A flexible and broad-based program, Advantage Maryland (also known as MEDAAF) funds conditional grants, loans and investments to assist economic development initiatives. Uses include business attraction and retention, infrastructure support, brownfield redevelopment, arts and entertainment districts, daycare, revolving loan funds and local strategic planning. Projects must be within
Priority Funding Areas and eligible industry sectors. Awards are made on a competitive basis.
BENEFITS
Five financing capabilities are offered through Advantage Maryland with assistance being provided to the business community and political jurisdictions.
- Strategic Economic Development Opportunities
- Local Economic Development Opportunities
- Direct Assistance to Local jurisdictions or MEDCO
- Regional or Local Revolving Loan Fund
- Special Purpose Programs
ELIGIBILITY
Projects must include a County Resolution and support significant economic development initiatives to include:
- Business attraction and retention
- Infrastructure support
- Brownfield redevelopment
- Local revolving loan funds
- Local strategic planning within Priority Funding Areas
- Eligible industry sectors
Eligible industry sectors (as of 12/2021)*
- Aerospace Aeronautics, Unmanned Aerial Systems (UAS)
- Agriculture and Resource Based Industries
- Biotechnology, Health Care Technology, Pharmaceuticals
- Businesses with U.S. or regional headquarters in Maryland
- Distribution, Warehousing, Transportation and Logistics
- Environmental Technology, Renewable Energy and Energy Production
- Financial Services
- Information Technology, Telecommunications, Cybersecurity
- Manufacturing
*As found in Section 5-321 (a) of the Economic Development Article, after consulting with the Department of Labor, each year the Maryland Economic Development Commission evaluates the potential employment and economic growth of Maryland’s industry sectors; and recommends eligible industry sectors to the MEDAAF Authority.
