Hogan Announces $50M Rural Economic Development Fund
ANNAPOLIS, Md. (AP) — Maryland Gov. Larry Hogan announced Friday a new $50 million rural economic development fund.
Grants will be available to boost economic development, stimulate private-sector investment and grow jobs in rural parts of the state.
Five rural regional councils will submit proposals to the Maryland Department of Commerce outlining how they plan to use up to $10 million. The regions will include the upper, mid and lower Eastern Shore, southern Maryland, and western Maryland.
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.
The governor's office says the grant program is designed to be flexible, allowing each rural council to determine the best use of funds within the program's guidelines.
The funds can be used to develop infrastructure such as utilities, transportation and broadband to support the attraction, retention, or expansion of businesses. The money also can be used for infrastructure related to manufacturing, cyber security and the life sciences.
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