Allegany Launches $2 Million Investment Program

Allegany County this week launched Invest Allegany, a $2 million investment program split over two years to create long-term economic growth.

The Allegany County Commissioners are allocating these funds from the American Rescue Plan to help accelerate the County’s business community recovery and support the redevelopment of the downtown cores of Cumberland and Frostburg and main streets across Allegany County.

This program aims 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 is accepting applications through April 1, 2022.