Economic Development Blog
Catch-up on the latest economic development news and events in Allegany County. Be the first to learn about local updates in housing, investment, and business oriented programs and events by signing up for our newsletter and receiving posts directly to your inbox.
- 10/15/2024Economics
Meet The Three Allegany County Ventures Approved for the Business Expansion Deferred Loan Program
Due to high loan interest rates, the Allegany County Economic and Community Development (ACECD) has launched the Business Expansion Deferred Loan Program to provide local businesses with essential growth capital on more favorable terms, driving business success and investment into the county.The first of its kind in Allegany County, the Business Expansion Deferred Loan Program offers loans ranging from $10,000 to $50,000 with interest rates around 3%—roughly half the rate offered by conventional lenders, making growth more attainable for local enterprises. Businesses that meet their annual goals can have up to 50% of their loan forgiven and have a six-month payment deferral, which further accelerates growth. On September 5, 2024, during the Allegany County Board of Commissioners Public Meeting, three businesses were approved as the first recipients of the loan program—Locust Post Brewery, Queen City Scoop Shop, and Chew On This - Jerky.Nathan Price, Senior Project Manager for ACECD, notes, “We chose these first three recipients because of their tremendous potential for success,” said Price. “Each recipient has become a community staple in Allegany County, and this loan program will help them take the next step in enhancing their offerings while driving investment into the county and recognition for artistry in the region.”Read more about the program’s first three recipients below. - 9/23/2024Community
Innovative Experts to Gather at Tech at the Gap 2024: Breaking Barriers
Each year, the Tech at the Gap conference welcomes leading innovators to Western Maryland, stimulating the region’s growing tech landscape and adding to Allegany County’s notoriety as an evolving hub of industry expertise. Tech at the Gap 2024: Breaking Barriers will take this legacy further, exploring how advanced technology can revolutionize communities and fuel positive change. Hosted by the Western MD IT Center of Excellence at Allegany College of Maryland, this year’s conference takes place on October 16, 2024, at the Rocky Gap Casino Resort in Flintstone, Maryland. “This year’s theme, ‘Breaking Barriers,’ was chosen to highlight how technology can empower communities to use tech to overcome challenges and foster a brighter future,” said Autumn Becker, Executive Director of the Western MD IT Center of Excellence at Allegany College of Maryland. “We hope the keynote speakers, breakout sessions, and networking experiences will inspire our attendees to think broadly about how innovation can address various challenges—from reducing socioeconomic disparities and promoting inclusivity in tech to solving business problems.”Tech at the Gap 2024 brings together a diverse lineup of keynote speakers, each with firsthand experience in leveraging creative ideas and digital solutions as a powerful catalyst for breaking barriers and driving meaningful change. - 9/18/2024Jobs
ACM Brewing Certification Supports Growing Craft Beer Industry in Allegany County
Inspired by the growing popularity of craft beverage businesses in Western Maryland, the Allegany College of Maryland (ACM) School of Hospitality Management and Culinary Arts has launched a special Brewing Operations Certification Program to equip students with the knowledge and hands-on experience needed to succeed in the evolving handcrafted beverage industry. Debra Swope, a longtime faculty member for ACM’s hospitality, baking, and nutrition programs, became Program Director for the Brewing Operations Certification Program in 2022. Leveraging her culinary expertise and educational background, Swope helped shape the program and continues to engage students to take advantage of the offering.“Craft brewing has become really popular,” shared Swope. “Within the past five years, we’ve started incorporating more craft brewing pairings in our student-run restaurant, Culinaire Café. The students and public have shown a real interest in brewing.” “Many people interested in this field are enthusiasts, many of whom have full-time careers or majors,” shares Swope. “To make the certification more accessible, we designed the program to be attainable to full-time students and workers, hobbyists, future entrepreneurs, and those looking to change careers.” - 9/13/2024Community
Allegany County Farmers Markets Offer Bountiful Harvest and Community Connection
For over thirty years, Allegany County's farmers markets have been a hallmark of summer for the community. From May to October, regional markets in Cumberland and Frostburg offer residents and visitors access to nutritious, locally grown produce, and artisan products while creating a meaningful space for community connection, education, and health.“Just as shopping at local businesses is crucial for our economy, supporting our local farmers and makers is equally important,” emphasizes Melinda Kelleher, Executive Director of Cumberland’s Downtown Development Commission. “When we invest in our community’s farmers and artisans, we not only keep our money local, but we also foster a sense of pride and connection in Allegany, our natural resources, and the health of our residents.” - 9/05/2024Community
