Meeting Information

Meeting Notice: The Senator George C. Edwards Fund Board

The next meeting will occur on Monday, March 20th, 2023, at 1:00 pm. There will be a short Open Session to discuss the minutes from March 13th, if available, and then the Board will go into a Closed Session to discuss individual projects for the remainder of the meeting. The Public may observe the Open Session portion of the meeting by using these telephone credentials:
‪+1 (234) 719-3968‬ PIN: ‪571 041 351#‬

Agendas and Minutes
March 20, 2023:
Agenda | Minutes
March 13, 2023:
Agenda | Minutes
February 27, 2023:
Agenda | Minutes
February 13, 2023:
Agenda | Minutes
January 9, 2023:
Agenda | Minutes
December 19, 2022:
Agenda | Minutes
December 9, 2022:
Agenda | Minutes
November 14, 2022:
Agenda | Minutes
September 26, 2022:
Agenda | Minutes
September 12, 2022:
Agenda | Minutes
August 22, 2022:
Agenda | Minutes
August 2, 2022:
Agenda | Minutes

In the 2022 Legislative Session, the Maryland General Assembly passed Senate Bill 474, sponsored by Senators George Edwards, Paul Corderman and Katie Hester. 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.

Background

Program Information

The Board is looking for projects that will make a substantial economic impact, bringing significant employment opportunities and/or increasing the tax base.

There are two categories of funding available. 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.

Infrastructure Funding

  • Used in the traditional sense of infrastructure, such as broadband connectivity, road access improvement, utility connections, property purchases, building/housing construction, and improvements, etc.
  • Must lead to creating new jobs that pay at least 120% of the State Minimum Wage.
  • Requires at least a minimum 20% match of total project costs from local government, the business itself, or another source to be reviewed and approved by the Board. Higher matches will be given preference.
  • The Board may increase the minimum match requirement from local government, the business itself, or other sources to preserve fund capital and allow funding of more projects.

Business Development Funding

  • Must lead to creating new jobs that pay at least 120% of the State Minimum Wage.
  • Requires at least a minimum 10% match of total project costs from local government, the business itself, or another source to be reviewed and approved by the Board. Higher matches will be given preference.
  • Assistance may be offered in the form of a grant or a loan, depending on available funding and the characteristics of the project.
  • The Board may increase the minimum match requirement from local government, the business itself, or other sources to preserve fund capital and allow funding of more projects.

Senate Bill 474 also designated the positions which are represented on the board. Currently, the Western Maryland Economic Future Investment Board is comprised of the following positions and is filled by the people listed:

Garrett County Economic Development

George C. Edwards, Garrett County Economic Development Corporation

Garrett County Chamber of Commerce

Will Wrobleski, President

Garrett County Commissioner

Commission President Paul Edwards

Allegany County Chamber of Commerce

Juli McCoy, President

Allegany County Economic Development

Jeff Barclay, Director, Community & Economic Development

Allegany County Commissioner

Commissioner David Caporale

Washington County Chamber of Commerce

Paul Frey, President

Washington County Economic Development

Jonathan Horowitz, Director

Washington County Commissioner

Commissioner Jeff Cline

Maryland Municipal League Representative

Mayor Ray Morriss, Cumberland

Maryland Department of Commerce (Chair)

Andrew Sargent, Sr. Business Development Rep.

The Board

Process

The first round of applications has closed. More information will be found here when future rounds are announced.