|Program||# of Grants||EDA Funds|
During FY 2012, EDA continued its support of Maryland’s three economic development districts and university center by awarding four grants totaling $360,000 to EDA’s partners. These grantees help communities across the state develop, maintain, and implement strategic economic development plans. These bottom-up, locally driven approaches provide the state a roadmap to sustained growth and job creation.
Investment Spotlight: EDA Investment Creates an Emerging Entrepreneurial Environment
Co-working spaces for entrepreneurs is a concept that has proven to be very successful in many urban communities across the country. By providing entrepreneurs and new small businesses access to lower cost, flexible workplaces, co-sharing sites help to create a thriving entrepreneurial environment that promotes collaboration.
Despite this model’s track record of success, rural entrepreneurs historically have had limited access to these opportunities. With $120,000 in assistance from EDA, the Mid-Shore Regional Council EDD, in partnership with the Eastern Shore Entrepreneurship Center, created hotDesk.org. With two locations planned in rural Eastern Maryland, hotDesk.org will coordinate and encourage activities that accelerate the development of companies that apply new concepts and technologies in innovative ways by establishing virtual and physical networks of co-working spaces throughout the region where participating members can work, meet with clients, access professional and obtain technical resources and communicate with like-minded peers. Included in the regular scheduled events and programs will be events targeted at encouraging innovation and creativity. hotDesk.org will also assist and support regional incubators and accelerators.