SALISBURY – Officials in Wicomico County have endorsed grant funding in the amount of $100,000 to provide gap financing for various economic development projects.
On Tuesday, the Wicomico County Council approved a request from Salisbury-Wicomico Economic Development (SWED) to accept $100,000 in grant funding from the Maryland Department of Commerce’s Maryland Economic Development Assistance Authority and Fund (MEDAAF).
Dave Ryan, executive director of SWED, said the money will be injected into the organization’s revolving economic development loan fund, which provides gap financing for new and expanding businesses in Wicomico County.
While grant funding from MEDAAF is often directed to companies for job creation and retention, Ryan said the money can also assist jurisdictions in setting up or capitalizing revolving loan funds.
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Dave Ryan, another wicomico county local good old boys milking taxpayer dollars
ReplyDeleteGreat!!!! if all taxpayers did not have to foot the bill.
ReplyDeleteand of course it would be nice to see the transparency showing how these funds are dispersed by who for who?
ReplyDelete