Medco Highlights $10B Project Pipeline, New Center for Public‑Private Partnerships

Tom Sadowski, Executive Director of the Maryland Economic Development Corporation (Medco), told the House Education & Economic Development Subcommittee that Medco's portfolio and project pipeline have expanded and that the agency is positioning a new Maryland Center for Public‑Private Partnerships to organize the work.

DLS presented Medco's profile: a non‑budgeted economic development entity that issues bonds and manages operating and nonoperating projects. DLS noted Medco reported net operating income of about $30 million in FY25, issued $54 million in bonds for the Elkton Sports Park Complex, and managed projects that include student housing and planned industrial facilities. The fiscal 2027 allowance includes $23.5 million for Medco projects (about $16 million in operating funding and $7.5 million in GO bonds), DLS said.

Sadowski said Medco issued roughly $1 billion in revenue bonds last year, helped realize more than $520 million in equity impact across communities, and described a private investment pipeline he said exceeds $10 billion. He highlighted the Business Ready Sites and Strategic Infrastructure Revolving Loan Fund programs (Medco has already awarded about $3.2 million of a $3.5 million appropriation for certified sites) and said the first round of loans from the strategic infrastructure fund is expected before the end of FY26.

Committee members asked about energy infrastructure and asset disposition. Sadowski said Medco can support projects such as new substations and redundancy through the strategic infrastructure fund but that these efforts require appropriate local and state approvals; he described asset sales (for example the UMCP energy project) as outcomes of formal procurement and market processes when private ownership better serves long‑term sustainability. He also highlighted Medco's MBE engagement metrics (above 35% in recent projects) and cited a $600 million Prince George's County school financing revenue bond transaction as an example of large‑scale activity.

The committee thanked Medco for its testimony and noted the agency would follow up with details on certain projects and oversight practices raised in DLS's analysis.