/governmentmemberships.https://www.gbtechcouncil.org/Get‐Involved/Joining‐and‐Cost.aspxa.Technologymemberships.ATechnologyCompanyisdefinedasacompanythatgeneratesorintendstogenerateatleast50%ofitsrevenuesfromtheresearch,development,manufacturingorsaleoftechnologyproductsincludingsoftware,hardware,telecommunicationsandInternettechnology;orabiotechnologycompanythatgeneratesorintendstogenerateatleast50%ofitsrevenuesfromthedevelopmentorsaleofbiotechnologyproductsorbiotechnologyresearch.b.Partnermemberships.Partnermembersaredefinedascompaniesandorganizationsthatprovidesupportservicestothetechnologyindustry.Theseservices/organizationsinclude,butarenotlimitedto:accounting,financialinstitutions,benefits,employmentservices,legal,officeequipment/supplies,venturecapital,printers,realestate,hospitality,training,businessconsultants,andmarketing/publicrelations.Theannualinvestmentfortechnologymembersandforpartnermembersdependsonthecompany’snumberoffull‐timeemployeesintheStateofMaryland.Thejoiningcostsdependontheinvestmentlevel:https://www.gbtechcouncil.org/Get‐Involved/Joining‐and‐Cost.aspxc.Education,non‐profitorgovernmentmembership.Tojoinasaneducation,nonprofit,orgovernmentmember,yourorganizationmustbeeither:•Aneducationalinstitutionthatprovidesadegreeprogramorcontinuingeducationclassesincomputerscience,informationtechnology,Webdesign,telecommunications,orbiotechnology.•Anonprofitorganizationwhosemissionaffectsorisaffectedbytechnologyoreducation.•Astate,localorfederalgovernmentinstitutionthattakesaproactiveroleintechnologydevelopment;orservesasaproponentoftechnologygrowthintheGreaterBaltimoreregion.Amembershipapplicationcanbedownloadedhere:https://www.gbtechcouncil.org/Get‐Involved/Membership‐Application.aspxCostsTheannualinvestmentfortechnologymembersandforpartnermembersdependsonthecompany’snumberoffull‐timeemployeesintheStateofMaryland.Thejoiningcostsdependontheinvestmentlevel:https://www.gbtechcouncil.org/Get‐Involved/Joining‐and‐Cost.aspxAlleducation,nonprofit,andgovernmentmemberspayasetannualfeeof$800.ConnectWebsitecontacts:https://www.gbtechcouncil.org/Connect‐With‐Us/Contact‐Us.aspxFacebook:http://www.facebook.com/gbtechcouncilTwitter:http://twitter.com/gbtcFlickr:http://www.flickr.com/photos/gbtc/LinkedIn:http://www.linkedin.com/groups?gid=38393&sharedKey=7D0AAF04D73FYouTube:http://www.youtube.com/GBTechCouncilTechCouncilOfMarylandTheTechCouncilofMaryland(TCM)isMaryland'slargesttechnologytrade

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association,whichbringsitsmembersaccesstotechnologyindustryleadersinMaryland,DCandVirginia.TCMhastwodivisions,whichprovidevaluableresourcesandbenefitstohelpbusinessessucceed.MdTechservestheadvancedtechnologycommunityandMdBioservestheMarylandbiotechnologycommunity.http://techcouncilmd.com/TCMhelpstheregion'stechnologyorganizationsgrowthroughitsmembershipandactivitiessuchasnetworkingevents,costsavingprograms,andadvocacyinitiatives.TCM’smissionistopromotethetechnologyindustryandtocreateanenvironmentwheretechnologycompaniescancollaborate,growandsucceed.BenefitsCommitteesThatGetYouInvolved.TCMprovidesaforumthatpromotesleadership,innovation,collaborationandinformationsharingamongtechnologyprofessionalswithinthetechnologyindustry.ThisisafreebenefittoallemployeesinTCMmemberscompanies.PublicPolicy.TCMoffersitsmembersdirectaccesstothepoliticalprocesswithafull‐timeGovernmentRelationsstaffthatprovidesyourbusinesswithastrongvoicethatwillbeheardbypolicymakersatthestate,localandfederallevels.FacetoFaceNetworking.Reachover5,000attendeeseveryyearatmorethan40uniquenetworkingeventsthatprovidetightlyfocusedagendasthatallowyoutomakerealconnections.Marketwire.TCMmembersreceive15%discountonMarkettwires’sstandardpublishedratesforalldomesticdistributionoptions,10%onallinternationaldistributionoptions.CostSavingsPrograms.Savemoneybyparticipatinginoneormoreofourspecialprogramsdesignedformemberstopaylessonproductsandservicestheirbusinessneedstothriveinsuchacompetitivemarketplace.MemberDirectory.TCMpublishesanannualMemberDirectorythatprovidesconciseandcomprehensivelistingsofthecouncil'sover500membercompanies.SponsorshipOpportunities.TCMoffersmembersnumeroussponsorshiplevelsthataredesignedforanysizecompany.MakeconnectionsandbenoticedbythelargesttechaudienceintheindustryatanyofTCMevents.TechExchangeNewsletter.TheTechExchangeisaweeklyemailnewsletterofferingthelatestnewswithintheindustry,memberhighlightsandeventsattheTechCouncilofMaryland.TCM'sWebsiteoffersTCMmembersthelatestindustrynews,adirectoryofmorethan600industryprofessionals,andanup‐to‐the‐minuteeventcalendar‐http://www.techcouncilmd.com.MembershipTechCouncilofMaryland(TCM)membershipduesarebasedontotalemploymentforthecompanywithinMaryland,VirginiaandtheDistrictofColumbia.AllTCMmembershipsarecorporate;individualmembershipsarenotavailable.Onlineapplicationandmail‐inform:https://techcouncilmd.com/membership/join_tcm.phpContact:http://www.techcouncilmd.com/about_tcm/contact_us.phpSmallBusinessResourceCentersTheSmallBusinessResourceCenterprovidesawealthofinformationon‐siteabout

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manysubjectsthataffectsmallbusinesses,fromplanningandfinancingtomarketingandinsurance.TheCenterhasalargebusinesslibrary,plusPC‐basedinternetaccesstomagazinesandnewspapersnationwide,forresearchonavarietyofbusinesstopics.Therearevideosandcassettesaswellasliteratureandself‐helpguidescoveringavarietyoftopics,includinghowtostartyourownbusiness,preparingabusinessplan,gettingcredit,businesstaxesandregulatoryresponsibilities,andnetworking.Directions&Contact:http://www.sbrcbaltimore.com/html/general/contact.shtmlResourcesInadditiontotheMSBDCandtheBaltimoreDistrictOfficeoftheSBA,theCenterprovidesinformationandlinksto:SAFF‐StrategicAssistanceConsultingFund“thisnewinitiativeisdesignedtoprovideexpertprivate–sector‐consultingservicestosmall,minorityandmicroenterprisebusiness.BoothManagementConsulting,LLCwilladministerthestrategicAssistanceConsultingFundtobuilduponthebasicservicescurrentlyofferedthroughtheMarylandSmallBusinessDevelopmentCenter,(SBDC)networktoqualifyingclientsandprovidemoreadvancedandspecializedconsultingservices.”FormoreinformationaboutSAFFcall410.625.1297.SCORE‐CounselorsToAmerica’sSmallBusiness‐WhatisSCORE?Score,theServicesCorpsofRetiredExecutives,isa13,000‐membervolunteerassociationsponsoredbytheU.S.SmallBusinessAdministration.Since1964,theassociationhasmatchedvolunteerbusinessmanagementcounselorswithclientsinneedofexpertadvice.SCOREhasexpertsinvirtuallyeveryareaofbusinessmanagementandmaintainsanationalskillsrostertohelpidentifythebestcounselorforaparticularclient.Throughindepthcounselingandtraining,SCOREvolunteershelpprospectiveandestablishedsmallbusinessownersandmanagersidentifyproblems,determinethecauseandfindsolutions.TolocatetheScoreofficenearestyou,call(800)634‐0245.DEVCORP‐ConsultingCorporation‐TheCityofBaltimoreLocalContractorDevelopmentProgram(BLCDP)ismanagedbyDevCorpconsultingCorporation.DevCorpistheindustryleaderinachievingsmallcontractorparticipationinpublicandprivateconstructionprojects.Theprogramprovidessuretybondsandcontractfinancing,detailedtechnicalandbusinessassessmentsofparticipatingcontractors,contractorimprovementworkplansandroadmappingforcontractordevelopment.DevCorpcurrentlytargetsDepartmentofPublicWorks,DepartmentofRecreationandParks,DepartmentofHousingandCommunityDevelopmentandtheOfficeofTransportation.Visittheirwebsiteatwww.devcorp.com.EBMC&BEC‐EmpowerBaltimoreManagementCorporationandtheBusinessEmpowermentCenterisanon‐profitorganization.EBMCmovestowardthefourcoreareaofBaltimore’sstrategy:JobCreation,WorkforceDevelopment,ImprovingtheQualityofLifeandCommunityCapacityBuilding.TheBusinessEmpowermentCenter(BEC)thisofficeisstaffedwithexperiencedprofessionalfrombanking.EBMCwillassistyouinfindingtherightsiteforyourbusinessusingtheirowncomputermappingsystem,commercialrealtors,andtheBaltimoreDevelopmentCorporation.Forfurtherinformationvisitwww.empowerbaltimore.org.MOED‐TheMayor'sOfficeofEmploymentDevelopment‐helpsareabusinesses

