Edwards fund at $20M for 2023
Jan. 2—CUMBERLAND, Md. — Three proposals have been received so far for economic development projects in Cumberland under the newly established Sen. George Edwards Legacy Fund, according to Matt Miller, executive director of the Cumberland Economic Development Corp.
The fund was established by the Maryland General Assembly in 2022 by allocating $50 million for economic development in Allegany, Garrett and Washington counties. Allocations include $20 million for 2023 followed by $10 million per year for three additional years.
The fund was named for Sen. George Edwards, who is retiring this month after more than 40 years in public service.
Officials began accepting applications in mid-December for the funding, which focuses on two categories — infrastructure improvements and business development. The priority of the projects must be job creation or retention.
"We've been collaborating with Allegany County Economic Development and we've been actively identifying projects within the city that could potentially utilize the funds set aside through the Sen. George Edwards Legacy Fund program," Miller told Cumberland's mayor and City Council last week. "To date we have received three NOI's, which is a notice of intent, and are working with a few private groups around the city that plan to submit as well."
Interested business leaders and entrepreneurs must file a notice of intent application for the funding at SenatorEdwardsFund.org.
Some of the areas mentioned under infrastructure include broadband connectivity, road access improvement, utility connections, property purchases, building/housing construction and general improvements.
"We think Cumberland has a very diverse group of projects that should be strong candidates for the program," Miller said. "The fund provides a unique opportunity to support a lot of projects taking place inside the city. This is a lot of money we have never had access to before."
The filing deadline for the current round of 2023 applications is Jan. 31.
"The idea is for the organization to reach out through the notice of intent," said Morriss. "That will very quickly be reviewed by the CEDC and the county economic development office, the same thing will be going on in Washington and Garrett counties, and then they will be getting with the ones that they believe are the best projects to work toward phase two."
Morriss said phase two of the application process will be a more in-depth review of the project details.
"Ultimately the economic development offices in each county will then come to the George (Edwards) fund with the projects they feel will be the best ones," said Morriss.
The final decision of funding will be made by a review board consisting of state representatives and officials from all three counties, including Edwards and Morriss.
Funding is available for both private and public entities to apply. Miller said the CEDC will be a sponsor for some projects.
"Frankly a lot of these projects have no capital available to them," said Miller. "This can make the difference to them."
"There is a message in all this," said Stu Czapski, CEDC economic development specialist. "There is a percentage of people that don't know that there are resources out there to help them start. So people need to know, if you have a thought or an idea, there are resources out there to help them with their project."
Greg Larry is a reporter at the Cumberland Times-News. To reach him, call 304-639-4951, email glarry@times-news.com and follow him on Twitter.
