A new economic development initiative in Baltimore County aims to address the issue of office vacancies and support local businesses. County Executive Kathy Klausmeier recently unveiled the “Grant for Revitalizing Office Workspaces” (GROW) program under the Department of Economic and Workforce Development.
GROW is a strategic incentive program that provides financial assistance to businesses that are signing their first commercial lease in Baltimore County. The primary goal is to alleviate the financial burden associated with securing office space for entrepreneurs looking to establish or expand their operations within the county.
Klausmeier expressed confidence in Baltimore County’s economic landscape, emphasizing the importance of supporting new businesses to foster commercial growth and long-term success. She highlighted the program as an investment in the county’s economic vitality and a pathway for companies to thrive in the region.
Under the GROW program, eligible businesses can receive up to $80,000 in funding for their first commercial lease in Baltimore County. Specifically, businesses may qualify for a subsidy of $8 per square foot for a 36-month lease on Class A or B office space. The funds will be allocated on a first-come, first-served basis to eligible applicants.
Jonathan Sachs, the director of Baltimore County’s Department of Economic and Workforce Development, emphasized the dual purpose of the GROW program. He noted that the initiative is designed to attract new employers to the county while also supporting existing businesses in their expansion efforts. The ultimate aim is to create a conducive environment that facilitates business growth and achievement.
Program Details and Eligibility Requirements
Businesses interested in the GROW program must submit their applications within 180 days of signing a new direct lease for Class A or B office space in Baltimore County. Additionally, businesses with specialized needs for laboratory space may qualify for Class A or B flex space under the program. A minimum lease term of 36 months is mandatory, and applicants must ensure that the landlord is not a related entity.
To learn more about the GROW program and its application process, the county will host an information session on Wednesday, Feb. 26 at 10 a.m. The session will be held at 305 Washington Avenue, 5th Floor, Towson, MD, providing interested individuals with an opportunity to gain insights and ask questions about the program.
For additional information on GROW and other financial assistance programs offered by the Department of Economic and Workforce Development, interested parties can visit the department’s Financing Programs and Tax Credits for Business page or contact the department via email for further details and inquiries.