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hirewell‐qualifiedworkersandupgradeandenhancetheiremployees'skills.EmployBaltimore,MOED'sbusinessservicesarm,canassistyourbusinesswithcustomizedworkforcesolutionsincludingoutreachandrecruitment,applicantprescreening,assessmentandtestingservices,taxcreditinformation,trainingassistanceprogramsandhumanresourcessupport.Formoreinformationorassistance,pleasecall410‐396‐3193orvisitwww.oedworks.com.MarylandSmallBusinessDevelopmentCenters(MDSBDCs)TheMDSBDCnetworkprovidesadvice,counselingandsupporttoentrepreneursandsmalltomid‐sizebusinessesacrossthestate.Thenetwork,apartnershipbetweentheU.S.SmallBusinessAdministrationandtheUniversityofMarylandCollegePark,linksprivateenterprise,government,highereducationandlocaleconomicdevelopmentorganizationstoprovidemanagement,trainingandtechnicalassistancetoMaryland’ssmallbusinesses.AspartofanationalSBDCNetwork,theMDSBDChasrapidaccesstoanumberofinformationresourcestodeliverassistancetosmallbusinesses.TheMDSBDCnetworkisdividedintosixregionsacrossthestate.Formoreinformation,pleasevisithttp://www.mdsbdc.umd.edu/.ManyeducationalreferencesareavailableinlocalMDSBDCresourcelibraries.MDSBDCclientsarefreetocomeinandbrowsematerialsanytimeduringregularofficehours,orusecomputerstodoonlineresearch.EachMDSBDClibrarycontainsbooks,journalsandelectronicmediaonavarietyoftopicsincluding:loans,franchising,startup,marketing,management,statisticaldata,Strategicplanning,businessplanning,andmore.Note:NotallMDSBDC'shavearesourcelibrary.TheMDSBDCoffersworkshopsandadditionalassistanceonpreparingtheapplicationforsubmissionforcertificationforvariousstateandfederalprograms,includingtheMinorityDisadvantaged8(a)certificationfortheSmallBusinessAdministration(SBA)programcreatedtohelpsmalldisadvantagedbusinessescompeteintheAmericaneconomyandaccessthefederalprocurementmarket,andtheMinorityBusinessEnterprise(MBE)certificationfortheMarylandDepartmentofTransportation(MDOT).WesternMaryland:servingGarrett,Allegany,Washington,andFrederickCountyformoreinformationpleasevisithttp://www.sbdc‐wmd.comCentralRegion:ServingBaltimore,BaltimoreCity,HowardandAnneArundelCountyformoreinformationpleasevisithttp://www.centralmdsbdc.orgNorthernRegion:ServingCarroll,Harford,andCecilCountyformoreinformationpleasevisithttp://www.harford.edu/sbdcCapitalRegion:ServingMontgomeryandPrinceGeorge'sCountyformoreinformationpleasevisithttp://www.capitalregionsbdc.umd.edu/SouthernRegion:ServingCharles,CalvertandSt.Mary'sCountyformoreinformationpleasevisithttp://www.sbdchelp.comEasternRegion:ServingKent,QueenAnne's,Caroline,Talbot,Dorchester,Wicomico,SomersetandWorcesterCounty,formoreinformationpleasevisithttp://www.salisbury.edu/sbdcCounselingTherearethefollowingtypesofcounselingavailable:(1)One‐on‐OneCounseling.One‐on‐onecounselingisofferedtoprospectiveand

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existingsmallbusinessowners.Manycounselorsareformerbankers,accountantsorbusinessownerswhoworkwithclientstoprovidepersonalizedandconfidentialcounselingatnocosttotheclient.Someoftheareasofconcentrationinclude:BusinessPlanDevelopment,BusinessStructuring,MarketPlanning,ResearchMarketDevelopment,FinancialAnalysis,Control,AccountingSystems,BusinessValuation,ManagementTechniques,DebtandEquityFundingOpportunities,CashFlowAnalysisandFinancialProjections,andManagementInformationSystemDevelopment.(2)GroupCounseling.Anumberofspecializedgroupcounselingsessionsareofferedtoassistclientsinaspecificareaofneed,allowingparticipantstobenefitfromtheexperiencesofotherswhileprovidingthemwiththeopportunitytonetworkandlearninanopen‐endedenvironment.Somespecialtygroupcounselingsessionsinclude:BusinessPlanWriting,Financing,PersonalReadiness,Procurement,andCreditRepair.(3)Procurement/ContractCounseling.TheMDSBDCprovidesspecializedprocurementcounselingservicesthroughitsProcurementTechnicalAssistanceProgram(PTAP).Thisprogram,fundedbytheDefenseLogisticsAgencyandMarylandDepartmentofBusinessandEconomicDevelopment,assistsclientstoidentify,obtain,andperformsuccessfullyonfederal,state,andlocalgovernmentcontracts.(4)HighTechnologyCounseling.Individualcounselingandsmallgroupworkshops,conductedbytrainedtechnologycounselors,areprovidedtoguideclientsthroughthepreparationofvarioustypesofplans.Themanagementassessmentsaredesignedtoimproveperformanceandsupportgrowthandtakingadvantageoffederalandstategovernmentsupportprograms.(5)Retail/RestaurantCounseling.Individualandsmallgroupcounselingisavailabletoassistclientswiththeuniqueaspectsofstarting,managing,andmaintainingaretailorrestaurantoperation,includingassessingfeasibility,assistingwithstorelayout,establishingandmaintaininggoodvendorrelationships,marketing,inventorymanagementandmore.TrainingVirtualClassroom.Acomprehensiveonlinetrainingprogramwhichisavailableatnocost.Thisprogramisdesignedtoprovideinformationandguidancetoentrepreneursinvariousstagesofgrowth.RegionalTraining.Trainingprogramsareofferedintheeveningforaminimalfeeandaretaughtbyskilledprofessionals.Sessionsrangeinlengthfromtwohourstoseveralweeks.ResourcesFinancingTheMDSBDCcanassistitsclientsinidentifyingandsecuringtheappropriatesourceoffundsforbusinessventures.Fundingsourcesinclude:a.SmallOfficeHomeOfficeLoan(SOHO)‐AnewmarketinginitiativeunderSBA'sCommunityExpressandSBAExpressloanguaranteeprograms.Thisinitiativecombinesfinancialandtechnicalassistancetoenablesmallandhome‐basedbusinessownerstoaccessbusinessloansinsteadofconsumerloans.Qualifiedbusinessescanobtainaslittleas$5,000withaliberalrepaymentpolicy,nocollateral,andtechnicalassistancethroughtheMDSBDC.

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b.Microloans‐Microloansaresmallerloans,madetoeligibleborrowersinamountsthatrangefrom$100toamaximumof$25,000.Thelendingcriteriaforamicroloanmaynotbeasstringentasthoseestablishedbycommerciallendingsources.Loanproceedscanbeusedforworkingcapital;equipment;furnitureandfixtures;inventory;andleaseholdimprovements.Theproceedscannotbeusedtorefinanceexistingdebts.c.CommercialBankLoans‐MDSBDCcanassistwithdeterminingtheappropriatelendingvehicleforaparticularventure,ensuringthatloanapplicationpackagesarecomplete,andinitiatingcommunicationswithlendersd.AccountsReceivableFinancing/Factoring‐Factoringisthesellingofacompany'saccountsreceivable,atadiscount,toafactoringagency,whichthenassumesthecreditriskoftheaccountdebtorsandreceivespaymentasthedebtorssettletheiraccounts.Factoringcanprovideaquickturnaroundandconvenientfundingtogrowingcompanieswhoneedcapitaltoexpandtheirbusiness.Factoringisnotaloan.Thereisnodebtrepayment,andlong‐termagreementsarenotnecessary.Fortheirservices,Factoringagentsarepaidafee,whichistypicallybasedonapercentageoftoaccountsreceivable.e.SBALoans(i)7(a)LoanProgram.The7(a)LoanGuarantyProgramisoneofSBA'sprimarylendingprograms.Itprovidesloanstosmallbusinessesunabletosecurefinancingonreasonabletermsthroughnormallendingchannels.Theprogramoperatesthroughprivate‐sectorlendersthatprovideloanswhichare,inturn,guaranteedbytheSBA‐‐theAgencyhasnofundsfordirectlendingorgrants.(ii)CommunityExpress.CommunityExpressisapilotSBAloanprogramthatwasdevelopedincollaborationwiththeNationalCommunityReinvestmentCoalition(NCRC)anditsmemberorganizations.Underthepilot,whichisavailabletoselectedlenders,anSBAExpress‐likeprogramwillbeofferedtopre‐designatedgeographicareasservingmostlyNewMarketssmallbusinesses.Theprogramwillalsoincludetechnicalandmanagementassistance,whichisdesignedtohelpincreasetheloanapplicant'schancesofsuccess.(iii)CAPLines.TheCAPLineistheumbrellaprogramunderwhichtheSBAhelpssmallbusinessesmeettheirshort‐termandcyclicalworking‐capitalneeds.ACAPLinesloancanbeforanydollaramount(exceptfortheSmallAsset‐BasedLinedescribedbelow).Therearefiveshort‐termworking‐capitalloanprogramsforsmallbusinessesundertheCAPLinesumbrella:(A)SEASONALLINE:Theseareadvancesagainstanticipatedinventoryandaccountsreceivablehelpduringpeakseasonswhenbusinessesexperienceseasonalsalesfluctuations.Canberevolvingornon‐revolving.(B)CONTRACTLINE:Financesthedirectlaborandmaterialcostassociatedwithperformingassignablecontract(s).Canberevolvingornon‐revolving.(C)BUILDERSLINE:Ifyouareasmallgeneralcontractororbuilderconstructingorrenovatingcommercialorresidentialbuildings,thiscanfinancedirectlabor‐andmaterialcosts.Thebuildingprojectservesasthecollateral,andloanscanberevolvingornon‐revolving.(D)STANDARDASSET‐BASEDLINE:Thisisanasset‐basedrevolvinglineofcreditforbusinessesunabletomeetcreditstandardsassociatedwithlong‐termcredit.It

