FOR IMMEDIATE RELEASE
Contact: Cindy Skalny (410) 313-3123
Howard County Council Member David Yungmann Appointed to
Maryland Economic Development Corporation Board of Directors
ELLICOTT CITY, MD - Councilmember David Yungmann, the District 5 representative on the Howard County Council, was recently named to the Board of Directors of the Maryland Economic Development Corporation (MEDCO) by Governor Larry Hogan.
This position will allow Yungmann to contribute his corporate finance and local government background to support the State’s economic development activities. “Being regionally competitive for jobs and investment is critical for Maryland’s long-term fiscal stability,” stated Yungmann. “Economic growth with a robust job market must be a top priority as we endeavor to sustain a high quality of life for our taxpayers.”
As a former corporate finance and development executive, as well as a current small business owner, Yungmann brings extensive economic and financial perspective to his role on the County Council. In addition to serving on the County Council, Yungmann is a Realtor based in Ellicott City, through which he gains first-hand knowledge of what drives people moving into and out of the area. He understands the economic development needs of our local communities and how an organization such as MEDCO might bring to bear the resources needed to strengthen localities and the State.
The Maryland Economic Development Corporation (MEDCO) was established by the Maryland General Assembly in 1984 to serve as a statewide economic development engine. Its mission was broadened in 2000, when MEDCO was further authorized to partner with other State and local government entities to provide flexible financing options by issuing taxable, tax-exempt and Tax Increment Financing bonds. With oversight from the Board of Directors, the team collaborates to develop and finance qualified public and private projects to enhance the quality of life in Maryland.