Coming Soon: New State-Funded Economic Development Grants for Qualifying Montgomery Nonprofits

To support a post-pandemic recovery and further strengthen the economic development activities of the largest local nonprofit network in Maryland, the Montgomery County Economic Development Corporation (MCEDC) will administer a new State-funded $3.4 million economic development grant program for qualifying local nonprofits. Applications will open on Tuesday, July 6, and close on July 16.

The MoCo Economic Development Grant Program for Nonprofits will provide competitively selected grants ranging from $10,000 to $20,000.

To be eligible to receive grants under the program, County nonprofits must have with initiatives that align with one (or more) of the four identified priorities:

• Minority-and-women-owned entrepreneurships
• STEM education
• Research and innovation development
• Small-scale manufacturing

The program also will award two selected local nonprofits with enhanced funding. One $100,000 grant and one $50,000 grant will be awarded to programs that best demonstrate a substantive impact on the Montgomery County economy in one or more of the four identified priorities. These two nonprofits will be chosen from the general application pool. A separate application is not required.

Eligible nonprofits should have annual revenues of no more than $2 million and no less than $50,000 for the most recent fiscal year. Eligible initiatives must have started no earlier than March 2020. Nonprofits will have until the end of 2021 to utilize the funds.

More information and FAQs in English and Spanish can be found on the MCEDC website. If you have additional questions, contact nonprofits@thinkmoco.com.