(June 16, 2016) Though one of the smaller districts in the state in terms of employment and monetary benefits in terms of wages and revenue, Snow Hill’s Arts and Entertainment District designation was extended for another decade at the end of May.
“With this redesignation, the Snow Hill Arts and Entertainment District can continue to offer tax incentives to developers and artists within the district boundaries and the abatement of the admissions and amusement tax for the entire designation period of 10 years,” a letter signed by Department of Housing and Community Development Secretary Michael Gill reads.
The district does not cover the entire town, but goes as far west as Cypress Lane, and as far east as Burroughs Lane. To the north, the district is bordered by River Road and continues as far south as West Federal Street — though not all properties on West Federal are within the district.
The designation carries several benefits, including tax credits for new construction or renovations that create live-in work spaces for artists, or space for arts or entertainment businesses, an income tax subtraction for income derived from art sold by qualifying artists and an admissions and amusement tax exemption within the district.
“We’re just tickled we got the redesignation,” Michael Day, economic development consultant for the town said. “We’re attending a conference on June 20 in Baltimore, and when we return from that we’re going to do some restructuring in terms of how we manage the district.”
According to a Maryland Arts and Entertainment Districts Impact Analysis for fiscal 2014, the most recent data available, conducted by the Regional Economic Studies Institute of Towson University, Snow Hill’s district is one of the least productive on the shore.
For example, Snow Hill’s district supported a total of 18 jobs, while Berlin’s supported almost 200, and Salisbury supported about 255. Snow Hill edged out Bromo Tower, which had 14, and Stevensville’s six, though Stevensville only received its designation in 2014.
In terms of direct impact, the RESI study concludes Snow Hill saw a total GDP impact of about $70,000 from the district, compared to Berlin’s $4.6 million and Salisbury’s $11 million. Snow Hill edged out Havre De Grace’s $67,000 and Denton’s zero showing.
The report concluded the arts and entertainment districts were a net positive in the state, generating almost $7.9 million in tax revenue and supporting a total of about 6,000 jobs.
“With this redesignation, the Snow Hill Arts and Entertainment District can continue to offer tax incentives to developers and artists within the district boundaries and the abatement of the admissions and amusement tax for the entire designation period of 10 years,” a letter signed by Department of Housing and Community Development Secretary Michael Gill reads.
The district does not cover the entire town, but goes as far west as Cypress Lane, and as far east as Burroughs Lane. To the north, the district is bordered by River Road and continues as far south as West Federal Street — though not all properties on West Federal are within the district.
The designation carries several benefits, including tax credits for new construction or renovations that create live-in work spaces for artists, or space for arts or entertainment businesses, an income tax subtraction for income derived from art sold by qualifying artists and an admissions and amusement tax exemption within the district.
“We’re just tickled we got the redesignation,” Michael Day, economic development consultant for the town said. “We’re attending a conference on June 20 in Baltimore, and when we return from that we’re going to do some restructuring in terms of how we manage the district.”
According to a Maryland Arts and Entertainment Districts Impact Analysis for fiscal 2014, the most recent data available, conducted by the Regional Economic Studies Institute of Towson University, Snow Hill’s district is one of the least productive on the shore.
For example, Snow Hill’s district supported a total of 18 jobs, while Berlin’s supported almost 200, and Salisbury supported about 255. Snow Hill edged out Bromo Tower, which had 14, and Stevensville’s six, though Stevensville only received its designation in 2014.
In terms of direct impact, the RESI study concludes Snow Hill saw a total GDP impact of about $70,000 from the district, compared to Berlin’s $4.6 million and Salisbury’s $11 million. Snow Hill edged out Havre De Grace’s $67,000 and Denton’s zero showing.
The report concluded the arts and entertainment districts were a net positive in the state, generating almost $7.9 million in tax revenue and supporting a total of about 6,000 jobs.