A new grant program administered by the Maryland Department of Commerce aims to provide financial assistance to innovative infrastructure projects that demonstrate a transformative impact on the growth of the state’s strategic industry sectors.
The pilot for the Build Our Future grant program is funded at $10 million and will provide matching grants up to $2 million to eligible projects, Maryland Gov. Wes Moore announced Wednesday.
“From cybersecurity and manufacturing, to quantum and drug discovery, we believe the Build Our Future pilot program will grow our innovative industries throughout the state,” Moore said in a press release. “While building a more competitive and equitable Maryland, we need to ensure we’re looking toward the jobs of the future and supporting the progressive technology sectors.”
The grant program was established through the Innovation Economy Infrastructure Act of 2023 during Maryland’s most recent legislative session. Grants may be awarded to private companies, nonprofit organizations, local governments, colleges or universities in Maryland for projects involving cybersecurity ranges, prototype manufacturing centers, research spaces and more.
“We’re proud to be leading the charge behind the state’s new Build Our Future program,” said Maryland Department of Commerce Secretary Kevin Anderson. “These grants will help some of our biggest innovators expand their efforts and keep doing what they do best: pioneer new ideas and products and grow Maryland’s impressive innovation ecosystem.”
Applicants must be in good standing with the state’s Department of Assessments and Taxation. The state plans to begin accepting applications on Oct. 16 and an information webinar on the program is scheduled for Oct. 19.