CUMBERLAND — The Sen. George Edwards Fund will receive an installment of $10 million for 2024, bringing the total state investment designed to improve the Western Maryland economy to $30 million so far.
The Edwards Fund, governed by the Western Maryland Economic Investment Board, was allocated $50 million by the state of Maryland in 2022 to be distributed evenly to Allegany, Garrett and Washington counties over a four-year period to create jobs and stimulate the economy. Funded in installments, $20 million was received in 2023 and the remaining $20 million will be issued in $10 million tranches in 2025 and 2026.
Some of the largest plans approved for funding in 2023 were largely expansion projects at Western Maryland Lemonade, Queen City Creamery, The Rosenbaum building, Wills Hotel and a Vocke Road improvements project. Those four efforts are expected to create 205 jobs.
The Edwards Fund board consists of 11 non-voting and five voting members. Andrew Sargent, from the Maryland Department of Commerce, was the executive director for 2023.
“In the last legislative session the delegation made some changes,” said Sargent. “I have become a non-voting member for 2024. We completed our first round in 2023 and pushed over $18 million out the door.”
For 2024, the board hired former Allegany County Commissioner Jake Shade of The Lockhouse Group to be the executive director. Shade will perform the administrative duties required.
“The fund is a tremendous opportunity for the region, and I’m proud to play a small role in it,” said Shade. “We have to make sure we use this $50 million over four years to create long-term growth, we have to make sure the funds are administered properly and we have to make sure it has maximum impact for Western Maryland.”
Three of the five voting members are commissioners in the counties represented: Dave Caporale, Allegany; Paul Edwards, Garrett; and Jeff Cline, Washington County. Two private citizens, former state Sens. George Edwards, who is the board chairman, and Andrew Serafini, a state senator representing Washington County, round out the voting seats on the board.
In 2023, the fund received 100 applications. The projects were ranked and presented to the board, which had the final vote of approval. Overall, the fund approved $19,866,233 in grants. The funding is estimated to assist in projects valued $178 million.
“We are monitoring those projects,” said Sargent. “Each applicant is responsible for submitting quarterly reports on their projects. How they spent the money and where. We want to know the details to make sure they are performing and using the money appropriately.”
“For next year they will do away with the open application process,” said Shade. “Parties interested in the funding should contact myself, a member of the board, or county economic development. The board has also decided to focus on large-scale projects with a minimum award of $150,000 unless an exception is made.”
Shade recently compiled a comprehensive report that will ultimately be filed with the state.
According to the report, 12 projects were approved in Allegany County. They are expected to add an estimated 239 jobs and have a $58 million impact on the county.
Shade said the 2023 projects, approved under the previous board, are still in process. Projects include the Western Maryland Lemonade expansion to receive $1 million with an estimated 30 jobs to be created.
The Rosenbaum Building redevelopment received $500,000 with 25 jobs expected. The Wills Hotel development will receive $500,000 with 30 jobs expected.
Allegany County’s Vocke Road access improvements was awarded $1 million with 60 jobs expected.
A PharmaCare-compliant clean room is approved for $223,000 expecting 25 jobs.
The Queen City Creamery is approved for $200,000 with 60 jobs likely. The 1812 Brewery will receive $750,000 adding 6 jobs.
Reptilian Arts expansion approved for $15,000 adding 3 jobs.
The following projects are not likely to add any permanent jobs but are infrastructure and job support efforts as well as a tax base multiplier.
The Memorial Hospital housing project to receive $1.5 million; Allegany County Sedgwick Street housing project awarded $422,000; Allegany College of Maryland for metal printers: $100,000, and Rainmaker Entertainment renovations approved for $140,000.
The report said projects in Garrett County could add an estimated 239 jobs and have a $13.2 million impact for the area.
The Beitzel Corp. expansion is awarded $1.5 million adding 25 jobs. Corsa Coal Company’s North Mine improvements will receive $1.3 million with 60 jobs possible.
The Garrett County Gov. MEDCO Spec building purchase to receive $600,000 with 120 jobs estimated, and the Simon Pierce Glass Co. expansion is approved for $1.5 million with 34 jobs estimated.
Projects not likely to add permanent jobs but support infrastructure and the tax base include the Garrett County affordable housing project approved for $1.2 million and the county’s Keysers Ridge Business Park utility install approved for $500,000.