Governor Hogan Announces Additional $34 Million for Higher Education and Economic Development Projects
ANNAPOLIS, MD—Governor Larry Hogan today announced an additional $34 million for critical capital projects in the State of Maryland to improve infrastructure at colleges and universities and to support economic development across the state.
To date, the governor has announced more than $700 million in emergency economic relief for Marylanders. With the addition of the RELIEF Act, the governor’s top priority for 2021, this commitment will total $1.7 billion in state aid.
“As we continue on our road to recovery, these investments in higher education and economic development are just one more way we can put people to work while providing critical services to Marylanders,” said Governor Hogan. “We continue to explore every possible avenue to stimulate Maryland’s economy and direct investment to the people and projects that need it most.”
The governor has approved funding for the following projects:
- $24.2 million for shovel-ready capital maintenance projects for the University System of Maryland ($21.2 million), Morgan State University ($2 million), and St. Mary’s College of Maryland ($1 million).
- $6.8 million for facility renewal projects at the state’s 16 community colleges.
- $3 million to fund capital grants for shovel-ready projects through the Department of Housing and Community Development’s Strategic Demolition and Smart Growth Impact Fund.
These projects are funded by bond premium payments earned by the state at its July 2020 bond sale, in which the state once again benefited from a AAA bond rating from all three major credit agencies. These funds would become available immediately upon passage of the Fiscal Year 2022 budget by the legislature, which will be introduced this week.