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providesfinancingforcyclicalgrowth,recurringand/orshort‐termneeds.Repaymentcomesfromconvertingshort‐termassetsintocash,whichisremittedtothelender.Businessescontinuallydrawfromthislineofcredit,basedonexistingassets,andrepayastheircashcycledictates.Thislinegenerallyisusedbybusinessesthatprovidecredittootherbusinesses.Becausetheseloansrequirecontinualservicingandmonitoringofcollateral,additionalfeesmaybechargedbythelender.(D)SMALLASSET‐BASEDLINE:Thisisanasset‐basedrevolvinglineofcreditofupto$200,000.Itoperateslikeastandardasset‐basedlineexceptthatsomeofthestricterservicingrequirementsarewaived,providingthebusinesscanconsistentlyshowrepaymentabilityfromcashflowforthefullamount.(iv)LowDoc.TheSBALowDocisastreamlinedloanprogramwhichseekstoensureafasterturnaroundforbusinessesinneedoffinancing.Themaximumloanis$150,000,andcallsforaresponsefromtheSBAwithin36hoursofreceivingacompleteapplication(v)TheExportWorkingCapitalProgram(EWCP).TheSBA'sExportWorkingCapitalProgram(EWCP)supportsexportfinancingtosmallbusinesseswhenthatfinancingisnototherwiseavailableonreasonableterms.Theprogramencourageslenderstoofferexportworkingcapitalloansbyguaranteeingrepaymentofupto$1millionor90percentofaloanamount,whicheverisless.Aloancansupportasingletransactionormultiplesalesonarevolvingbasis.Designedtoprovideshort‐termworkingcapitaltoexporters,theEWCPisacombinedeffortoftheSBAandtheExport‐ImportBankoftheUnitedStates.Thetwoagencieshavejoinedtheirworkingcapitalprogramstoofferaunifiedapproachtothegovernment'ssupportofexportfinancing.TheEWCPusesaone‐pageapplicationformandstreamlineddocumentationwithturnaroundusually10daysorless.AletterofprequalificationisalsoavailablefromtheSBA.f.VentureCapital‐Venturecapitalorganizationscanhelpwithstartingorexpandingabusiness.Financingthroughaventurecapitalistisdifferentfromborrowingfromalenderbecause,insteadofearninginterest,theytakeanequitystake(partownership)inthebusiness,anditmightbesubstantial.Theadvantageofequityfinancingisthatthisinfusionofcapitaldoesnothavetoberepaidlikealoan.Theventurecapitalistearnsaprofitthroughdividendspaidtoshareholdersofthecompanyandthroughappreciationinthevalueofthestockofthecompany.Asaconditionofinvestingfundsinabusiness,venturecapitalistsoftenhavetherighttoreviewmanagementdecisionsand,insomecasesappointtheirownmanagerstooverseecertainaspectsofthebusiness.Whiletheentrepreneurtypicallyretainsday‐to‐daymanagementcontrolofthecompany,theventurecapitalisthassomecontroloverthestrategicdirectionofthebusiness.g.LoanPackaging‐TheMDSBDC'steamofloanconsultantsprovideslendingguidanceandloanpackagingservicesatlittleornocost.Thisspecificareaofconsultationincludesassistancewithfinancialprojections,thestatementofsourcesandusesoffunds,thebusinessplan,andthedeterminationofappropriatesourcesoffinancing.TheMDSBDCworkscloselywithareabanks;assistsviableclientswithbusinessplansandapplicationsprocess.WomenOnlyActivateProgram

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ActivateProgramTheActivateProgramisayearlongprogramsponsoredbyUMBCtotrainwomenwithsubstantialtechnicalorbusinessexperienceandtohelpcreatestart‐uptechnologycompaniesfrominventionsfromMarylandresearchinstitutionsandfederalagencies.TheProgramiscomprisedofthreephases.Thefirstphaseisdevelopedtoassistparticipantsinconductinganopportunityanalysiswherebytwopersonteamsareformedtoreviewandanalyzetheviabilityofpotentialbusinessopportunities.Thoseteamswiththebestpresentationtoareviewcommitteeoftheiropportunitywilladvancetothesecondphase.Thesecondphaseassiststheteamsincreatingadevelopedbusinessplan,alongwithadditionalteammemberstobepresentedtothereviewcommitteeforconsideration.Thefinalphaseistoassistthosefinalistswiththebestpresentationfromthesecondphaseandassistthemincommercializingandmarketingtheirbusinessplan.Toparticipatewomenwithbusinessortechnicalexperienceneedtoapplytotheclass.Formoreinformationontheprogram,pleasevisithttp://www.umbc.edu/activateNationalAssociationofWomenBusinessOwnersNationalAssociationofWomenBusinessOwners(“NAWBO”)isanationalorganizationwithseverallocalchaptersthatisintendedtoprovideadditionalresourcestoassistwomenbusinessownersinobtaininggreatereconomic,socialandpoliticalsuccess.NAWBOeventsincludebothgeneralnetworking,speakers’seriesandothereducationalseminars.Thereareannualconferences,onlinecommunitiesanddirectors,leadershipdevelopmentandothermembershipdiscountsandbenefits.Therearevariouslevelsofmembership;(i)At‐LargeMember(VotingMember)Businessandresidencearelocatedoutsideofalocalchapter’sorganizationterritory(45mileradius)(ii)Individual,partnerorstockholderwhoexercisesthepowertomakepolicydecisionsandisactivelyinvolvedintheday‐to‐daymanagementofthefirmFilesascheduleCorF,receivesIRSTaxForm1099fromclient(s),orfilescorporateorpartnershiptaxreturnsMaintainsanoffice(includinghomeoffices)orabusinessfacility(iii)EstablishedBusinessOwner(VotingMember)Ownsanequityinterestandactivelyparticipatesinabusinessasasoleproprietor,anactivepartnerofapartnershiporactivememberofalimitedliabilitycompany,anindependentcontractor,ora5%orgreatershareholderinacorporationFilesascheduleCorF,receivesIRSTaxForm1099fromclient(s),orfilescorporateorpartnershiptaxreturnsMaintainsanoffice(includinghomeoffices)orabusinessfacilityIsinvolvedinthepolicy‐makingprocessandoverallday‐to‐daymanagementofthebusinessHasbeenabusinessownerformorethantwo(2)yearsEmergingBusinessOwner(Non‐VotingMember)‐Afirsttimebusinessownerwithanewbusinesslessthantwo(2)yearsold,orwhohasnotyetstartedherbusiness(iv)SustainingMember(VotingMember)Ownsanequityinterestandactivelyparticipatesinabusinessasasoleproprietor,anactivepartnerofapartnershiporactivememberofalimitedliabilitycompany,anindependentcontractor,ora5%or

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greatershareholderinacorporationFilesascheduleCorF,receivesIRSTaxForm1099fromclient(s),orfilescorporateorpartnershiptaxreturnMaintainsanoffice(includinghomeoffices)orabusinessfacilityIsinvolvedinthepolicy‐makingprocessandoverallday‐to‐daymanagementofthebusinessHasbeenabusinessownerformorethantwo(2)yearsWishestosupporttheorganizationinalargermonetaryway(v)SupportingMember(Non‐VotingMember)Anon‐businessownerwhosubscribestotheobjectivesofNAWBOandwishtolendsupporttoNAWBOthroughmembership(vi)StudentMember(Non‐VotingMember)AnindividualwhoisregisteredfulltimeataschooloruniversitywhosubscribestotheobjectivesofNAWBOandintendstostartabusinessProofoffull‐timestudentstatusisrequiredMembershipDuesrangedependinguponthecategoryofmember,withlocalchapterduesfortheBaltimoreRegionof$90andnationalduesbetween$150and$350annually.Renewalsofmembershiparefrequentlydiscounted.FormoreinformationonthelocalBaltimoreRegionChapter,pleasecontact:NAWBOBaltimoreRegionalChapter2400BostonStreetSuite102Baltimore,MD21224Voice:410‐876‐0502Fax:410‐522‐5889L.ContentMcLaughlin,PresidentEmail:info@nawbobrc.orgBusinessSchoolsLoyolaCollegeinMarylandTheSellingerSchoolofBusinessandManagementBaltimore,Marylandhttp://www.loyola.edu/sellingerMorganStateUniversitySchoolofBusinessandManagementBaltimore,Marylandhttp://www.morgan.edu/School_of_Business_and_Management.htmlSalisburyUniversityPerdueSchoolofBusinessSalisbury,Marylandhttp://www.salisbury.edu/perdue/TowsonUniversityCollegeofBusinessandEconomicsTowson,Marylandhttp://wwwnew.towson.edu/cbe/UniversityofBaltimoreMerrickSchoolofBusinessBaltimore,Marylandhttp://www.ubalt.edu/template.cfm?page=1440UniversityofMarylandRobertH.SmithSchoolofBusinessCollegePark,Marylandhttp://www.rhsmith.umd.edu/JohnsHopkinsUniversityCareyBusinessSchoolBaltimore,Marylandhttp://carey.jhu.edu/SpeakerSeriesneedtocompleteTAXCREDITINCENTIVEPROGRAMSEnterpriseZonesMarylandDepartmentofBusinessandEconomicDevelopmenthasanenterprisezonetaxincentiveprogram.EligiblebusinessesthatlocateorexpandtheiroperationsindesignatedEnterpriseZonesorcreatenewjobsinEnterpriseZonesmayreceivevariousStateincomeorrealestatetaxcredits.Formoreinformationseehttp://www.choosemaryland.org/businessresources/pages/enterprisezones.aspx.Toqualify:(1)Thebusinessmustapplytothelocalzoneadministrationforcertification.(2)ThequalifiedemployeemusthavebeenhiredafterthebusinessislocatedintheEnterpriseZoneoraftertheEnterpriseZoneisdesignatedassuch;workforatleast

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35hoursperweekfor6months,earnatleast150%ofthefederalminimumwageand,spendatleast50%oftheworkdayeitherintheenterprisezoneoronactivitiesofthebusinessresultingfromitslocationintheenterprisezoneorfocusarea;ishiredafterthedatetheenterprisezonewascreatedorthedatethebusinessislocatedintheenterprisezoneorfocusarea,whicheverislater;andishiredtoanewposition.(3)Iftheemployeeiseconomicallydisadvantaged,thebusinessmustalsoobtaincertificationofeligibilityforthecreditfromtheMarylandDepartmentofLabor,LicensingandRegulation.Thetaxcreditsarebasedonthewagesduringthetaxyeartoeachqualifiedemployee.EmpowermentZones(federal)MarylandDepartmentofBusinessandEconomicDevelopmentDivisionofBusinessDevelopment,TaxIncentivesGrouphasanEmpowermentZonetaxincentive.AfederalEmpowermentZone,oneofonlysixinthenation,encompasses6.8squaremilesinthreeseparatelocationsofBaltimoreCity,twoofwhicharezonedforheavyindustrialuse.Formoreinformation,pleaseseehttp://www.hud.gov/offices/cpd/economicdevelopment/programs/rc/index.cfm.OneMarylandEconomicDevelopmentRealPropertyTaxCreditBusinessesthatestablishorexpandabusinessfacilityinapriorityfundingareaoraspartofaMarylandBoardofPublicWorksprojectsandarelocatedincertain“distressed”Marylandcounties,maybeentitledtotaxcreditsrelatedtoneworexpandedfacilities.Thecreditsmaybeappliedagainstcorporateincometax,personalincometaxorinsurancepremiumstax,butmaynotbeappliedtomorethanonetype.Formoreinformation,pleaseseehttp://business.marylandtaxes.com/taxinfo/taxcredit/onemd/default.asp.Eligibility.(1)BusinessesthatestablishorexpandabusinessfacilityinapriorityfundingareaoraspartofaprojectapprovedbytheBoardofPublicWorks,andthatarelocatedina"distressed"Marylandcounty,maybeentitledtoataxcreditforcostsrelatedtotheneworexpandedfacility.A“distressed”countyhas,forthemostrecent24‐monthperiod,anaveragerateofunemploymentthatis150percenthigherthanthestatewideaverageoranaverageper‐capitapersonalincomethatisequaltoorlessthan67percentofthestatewideaverage,andincludesacounty(includingBaltimoreCity)thatnolongermeetsoneoftheserequirements,butdidsoatsometimeduringthepreceding12‐months.(2)BusinessesarerequiredtonotifytheMarylandDepartmentofBusinessandEconomicDevelopmentofitsintenttoseekcertificationbeforeeithernewemployeesarehiredtofillqualifiednewpositionsoreligiblecostsareincurred.(3)Inordertoqualifythebusinessmustcreateatleast25positionsattheneworexpandedbusinessfacilityoveratwoyearperiodthatare:(a)Full‐time.(b)Ofindefiniteduration.(c)Paidatleast150percentofthefederalminimumwage.(d)LocatedinaqualifieddistressedcountyinMaryland.(e)Filled.(4)Toqualifyfortheprojecttaxcredit,thebusinessmustalsospendatleast