Allegany and Garrett Counties Launch Award-winning “Make It. In The Mountains.” Campaign to Attract Local Business Investment
Western Maryland’s outdoor recreation attractions are increasingly recognized globally for their natural beauty, accessibility, and variety. Top destinations such as the Great Allegany Passage and the C&O Canal National Historical Park—ranked as the 16th most visited U.S. National Park Service site—continue to draw visitors near and far. A new research project and Make It. In the Mountains. marketing campaign, spearheaded by Allegany and Garrett County Governments and the Maryland Department of Commerce and Office of Tourism, aims to leverage the region’s leading natural resources to attract more outdoor-focused businesses and manufacturers to the area, driving further investment into Western Maryland. Ashli Workman, Director of Allegany County Tourism, explains, “We have seen Allegany’s outdoor-based amenities drive destination awareness and visitor volume, but they’ve also acted like an ambassador for our economic development. Companies are interested in our region because of the lifestyle that their workforce can have after the nine-to-five.” - 8/30/2024Housing
Paca Street Property Renovation Revives Historic Downtown Cumberland Buildings
Paca Street is ready to begin a new chapter in its history. LUMA, LLC is approaching the end of a remodeling project that will revitalize 206 and 208 Paca Street, bringing new, updated apartment options and versatile retail or office space to Downtown Cumberland using funding support from the Invest Allegany grant. The classic brick buildings, located just off Interstate 68, were first constructed in 1900. Shortly thereafter, 206 Paca Street became home to Geatz’s Restaurant, one of Maryland’s longest-running eateries, originally established in the town center in 1880. During its early years, Cumberland residents could enjoy a locally made lager at the restaurant for just five cents. After 137 years in business, the anchor establishment closed its doors in 2017. - 7/12/2024Housing
Five Apartments Come to Polk Street Using Invest Allegany Grant
107 Polk Street, an architectural landmark in Downtown Cumberland, is stepping into a new era. Using the Allegany County Economic and Community Development (ACECD) Invest Allegany grant, the former Junior Masonic Lodge has undergone a transformative refurbishment, creating five modern, market-rate apartments. This construction is part of a strategic effort to revitalize vacant and underused properties in Allegany County. Hunter Abell is a third-generation contractor and President of his family’s construction business, Jack Abell, Inc. The firm has a long history in Cumberland, Maryland, where it was established in 1978. Originally purchased as a personal property, Abell bought the building in 2005 and saved funds to renovate it to its former glory. - 6/20/2024Housing
N Mechanic Street Welcomes New Residential Opportunities
As Allegany County continues to develop and expand, the demand for residential housing options grows. Responding to this need, the Allegany County Economic and Community Development (ACECD) Invest Allegany grant program provides a financial conduit to spur adaptive reuse projects in the county’s downtown and main street areas. The program incentivizes the conversion of vacant or underutilized downtown spaces into viable mixed-use properties to help create housing options and boost business.N Mechanic Street, a principal thoroughfare alongside downtown Cumberland’s Wills Creek, will soon host three new apartments in upper-level space that had previously been commercial offices using funding from Invest Allegany. The building is under refurbishment by the North Mechanic, LLC. team, John Macy and Constance (Connie) LePrevost. - 6/06/2024Housing
Cumberland Department of Community Development to Bring Over Twenty New Housing Units
A strategic initiative is underway in Cumberland to accelerate blight removal and transform underutilized spaces into market-rate housing. Through the Infill Development Incentive Program, jointly established by the City of Cumberland and Allegany County, the City is poised to welcome over twenty much-needed housing units.“For decades, the declining population has led to a lot of unlivable, blighted properties in Cumberland,” shares Ken Tressler, Director of Administrative Services for the City of Cumberland. The City implemented a Nuisance Property Removal Program in 2014, which was renamed the Neighborhood Revitalization Program in July 2021. Since the program's initiation, the City has acquired over one hundred unlivable properties through tax foreclosure, donations, or acquisition. - 5/21/2024Economics
Geocycle’s New Allegany County Pre-Processing Plant Transforms Waste into Resources
Geocycle officially opened its pre-processing facility in Cumberland on May 16, 2024, marking the company’s 197th location worldwide. The new facility will convert unusable waste products into viable fuels, creating local jobs and providing an environmentally sound waste removal option for local and regional manufacturing businesses.“Geocycle’s investment in Allegany County is a big deal,” shares Jeffrey Barclay, director of Allegany County Economic and Community Development (ACECD). “They are a multi-billion dollar company with a global presence. Not only does Geocycle bring jobs and living wages to our community, but their status as a key industry player brings attention to Allegany County’s growing notoriety in the circular economy.”