LEONARDTOWN, Md. – After their September 27 meeting, the St. Mary’s County Commissioners approved a tax credit to J.F. Taylor for expanding their employment significantly with a massive new building off Great Mills Road.
The project, which has been in the works for six years, includes approximately 54,000 square feet of high-bay fabrication space, 10,000 square feet of mezzanine space, and approximately 28,000 square feet of office space.
The building is expected to house somewhere between 55 to 80 new jobs over the next three years.
According to a memo from the St. Mary’s County Department of Economic Development, “the building will be 100% occupied by J.F. Taylor and will house integrated teams of engineers, drafters, technicians, managers, and support personnel. The total investment in the new facility, which will be equipped with state-of-the-art design tools and manufacturing equipment, is over $10 million.”
The memo continues by saying that the department recommends the commissioners approve a property tax credit of $10,000 for ten years and a 50% reduction in property taxes on the building for 10 years.
The incentive, approved by the Maryland General Assembly several years ago, is designed to help St. Mary’s County attract and retain businesses in the county’s targeted expanding industries.
Several of these industries include defense, cyber security, aerospace, unmanned and autonomous systems, manufacturing, technology, and agriculture.
In their application for the tax credit, J.F. Taylor said, “the cost to build a new facility of this size and with these capabilities is significant and a huge risk for a small, privately held company. This incentive helps to offset some of the up-front expenses that our company faces as a result of building such a facility and makes our expansion in St. Mary’s County feasible.”
The planned expansion, according to their application, is for “products-based work,” which will allow them to overcome space constraints that they have faced at other locations. They specifically cited their ability to expand into the aerospace arena with such a large facility.
J.F. Taylor currently employs approximately 480 employees, almost all of which are located in St. Mary’s County. They specialize in avionics systems, flight testing, simulation training devices, and unmanned systems.
“You’ve done a great job in the community,” Commissioner Todd Morgan[R] said during the meeting. “The building is beautiful.”
The tax incentive was passed by the board with a unanimous vote.
Contact our news desk at firstname.lastname@example.org