State of Maryland, Office of International Business Offers Grant Funding

PRINCE FREDERICK, Md., -- October 9, 1998 -- The Calvert County Department of Economic Development announced today that the State of Maryland, Office of International Business (OIB), currently offers Maryland Trade Assistance Program (MTAP) grants up to $3,000. MTAP grants will be awarded to more than 40 small and medium-sized Maryland exporters who are pursuing special marketing projects abroad in the fiscal year that began on July 1, 1998.

MTAP funds are distributed twice per year, with $60,000 awarded in each period. The first round of grant awards were distributed to 21 Maryland businesses, and the State is preparing to begin its second round of funding.

MTAP is a reimbursable, matching grant program. The State Office of International business will reimburse a company for one-third of the expenses incurred during a pre-approved export activity including:

• Participation in a trade show (includes costs such as booth rental and freight);
• Participation in a trade mission (eligible costs may include travel and hotel expenses);
• Translation and printing expenses of product material; and
• Market research or international consulting services fees.

To qualify companies must have an established office in the State of Maryland, have at least two years of successful business operations, and have less than $20 million in annual gross sales. Additionally, products to be exported through this export promotion must have at least 50 percent Maryland content.

Applications for MTAP grants are now being accepted until December 1, 1998 for trade activities occurring between January 1, 1999 and June 30, 1999. Qualified applicants must submit an original, signed application, a detailed marketing plan, a description of the economic impact the export activity will have on the State of Maryland, a detailed budget, a brief history of the company, and evidence of at least two years of successful business operations. Applications are rated on a competitive basis.

For more information, or to obtain a copy a grant application, please contact Ms. Sheila C. Bennett, MTAP administrator, 410/767-0680.

For more information on the Calvert County, Maryland Department of Economic Development, our visitor sites and attractions and the services available to assist County businesses, call 410.535.4583, 800.331.9771 or 301.855.1880; or send an e-mail to info@ecalvert.com