Two commercial projects currently underway in Queen Anne’s County are estimated to bring in over $550,000 annually in tax revenue. Matapeake Professional Park and The Vineyards at Queen Anne are both located on Kent Island.
“What makes these projects so important, particularly in this tough economy, is the fact that the county did not purchase these properties with county tax payer dollars,” said Commission President Gene Ransom.
The state of Maryland gave the Matapeake property to the county, while almost 98 percent of the $6.8 million for the purchase of the Bay Bridge Airport property came from the Federal Aviation Administration and the Maryland Aviation Administration.
The 52 acre site at Matapeake is located on Route 8 and was deeded to the county in 1996 with the stipulation that it be developed into an economically viable venture. Two local businesses currently leasing space in the Chesapeake Bay Business Park are looking to expand by purchasing land at Matapeake and moving their firms to the new location. Four additional lots of about seven acres per lot will then be available for sale and development, generating an estimated $300,000 in annual property tax revenue.
The Commissioners recently signed a lease with Coastal South for the development of the airport property. The proposed $35 million project, called The Vineyards of Queen Anne, will be built on 14 acres of surplus airport land and is expected to generate about $260,000 in annual property tax revenue. The project includes a winery, a hotel, restaurants and over 50,000 square feet of retail and tourism related business.
Commissioner Paul Gunther said both projects are good examples of fiscal responsibility, economic development and job creation in Queen Anne’s County.
“Vineyards at Queen Anne will not only create jobs and help our commercial tax base, but the winery and vineyard will really help showcase our county’s agricultural heritage and promote the area as a tourist destination,” said Gunther.
“The Bay Bridge Airport project puts the land back on the property tax rolls. The rent generated from the lease is required by the FAA to go back into the airport so this will make the facility a truly self-sustaining enterprise,” he said.