Over $24 million in grant funding announced to aid Maryland businesses

BALTIMORE - Governor Hogan announced $24.5 million in grants Wednesday for state businesses.  

The grant funding is provided through an initiative known as Project Restore, which aims to aid in the nation's economic recovery.

The $24.5 million, which includes $8.8 million in property assistance grants, and 15.7 million in business operations grants, will be distributed among 375 businesses.

This program's goal is to encourage local companies to occupy abandoned storefronts and office buildings by offering renovation grants.

"Project Restore has been an incredible success in advancing our mission to make Maryland Open For Business, and today's awards extend that impact even further in downtowns and on Main Streets across the state," the Governor said Wednesday.  

The governor said this round of grant funding will create approximately 2,520 jobs, and will help minority owned businesses.  

"We're now able to extend the initiative's impact even further across the state—with just over 80% of this round of grants going to minority-owned businesses—supporting jobs and economic recovery for years to come."

The initiative was launched by the governor last year, and is administered by the Maryland Department of Housing and Community Development.  

For a full list of the businesses that received funding, you can visit the DHCD website.