# Economic Development (GEC)

## Title 5. Economic Development and Financial Assistance Programs

### Subtitle 3. Maryland Economic Development Assistance Authority and Fund

#### Section 5-311

The purposes of the Fund are to:

(1) expand employment opportunities in the State by providing financial assistance to businesses that are engaged in eligible industry sectors, including financial assistance for:

  (i) aquaculture projects;

  (ii) arts and entertainment enterprises;

  (iii) arts and entertainment projects; and

  (iv) creation and expansion of child care facilities;

(2) provide financial assistance for the redevelopment of qualified brownfields sites;

(3) provide financial assistance to local governments and the Corporation for economic development projects; and

(4) provide grants to local economic development funds.

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Md. Code Ann., Econ. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)