MD Announces $10M in Grants to Boost Small Businesses and Community Development in Counties

Shantelle Malcolm-Lym

February 22

Governor Wes Moore announced $10 million in grants through the Maryland Department of Housing and Community Development's Project Restore 2.0

and Business Boost programs.

These grants aim to revitalize business corridors, support small businesses, create jobs, and boost local economic activity. Project Restore 2.0 will provide $8 million to designated Main Streets, Arts and Entertainment Districts, and other economic development organizations in designated Sustainable Communities. The grants, up to $300,000 per applicant, will go to organizations that have identified priority vacant storefronts or buildings in local business districts.

Secretary Jake Day highlighted the impact of these grants, stating, "By strengthening the successful Project Restore grants to fill storefronts on Maryland main streets and launching Business Boost, we are building on what we know to be the best way to help grow Maryland communities' economies: from the center out, empowering locally-owned businesses, and bringing life back to vacant storefronts."

With an initial $2 million, Business Boost will award grants directly to eligible small business owners, ranging from $20,000 to $50,000. Preference will be given to home-based businesses, designated as Minority Business Enterprises, that are innovative, focused on regional strengths, or leveraging partnerships with school districts or other education institutions in Maryland.

Applications for both programs will open on March 13. For more information, visit the Maryland Department of Housing and Community Development.

See the full press release for more details.