As reported by WTOP, a Maryland agency plans to study the transfer of wealth from aging residents in rural areas to their descendants in cities and suburbs. From the story,
Agency documents say wealth accumulated by aging people in rural areas is leaving those communities as it gets passed to their heirs in more urban settings. The draft report says communities that understand this trend can devise strategies to capture and retain some of their lost wealth.
The study would be funded through the Rural Maryland Prosperity Fund. According to the Fund’s website, objectives of the Rural Maryland Prosperity Investment Fund are to serve the interests of the State of Maryland by:
- Encouraging and increasing entrepreneurism
- Reducing unemployment and underemployment
- Preserving valuable working landscapes
- Promoting intergovernmental cooperation and public-private partnerships throughout the State
- Enhancing housing, transportation, water, wastewater, and broadband infrastructure and services.
For more information, see the full story from WTOP, Agency aims to study transfer of wealth in rural Maryland.