Governor Wes Moore today announced $10 million for small business and community development grants through the Maryland Department of Housing and Community Development’s Project Restore 2.0 and Business Boost grant programs. The funding will activate vacant spaces in business corridors, support small businesses with start up or expansion funds, create jobs, and increase local economic activity—all to make Maryland more competitive.
“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,” said Gov. Moore. Together, we will continue to make Maryland more competitive by moving in concert with entrepreneurs and small businesses – not in conflict with them.”
Project Restore 2.0 will provide $8 million to designated Main Streets, Arts and Entertainment Districts and other economic development organizations in a designated Sustainable Community. Grants of up to $300,000 per applicant will go to organizations that have identified priority vacant storefronts or buildings in local business districts. Those organizations would then sub-grant the funding to businesses for rental assistance, renovation and equipment to activate those vacant spaces. Businesses that receive sub-granted funds will have until December 2025 to open and be operational.
Read the rest of the story at Rockville Economic Development, here.
