The Silver Spring Arts and Entertainment District was designated on December 31, 2001 as an Arts and Entertainment District by the State of Maryland. Maryland’s Arts & Entertainment (A&E) Districts help develop and promote community involvement, tourism and business revitalization through tax-related incentives that attract artists, arts organizations and other creative enterprises. Silver Spring is now home to over 50 arts and humanities organizations, popular arts venues, entertainment businesses, etc. which attract hundreds of thousands of visitors. In FY13, the economic impact of Silver Spring’s festivals and public events generated $91,401,984 in visitor spending [Maryland’s Arts and Entertainment Districts Impact Analysis, Regional Economic Studies Institute].
Maryland is one of the first states in the country to develop Arts and Entertainment Districts on a statewide basis. The benefits offered to designated districts include property tax credits for new construction or renovation of certain buildings that create live-work space for artists and/or space for arts and entertainment enterprises, an income tax subtraction modification for income derived from artistic work sold by “qualifying residing artists”, and an exemption from the Admissions and Amusement tax levied by an “arts and entertainment enterprise” or “qualifying residing artist” in a district.