Economic Development Administration
EDA supports local economic development efforts in areas with high unemployment and low per capita income. In Maryland, EDA provided $155 million for development projects in Western Maryland, in Baltimore City, and on Maryland's Eastern Shore.
EDA Projects on Maryland's Eastern Shore
EDA provided $25 million for development projects on the Eastern Shore, including funds for industrial parks in Denton, Federalsburg, Cambridge, Princess Anne, Pocomoke, and Queen Anne's County. EDA projects also include water and waste-water treatment facilities serving Salisbury, Crisfield, Somerset County and Dorchester County.
EDA provided $5,675,000 sto support the start-up of the UMES Rural Development Center and establish three revolving loan funds serving Dorchester, Somerset, Wicomico and Worcester counties. This program provided over $7,000,000 in fixed asset and working captial loans to 30 businesses to create or retain 1,500 jobs and leverage over $50 million in private investment.
EDA funding also:
updates computer and telecommunications equipment for local economic development offices on the Lower Eastern Shore.
supports Lower Eastern Shore and Lower Susquehanna Heritage Tourism Committee.
supports Salisbury State University's export promotion efforts and assists local businesses in identifying new markets for local products.
supports DBED's Strategic Assitance Fund to help firms develop new product lines or enter new markets.
supports Wor-Wic Community College's Advanced Technology Center and the Lower Shore Regional Manufacturing Alliance.
provides technical assistance to small communities for marketing and feasibility studies to support development projects.
|