Current:Home > InvestMaryland program to help Port of Baltimore businesses retain employees begins -OceanicInvest
Maryland program to help Port of Baltimore businesses retain employees begins
View
Date:2025-04-17 07:05:16
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! (248)
Related
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Neanderthals likely began 'mixing' with modern humans later than previously thought
- Timothée Chalamet makes an electric Bob Dylan: 'A Complete Unknown' review
- Fatal Hougang stabbing: Victim was mum of 3, moved to Singapore to provide for family
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Not sure what to write in your holiday card? These tips can help: Video tutorial
- Trump says Kari Lake will lead Voice of America. He attacked it during his first term
- Elon Musk just gave Nvidia investors one billion reasons to cheer for reported partnership
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- What is Sora? Account creation paused after high demand of AI video generator
Ranking
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Stock market today: Asian stocks are mixed ahead of key US inflation data
- Atmospheric river and potential bomb cyclone bring chaotic winter weather to East Coast
- Making a $1B investment in the US? Trump pledges expedited permits — but there are hurdles
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Fortnite OG is back. Here's what to know about the mode's release, maps and game pass.
- Small plane crashes onto New York highway, killing 1 person and injuring another
- Gas prices set to hit the lowest they've been since 2021, AAA says
Recommendation
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
We can't get excited about 'Kraven the Hunter.' Don't blame superhero fatigue.
Only about 2 in 10 Americans approve of Biden’s pardon of his son Hunter, an AP
Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
Intel's stock did something it hasn't done since 2022
Aaron Taylor
A Malibu wildfire prompts evacuation orders and warnings for 20,000, including Dick Van Dyke, Cher
OCBC chief Helen Wong joins Ho Ching, Jenny Lee on Forbes' 100 most powerful women list