MEDCO'S PRIMARY PURPOSE IS TO EXPAND PRODUCTIVE EMPLOYMENT AND THE STATE'S ECONOMY AND TAX BASE THROUGH THE DEVELOPMENT OF CERTAIN VACANT OR UNDER-UTILIZED INDUSTRIAL SITES AND FACILITIES AS WELL AS OTHER ECONOMIC RESOURCES. IN FULFILLING ITS PURPOSE, MEDCO PROVIDES FACILITIES AND FINANCING OF FACILITIES TO BUSINESSES AT FAVORABLE RATES. MEDCO ALSO PROVIDES MANAGEMENT AND CONSULTING EXPERTISE.
Executive compensation, broken down
Form 990 · Schedule J · 6 reported individuals · Filing year 2023
- Base
- $319k
- Bonus
- —
- Other
- $258
- Benefits
- $45k
- Base
- $184k
- Bonus
- —
- Other
- $13k
- Benefits
- $2k
- Base
- $153k
- Bonus
- —
- Other
- $15k
- Benefits
- $32k
- Base
- $135k
- Bonus
- —
- Other
- $7k
- Benefits
- $11k
- Base
- $123k
- Bonus
- —
- Other
- $7k
- Benefits
- $19k
- Base
- $96k
- Bonus
- —
- Other
- $30k
- Benefits
- $13k
| Position | Base | Bonus | Other | Benefits | Total |
|---|---|---|---|---|---|
Executive Director and Secretary | $319k | — | $258 | $45k | $413k $454k |
CFO | $184k | — | $13k | $2k | $228k $251k |
Director of Re & Development | $153k | — | $15k | $32k | $226k $248k |
Director of Financing highest compensated employee | $135k | — | $7k | $11k | $174k $192k |
Director of Innovation & Strategic Partnerships highest compensated employee | $123k | — | $7k | $19k | $168k $184k |
Asst Director of Financing highest compensated employee | $96k | — | $30k | $13k | $159k $174k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with Baltimore-Columbia-Towson, MD metro-area CPI-U, restating filed pay into April 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 14 unpaid individuals.
Up 9%
from 2022
From $379k in 2022 to $413k in 2023.
Estimated with Baltimore-Columbia-Towson, MD metro-area CPI-U, restating filed pay into April 2026 dollars. A restatement of past pay, not current or projected pay.
Revenue and expenses over time
MARYLAND ECONOMIC DEVELOPMENT CORPORATION reported revenue and expenses across 2 filing years.
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