RMPIF MD Rural Entrepreneurship Grant

The Rural Maryland Prosperity Investment Fund (RMPIF) aims to enhance the living standards in rural Maryland by promoting entrepreneurship and economic development. By 2030, it seeks to support local businesses, create jobs, and improve infrastructure while preserving cultural heritage. The fund encourages partnerships and grants for nonprofit organizations and educational institutions dedicated to fostering sustainable rural economies through innovative business practices and community revitalization efforts.

Overview
The objective of the Rural Maryland Prosperity Investment Fund (RMPIF) is to help raise the overall standard of living in rural areas to a level that meets or exceeds statewide benchmark averages by 2030, while preserving the best aspects of a cultural heritage and rural way of life. Resources provided to RMPIF are designed to facilitate significant targeted investments in important economic and community development programs and promote regional and intergovernmental cooperation. These investments will also enable local and regional public and nonprofit organizations to leverage additional non-state financial and human resources to facilitate the realization of sustainable rural development objectives. The Fund will serve the interests of the entire State by:
Encouraging the increase of entrepreneurial activity and commerce and a balanced economy in the State;Relieving conditions of unemployment and underemployment in rural areas;
Assisting in the retention of valuable farm and forest land for productive use by present and future generations;Promoting intergovernmental cooperation and public sector/private sector partnerships in and between rural and other areas;Enhancing the deployment of housing, transportation, water, wastewater, and broadband communications infrastructure and services in rural areas;Supporting rural commercial center redevelopment and community revitalization efforts; and,
Generally promoting the health, happiness, safety, employment opportunity, and general welfare of the residents of each of the rural counties and municipal corporations of the State.
Rural Entrepreneurship Development
Between one-third and two-thirds of any economy’s growth is attributable to entrepreneurial activity. Finding ways to transform the resourcefulness, innovation and self reliance that is so often found in rural communities into growing, innovative businesses is a challenge many rural economic development professionals are increasingly embracing as an effective and important strategy for growing the tax base, expanding economic opportunities, and creating sustainable local economies.
Because of the strong correlation between a high level of entrepreneurship and high economic growth, rural entrepreneurship may well be the best economic development option for communities where citizens are typically poorer, older and more isolated from markets than their urban or suburban counterparts.
Traditional economic development strategies that tend to focus on recruiting larger companies to relocate their operations to the region may not work in rural communities which often do not have the infrastructure or skilled or low-wage labor force necessary to attract or keep big employers. Focusing more on helping existing businesses grow and new businesses start offers better long-term prospects for many rural areas.
The Rural Maryland Prosperity Investment Fund will promote entrepreneurship and assist efforts that provide training and technical assistance to the entrepreneurs who can help build prosperous and sustainable rural communities by creating jobs, raising incomes, creating wealth and improving the quality of life.
Rural entrepreneurship development would provide grants for entrepreneurial development activities of rural serving nonprofit organizations and higher education institutions. Entrepreneurship, a key economic development strategy, supports existing rural business sectors (including agriculture and tourism), as well as innovation in technology and other economic development areas.
Grant Amount
Grant Awards Are Subject To Funding Availability. There is no maximum grant amount; however, the Grant Review Board would optimally fund eight entrepreneurial projects in FY2026. Past and current RMPIF grantees are eligible for an FY2026 grant if they have met all the requirements of their previous grant agreements, including reporting deadlines.
Match Requirement
Applicants must secure a minimum 25% cash match funds from non-state sources for the entire project proposed in the application. Federal funds are considered matching cash funds. A stronger cash match will result in a higher score on the grant evaluation. RMPIF funds will not be released until proof of a match is submitted.
Changes and Unused Funds
Only very minor changes in scope are allowed after a grant has been awarded. Some project timelines can also be modified. Unused grant funds must be returned to the Rural Maryland Council no later than July 15, 2026.