# Economic Development (GEC)

## Title 5. Economic Development and Financial Assistance Programs

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

#### Section 5-320

(a) To be eligible for financial assistance from the Fund, an applicant shall be:

  (1) a local economic development fund that meets the criteria set forth in Part V of this subtitle; or

  (2) an individual, private business, nonprofit entity, or local government, or the Corporation that intends to use the requested financial assistance for a project that:

    (i) except as provided in subsection (b) of this section, is in an eligible industry sector under Sec. 5-321 of this subtitle; and

    (ii) has a strong potential for expanding or retaining employment opportunities in the State.

(b) A project need not be in an eligible industry sector if the applicant:

  (1) is located in a Tier I county; or

  (2)

    (i) is a local government or the Corporation; and

    (ii) does not intend to use the financial assistance to carry out a project that benefits a particular private sector entity.

(c) In form and content acceptable to the Department, an applicant for financial assistance from the Fund shall submit to the Department an application that contains:

  (1) the information that the Department or Authority considers necessary to evaluate the request for financial assistance; and

  (2) for a Tier I county project:

    (i) a marketing plan designed to market the project to prospective businesses;

    (ii) a statement of planned marketing expenditures as a percent of the total financial assistance amount requested; and

    (iii) a plan for the project that is consistent with the county's local strategic economic development plan as to the location and type of project.

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