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Maryland Department of Commerce

Maryland Industrial Development Financing Authority (MIDFA) and the Maryland Economic Development Assistance Authority and Fund (MEDAAF)

The Maryland Industrial Development Financing Authority (MIDFA) and the Maryland Economic Development Assistance Authority and Fund (MEDAAF; also known as Advantage Maryland) are both served by the same Authority members. For MIDFA, the Authority reviews and approves financing transactions being issued as private activity bonds and loan guarantees; for MEDAAF, the Authority reviews and approves loans to support economic development initiatives​.

Maryland Industrial Development Financing Authority

MIDFA encourages private sector investments with insurance, and the issuance of tax-exempt and taxable revenue bonds. Insurance reduces the lender's credit risk. All projects must be in a Priority Funding Area. While the transaction size is generally not limited, the credit enhancement is subject to the applicable program limits.

MIDFA can be used for land acquisition, building acquisition, construction costs, machinery and equipment, furniture and fixtures, leasehold improvements, certain eligible "soft costs," energy-related projects and working capital.

Maryland Economic Development Assistance Authority and Fund​ (Advantage Maryland)

A flexible and broad-based program, Advantage Maryland funds grants, loans and investments to support economic development initiatives. Uses include business attraction and retention, infrastructure support, brownfield redevelopment, arts and entertainment districts, daycare, revolving loan funds and local strategic planning. Projects must be within Priority Funding Areas and eligible industry sectors. Awards are made on a competitive basis.​

Members

  • Harry Coker, Jr. - Secretary, Maryland Department of Commerce
  • Bohdan Denysyk Ph.D. - 2019-2024, President & CEO, Global USA, Inc.
  • Diana Emerson - 2022-2027, Executive Director, Waverly Main Street
  • Brooke Lierman - Comptroller; State of Maryland
  • Richard Ohnmacht - 2022-2026, Chief Commercial Banking Officer, Woodsboro Bank
  • Ben Seigel - Comptroller's Designee; State of Maryland
  • Ryan Showalter - Esq., 2022-2024, Co-founder, MDSW Law Offices
  • Brian Sweeney - 2018-2023, Executive Director, Maryland MEP

Contact

For more information about MIDFA contact:

  • Bruce Alderman, Finance Specialist
    Maryland Department of Commerce, Office of Finance Programs
    410-375-0204

For more information about MEDAAF (Advantage Maryland) contact:

  • Bonnie Barresi, Project Manager
    Maryland Department of Commerce, Office of Finance Programs
    410-599-3552

Meeting Archive