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$500,000inprojectcostsontheproject.Nominimumexpenditureisrequiredforthe"start‐up"taxcredit.ThebusinessmustalsosubmitacopyofthecertificationfromtheDepartmentofBusinessandEconomicDevelopmentwiththetaxreturn.JobCreationTaxCreditBusinessesthatexpandorestablishnewfacilitiesinMarylandthatresultsinthecreationofnewjobsmaybeentitledtoataxcreditbaseduponthenumberofpositionscreatedorthewagespaidtothenewemployees.Formoreinformation,pleaseseehttp://business.marylandtaxes.com/taxinfo/taxcredit/jobcreation/default.asp.Toqualifyforthecredit,businessesmustcreateatleast60newfull‐timepositions,andifthepositionsarehighlypaid,itmustcreateatleast30positions.Iftheneworexpandedfacilityislocatedinapriorityfundingarea,thenumberofnewpositionsthecompanymustcreateisreducedto25.Beforefillingthesenewpositions,thecompanymustnotifytheDepartmentofBusinessandEconomicDevelopmentofitsintentiontoseekcertification.Thenewpositionsmustbe:(1)Full‐time.(2)Permanent.(3)Paidatleast150percentofthefederalminimumwage.(4)LocatedinMaryland.(5)Filled.ResearchandDevelopmentTaxCreditsBusinessesthatincurqualifiedresearchanddevelopmentexpensesinMarylandareentitledtoacredit,butthetotalcreditsforallbusinessescannotexceed$6millionperyear,andisavailablefortaxyearsonorafterJanuary1,2008,butbeginningbeforeJanuary1,2011.Formoreinformation,pleaseseehttp://business.marylandtaxes.com/taxinfo/taxcredit/randd/default.asp.Thecreditmaybetakenagainstcorporateincometaxorpersonalincometaxes.Toqualify,thebusinessmustinvestinresearchanddevelopmentactivitiesinMarylandduringthetaxyearandapplyforthecreditwiththeMarylandDepartmentofBusinessandEconomicDevelopmentby15oftheyearfollowingthetaxyearinwhichtheexpenseswereincurred.TheMarylandDepartmentofBusinessandEconomicDevelopmentwillcertifytheamountofcreditavailabletothebusinessbyDecember15.Therearetwotypesofresearchanddevelopmenttaxcreditsavailabletobusinesses:(1)BasicResearchandDevelopmentCredit:3percentoftheMarylandqualifiedresearchanddevelopmentexpensespaidduringthetaxyear,uptotheMarylandbaseamount.(2)GrowthResearchandDevelopmentCredit:10percentoftheMarylandqualifiedresearchanddevelopmentexpensespaidduringtheyearthatexceedtheMarylandbaseamount.hebusinessmustfileanamendedincometaxreturn(Form500Xor502X)andsubmitacopyofthecertificationreceivedfromtheMarylandDepartmentofBusinessandEconomicDevelopmentwiththeamendedreturn.Additionalformswouldneedtobeattacheddependingonwhetherthecreditisbeingappliedtoward

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corporateorpersonaltaxes.BioHeatingOilTaxCreditBusinessesmayclaimacreditforeachgallonofheatingoilblendedwithbiodieselpurchasedforspaceorwaterheating.Foranytaxyear,thecreditallowedunderthissectionmaynotexceed$500,orthestateincometaxforthattaxyear.ThecreditisavailableforthetaxyearsbeginningonorafterJanuary1,2008,butbeforeJanuary1,2013.Formoreinformatoin,pleaseseehttp://energy.maryland.gov/residential/bioheatgrant.htmlandhttp://business.marylandtaxes.com/taxinfo/taxcredit/bioheatingoil/default.asp.Thecreditmaybetakenagainstcorporateincometaxorpersonalincometax.Thebusinessmustpurchase“Bio–heatingoil”withablendofatleast5percentbiodiesel.BusinessmustreceiveaninitialcreditcertificatefromtheMarylandEnergyAdministration(MEA)toclaimacreditagainstthestateincometaxforataxyearinanamountequaltothreecentsforeachgallonofbio–heatingoilpurchasedforspaceorwaterheating.Ifthecreditismorethanthetaxliability,theunusedcreditmaynotbecarriedforwardtoanyfuturetaxyears.BiotechnologyInvestmentIncentiveTaxCreditBusinessesmaybeallowedataxcreditagainstcorporateorpersonalincometaxofupto50percentoftheamountcontributedduringthetaxyeartoaqualifiedMarylandbiotechnologycompany.SoleProprietorships,corporationsandpassthroughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustsmayclaimthetaxcredit.Formoreinformation,pleaseseehttp://business.marylandtaxes.com/taxinfo/taxcredit/biotech.aspandhttp://www.choosemaryland.org/businessresources/pages/biotechnologyinvestmenttaxcredit.aspx.Qualifiedinvestorsmustcontributeatleast$25,000,incashorcash‐equivalent,toa“qualifiedbiotechnologycompany”thatiscertifiedbytheMarylandDepartmentofBusinessandEconomicDevelopmentbasedonanumberofcriteria.Qualifiedinvestorsmustalsoberequiredtofileanincometaxreturntoanyjurisdiction.Creditsmaybeclaimedfornomorethan$250,000perinvestmentinaqualifiedbiotechnologycompany.DBEDmaynotcertifytaxcreditsforinvestmentsinasinglequalifiedbiotechnologycompanythatareintheaggregatemorethan15percentofthetotalamountappropriatedtotheMarylandBiotechnologyInvestmentTaxCreditReserveFundforthatfiscalyear.DBEDmaynotissueinitialcreditcertificatesinexcessofthemountappropriatedtotheReserveFundforthatfiscalyearinthestatebudgetasapprovedbytheGeneralAssembly.Aqualifiedbiotechnologycompanymusthave:•ItsheadquartersandbaseofoperationsinMaryland;•Fewerthan50full‐timeemployees.•Nopubliclytradedsecurities;and•Beeninactivebusinessnolongerthan10yearsor12years,ifapprovedbyDBED.Aleast30daysbeforemakinganinvestment,thebusinessmustsubmitaninitialcreditcertificateapplicationtoDBED.Uponapproval(within30daysofDBED’sreceiptoftheapplication),theapplicantwillreceiveaninitialcreditcertificate

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statingtheamountofthetaxcreditandwillhave30daystomaketheinvestment.Withinthefollowing10days,theinvestormustnotifyDBEDthattheinvestmenthasbeenmade.Afinalcreditcertificatewillbeissuedtotheapplicantstatingtheamountofthetaxcredittowhichtheapplicantisentitled.Acopyofthefinalcreditcertificatemustbefiledwiththetaxpayer’sincometaxreturn.Thecreditallowedis50percentoftheamountcontributedduringthetaxyear,nottoexceed$500,000.Theamountinexcessofthestatetaxliabilitymayberefunded.ThetotalamountofcreditsapprovedbyDBEDeachyearislimited;initialcreditcertificateswillbeissuedonafirst‐come‐first‐servedbasis.Aportionofthiscreditmaybesubjecttorecaptureundercertaincircumstances.BusinessesthatCreateNewJobsCreditSoleproprietorships,corporationsandpass‐throughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustslocatedinMarylandthatcreatenewpositionsandestablishorexpandbusinessfacilitiesinthestatemaybeentitledtoataxcreditagainstcorporateincometax,personalincometaxorinsurancepremiumstax.Thecreditmaybeappliedtoonlyoneofthesetaxtypesinadditiontothepropertytax.Tobeeligibleforthetaxcredit,businessesmustfirsthavebeengrantedapropertytaxcreditbyalocalgovernmentofMarylandforcreatingthenewjobs.Formoreinformation,pleaseseehttp://business.marylandtaxes.com/taxinfo/taxcredit/newjob/default.asp.Thebusinessmustcreateatleast25newpositionsaspartoftheneworexpandedbusinessfacilityinMaryland(5,000squarefeetormore).Businesseslocatedinsmallercounties(populationof30,000orless)mustcreateatleasttennewpositions.AnenhancedcreditisinsteadavailableforbusinessesthatcreateorexpandanewbusinessfacilityinMarylandof250,000squarefeetormoreand:(1)Employ2,500employees(2)Create500newpositionsthatpayatleast150percentoftheminimumwageOR(3)Create1,250newpositionsthatarepaidatleast150percentoftheminimumwage.InMontgomeryCountyonly,abusinesscan:(1)Spendatleast$150milliontoobtainatleast700,000squarefeetofneworexpandedbusinesspremises(throughthepurchase,construction,orleaseofanewpremises);and(2)Employatleast1,100individualsincludingatleast500innewpositions.Allofthepositionsmustreceiveemployer‐providedsubsidizedhealthcarebenefits,bepaidatleast150percentoftheminimumwage,andbelocatedinorneighboringthenew,expandedorrenovatedpremises.Thenewpositionsmustbeallofthefollowing:(1)LocatedinMaryland.(2)PartoftheneworexpandedbusinessfacilityinMaryland.(3)Permanent.(4)Fulltimeofindefiniteduration(ForMontgomeryCounty(andWashingtonCountyfortaxyears2007andlater),thepositioncanbeacontractpositionofdefinitedurationlastingatleast12monthswithanunlimitedrenewaloption).(5)Filledforatleastoneyear.

