Advantage Maryland (MEDAAF)

Advantage Maryland (MEDAAF)

Invests Maryland firms in targeted economic development finance in Maryland through structured financing and growth-oriented milestones.

Eligibility · United States · US-MD

Advantage Maryland, formally known as MEDAAF (Maryland Economic Development Assistance Authority and Fund), is a competitive, rolling grant and financing program administered by the Maryland Department of Commerce to attract and retain major economic development projects across the state. The program does not publish a fixed award cap or application deadline; deals are evaluated and awarded on a continuous basis through the Office of Business Development's regional representatives. Projects must be located within Maryland's designated Priority Funding Areas, and applicants are required to secure a County Resolution from local government before the state will consider their application, making local political buy-in a prerequisite for eligibility.

The program encompasses five distinct financing capabilities: MEDAAF-1 addresses strategic economic development opportunities of statewide significance; MEDAAF-2 targets local job creation projects; MEDAAF-3 provides direct assistance to local jurisdictions or the Maryland Economic Development Corporation (MEDCO); MEDAAF-4 supports regional or local revolving loan funds for small businesses; and MEDAAF-5 covers special-purpose programs including Arts and Entertainment Districts, day-care facility financing, street entertainment zones, and BRAC zones. Award structures can include conditional grants, loans, direct investment, and below-market fixed-rate financing, configured per deal rather than on a published template.

Eligible sector categories as of the December 2022 guidelines include aerospace and unmanned aerial systems, agriculture and forestry, biotechnology and health care technology, distribution and logistics, environmental technology and renewable energy, financial services, technology and cybersecurity, and manufacturing. Businesses with U.S. or regional headquarters in Maryland are specifically called out as a target. Applicants initiate the process by contacting the Office of Business Development; no public scoring rubric governs competitive evaluation.