Create an Account - Increase your productivity, customize your experience, and engage in information you care about.
Allegany County Government Announces Nearly $2 Million in Invest Allegany Grants
Grant program designed to accelerate the county’s business community recovery and support redevelopment
June 27, 2022 - CUMBERLAND, MD - Allegany County Government is pleased to announce $1,814,271.31 in grant funding to 12 area projects through the Invest Allegany grant program. Invest Allegany was an investment program that launched in February of 2022 utilizing funds from the American Rescue Plan to help accelerate Allegany County’s business community recovery and support redevelopment of the downtown cores of Cumberland and Frostburg as well as main streets across Allegany County.
Jake Shade, President of the Board of County Commissioners, explains that "Invest Allegany will prove to be a lasting success and will be a model for years to come. We designed this program from scratch to spur investment in buildings that needed attention. It has worked spectacularly. I only wish we had more funding to assist with more of these great projects.” Commissioner Shade added, “Instead of telling building owners what to do, we relied on their expertise and will fund a broad array of projects. Every single one of them will improve an older building and expand our tax base.”
Awards ranged from $20,000 to $250,000 and will go towards capital improvements of existing structures as well as qualifying capital goods totaling no more than 10% of total project cost. A 1:1 grant match was required by applicants and the awards represent over $3.6 million in community revitalization, directly benefiting small, local businesses.
Over 40 projects applied for the Invest Allegany grant program. A review committee ranked each of the applicants using criteria that focused on the project’s soundness of business plan, impact on local placemaking, and potential for positive job creation and/or multifamily market-rate housing.
The Allegany County Commissioners have requested that the remaining $185,728.69 in allocated grant funding be used for a second round of funding for those that have already applied. Additional details will be determined by the established review committee before the end of the month.