Current:Home > StocksMaryland program to help Port of Baltimore businesses retain employees begins -FutureWise Finance
Maryland program to help Port of Baltimore businesses retain employees begins
View
Date:2025-04-17 06:00:25
ANNAPOLIS, Md. (AP) — Maryland Gov. Wes Moore announced on Friday the start of a program to help Port of Baltimore businesses retain employees in the aftermath of the Francis Scott Key Bridge collapse.
The $12.5 million program aims to prevent layoffs while recovery work continues. The program was created by executive order and authorized by emergency legislation the governor signed on Tuesday.
“We must do everything in our power to support the 8,000 Port workers whose jobs have been directly affected by the collapse of the Key Bridge — and the thousands more who have been touched by this crisis,” Moore, a Democrat, said in a news release.
The program is being run by the state’s labor department.
“The Worker Retention Program will keep Port businesses in operation and workers able to earn income and support their families as the U.S. Army Corps and others work to get the shipping channels reopened,” said Maryland Secretary of Labor Portia Wu.
Under the program, entities eligible for up to $200,000 in grants include businesses that employ up to 500 workers, unions, trade associations, and organizations that have had operations hindered or completely halted by the port slowdown.
Up to $7,500 can be spent per worker on wages or other support.
Businesses that receive funding under the program must demonstrate an effort to the fullest extent to avoid layoffs and maintain workforce hours, rates of pay, and benefits that were in effect before the port’s reduced operations.
Allowable expenses include supportive services for workers, such as subsidizing child care and transportation costs as well as payroll expenses as part of participation in the Work Sharing Unemployment Insurance Program.
The governor’s office said other relief programs that were authorized by the legislation signed into law this week will start on April 22.
One of them provides grants of up to $100,000 to eligible businesses that have had operations impacted or shipments disrupted at the port. To be eligible, businesses must demonstrate economic and financial injury through a reduction in business revenue and activity, or increased costs to business operations.
The Department of Commerce: Port of Baltimore Emergency Business Assistance Program will begin accepting applications.
Another program will make a total of $15 million in loans and grants available to businesses that have been affected by a loss of revenue or increased costs, under the Neighborhood BusinessWorks program administered by the Maryland Department of Housing and Community Development.
The Small Business Grants Program will have $5 million to offer grants up to $50,000 to small businesses within a 5-mile radius of the Key Bridge, and the Business Loan Program will have $10 million to offer loans up to $500,000 to businesses impacted by the Key Bridge collapse or reduction in Port activity statewide.
The container ship Dali was leaving Baltimore, laden with cargo and headed for Sri Lanka, when it struck one of the bridge’s supporting columns last month, causing the span to collapse into the Patapsco River. Six members of a roadwork crew were killed.
veryGood! (1757)
Related
- A South Texas lawmaker’s 15
- Dolly Parton's first-ever rock 'n' roll album addresses global issues: I didn't think of that as political
- Tanker truck carrying jet fuel strikes 2 cars on Pennsylvania Turnpike, killing 2, injuring 1
- The Vampire Diaries' Kat Graham Marries Bryant Wood in Surprise Ceremony
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Roomba Flash Deal: Save $500 on the Wireless iRobot Roomba s9+ Self-Empty Vacuum
- Keep Your Summer Glow and Save 54% On St. Tropez Express Self-Tanning Mousse
- Judge temporarily blocks Tennessee city from enforcing ban on drag performances on public property
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Powerful gusts over Cape Cod as New Englanders deal with another washed-out weekend
Ranking
- A South Texas lawmaker’s 15
- 5 dead and 5 injured — names on a scrap of paper show impact of Gaza war on a US family
- Reactions to the death of Bobby Charlton, former England soccer great, at the age of 86
- ‘Oppenheimer’ fanfare likely to fuel record attendance at New Mexico’s Trinity atomic bomb test site
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- John Legend says he sees his father in himself as his family grows: I'm definitely my dad's son
- Supreme Court pauses limits on Biden administration's contact with social media firms, agrees to take up case
- California Gov. Gavin Newsom is traveling to China to talk climate change
Recommendation
Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
You're Going to Want to Read Every Last One of Kim Kardashian's Wild Sex Confessions
Coyotes' Travis Dermott defies NHL ban on Pride Tape; league to review 'in due course'
Michigan State shows Hitler’s image on videoboards in pregame quiz before loss to No. 2 Michigan
The Daily Money: Spending more on holiday travel?
Vanna White Shares Rare Photo With Boyfriend John Donaldson
Why children of married parents do better, but America is moving the other way
Why we love the three generations of booksellers at Happy Medium Books Cafe