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Hagerstown, MD (April 16, 2024) The Washington County Department of Business and Economic Development is pleased to share important updates from the State of Maryland regarding the Ports Act recently signed into law by Governor Wes Moore. The PORT Act creates programs aimed at assisting businesses and workers affected by the Francis Scott Key Bridge collapse. Details of these programs, including dates and eligibility criteria, are now available. See below for programs run by three state agencies.
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Port of Baltimore Emergency Business Assistance Program – Administered through the Department of Commerce
Provides grants of up to $100,000 to eligible businesses whose operations have been affected or whose shipments have been disrupted at the Port of Baltimore. To qualify, businesses must demonstrate economic and financial harm due to a decrease in business revenue and activity and/or an increase in the cost of operating the business.
Applications open on April 22nd. For program criteria, see https://commerce.maryland.gov/fund/port-of-baltimore-emergency-business-assistance-program.
Loans and grants for neighborhood businesses – Administered through the Department of Housing and Community Development
Loans and grants are available to businesses affected by decreased revenue or increased costs. The Small Business Grant Program provides grants of up to $50,000 to small/street-level businesses within a 5-mile radius of the Key Bridge, and the Business Loan Program provides grants of up to $50,000 to small/street-level businesses within a 5-mile radius of the Key Bridge, and the Business Loan Program provides grants of up to $50,000 to businesses impacted by the collapse of the Key Bridge or reduced traffic. Provides loans of up to $500,000 to eligible businesses. Statewide port activity.
Applications open on April 22nd. See program standards at https://dhcd.maryland.gov/Business/Pages/KeyBridge.aspx.
Baltimore Port Worker Retention Program – Administered through the Ministry of Labor
Organizations eligible for grants of up to $200,000 include businesses employing up to 500 workers, labor unions, trade associations, and organizations whose operations have been hampered or completely shut down due to the port shutdown. It will be. Up to $7,500 per worker can be spent on wages and other support.
The application will open now. Learn more and apply at https://labor.maryland.gov/keybridgeresources/portworkerretention.shtml.
To learn more about our Worker Retention Program, join us for a webinar today, April 16, at 3:00 p.m.
Webinar details are available at https://www.linkedin.com/posts/maryland-Department-of-labor_are-you-a-port-of-baltimore-employer-facing-activity-7185704107041595392-jlfs/.
For additional resources, visit https://response.maryland.gov/bridge.
If you require additional information, please contact Linda Spence, Business Specialist with the Washington County Department of Business and Economic Development. [email protected].
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