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Thebusinessmustthenapplyto,andreceivecertificationfrom,thelocalgovernmentinwhichthefacilityislocatedforapropertytaxcredit.ThecountyorcitygovernmentwillnotifytheStateDepartmentofAssessmentsandTaxation(SDAT)thatthepropertytaxcredithasbeenapproved.SDATwillcalculateandcertifytheamountoftheallowabletaxcredittotheComptroller.Thecreditsarecalculatedasapercentageofthelocalpropertytaxliabilityontheneworexpandedportionofthefacility.Thosepercentagesareasfollows:(1)PropertyTaxCredit:•1stand2ndtaxableyears:52percent•3rdand4thtaxableyears:39percent•5thand6thtaxableyears:26percent•Remainingtaxableyears:0percent(2)Creditagainstthepersonalorcorporateincometax,ortheinsurancepremiumstax:•1stand2ndtaxableyears:28percent•3rdand4thtaxableyears:21percent•5thand6thtaxableyears:14percent•Remainingtaxableyears:0percentTheenhancedpropertytaxcreditisaflatpercentageof58.5percentforthelocalpropertytaxcreditand31.5percentforthestatetaxcreditineachofthefirst12taxyears.Ifthecreditismorethanthestatetaxliability,theunusedcreditmaybecarriedforwardforthenextfivetaxableyears.Withrespecttoclaimingthecreditagainstinsurancepremiumtaxes,documentationofthecreditmustbemaintainedbythetaxpayerintheirfilesandbemadeavailabletotheInsuranceCommissioner,onrequest,inaccordancewithCOMAR31.06.04.03.Thedocumentationshouldincludedocumentsfromtheagencygrantingthecredit,andalistofthenamesandtelephonenumbersforthetaxpayer'sstaffwhoaredirectlyinvolvedingrantingthecredits.Allinformationshallberetainedforaminimumofthreeyearsfromthedateofthefilingofthefinaltaxreturnonwhichthecreditistaken.CellulosicEthanolTechnologyResearchandDevelopmentTaxCreditSoleproprietorships,corporationsandpassthroughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstruststhatincurqualifiedresearchanddevelopmentexpensesforcellulosicethanoltechnologyinMarylandareentitledtoataxcredit.Thetotalcreditsforallbusinessesmaynotexceed$250,000peryear.ThiscreditisavailablefortaxyearsbeginningafterDecember31,2007,butbeforeJanuary1,2017.Thecreditmaybetakenagainstcorporateincometaxorpersonalincometax.ThebusinessmustinvestinresearchanddevelopmentactivitiesinMarylandrelatedto“CellulosicEthanolTechnology,”whichistechnologythatisusedtodevelopcellulosicbiomassforconversiontoethanolfuel.ThebusinessmustalsosubmitanapplicationforthecredittotheMarylandDepartmentofBusinessandEconomicDevelopment(DBED)bySeptember15ofthecalendaryearfollowingtheendofthetaxyearinwhichthequalifiedresearchand

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developmentexpenseswereincurred.DBEDcertifytheamountofcreditavailabletothebusinessbyDecember15.Theamountofthetaxcreditisequalto10percentofthequalifiedresearchanddevelopmentexpensespaidorincurredduringthetaxyear.DBEDmaynotapprovemorethan$250,000increditsforanycalendaryear.Iftheaggregateamountofcreditsappliedforexceeds$250,000,eachapplicantwillreceiveaproratedshareofthetotalcreditamount.Ifthecreditismorethanthestatetaxliability,theunusedcreditmaybecarriedforwardforthenext15years.Thebusinessmustfileanamendedincometaxreturn(Form500Xor502X)andsubmitacopyofthecertificationreceivedfromtheMarylandDepartmentofBusinessandEconomicDevelopmentwiththeamendedreturn.Additionalformswouldneedtobeattacheddependingonwhetherthecreditisbeingappliedtowardcorporateorpersonaltaxes.Formoreinformation,pleaseseehttp://www.choosemaryland.org/businessresources/Pages/CellulosicEthanol.aspxandhttp://business.marylandtaxes.com/taxinfo/taxcredit/cullulosicethanol/default.asp.CleanEnergyIncentiveTaxCreditBusinessesthatusecertainrenewableenergysourcesorwastematerialstoproduceelectricitythatissoldtoanunrelatedpersonmaybeentitledtoanincometaxcredit.Thefacilitymustbeplacedinservice,orco‐firingwithcoalmustbegin,onorafterJanuary1,2006,butbeforeJanuary1,2011.Soleproprietorships,corporationsandpass‐throughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustsmayclaimthetaxcredit.Thebusinessmustproduceelectricityduringthetaxyearusingprimarily"qualifiedenergyresources"(seeInternalRevenueCodeSection45)whichincludesanysolid,non‐hazardous,cellulosicwastematerialthatissegregatedfromotherwastematerialsandisderivedfromthefollowing:(1)Forest‐relatedresources,includingmillresidues(exceptsawdustandwoodshavings),forestthinnings,slash,orbrush,butexcludingold‐growthtimber.(2)Wastepallets,crates,dunnage,landscapeorright‐of‐waytrimmings.(3)Agriculturalsources(orchardtreecrops,vineyard,grain,legumes,sugar,andothercropby‐productsorresidues).“Qualifiedenergyresources”alsoincludesmethanegasorothercombustiblegasesresultingfromthedecompositionoforganicmaterialsfromanagriculturaloperationorfromalandfillorawastewatertreatmentplantusingeitheranaerobicorthermaldecomposition,oracombinationofboth.ThebusinessmustapplyforandreceiveaninitialcreditcertificatefromtheMarylandEnergyAdministration(MEA)beforeclaimingthiscredit.TheinitialcreditcertificatemuststatetheamountofelectricitythetaxpayerexpectstoproduceinaqualifiedMarylandfacilityoverthefive‐yearperiodspecifiedintheinitialcreditcertificate.Thetotalamountofthecreditstatedintheinitialcreditcertificatecannotexceed$2.5million.Thecreditis0.85centsforeachkilowatthourofelectricityproducedataMarylandfacilityusingqualifiedenergyresourcesduringthefive‐yearperiodafterthefacility

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isoriginallyplacedinservice.Ifthefacilityproduceselectricityfromqualifiedenergyresourcesco‐firedwithcoal,thecreditisreducedto0.5centsperkilowatthourofelectricityproducedduringthefive‐yearperiodbeginningonthedateoftheinitialco‐firing.Thecreditclaimedeachyearcannotexceedone‐fifthofthecreditamountstatedintheinitialcreditcertificate.Ifatleastanaverageof10percentofthemaximumcreditamountstatedontheinitialcreditcertificateisnotclaimedoverathree‐yearperiod,theMEAmaycancelaportionoftheamountstatedontheinitialcreditcertificate.Ifthecreditismorethanthestatetaxliability,theunusedcreditmaybecarriedforwardforthenexttentaxyears.TheMEAcannotissueaninitialcreditcertificateafterDecember31,2010,andthetotalofthemaximumcreditamountsoninitialcreditcertificatesissuedthroughthatdatecannotexceed$25million.AcopyoftheinitialcreditcertificateissuedbytheMEAmustbesubmittedwiththeincometaxreturn.Formoreinformation,pleaseseeRevenueAdministrationDivisionComptrollerofMarylandAnnapolis,MD21411‐0001Phone:410‐260‐7980fromCentralMaryland,1‐800‐MDTAXESfromelsewhereE‐mail:[email protected]:http://business.marylandtaxes.com/taxinfo/taxcredit/cleanenergy/default.aspChrisRiceMarylandEnergyAdministration60WestStreet,Suite60Annapolis,Md.21401Phone:410‐260‐76551‐800‐72ENERGYE‐mail:[email protected]:http://energy.maryland.gov/residential/cleanenergygrants.htmlCommuterTaxCreditMaryland‐basedbusinessesthatprovidecommuterbenefitsforemployeesmaybeentitledtoataxcreditforaportionoftheamountspaidduringthetaxableyear.Commuterbenefitsincludecertaincostsforanemployee'straveltoandfromhomeandtheworkplace,aGuaranteedRideHomeprogramoraparking"Cash‐Out"program.Thecreditmaybetakenagainstcorporateincometax,personalincometax,stateandlocaltaxeswithheld(fortax‐exemptorganizations)orinsurancepremiumstax.Thesamecreditmaynot,however,beappliedtomorethanonetaxtype.Thecompanymustpayaportionofthecostofanemployee'stravelbetweentheemployee'shomeandworkplace,includingthepurchaseoftransitinstruments(tickets,passes,vouchers,farecards,smartcardsandtokens).Inaddition,theworkplacemustbelocatedinMarylandandtravelmusttakeplaceineither:(1)AmasstransitvehiclesuchasanMTABus,MTACommuterBus,MTALightRail,MARCTrain,WMATAMetrobus,WMATAMetrorail,orotherqualifiedmasstransitsystem;or(2)Avan‐poolwhichcanseatatleasteightadults,isusedprimarily(80percentoftotalannualmileage)totransportindividualsbetweenhomeandtheworkplaceandisusedprimarily(80percentoftotalannualmileage)totransportatleastfouremployeespertrip.Inaddition,abusinessmayalsoqualifyforacreditforaportionofthecostpaidtoprovidetheiremployeesaGuaranteedRideHomeand/oraparking"Cash‐Out"program.Eachtaxyear,beforebusinessesfileforthenewCommuterTaxCreditagainstanyoftheapplicabletaxes,theymusthaveaCommuterTaxCreditregistrationformonfile

