State Awards CEDC $500,000 for Cumberland Investment Plan
The Cumberland Economic Development Corporation (CEDC) is pleased to announce Governor Hogan’s allocation of $500,000 in the state’s 2018 Capital Budget to assist the CEDC with the Baltimore Street Redevelopment Project.
The “Cumberland Investment Grant” funds will be used by the CEDC for the planned boutique hotel in the former M&T Bank building on Baltimore Street.
“This is another example of Governor Hogan’s commitment to Economic Development in Western Maryland. Governor Hogan, along with the entire Western Maryland Delegation, took the time to tour Baltimore Street and visit the proposed hotel site last fall,” said CEDC Acting Executive Director, Matt Miller.
The boutique hotel is planned for the M&T Bank building on Baltimore Street. The plans call for 48 rooms and will include a fitness center. The hotel will feature a walk through to the Allegany College of Maryland’s Culinaire Café and Gateway Center. CEDC, the Hotel Developer, and the College have collaborated to use the hotel as a training opportunity for Allegany College of Maryland’s students in the School of Hospitality Management and Culinary Arts. Students will be able to get necessary on the job experience by working at the hotel and in the adjacent restaurant.
“Allegany College of Maryland is pleased to collaborate on this project to provide job training and spur economic development. Quality higher education that is both affordable and accessible is a hallmark of our institution. As a community partner, the College will continue to develop and enhance our academic and career programs to meet the needs of our students and the region,” said Dr. Cynthia S. Bambara, President of Allegany College of Maryland.
About Cumberland Economic Development Corporation
The Cumberland Economic Development Corporation is a registered Maryland non-profit economic development organization focused on the betterment of the Cumberland region and is headquartered in the City of Cumberland, Maryland. The CEDC is overseen by a board of directors comprised of established business leaders and staffed by professionals with years of economic development experience and education.