Garrett County businesses, entrepreneurs, and organizations planning infrastructure investments to support innovation may be eligible for funding through the Build Our Future Grant Program, administered by the Maryland Economic Development Corporation (MEDCO).
The program provides matching grants of up to $2 million to support infrastructure projects that advance innovation in Maryland’s strategic technology sectors. By helping address capital costs associated with specialized facilities and equipment, the program aims to encourage private investment, strengthen emerging industries, and support economic growth across the state.
Eligible applicants include private companies, nonprofit organizations, local governments, and colleges and universities in Maryland.
Eligible industries and projects
The program supports innovation in several sectors relevant to business development and economic diversification, including:
- Advanced manufacturing
- Agriculture
- Aerospace
- Artificial intelligence
- Biotechnology and life sciences
- Cybersecurity and defense
- Energy and sustainability
- Sensors and robotics
Eligible projects may include constructing or improving specialized facilities, establishing prototype manufacturing centers or research spaces, and purchasing and installing qualifying machinery and equipment. Grant funds are intended for eligible capital costs rather than operating expenses, salaries, or consulting fees.
Matching requirements apply
Applicants must demonstrate their ability to provide the required matching funds and cover their share of total project costs. For grants of up to $1 million, applicants must provide matching funds equal to at least 200% of the grant amount. For grants exceeding $1 million and up to $2 million, the required match increases to at least 400% of the grant amount. Certain federal, county, and municipal funds may qualify toward the match, subject to program requirements.
Awards are limited to $2 million per entity per fiscal year. Projects must meet the program’s expenditure, operational, reporting, and other grant conditions.
Explore funding opportunities for your business
For Garrett County businesses considering an expansion, investment in advanced equipment, or development of specialized facilities, the Build Our Future Grant Program may be worth exploring if the proposed project supports an eligible technology sector.
Applications are accepted on a rolling basis through MEDCO’s online application portal. Eligibility requirements, matching provisions, and other conditions apply, and businesses should review the program guidelines before applying.
For program information and application details, visit the MEDCO Build Our Future Grant Program website.
Questions may be directed to Nick Henninger-Ayoub, MEDCO Director of Program Development, at nhenninger@medco-corp.com.
