The next meeting of the Senator George Edwards Fund Board will be on Monday, August 12th at 2:00pm. Members of the public may observe the open session portion of the meeting by calling in with these credentials:
(484) 546-8127 PIN: 170 454 647#
In the 2022 Legislative Session, the Maryland General Assembly passed Senate Bill 474, sponsored by Senators George Edwards, Paul Corderman and Katie Hester to catalyze economic development in Western MD. The legislation called for the creation of the Senator George C. Edwards Fund and established the Western Maryland Economic Future Investment Board to review, evaluate and rate applications for funding from the program.
It also made this program a part of the Tri-County Council of Western Maryland, which staffs the board and administers the fund.
In the 2023 Legislative Session, Senate Bill 865 and House Bill 768 called for a larger board with fewer voting members and allowed for the hiring of an Executive Director. The present board makeup is described in The Board section below.
The Board will seek projects that make a substantial economic impact, bringing significant employment opportunities and/or increasing the tax base in Western Maryland.
There are two categories of funding. Money in the fund can only be used to award grants and provide loans to capital infrastructure projects and business development projects to improve the economic conditions in the region.
Senate Bill 865/House Bill 768 in the 2023 session changed the positions which are represented on the board and allows for the hiring of an Executive Director. Currently, the Western Maryland Economic Future Investment Board is comprised of the following positions and is filled by the people listed:
Commission President Paul Edwards
Commission President David Caporale
Commissioner Jeff Cline
George C. Edwards, Councilman, Town of Grantsville
Andrew Serafini, Principal, Wealth Enhancement Group
Steve Kelley, Director, Community & Economic Development & Planning
Jeff Barclay, Director, Community & Economic Development
Jonathan Horowitz, Director, Department of Business Development
Gary Ruddell, Total Biz Fulfillment
To be appointed.
Senator Mike McKay
Senator Paul Corderman
Delegate Jason Buckel
Delegate Brooke Grossman
Andrew H. Sargent, Senior Business Development Representative
Jake Shade, The Lockhouse Group
The first round of applications has closed. In January 2024, the Board adopted a new application process. Projects need to have significant job creation or provide significant increases to taxable base. The minimum grant amount is $150,000, projects less than this amount may be considered on a case-by-case basis. Inquiries should be made to Executive Director, Jake Shade at jshade@lockhousegroup.com, a Member of the Board, or the Economic Development Director in the county in which the project will take place.
