STEVENSVILLE, Md. (AP) - A state agency dedicated to rural development plans to study the transfer of wealth from aging residents in rural areas to their descendants in cities and suburbs.
The project is part of a draft report to the General Assembly that leaders of the Rural Maryland Council are discussing Monday in Stevensville.
The study would be funded with some of the nearly $2.2 million that the legislature allocated to the Rural Maryland Prosperity Investment Fund for the fiscal year starting July 1.
Agency documents say wealth accumulated by aging people in rural areas is leaving those communities as it gets passed to their heirs in more urban settings. The draft report says communities that understand this trend can devise strategies to capture and retain some of their lost wealth.
