Two New Economic Relief Programs to Support Workers & Businesses Affected by Key Bridge Collapse are now Live
Two programs that were created under Maryland Governor Wes Moore’s executive order that was signed on April 5th – went live on Monday. These are two economic relief programs to support workers and businesses affected by the Key Bridge collapse – through the Maryland Departments of Labor, Housing and Community Development and Department of Commerce. Gov. Moore says these programs extend a lifeline to people and places touched by the collapse.
Additional information from Gov. Wes Moore:
“We are working together to support everyone affected by the economic consequences of the Key Bridge collapse – from workers to businesses to entrepreneurs,” said Gov. Moore. “These relief programs extend a lifeline to the people and places touched by this tragedy. Moving in partnership, we will continue to offer stability, certainty, and support to Marylanders as they navigate the challenges of this moment.”
The Maryland Department of Housing and Community Development’s $5 million Neighborhood BusinessWorks small business grant program will provide businesses with grants of up to $50,000; the $10 million no-interest loan program offers loans of up to $500,000. Eligibility and program information are available on the department’s website. Applications for both programs will be awarded on a first come, first served basis.
“Since the minutes after the Key Bridge collapse, the Moore-Miller Administration has sought to be here for all who are affected. As stewards of economic resilience and community well-being, the Maryland Department of Housing and Community Development is focused on providing support to the small businesses that are affected by the Key Bridge collapse,” said Maryland Department of Housing and Community Development Secretary Jake Day. “Through collaboration with our agency partners, we are dedicated to providing timely assistance to ensure communities and neighborhoods are supported and can continue to contribute to our state’s economy.”
The Department of Commerce’s Port of Baltimore Emergency Business Assistance Program will provide $15 million in grants to businesses that have had operations impacted or shipments disrupted at the Port of Baltimore. To be eligible, businesses must demonstrate economic and financial injury through a reduction in business revenue and activity, and/or increased costs to business operations. Grants of up to $100,000 will be awarded on a first come, first served basis.
“This program offers a critical lifeline to the many businesses that have either experienced a loss of revenue or increased costs to their operations,” said Maryland Department of Commerce Secretary Kevin Anderson. “Together with our fellow state, local and federal partners, our focus remains on ensuring these businesses have the resources and support needed to navigate through this challenging time.”
The Maryland Department of Labor previously opened applications for its $12.5 million Port of Baltimore Worker Retention Program on to provide grants to directly impacted businesses who are at risk of laying off employees to keep those workers on the job, and its $15 million to the Port of Baltimore Worker Support Program to provide temporary financial support to workers at the Port who are ineligible for unemployment insurance benefits.
To learn more about eligibility and to apply for the Neighborhood BusinessWorks grant program or the Neighborhood BusinessWorks loan program, go to dhcd.maryland.gov/KeyBridgeResources.
To learn more about eligibility and to apply for the Port of Baltimore Emergency Business Assistance Program, go to commerce.maryland.gov/fund/port-of-baltimore-emergency-business-assistance-program.
For a comprehensive overview of all PORT Act temporary relief programs and resources, please visit Governor Moore’s FSK Bridge Collapse Response Website.
