Capital Gazette Reports on Inclusive Ventures Program Receiving $1.65M in Federal Funding

December 23, 2022

The Capital Gazette reported that U.S. Senator Chris Van Hollen and U.S. Senator Ben Cardin announced on December 23, 2022 that they secured nearly $24 million in federal funding for projects and programs in Anne Arundel County – including $1,650,000 to fund the expansion of AAEDC’s Inclusive Ventures Program (IVP) – in the following article:

Maryland U.S. senators secure nearly $24 million in congressional omnibus bill for Anne Arundel County projects

The article included the following quote from Anne Arundel County Executive Steuart Pittman:

“From economic development and mental health to public safety and climate resilience, these funds will help us serve communities across our county.”

It highlighted the funding for IVP in the following paragraph:

For Anne Arundel County’s Inclusive Ventures Program, which helps small business owners hone their skills, strategize for the future and directly provides them capital, $1.65 million has been allocated. The program started in early 2021 and attracted more than 120 applicants last year.

Introduced by AAEDC in January 2021, IVP aims to help small, minority-owned, woman-owned, and Veteran-owned businesses in Anne Arundel County by providing business education, access to capital, and mentorship. Including the most recent cohort, 42 total business owners have completed the program.

To learn more, visit the Inclusive Ventures Program page.

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About the Anne Arundel Economic Development Corporation

Founded in 1993, the Anne Arundel Economic Development Corporation (AAEDC) is a 501(c)(3) organization based in Annapolis, Maryland. AAEDC’s mission is to serve as a catalyst for business growth in Anne Arundel County, thereby increasing job opportunities, expanding the tax base, and improving citizens’ quality of life. To do so, it provides the public with a host of services including financing, site selection assistance, permitting and zoning guidance, workforce development support, community revitalization, market research, and small business counseling and resources. On a larger scale, AAEDC plays a vital role in enhancing commercial districts, improving infrastructure, and both growing and promoting business sectors such technology, agriculture, and maritime within the county. To learn more, visit www.aaedc.org.

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