Allegany Launches $2M Economic Growth Investment Program

Allegany County has launched Invest Allegany, a $2M investment program split over two years to create long term economic growth.

The Allegany County Commissioners are allocating these funds to help accelerate the county’s business community recovery, and support redevelopment of the downtown cores of Cumberland and Frostburg, as well as main streets across Allegany County.

According to the County’s website:

The goal of this program is to create long term value in the county by providing matching grant funds for capital improvement projects. These projects, when complete, will spur new job growth, encourage direct investment, preserve existing community infrastructure, increase the value of commercial and residential units in impacted areas, and ignite entrepreneurship in Allegany County.

The county has prioritized several areas of development. Projects located within those borders will be given preference on the scoring criteria for grant award. Projects located outside of those borders will still be considered, based on the other criteria outlined on the program’s webpage. The application portal for the program is set to go live on February 21, 2022.

Learn more about Invest Allegany ,and view the program’s criteria and priority area maps.