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Rural Economic Development
Issue:
Business and job retention and expansion are critical tonine Eastern Shore counties.
Actions:
MCE Rural Development Center at UMES in cooperation with countieshas received over $12 million in grants to provide: revolvingloans, technical and marketing assistance, research, feasibilitystudies, planning, heritage and nature-based tourism, andmicrobusiness assistance.
Impacts:
Business and job retention and expansion are critical tonine Eastern Shore counties.
Actions:
MCE Rural Development Center at UMES in cooperation with countieshas received over $12 million in grants to provide: revolvingloans, technical and marketing assistance, research, feasibilitystudies, planning, heritage and nature-based tourism, andmicrobusiness assistance.
Impacts:
- Invested $1.8 million in 158 Eastern Shore development projects(average $11,279 investment) and leveraged $10.3 million in localshare investments, total of $12.1 million.
- Lent $12 million to over 50 manufacturing businesses incooperation with the 4 Lower Shore Counties. Leveraged $60 millionprivate lending. Impacted 4,000 jobs.
- Assisted the 4 One Maryland designated counties (Caroline,Dorchester, Somerset and Worcester) to develop implementation plansfor funding under the program.
- Adoption and implementation of 4 county Comprehensive EconomicDevelopment Strategies.
For more information, contact Richard Byrne
Last updated: 03/10/2009