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withtheMarylandMassTransitAdministration.Theapplicationisavailableonlineathttp://www.commuterchoicemaryland.com.Thetaxcreditis50percentofthecostofprovidingthecommuterbenefitsuptoamaximumof$50permonth(basedona$100employercontribution)foreachemployee.Ifthecreditismorethanthestatetaxliability,theunusedcreditmaynotbecarriedforwardtoanyothertaxyear.BusinessesmustsubmittheMarylandCommuterTaxCreditregistrationformtotheMTA.DocumentationofthecreditforpurposesofreceivingacreditagainstinsurancepremiumstaxshallbemaintainedbythetaxpayerintheirfilesandbemadeavailabletotheInsuranceCommissioner,onrequest,inaccordancewithCOMAR31.06.04.03.Thedocumentationshouldincludedocumentsfromtheagencygrantingthecreditandalistofthenamesandtelephonenumbersforthetaxpayer'sstaffwhoaredirectlyinvolvedingrantingthecredits.Allinformationshallberetainedforaminimumofthreeyearsfromthedateofthefilingofthefinaltaxreturnonwhichthecreditistaken.Formoreinformation,pleaseseehttp://business.marylandtaxes.com/taxinfo/taxcredit/commuter/default.asp.CommunityInvestmentTaxCreditBusinessesthatcontributecashorgoodstoapprovedprojectsoperatedbytaxexemptorganizations(underInternalRevenueCodesection501(c)(3))areeligibleforataxcreditofupto$250,000.Thiscreditisinadditiontoanycharitablecontributiondeductionthatisallowedforthesecontributionsonboththestateandfederalincometaxreturns.Thecreditmaybetakenagainstcorporateincometax,personalincometax,insurancepremiumstaxorpublicservicecompanyfranchisetax.Thesamecreditmaynot,however,beappliedtomorethanonetaxtype.Soleproprietorships,corporationsandpass‐throughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustsmayclaimthetaxcredit.Beginningin2010,individuals,includingfiduciaries,whoarenotbusinessentitiesmayapplyforandreceiveataxcreditforcontributionstoapprovedprojects.Toqualifyforthecredit:Thebusinessmustdonateatleast$500inmoneyorgoodstoanapprovedprojectanddocumentthevalueofthecontribution.Thedocumentationmaybeeitherareceiptorcertificationofvalueofusedgoodsfromanindependentandunrelatedthirdparty.Thebusinessmustalsoattachacopyofthefullyexecutedcertificationtothetaxreturn.Howthecreditiscalculated:Thecreditis50percentofthevalueofthedonation.Eachbusinessmayclaimacreditofupto$250,000beginningwithtaxyearsonorafter1/1/2007.Thetotalcontributionseligibleforthetaxcreditsforallapprovedprojectsmaynotbemorethan$2millionperfiscalyear.Ifthecreditismorethanthetaxliability,theunusedcreditmaybecarriedforwardforthenextfivetaxyears.Documentationrequired:

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Corporateincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form500).Personalincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form502or505).Ifthebusinessisapass‐throughentity,Form500CRmustbepreparedforthepass‐throughentityandsubmittedwiththeentity'sincometaxreturn(Form510).AmodifiedfederalScheduleK‐1providedbythepass‐throughentitytoitsmembersmustseparatelystatetheirsharesofthecredit.IndividualsorentitiesmustattachthisstatementtotheForm500CRsubmittedwiththeirpersonal(Form502or505),corporate(Form500)orpass‐throughentity(Form510)incometaxreturns.Insurancepremiumstax:Thecontributorandthenon‐profitpartnermustcompletetheCertificationofContributionforTaxCreditandsubmitittotheMarylandDepartmentofHousingandCommunityDevelopmentalongwithacopyofthecheckordocumentationofthevalueofdonatedgoods.BusinessesclaimingthecreditagainstthistaxmustincludetheirNorthAmericanIndustryClassificationSystem(NAICS)numberinthespaceprovidedonthatform.Publicservicecompanyfranchisetax:FormAT3‐74mustbesubmittedwiththefranchisetaxreturn(SDATForms11or11T).Formoreinformation,contact:KarenM.ForbesAssistantDirector,CommunityAccessandPartnershipMarylandDepartmentofHousingandCommunityDevelopmentDivisionofNeighborhoodRevitalization10N.CalvertStreet,Suite444Baltimore,Md.21202Phone:410‐209‐5800E‐mail:[email protected]:http://www.neighborhoodrevitalization.orgEmployer‐ProvidedLong‐termCareInsuranceCreditEmployerswhoprovidelong‐termcareinsuranceaspartofanemployeebenefitpackagemayclaimacreditforcostsincurred.Thecreditmaybetakenagainstcorporateincometax,personalincometax,insurancepremiumstaxorpublicservicecompanyfranchisetax.Thesamecreditmaynot,however,beappliedtomorethanonetaxtype.Soleproprietorships,corporationsandpass‐throughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustsmayclaimthetaxcredit.Toqualifyforthecredit:Thecompanymustprovidelong‐termcareinsurancebenefitstooneormoreemployeesduringthetaxableyearaspartofanemployeebenefitpackage.Howthecreditiscalculated:Thecreditallowedis5percentofthecosts.Thetotalclaimedforataxableyearforallemployeesmaynotexceed$5,000,or$100peremployee,whicheverisless.Ifthecreditismorethanthetaxliability,theunusedcreditmaybecarriedforwardforthenextfivetaxyears.Documentationrequired:

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Corporateincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form500).Personalincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form502or505).Ifthebusinessisapass‐throughentity,Form500CRmustbepreparedforthepass‐throughentityandsubmittedwiththeentity'sincometaxreturn(Form510).AmodifiedfederalScheduleK‐1providedbythepass‐throughentitytoitsmembersmustseparatelystatetheirsharesofthecredit.IndividualsorentitiesmustattachthisstatementtotheForm500CRsubmittedwiththeirpersonal(Form502or505),corporate(Form500)orpass‐throughentity(Form510)incometaxreturn.Insurancepremiumstax:DocumentationofthecreditshallbemaintainedbythetaxpayerintheirfilesandbemadeavailabletotheInsuranceCommissioner,onrequest,inaccordancewithCOMAR31.06.04.03.Thedocumentationshouldincludedocumentsfromtheagencygrantingthecreditandalistofthenamesandtelephonenumbersforthetaxpayer'sstaffwhoaredirectlyinvolvedingrantingthecredits.Allinformationshallberetainedforaminimumofthreeyearsfromthedateofthefilingofthefinaltaxreturnonwhichthecreditistaken.Publicservicecompanyfranchisetax:FormAT3‐74mustbesubmittedwiththefranchisetaxreturn(SDATforms11or11T).Formoreinformation,contact:RevenueAdministrationDivisionComptrollerofMarylandAnnapolis,MD21411‐0001Phone:410‐260‐7980fromCentralMaryland,1‐800‐MDTAXESfromelsewhereE‐mail:[email protected]:http://business.marylandtaxes.com/taxinfo/taxcredit/longtermcare/default.aspor:StateDepartmentofAssessmentsandTaxation301W.PrestonStreetBaltimore,MD21201‐2395Phone:410‐767‐1191E‐mail:taxcredits@dat.state.md.usEmploymentOpportunityTaxCreditBusinessesthathireanindividualwhoisreceivingAidtoFamilieswithDependentChildren(AFDC)orFamilyInvestmentProgram(FIP)entitlementsmaybeentitledtoataxcreditforwagespaidtotheemployeeandforchildcareandtransportationexpensespaidonbehalfoftheemployee.ThecreditmaybeclaimedforindividualshiredbeforeJuly1,2009.Thecreditmaybetakenagainstcorporateincometax,personalincometax,stateandlocaltaxeswithheld(forcertaintax‐exemptorganizationsonly),insurancepremiumstaxorpublicservicecompanyfranchisetax.Thesamecreditmaynot,however,beappliedtomorethanonetaxtype.ThecompanymusthireatleastoneemployeethatreceivedAFDCorFIPpaymentsforanythreemonthsduringthe18‐monthperiodbeforeemploymentbythecompany.Theemployeecannotbecloselyrelatedtotheownersofthebusiness.CertificationmustbeobtainedfromtheDepartmentofLabor,LicensingandRegulationthattheindividualisaqualifiedemployee.

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Thecreditisallowedforthefirsttwoyearsofemploymentoftheindividualforboththewagespaidandthechildcareortransportationexpensespaidonbehalfoftheemployeeasfollows:(1)Firstyear(a)Wages:30percentofthefirst$6,000paidinthefirstyear(amaximumallowablecreditof$1,800).(b)Childcareortransportationexpenses:Upto$600ofexpensespaidinthefirstyear.(2)Secondyear(a)Wages:20percentofthefirst$6,000ofwagespaidinthesecondyear(amaximumallowablecreditof$1,200).(b)Childcareortransportationexpenses:Upto$500ofexpensespaidinthesecondyear.IftheemployeehasbeenarecipientofAFDCorTemporaryCashAssistanceforany18monthsduringthelast48monthsandisemployedbythebusinessforafullyear,thecreditincreasesto40percentofthefirst$10,000ofwagespaidtotheemployeeduringthefirstyearofemployment.Thecreditforchildcareortransportationexpensesmayalsobetakenforthefirstandsecondyearsasshownabove.Ifthecreditismorethanthestatetaxliability,theunusedcreditmaybecarriedforwardforthenextfivetaxyears.Formoreinformation,pleaseseehttp://www.dllr.state.md.us/employment/eotc.shtmlandhttp://business.marylandtaxes.com/taxinfo/taxcredit/employment/default.asp.GreenBuildingTaxCreditNOTE:ThisinformationreflectsMarylandlawregardingtheGreenBuildingsTaxCredit.However,allcreditshavebeenallocatedthroughthecurrentprogram'send.Unlesstheprogramisextendedorreceivesadditionalfunding,noadditionalcreditsmaybeauthorized.HeritageStructureRehabilitationTaxCreditAsofJune1,2010,theSustainableCommunitiesTaxCreditreplacestheHeritageStructureRehabilitationCredit.Acreditmaybeallowedforsubstantialexpendituresincurredina24‐monthperiodtorehabilitateacertifiedheritagestructurelocatedinMaryland.Thecreditisavailableforowner‐occupiedresidentialproperty,aswellasincome‐producingproperty.CreditsmaynotbeauthorizedafterJune30,2010.Thecreditmaybetakenagainstcorporateincome,personalincomeorinsurancepremiumtax.Soleproprietorships,corporations,tax‐exemptnonprofitorganizationsandpassthroughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustsmayclaimthetaxcredit.Toqualifyforthecredit:ThebusinessmustcompleteaheritagepreservationcertificationapplicationandsubmittheapplicationforapprovaltotheMarylandHistoricalTrust(MHT).AftercertificationbyMHT,theformisreturnedtoyou.Acopyofthecertifiedform(Part3)fromMHTmustaccompanyyourMarylandincometaxreturn.Howthecreditiscalculated:Thecreditis20percentofthetotalexpendituresincurredduringthe24monthrehabilitationperiod.Fortherehabilitationofcommercialstructures,thecredit

