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 PORT Act, recently signed into law by Governor Wes Moore. The PORT Act creates programs aimed at assisting businesses and workers affected by the collapse of the Francis Scott Key Bridge. Details of these programs, including dates and eligibility criteria, are now available. Please see below for information on the programs administered through three state agencies.
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Port of Baltimore Emergency Business Assistance Program – Administered through the Department of Commerce
Provides grants up to $100,000 to eligible businesses which 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.
Applications Open April 22. See Program Criteria at https://commerce.maryland.gov/fund/port-of-baltimore-emergency-business-assistance-program
Neighborhood Business Works Loans and Grants – Administered through the Department of Housing and Community Development
Loans and grants are available to businesses that have been impacted by a loss of revenue or increased costs. The Small Business Grants Program will offer grants up to $50,000 to small/main street level businesses within a five-mile radius of the Key Bridge and the Business Loan Program will offer loans up to $500,000 to businesses impacted by the Key Bridge collapse or reduction in Port activity statewide.
Applications Open April 22. See Program Criteria at https://dhcd.maryland.gov/Business/Pages/KeyBridge.aspx
Port of Baltimore Worker Retention Program – Administered through the Department of Labor
Entities eligible for up to $200,000 in grant funding include businesses which employ up to 500 workers, unions, trade associations, and organizations that have seen operations hindered by or completely halted due to the Port slowdown. Up to $7,500 can be spent per worker on wages or other support.
Applications Open Now. See Details and Apply at https://labor.maryland.gov/keybridgeresources/portworkerretention.shtml
For more information on the Worker Retention Program, attend the webinar today, April 16, at 3PM.
Webinar Details available at https://www.linkedin.com/posts/maryland-department-of-labor_are-you-a-port-of-baltimore-employer-facing-activity-7185704107041595392-jlfs/
For more resources, visit https://response.maryland.gov/bridge.
If you require additional information, please contact Linda Spence, Business Specialist for the Washington County Department of Business and Economic Development at [email protected].
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