Understanding that a thriving local economy is built on the foundation of strong, innovative businesses is at the heart of what we do in Queen Anne’s County. That understanding is why our Economic Development Incentive Fund (EDIF) was created and designed to offer critical financial support to companies that are ready to contribute to the growth and prosperity of our community. Whether you’re an entrepreneur launching a new venture, an established business expanding your operations, or a company considering relocation to the county, the EDIF could be an option to help you succeed.
Established in 2013 with an initial appropriation of $750,000 by the County Commissioners, the EDIF now offers $1.1M in cash incentives through conventional commercial loans and conditional loans (some conditional loans can convert to grants when job creation requirements are met or exceeded). These funds are available to businesses that demonstrate a significant economic impact—whether through job creation, business attraction, or growth of key industry sectors. By offering assistance, typically in amounts up to $50,000 with equipment acquisition and workforce development, the EDIF aims to build a future where both QAC businesses and residents can thrive.
“The EDIF grant was a complete game changer for my small business,” says Dr. Lindsay Fox, owner of Fox Acupuncture. “I would not have been able to expand to a larger location without this grant. The grant allowed me to hire more providers as well as an office manager and front desk staff so that we can treat a higher volume of patients. It also allowed me to grow my business without the looming debt on top of it. I am so grateful to the county for make this grant accessible to small business owners. It really made a huge difference in my ability to serve this community in the most impactful way possible.”
Focusing on Strategic Industries
The EDIF is available to a wide range of businesses, but the county places a strong emphasis on key industry sectors. These industries include:
- Manufacturing
- Agriculture and Seafood
- Technology
- Medical Services
- Hospitality and Tourism
- E-commerce and Fulfillment
By prioritizing these sectors, the EDIF is able to target high-growth areas that align with the county’s long-term economic goals. Projects are evaluated based on their economic impact, job creation, and alignment with land-use goals—ensuring that investments support not just the businesses themselves but the entire Queen Anne’s County community.
Long-Term Benefits for the County
Since its first award in 2014, the fund has approved 40 projects, disbursing over $3M in loans and grants. These investments have resulted in over $44M in capital investment and the creation of 1,300+ jobs. The EDIF’s success has also contributed to an increase in the assessed value of commercial properties, further boosting the county’s commercial tax base and driving economic growth.
In addition, the fund allocates $240,000 specifically for workforce development, recognizing that investing in people is just as important as investing in businesses. By helping businesses acquire the tools and talent they need, the EDIF is fostering a vibrant economic environment where everyone can prosper.
2024 EDIF Awardees
Five Queen Anne’s County businesses have been approved for EDIF funding in 2024. These include:
- Anchored Hope Home Care (Medical Services)
- Eastern Shore Primary Care (Medical Services)
- Ten Eyck Brewing (Hospitality/Tourism)
- Arnaiz Chocolat (Hospitality/Culinary)
- PRS Guitars (Manufacturing)
Apply for EDIF Today
Are you ready to take the next step for your business? Contact the Department of Economic and Tourism Development today to learn more about how the EDIF can support your growth. Or click here to begin your application and start the journey toward success.
Categories: Press Release