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Industrial Park
In the real estate business, they say there are three important factors:
Location. Location. Location.
The Cheverly Industrial Park has all three...
This is where you want to locate your business.
The Enterprise Zone
The Town of Cheverly has secured enterprise zone status for the Cheverly Industrial Park.
Benefits of this designation:
- Increased MILA and MICRF loan caps
- Local Property Tax Credit
- 80% of improved assessed value for five years
- The credit decreases 10% per year for the next five years.
- The state reimburses the locality one-half of the credit.
- Income Tax Credit
- $500 for each full-time job created.
- $1000 if a new job is filled by an economically disadvantaged individual.
The Cheverly Industrial Park is also a "designated Neighborhood" and is eligible for the Maryland Neighborhood Business Development Fund's low-interest loans.
- What is the Cheverly industrial park's designation?
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The park is zoned I-1, light industrial. There are over 125 acceptable uses permitted under the county zoning ordinance. Wholesale, retail, trade, manufacturing, and service-oriented businesses are currently operating in the park.
- Who are some of the tenants in the Cheverly industrial park?
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The park is the current home of Pepsi-Cola, Griffith Consumers Oil, Rite-Way Corp., Nova Label, Auction Supply, American Bearing, and Mosaic.
- Why do these businesses enjoy being part of the Cheverly industrial park?
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In addition to its great location -- close to Washington, Baltimore, and Annapolis -- the park was developed to be aesthetically pleasing and secure. The well-maintained streets, lush green grass, mature trees, and well-designed buildings provide a beautiful setting in which to do business.