About Us
The Maryland Economic Development Corporation (MEDCO) is an instrumentality of the State of Maryland created by the General Assembly to serve as a statewide economic development engine. MEDCO has real estate development and bond issuance powers as well as the ability to collaborate and create contemporary financial solutions to bring projects to life. MEDCO works vigorously to increase business activity, advance economic development, encourage charitable and cultural activities, enhance workforce development and promote the economic viability of the State.
MEDCO History
MEDCO is a quasi-government development corporation, created by the General Assembly in 1984 to serve as a specialized economic development org-supporting private business, non-profit, federal, state, and local government entities. MEDCO has the authority to acquire, lease, improve, and/or develop real and personal property; finance projects through bond issuance and commercial loans; and offer advisory and consulting services
MEDCO Performance History
Fiscal Year 2022 Review
- Bonds Issued in FY 22 > $760 million
- Total outstanding conduit bond balances: > $2 billion
- Completed Developments:
o NPS C&O Canal Headquarters
o Bowie ELLC - Consulting projects:
o Bainbridge
o Mag Lev
o MD National Capital Parks & Planning Commission
o MDOT (Traffic Relief & Purple Line)
o Morgan State University
o National Park Service
MEDCO’s Mission
Legislative Purpose
- Relieve unemployment in the State
- Encourage the increase of business activity and a balanced economy in the State
- Help retain and attract business activity and commerce in the State
- Promote economic development
- Promote the healthy, safety, right of gainful employment, and welfare of residents of the State
MEDCO conducts its business within the organization and externally in the marketplace, in pursuit of its strategic mission and objectives, guided by the following core values:
- Equity
- Integrity
- Community
- Excellence
MEDCO Strategic Plan
With guidance from the MEDCO board and key public/private stakeholders, the organization developed its first Strategic Plan since its founding in 1984. This plan focuses MEDCO efforts and resources to better accomplish the following:
- Target industry development, working more strategically with the Maryland Department of Commerce to help grow the State of Maryland’s economy in areas of high economic potential and return
- Innovation capacity development, partnering with Maryland’s federal facilities and higher education institutions to enhance Maryland’s economic competitiveness and overall performance
- Fostering inclusive and equitable economic growth, working with state and local partners, help pursue projects and development that addresses the goals and needs of underserved populations and communities
- Strategic placemaking, utilizing MEDCO’s full capabilities to provide the right infrastructure, development and amenities to leverage key state assets and facilitate sustainable, transformative and equitable economic growth statewide