City of Cambridge to update economic development plan
The City of Cambridge has received a $25,000 grant to re-evaluate and update its economic development strategic plan. The funding is provided by the Community Development Block Grant Program (CDBG), which is administered by the Maryland Department of Commerce and the Maryland Department of Housing and Community Development, and overseen by the U.S. Department of Housing and Urban Development.
Cambridge’s economic development plan is focused on creating business and employment opportunities, as well as guiding commercial and industrial development, main street revitalization, and employment and training. This is the city’s second CDBG grant, having received a $50,000 grant from Maryland Commerce in 2009 to create the current plan. With this additional funding, Cambridge will be able to evaluate the progress made and recommend any necessary modifications.
“This grant will help us learn from our work to date and to freshen the plan by incorporating new economic opportunities,” said Cambridge City Manager Sandra Tripp-Jones. “We appreciate our partnership with the State of Maryland in achieving economic growth in Cambridge.”
“In 2006, the City of Cambridge committed to focusing on stimulating economic growth within the community by creating an economic development agency,” said Mary Calloway, Associate Director of Cambridge Economic Development. “This grant will help us evaluate the progress we’ve made since then and continue to update our existing strategic plan. Our objective is to utilize our unique heritage and core assets to best position Cambridge as a place for prospective commercial and industrial markets.”
“Our goal at Commerce is to work with all regions of the state to help them grow jobs, add new businesses and increase their competitive advantage,” said Commerce Secretary Mike Gill. “The State is pleased to support Cambridge’s economic development plan and ensure that this growing city reaches its full potential.”