Small businesses and economic development organizations have the chance to receive a big financial boost thanks to $10 million in grants announced by Gov. Wes Moore through the Maryland Department of Housing and Community Development (DHCD).
The grants are part of DHCD’s Project Restore 2.0 and Business Boost programs. The funding is meant to enliven vacant spaces in business corridors, give small businesses start up or expansion money, create jobs, and boost local economic activity.
“When storefronts close down, our entire state feels it. Now is the time to work in partnership with the private sector to revitalize our business districts, and that’s what this grant funding is about,” Moore said in a statement. “Together, we will continue to make Maryland more competitive by moving in concert with entrepreneurs and small businesses – not in conflict with them.”
Main Streets, Arts and Entertainment Districts, and other economic development organizations will receive $8 million from Project Restore 2.0. “Grants of up to $300,000 per applicant will go to organizations that have identified priority vacant storefronts or buildings in local business districts,” reads the press release announcing the funding. “Those organizations would then sub-grant the funding to businesses for rental assistance, renovation and equipment to activate those vacant spaces.” Businesses receiving sub-granted funds will need to be open and operational by December 2025.
Click here to read the rest of the article written by Aliza Worthington over at Baltimore Fishbowl
