PRINCE FREDERICK, Md. (Nov. 19, 2020) --- The Calvert County Board of County Commissioners (BOCC) announced today that 2J Enterprises, LLC has purchased a lot at Patuxent Business Park (PBP) in Lusby with plans to develop a 12,600-square-foot flexible office and light manufacturing facility.
Construction of the new facility is expected to begin in the second quarter of calendar year 2021 and will result in at least 15 new jobs for the county.
John Simpson, Jr., owner/partner of 2J Enterprises, LLC, said he is excited to get underway with this new project in Calvert County.
"We wanted to be at Patuxent Business Park because there is great demand from small and expanding businesses to locate here and I knew the market and timing was right for this investment," Simpson said.
Simpson already has two tenants interested in occupying several of the suites upon completion.
"This is great news for our local economy; this project will bring new investment, new jobs and new attention to Calvert County," said BOCC President Kelly McConkey.
County Administrator Mark Willis added, "This is a great win for our county. We appreciate the help provided by staff at the Maryland Department of Commerce and the Maryland Economic Development Corporation for their partnership and assistance in helping us close this deal in a timely manner."
"We are thrilled to welcome such an important new investment to Patuxent Business Park," said Kelly Robertson-Slagle, director of Economic Development for Calvert County. "We've always felt that a building with flexible fit-out options would be in high demand in this location and we're pleased Mr. Simpson is making it happen."
PBP is a 92-acre business campus designed to accommodate a variety of uses including Class A office and flex space. The park was created in 2002 through a partnership with the Maryland Department of Commerce, the Maryland Economic Development Corporation (MEDCO) and the Calvert County Board of County Commissioners.
PBP is located in a federal Opportunity Zone and offers a number of additional incentives for businesses seeking to purchase land and build. Recently, the Maryland Department of Housing and Community Development created a micro-grant program through the Neighborhood Business Works program that offers up to $50,000 in grant funding to early stage or expanding businesses that locate within an Opportunity Zone (applications accepted beginning Nov. 17, 2020, on a first-come, first-served basis; visit http://www.dhcd.maryland.gov/Business for details).
PBP is also a Calvert County Commerce Zone, a designation that extends tax credits to qualifying new and expanding businesses. The PBP Commerce Zone real property tax credit is calculated on the value of the qualifying new construction. To qualify, businesses are required to construct new premises or expand existing premises. The real property tax credit is 50% in years one through five, 25% for years six and seven, and 15% for years eight through 10 before expiring.
For more information on Patuxent Business Park, visit http://www.PatuxentBusinessPark.com or call the Department of Economic Development at 410-535-4583.
Construction of the new facility is expected to begin in the second quarter of calendar year 2021 and will result in at least 15 new jobs for the county.
John Simpson, Jr., owner/partner of 2J Enterprises, LLC, said he is excited to get underway with this new project in Calvert County.
"We wanted to be at Patuxent Business Park because there is great demand from small and expanding businesses to locate here and I knew the market and timing was right for this investment," Simpson said.
Simpson already has two tenants interested in occupying several of the suites upon completion.
"This is great news for our local economy; this project will bring new investment, new jobs and new attention to Calvert County," said BOCC President Kelly McConkey.
County Administrator Mark Willis added, "This is a great win for our county. We appreciate the help provided by staff at the Maryland Department of Commerce and the Maryland Economic Development Corporation for their partnership and assistance in helping us close this deal in a timely manner."
"We are thrilled to welcome such an important new investment to Patuxent Business Park," said Kelly Robertson-Slagle, director of Economic Development for Calvert County. "We've always felt that a building with flexible fit-out options would be in high demand in this location and we're pleased Mr. Simpson is making it happen."
PBP is a 92-acre business campus designed to accommodate a variety of uses including Class A office and flex space. The park was created in 2002 through a partnership with the Maryland Department of Commerce, the Maryland Economic Development Corporation (MEDCO) and the Calvert County Board of County Commissioners.
PBP is located in a federal Opportunity Zone and offers a number of additional incentives for businesses seeking to purchase land and build. Recently, the Maryland Department of Housing and Community Development created a micro-grant program through the Neighborhood Business Works program that offers up to $50,000 in grant funding to early stage or expanding businesses that locate within an Opportunity Zone (applications accepted beginning Nov. 17, 2020, on a first-come, first-served basis; visit http://www.dhcd.maryland.gov/Business for details).
PBP is also a Calvert County Commerce Zone, a designation that extends tax credits to qualifying new and expanding businesses. The PBP Commerce Zone real property tax credit is calculated on the value of the qualifying new construction. To qualify, businesses are required to construct new premises or expand existing premises. The real property tax credit is 50% in years one through five, 25% for years six and seven, and 15% for years eight through 10 before expiring.
For more information on Patuxent Business Park, visit http://www.PatuxentBusinessPark.com or call the Department of Economic Development at 410-535-4583.