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cannotbemorethanthemaximumamountspecifiedundertheinitialcreditcertificate,whichisbasedonestimatedexpenditures.IftheapplicationwassubmittedtoMHTbeforeJune1,2002,thecreditbasedonactualexpenditurescanbeupto$250,000morethantheamountshownontheinitialcreditcertificate.Thecreditisclaimedintheyearinwhichtherehabilitationiscompleted;however,itcannotbeclaimeduntilthePart3certificationisapproved.ForpropertycertifiedbeforeJuly1,2001,abusinesscouldhavereceivedamortgagecreditcertificate.Inlieuoftakingthecredit,thecertificatemaybetransferredtothemortgageholderwhomaythentakeacreditagainsttheirincometaxinanamountequaltothefacevalueofthecertificate.ForcertificationsreceivedafterJune30,2001,theamountinexcessofthestatetaxliabilitycanberefunded.Creditsfortaxyears2002andlaterarelimitedto$3million.Fornon‐commercialproperties,thecreditis$50,000perpropertyforapplicationsreceivedbyMHTafterJune30,2004.TherehabilitationofastructurethatreceivedapprovalbytheMHTonorbeforeFebruary1,2001,issubjecttotheprovisionsofthelawineffectpriortothe2002legislativechanges.TheMHTwillnotacceptapplicationsfortheapprovalofplansforcommercialrehabilitationsifasubstantialpartoftheworkhasbeencompletediftheapplicanthasalreadysubmittedthreeormoreapplicationsforacombinedtotalofmorethan$500,000inthatyear.ThetotalamountofcreditsapprovedbyMHTforpropertieslocatedincertainareasofthestateduringeachfiscalyearissubjecttocertainlimitations.Apro‐ratedpercentageofthecreditissubjecttorecaptureifdisqualifyingworkisperformedduringafive‐yearperiod,beginningwiththeyearinwhichthecertifiedrehabilitationwascompleted.Documentationrequired:Corporateincometax:Form502Hmustbecompletedandsubmittedwiththeincometaxreturn(Form500)alongwiththeMHTcertification.Personalincometax:Form502Hmustbecompletedandsubmittedwiththeincometaxreturn(Form502or505)alongwiththeMHTcertification.Ifthebusinessisapass‐throughentity,Form502Hmustbepreparedforthepass‐throughentityandsubmittedwiththeentity'sincometaxreturn(Form510).AmodifiedfederalScheduleK‐1providedbythepass‐throughentitytomembersmustseparatelystatetheirsharesofthecredit.IndividualsorentitiesmustattachthisstatementtotheForm502Hsubmittedwiththeirpersonal(Form502or505),corporate(Form500)orpassthroughentity(Form510)incometaxreturns.Insurancepremiumstax:DocumentationofthecreditshallbemaintainedbythetaxpayerintheirfilesandbemadeavailabletotheInsuranceCommissioner,onrequest,inaccordancewithCOMAR31.06.04.03.Thedocumentationshouldincludedocumentsfromtheagencygrantingthecreditandalistofthenamesandtelephonenumbersforthetaxpayer'sstaffwhoaredirectlyinvolvedingrantingthecredits.Allinformationshallbe

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retainedforaminimumofthreeyearsfromthedateofthefilingofthefinaltaxreturnonwhichthecreditistaken.Formoreinformation,contact:CollinIngrahamMarylandHistoricalTrust100CommunityPlaceCrownsville,MD21032‐2023Phone:410‐514‐7628E‐mail:[email protected]:http://mht.maryland.gov/taxcredits_resources.htmlLong‐termEmploymentofEx‐FelonsTaxCreditBusinessesthatoperateinMarylandandhireoneormoreex‐felonsduringtheperiodfromJanuary1,2007,throughDecember31,2011,whoareemployedbythebusinessforatleastoneyear,maybeentitledtoacredit.Thecreditmaybetakenagainstcorporate,personalincometax,orstateandlocaltaxeswithheld(certaintaxexemptorganizationsonly).Thecreditmaynotbeappliedtomorethanonetaxtype.Soleproprietorships,corporations,pass‐throughentities(partnerships,subchapterScorporations,limitedliabilitycompanies,businesstrusts)andtax‐exempt,nonprofitorganizationsmayclaimthetaxcredit.Toqualifyforthecredit:Thecompanymusthireatleastoneex‐felonbetweenJanuary1,2007,andDecember31,2011,andemploythatpersonforaminimumofoneyear.ThecompanymustalsoobtaincertificationfromtheMarylandDepartmentofLabor,LicensingandRegulationthattheindividualisaqualifiedex‐felon.Howthecreditiscalculated:Forthefirstyear,thecreditis30percentofthefirst$6,000paidtoaqualifiedindividualwithamaximumcreditof$1,800.Inthesecondyear,thecreditis20percentofthefirst$6,000paidwithamaximumcreditof$1,200.Ifthecreditismorethanthestatetaxliability,theunusedcreditmaybecarriedforwardforthenextfivetaxyears.Atax‐exemptorganizationmayestimatetheamountofthetaxcreditforqualifyingemployeesforthetaxableyear.Thetotalamountoftheestimatedcreditshouldbedividedevenlyoverthenumberofperiodsforfilingwithholdingreturns(FormMW506).Forexample,ifquarterlyreturnsarerequired,thenthetotalestimatedcreditshouldbedividedbyfour.EachpaymenttotheComptrollerwouldbereducedbytheprorataamountofthecredit.Alternatively,thetax‐exemptorganizationcouldapplythecreditagainstthetaxonunrelatedbusinesstaxableincome.Documentationrequired:Corporateincometax:Form500CRmustbecompletedandsubmittedwithincometaxreturn(Form500)Personalincometax:Form500CRmustbecompletedandsubmittedwithincometaxreturn(Form502orForm505).Ifthebusinessisapass‐throughentity,Form500CRmustbepreparedforthepass‐throughentityandsubmittedwiththeentity'sincometaxreturn(Form510).AmodifiedfederalScheduleK‐1providedbythepass‐throughentitytoitsmembersmustseparatelystatetheirsharesofthecredit.IndividualsorentitiesmustattachthisstatementtotheForm500CRsubmittedwiththepersonal(Form502or505),corporate(Form500)orpass‐throughentity(Form510)

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incometaxreturns.Stateandlocalincometaxeswithheld:Form500CRmustbesubmittedwithFormMW508,MarylandAnnualEmployerWithholdingReconciliationReport.ThecreditcannotbeclaimedifeithertheEmploymentOpportunityTaxCreditortheMarylandDisabilityEmploymentTaxCreditisclaimedforthesameemployee.Formoreinformation,contact:DavidGheeMarylandDepartmentofLabor,LicensingandRegulationDivisionofEmploymentandTraining1100N.EutawStreetBaltimore,MD21201Phone:410‐767‐2080E‐mail:[email protected]://business.marylandtaxes.com/taxinfo/taxcredit/lteoef/default.aspMarylandDisabilityEmploymentTaxCreditBusinessesthathirepeoplewithdisabilitiesmaybeentitledtoataxcreditforwagespaidtotheemployeesandforchildcareortransportationexpensespaidonbehalfoftheemployees.Apersonwithadisabilityincludesaveteranreleasedfromthearmedforcesforaservice‐relateddisability.ThecreditmaybeclaimedforindividualshiredbeforeJuly1,2011.Thecreditmaybetakenagainstcorporateincometax,personalincometax,stateandlocaltaxeswithheld(forcertaintax‐exemptorganizationsonly),insurancepremiumstaxorpublicservicecompanyfranchisetax.Thesamecreditmaynot,however,beappliedtomorethanonetaxtype.Soleproprietorships,corporations,tax‐exemptnonprofitorganizationsandpassthroughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustsmayclaimthetaxcredit.Toqualifyforthecredit:ThecompanymusthireanindividualwithadisabilityandobtainadeterminationfromtheDivisionofRehabilitationServices(DORS)oftheMarylandStateDepartmentofEducation,ortheMarylandDepartmentofLabor,LicensingandRegulation(DLLR)foradisabledveteran,thattheindividualisaqualifiedemployeewithadisability.Howthecreditiscalculated:Thecreditisallowedforthefirsttwoyearsofemploymentofthedisabledindividualforboththewagespaidandthechildcareortransportationexpensespaidonbehalfoftheemployeeasfollows:FirstYearWages:30percentofthefirst$6,000paidinthefirstyearforamaximumallowablecreditof$1,800(20percentforemployeeshiredbeforeJuly1,2000).Childcareortransportationexpenses:Upto$600ofexpensespaidinthefirstyearSecondYearWages:20percentofthefirst$6,000ofwagespaidinthesecondyearforamaximumallowablecreditof$1,200.Childcareortransportationexpenses:Upto$500ofexpensespaidinthesecondyear.Ifthecreditismorethanthetaxliability,theunusedcreditmaybecarriedforwardforthenextfivetaxyears.ThecreditmaynotbeclaimediftheEmploymentOpportunityTaxCreditwasclaimedforthesameemployee.Atax‐exemptorganizationmayestimatetheamountofthetaxcreditforqualifying

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employeesforthetaxableyear.Thetotalamountoftheestimatedcreditshouldbedividedevenlyoverthenumberofperiodsforfilingwithholdingreturns(FormMW506).Forexample,ifquarterlyreturnsarerequired,thenthetotalestimatedcreditshouldbedividedbyfour.EachpaymenttotheComptrollerwouldbereducedbytheprorataamountofthecredit.Alternatively,thetax‐exemptorganizationcouldapplythecreditagainstthetaxonunrelatedbusinesstaxableincome.Documentationrequired:Corporateincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form500).Personalincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form502or505).Ifthebusinessisapass‐throughentity,Form500CRmustbepreparedforthepass‐throughentityandsubmittedwiththeentity'sincometaxreturn(Form510).AmodifiedfederalScheduleK‐1providedbythepass‐throughentitytoitsmembersmustseparatelystatetheirsharesofthecredit.IndividualsorentitiesmustattachthisstatementtotheForm500CRsubmittedwiththeirpersonal(Form502or505),corporate(Form500)orpass‐throughentity(Form510)incometaxreturns.Stateandlocalincometaxeswithheld:Form500CRmustbesubmittedwithFormMW508,theMarylandAnnualEmployerWithholdingReconciliationReport.Insurancepremiumstax:DocumentationofthecreditshallbemaintainedbythetaxpayerintheirfilesandbemadeavailabletotheInsuranceCommissioner,onrequest,inaccordancewithCOMAR31.06.04.03.Thedocumentationshouldincludedocumentsfromtheagencygrantingthecreditandalistofthenamesandtelephonenumbersforthetaxpayer'sstaffwhoaredirectlyinvolvedingrantingthecredits.Allinformationshallberetainedforaminimumofthreeyearsfromthedateofthefilingofthefinaltaxreturnonwhichthecreditistaken.Publicservicecompanyfranchisetax:FormAT3‐74mustbesubmittedwiththefranchisetaxreturn(SDATforms11or11T).Formoreinformation,contact:DavidGheeMarylandDepartmentofLabor,LicensingandRegulationDivisionofEmploymentandTraining1100N.EutawStreetBaltimore,MD21201Phone:410‐767‐2080E‐mail:[email protected]:MarylandStateDepartmentofEducationDivisionofRehabilitationServices2301ArgonneDriveBaltimore,MD21218Phone:1‐888‐554‐0334E‐mail:[email protected]://business.marylandtaxes.com/taxinfo/taxcredit/disability/default.aspandhttp://www.dllr.state.md.us/employment/mdetc.shtmlMaryland‐MinedCoalTaxCredit

