Governor Announces $50 Million Rural Maryland Economic Development Fund

Governor Hogan recently announced the $50 million in grant funding has been set aside for rural economic development activity. 

Governor Larry Hogan last week announced $50 million in new grant funds will be made available to boost economic development activity, stimulate private sector investment, and grow jobs in the state’s rural regions. Five rural regional councils, representing the Upper, Mid, and Lower Eastern Shore, Southern Maryland, and Western Maryland, will submit proposals to the Maryland Department of Commerce outlining how they plan to use up to $10 million available through the Rural Maryland Economic Development Fund.

According to the press release:

“Today we are taking the next important step forward in our efforts to help rural Maryland come back better and stronger than ever before,” said Governor Hogan. “This unprecedented $50 million investment will help us put even more ‘open for business’ signs in the windows in our small towns, it will create thousands of new jobs in rural communities, and it will literally transform neighborhoods and communities for the better all across our state.”

Counties that will benefit from the grant funds include Allegany, Calvert, Caroline, Cecil, Charles, Dorchester, Garrett, Kent, Queen Anne’s, Somerset, St. Mary’s, Talbot, Washington, Wicomico, and Worcester. Regional projects that foster collaboration between the counties are encouraged.

The grant program is designed to be flexible and allow each rural council to determine the best use of funds within the program’s guidelines in coordination with the counties they represent. Eligible uses of the funds include developing infrastructure such as utilities, transportation, and broadband to support the attraction, retention, or expansion of businesses, as well as infrastructure related to specific industry sector development including manufacturing, cyber security, and the life sciences.

Read the full press release.