About

About the Maryland Economic Development Corporation

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.

Our History and Abilities

In 1984, the Maryland General Assembly established the Maryland Economic Development Corporation to relieve unemployment; encourage, attract and retain business activity and commerce; promote economic development and promote the health, safety right of gainful employment and welfare of residents of the State. To fulfill these legislative purposes, MEDCO was given broad financing capabilities and the ability to own and develop real estate and personal property.

In 2000, the State broadened MEDCO’s powers, authorizing it to partner with other State and local government entities to provide greater financing flexibility.

MEDCO’s economic development capabilities have continuously evolved with the State’s changing economic environment and needs. MEDCO’s capabilities include real estate ownership and development and issuance of tax-exempt and taxable bonds. Additionally, MEDCO provides creative financing solutions through the issuance of Tax Increment Financing bonds for Transit-Oriented Developments and Sustainable Communities. MEDCO structures its financings on a non-recourse, project basis, ensuring that loans for each project are funded solely by revenue generated from each project.

With oversight from a Board of Directors and operations managed by an executive director and a team of ten employees, MEDCO continues to fulfill its mission to deploy its financial and development capabilities, bringing qualified projects to life.