Washington County - Property Tax Credit - Economic Development Projects

HB 750 creates a property tax credit for businesses in Washington County that invest in new or expanded real property and create jobs. To qualify, existing businesses must add at least 1,500 square feet of space and create 5 new permanent full-time jobs within 12 months, while new businesses must add 2,500 square feet and create 25 jobs within 24 months. Alternatively, businesses can qualify by investing $20 million in capital improvements to create 200 new permanent full-time jobs. The bill directly affects commercial or industrial businesses operating in Washington County that meet these specific investment and job creation thresholds.