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Maryland Department of Commerce

Strategic Closing Fund

About this page.  This page explains the Strategic Closing Fund — formerly the Sunny Day Fund — in plain language. The Economic Development Opportunities Program Fund is authorized under State Finance and Procurement Article §7-314. The program was renamed and relocated to the Maryland Department of Commerce by the DECADE Act of 2026 (HB 898 / SB 388), effective July 1, 2026. If anything on this page conflicts with the statute, the statute controls.

Program renamed.  The Sunny Day Fund is now the Strategic Closing Fund. The DECADE Act of 2026 renamed the program, relocated it to the Department of Commerce, and modified the definition of an extraordinary economic development opportunity, effective July 1, 2026.

Program Status

The Strategic Closing Fund is currently active. Assistance is discretionary and awarded on a competitive basis.

Before you apply.  Assistance is reserved for extraordinary projects and is subject to available funding. Because the program was restructured effective July 1, 2026, confirm current eligibility, available forms of assistance, and funding availability with the program contact before applying.

What This Program Does

The Strategic Closing Fund supports extraordinary economic development opportunities that create and retain employment and generate significant capital investment in Maryland.

Projects must generate significant jobs, particularly in areas of high unemployment. They are evaluated on a competitive basis and must be consistent with the State’s strategic economic development plan.

Who This Is For

Businesses pursuing large-scale projects that will create significant employment and capital investment in Maryland, particularly in areas of high unemployment.

Because assistance is discretionary and reserved for extraordinary opportunities, this is not a program a business applies to routinely. Interested businesses should discuss a potential project with Commerce before applying.

Key Eligibility Requirements

To be considered, applicants must:

  • Demonstrate a strong balance sheet
  • Be creditworthy

Projects must also:

  • Generate substantial employment, particularly in areas of high unemployment
  • Be consistent with the State’s strategic economic development plan

How to Get Started

Because assistance is discretionary, interested businesses should contact the program directly to discuss a potential project before applying.

Contact Bonnie Barresi, Program Manager, Office of Finance Programs, at [email protected], 443-915-9538.

Legal Notices and Required Language

The Economic Development Opportunities Program Fund is authorized under State Finance and Procurement Article §7-314.

Amending legislation:

  • DECADE Act of 2026 (HB 898 / SB 388) — renamed the program the Strategic Closing Fund, relocated it to the Department of Commerce, and modified the definition of an extraordinary economic development opportunity; effective July 1, 2026

Applicants should consult the authorizing statute and applicable regulations for the complete legal requirements governing this program.

Contact

Bonnie Barresi
Project Manager
Maryland Department of Commerce
Email: [email protected]
Phone: 443-915-9538