Western Maryland is seeing measurable returns from a state-backed investment fund aimed at supporting local job growth and economic development.
In an article from the Maryland Department of Commerce, a report from the Western Maryland Economic Future Investment Board shows that the Senator George C. Edwards Fund has generated more than $290 million in economic activity and over 1,150 new jobs across Allegany, Garrett, and Washington counties over the past two years.
Launched in 2022, the four-year, $50 million Fund supports projects that fall under two categories: business development and capital infrastructure. Funded projects include broadband expansion, housing, transportation upgrades, and commercial redevelopment, all aimed at boosting economic growth and employment in Western Maryland.
So far, more than $36 million in grants awarded, supporting:
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The expansion of Queen City Creamery in Cumberland,
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Upgrades at Garrett Container Systems near Deep Creek Lake,
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A new medical school at Meritus Medical Center in Hagerstown,
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Redevelopment of the Rosenbaum building in downtown Cumberland for SPARC Research.
From the Report:
This year, the Fund allocated over $18.4 million in new grant funding across the three counties, supporting a variety of initiatives with a total project economic value of $145,354,440:
- Washington County: $7,229,104 in grants funded projects aimed at workforce development, historic revitalization, and cultural enrichment, with a projected economic impact of 293 new jobs and a total project economic value of $58,344,440.
- Allegany County: $5,315,000 in grants targeted infrastructure improvements, adaptive reuse of properties, and growth in the emerging cannabis and aerospace industries, projecting 132 new jobs and a total project economic value of $43,518,000.
- Garrett County: $5,877,455 in grants supported critical infrastructure upgrades, healthcare access, and housing development, with an expected impact of 122 new jobs and a total project economic value of $43,492,000.
The Fund is a targeted effort to strengthen the region’s economic base and workforce through strategic, place-based investments.