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Aco‐generator,apublicservicecompany,oranelectricitysupplierthatpurchasescoalminedinMarylandonorbeforeDecember31,2020maybeeligibleforataxcredit.Thecreditmaybetakenagainstcorporateincometax,personalincometaxorpublicservicecompanyfranchisetax.Thesamecreditmaynot,however,beappliedtomorethanonetaxtype.Soleproprietorships,corporationsandpass‐throughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustsmayclaimthetaxcredit.Toqualifyforthecredit:ThebusinessmustpurchaseMaryland‐minedcoalduringthetaxyear.Totakethecreditagainsttheincometax,anapplicationmustbesubmittedtotheStateDepartmentofAssessmentsandTaxation(SDAT).AnelectricitysuppliermustnothavebeenanelectriccompanybeforeJuly1,1999,andbothco‐generatorsandelectricitysuppliersmustnotbesubjecttothepublicservicecompanyfranchisetax.ThetotalamountofcreditsapprovedbySDATforthetaxyears2007andlaterarelimited.Inaddition,$2,250,000ofthecreditsmustbereservedforMaryland‐minedcoalforuseinaMarylandfacility.Howthecreditiscalculated:Thecreditis$3pertonofMaryland‐minedcoalpurchasedduringthetaxyear,butcannotexceedthecreditamountapprovedbySDAT.Ifthecreditismorethanthetaxliability,theunusedcreditmaynotbecarriedforwardtofuturetaxableyears.Documentationrequired:Corporateincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form500).Personalincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form502or505).Ifthebusinessisapass‐throughentity,Form500CRmustbepreparedforthepass‐throughentityandsubmittedwiththeentity'sincometaxreturn(Form510).AmodifiedfederalScheduleK‐1providedbythepass‐throughentitytoitsmembersmustseparatelystatetheirsharesofthecredit.IndividualsandentitiesmustattachthisstatementtotheForm500CRsubmittedwiththeirpersonal(Form502or505),corporate(Form500)orpass‐throughentity(Form510)incometaxreturns.Publicservicecompanyfranchisetax:Computationandschedulemustbesubmittedwiththefranchisetaxreturn(SDATForm11).Formoreinformation,contact:RevenueAdministrationDivisionComptrollerofMarylandAnnapolis,MD21411‐0001Phone:410‐260‐7980fromCentralMaryland,1‐800‐MD‐TAXESfromelsewhereE‐mail:[email protected]:StateDepartmentofAssessmentsandTaxation301W.PrestonStreetBaltimore,MD21201‐2395Phone:410‐767‐1191E‐mail:[email protected]

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Pleaseseealso:http://business.marylandtaxes.com/taxinfo/taxcredit/coal/default.aspTelecommunicationsPropertyTaxCreditAtelecommunicationscompanythatisapublicutilityisallowedacreditforaportionofthetotalpropertytaxespaidbythecompanyonitsoperatingrealpropertyinMaryland,otherthanoperatingland,thatisusedinitstelecommunicationsbusiness.Thecreditmaybetakenonlyagainstcorporateincometax.Onlycorporationsmayclaimthetaxcredit.Toqualifyforthecredit:Thebusinessmustbeapublicutilitythatisatelecommunicationscompany.ThebusinessmustalsohavepaidpropertytaxesonitsoperatingrealpropertyinMaryland,otherthanoperatingland,thatisusedinitstelecommunicationsbusiness.Howthecreditiscalculated:Thecreditis60percentofthetotalstate,countyandmunicipalcorporationpropertytaxespaidbythepublicutilityduringthetaxableyearonitsoperatingrealpropertyusedinitstelecommunicationsbusiness,otherthanoperatingland.Thecreditcannotexceedthestateincometaxliabilityafterdeductingotherallowableincometaxcredits.Ifthecreditismorethanthetaxliability,theunusedcreditmaynotbecarriedforwardtoanyfuturetaxyears.Documentationrequired:Corporateincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form500).Formoreinformation,contact:RevenueAdministrationDivisionComptrollerofMarylandAnnapolis,MD21411‐0001Phone:410‐260‐7980fromCentralMaryland,1‐800‐MD‐TAXESfromelsewhereE‐mail:[email protected]:StateDepartmentofAssessmentsandTaxation301W.PrestonStreetBaltimore,MD21201‐2395Phone:410‐767‐1191E‐mail:taxcredits@datPleaseseealso:http://business.marylandtaxes.com/taxinfo/taxcredit/telecomm/default.asp.WaterQualityImprovementTaxCreditAcreditmaybeclaimedfortheadditionalcommercialfertilizercostsnecessarytoconvertagriculturalproductiontoacertifiednutrientmanagementplan.However,thiscreditcannotbeearnedforanytaxyearbeginningonorafterJanuary1,2009.ThecreditmaybetakenagainstcorporateincometaxorpersonalincometaxonlyforexpensesincurredbeforeJanuary1,2009.Soleproprietorships,corporationsandpass‐throughentities,suchaspartnerships,subchapterScorporations,limitedliabilitycompaniesandbusinesstrustsmayclaimthetaxcredit.Toqualifyforthecredit:Thebusinessmustsubmitanutrientmanagementplanandinformationrelatedto

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thepurchaseanduseofcommercialfertilizertotheMarylandDepartmentofAgriculture.ThebusinessmustreceivethefollowingcertificationsfromtheMarylandDepartmentofAgriculture:ThebusinesshassubmittedanutrientmanagementplanTheadditionalcommercialfertilizercostsarenecessarytocomplywithanutrientmanagementplan.Theamountofthetaxcreditthatthebusinessiseligibletoclaimforthetaxableyear.ThebusinessmustsubmitacopyofthecertificationfromtheMarylandDepartmentofAgriculturewithitsincometaxreturn.Howthecreditiscalculated:Thecreditallowed:Is50percentofthecertifiedadditionalcommercialfertilizercostsnecessarytoconvertagriculturalproductiontoanutrientmanagementplan.Maybeclaimedforuptothreeconsecutiveyears.Maynotexceed$4,500inanytaxyear.Ifthecreditismorethanthetaxliability,theunusedcreditmaybecarriedforwardforthenextfivetaxyears.Documentationrequired:Corporateincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form500).Personalincometax:Form500CRmustbecompletedandsubmittedwiththeincometaxreturn(Form502or505).Ifthebusinessisapass‐throughentity,Form500CRmustbepreparedforthepass‐throughentityandsubmittedwiththeentity'sincometaxreturn(Form510).AmodifiedfederalScheduleK‐1providedbythepass‐throughentitytoitsmembersmustseparatelystatetheirsharesofthecredit.IndividualsorentitiesmustattachthisstatementtotheForm500CRsubmittedwiththeirpersonal(Form502or505),corporate(Form500)orpass‐throughentity(Form510)incometaxreturns.Formoreinformation,contact:MarylandDepartmentofAgricultureOfficeofResourceConservationAnnapolis,MD21401Phone:410‐841‐5863E‐mail:[email protected]://business.marylandtaxes.com/taxinfo/taxcredit/waterquality/default.asp

TermsofUse/Disclaimer

GeneralUse–NoLegalAdviceTheMarylandEntrepreneur’sHandbook(hereafterthe“Handbook”)isforgeneralinformationalpurposesonlyandisnotintendedtobeandmaynotbeconsideredaslegaladviceonanyparticularmatter.Forspecificandcompletelegaladvice,pleaseconsultwithapracticing

attorneyknowledgeableaboutMarylandlawandfamiliarwiththerelevantdetailsofyoursituation.

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FirstContributions,AdministrationCertainmaterialsforthisHandbookwerefirstcontributedbyMarkASargent,formerdeanoftheUniversityofMarylandCareySchoolofLaw,andmembersofcommitteesof

theMarylandStateBarAssociationandtheBarAssociationofBaltimoreCityandthisHandbookisadministeredbymembersofthoseBarAssociationsandtheBusinessLawSocietyoftheUniversityofMarylandCareySchoolofLaw.ThisHandbookisadynamicresourcetowhichpersonneloffederal,state

andlocalagencies,aswellasothergovernmentalorprivateorganizationsandindividuals,contributefromtimetotime.Allinformation,opinions,andpositionsstatedinthisHandbookarethoseofvariouscontributorsanddonotnecessarilyreflectthoseoftheMarylandStateBarAssociation,theBar

AssociationofBaltimoreCity,theUniversityofMarylandCareySchoolofLaw,oritsBusinessLawSociety.

ExternalLinks‐NoEndorsementThroughouttheHandbookyoumaybeabletolinktootherwebsitesordocumentswhichmaynotbeunderthecontroloftheauthors,contributors,oradministratorsofthis

Handbook.Theinclusionofwebsiteordocumentlinksisforinformationalpurposesonlyanddoesnotimplyanyrecommendationorendorsementoftheviewsexpressedwithinthem.Itisthesoleresponsibilityofthereadertoinvestigateandevaluateanyandalloffers,services,products,statements,

information,andcontentofanylinkedpage.Neithertheauthors,contributors,oradministratorsofthisHandbook,northeMarylandStateBarAssociation,theBarAssociationofBaltimoreCity,theUniversityofMarylandCareySchoolofLaw,oritsBusinessLawSociety,shallhaveanyresponsibilityforanypop‐

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