Plan Links Strategy and Governance to Deliver Community Investment Across Maryland’s Urban and Rural Communities

The Maryland Community Investment Corporation (“MCIC”) today released its inaugural strategic plan, approved by board resolution on December 22, 2025, outlining a statewide strategy to expand equitable access to federal New Markets Tax Credit (“NMTC”) financing. As a core part of that strategy, MCIC has recruited cross-sector leaders from across Maryland to serve on board committees, strengthening local insight in investment decision-making and helping ensure capital reaches communities that historically have not received it.

MCIC’s analysis found a significant geographic imbalance in NMTC deployment across the state. Over the life of the program in Maryland, approximately 90 percent of investments have been concentrated in Baltimore City, even though only about half of Maryland residents living in federally designated low-income communities reside there. Communities across the Eastern Shore, Capital Region, and Western Maryland have therefore received a disproportionately small share of development financing. Projects supported by NMTCs often include health clinics, grocery stores, community centers, renewable energy facilities, and small manufacturing sites that create jobs and address local needs.

“Inclusive growth requires participation from every region of our state,” said Brooke Lierman, Comptroller of Maryland and Chair of the MCIC Board. “We are taking important steps to ensure that communities across Maryland have access to the same financing tools that spark revitalization and expand opportunity.”

To address the imbalance, MCIC will operate both as a Maryland-focused Community Development Entity deploying tax credits directly and as a field catalyst convening investors, preparing projects for financing, and strengthening the pipeline for mission-driven real estate. The organization’s committee structure is central to that approach: statewide leaders will work alongside cabinet-level board members to translate local market realities into underwriting standards and investment priorities.

The governing board — composed of state secretaries overseeing housing and community development, planning, general services, and commerce, along with the Comptroller and local leaders — will now be joined on committees by professionals with expertise in tax credits, public finance, rural economic development, governance, and real estate:

• Elizabeth Stahlman, Tri-County Council for Western Maryland
• Sam Shoge, Rivers & Roads Consulting
• Hans Riemer, Trajectory Energy Partners
• Molly R. Bryson, Ballard Spahr LLP
• Jeff Ratnow, Site-Insight
• Seth Whetzel, Capital Impact Partners

“Our role is both investor and field builder,” said Michael Pokorny, Chief Executive Officer of MCIC. “We will finance transformative projects directly, while also attracting capital partners and preparing projects across the state to meet investment standards. The goal is simple: every region of Maryland should be competitive for community development capital.”

By integrating statewide practitioners into governance, MCIC aims to identify investable projects earlier, reduce barriers to financing, and attract additional Community Development Entities and Community Development Financial Institutions to Maryland communities.

“Local expertise matters,” Lierman added. “When leaders from rural, suburban, and urban communities help guide investment decisions, we build a stronger pipeline and make smarter investments for the entire state.”

About MCIC

The Maryland Community Investment Corporation (“MCIC”) is a state-chartered, independent instrumentality established to expand investment in low-income communities across Maryland. A qualified community development entity in the New Markets Tax Credit program, MCIC drives equitable community development across Maryland by expanding access to resources, fostering collaboration, and making catalytic investments to spark inclusive growth. To learn more, read MCIC’s strategic plan and partnership toolkit. Connect with MCIC by visiting mdcommunityinvestment.com or by following MCIC on LinkedIn.

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“Inclusive growth requires participation from every region of our state,” said Brooke Lierman, Comptroller of Maryland and Chair of the MCIC Board.