![[photo, Clock Tower Place, 1410 Forest Drive, Annapolis, Maryland]](/msa/mdmanual/25ind/images/1198-1-3202.jpg)
Stephen R. McHenry, Executive Director
Clock Tower Place, Suite 28
1410 Forest Drive, Annapolis, MD 21403
(410) 267-6807; fax: (410) 267-6809
e-mail: smchenry@marbidco.org
web: www.marbidco.org
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Clock Tower Place, 1410 Forest Drive, Annapolis, Maryland, September 2008. Photo by Diane F. Evartt.
Appointed by Governor with Senate advice & consent to 4-year terms: Peter P. Alexander, 2012; Joseph E. Chisolm, Sr., 2014; Rantz, W. Purcell, 2014; Megan E. Keyes, 2015; Adan A. King, 2015; Sarah J. O'Herron, 2015; Faith Elliott Rossing, 2015; Howard D. Leathers, Ph.D., 2016; Wayne Richard, 2016; Douglas W. Lipton, Ph.D., 2017; Pamela N. Saul, 2017.
Ex officio: S. Patrick McMillan, designee of Secretary of Agriculture; D. Gregory Cole, designee of Secretary of Business & Economic Development; Emily H. Wilson, designee of Secretary of Natural Resources; Donald J. Darnall, Executive Director, Maryland Food Center Authority; vacancy, Executive Director, Rural Maryland Council; Nick T. Place, Ph.D., Associate Director, Maryland Cooperative Extension.
In July 2004, the Maryland Agricultural and Resource-Based Industry Development Corporation was authorized as a public corporation and an instrumentality of the State (Chapter 467, Acts of 2004). The Corporation works to bolster rural economies, advance and sustain locally-produced food and fiber products, and preserve working farm and forest land.
Maryland's agricultural businesses are aided by the Corporation which provides access to affordable capital and credit, and business planning guidance. Through grants and low-interest loan programs, the Corporation provides financing to farm, forestry and seafood operations to help them take advantage of emerging markets in food and fiber production and in rural tourism or ecosystem services. Rural land preservation is facilitated by the Corporation's work with State and local land preservation agencies and commercial lenders. Young or beginning farmers, including those engaged in shellfish aquaculture, and agricultural enterprises seeking to diversify their business operations also receive assistance from the Corporation. (Code Economic Development Article, secs. 10-501 through 10-527).
Since 2006, the State budget has included mandatory funding to capitalize the Corporation's business investment programs. This authorization ends in 2021 (Chapter 289, Acts of 2006).
The Corporation is governed by a Board of Directors consisting of seventeen members. Eleven are appointed to four-year terms by the Governor, and six serve ex officio (Code Economic Development Article, sec. 10-505).
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