WASHINGTON -- An agency at the University of Maryland Eastern Shore that works to expand tourism and other industries has received a $120,000 grant from the Commerce Department to enlarge its work.
The agency, the Rural Development Center, lends money to small businesses, trains entrepreneurs and works with county leaders to improve the Eastern Shore's economic climate.
The development center "allows us to not only improve our outreach, it helps people find employment for so many unemployed on the Eastern Shore," university President William P. Hytche said Friday. "If the right businesses are established here, they'll become tax-paying citizens."
Under a revolving loan program, the center lends money to local governments to disburse to businesses. The center has helped 15 businesses with the loans.
The center's $120,000 federal grant has attracted a $40,000 grant from the university.