The Mathews Economic Development Authority wants businesses and nonprofits to know that there’s financial help available for existing county businesses and for companies that want to locate in Mathews.
“We’re open for business,” said EDA Chairman Joe Syslo.
Syslo explained that there are so few jobs available locally that most residents have to find work outside of the county. This leads to stagnant population growth and increasing tax burdens on local property owners.
“We can’t continue to sustain the services of the county on real estate taxes only,” he said. “Everything will continue to inflate. Property taxes will have to go up.”
More businesses are needed to stimulate the local economy, said Syslo, but businesses often need incentives to put down roots in Mathews. Those incentives are what the EDA is all about.
The Economic Development Authority can issue revenue bonds, initiate incentive programs, and provide grant resources and low-interest loans to for-profit and nonprofit busi...