Financial Support Initiated by Governor Moore for Key Bridge Collapse Recovery

On Friday, Governor Wes Moore issued an executive order directing $60 million in immediate temporary economic help to businesses and workers affected by the Francis Scott Key Bridge collapse.

According to the news release: The executive order allows the Department of Commerce and the Department of Labor to begin planning for the efficient implementation of the business and worker relief programs under the Maryland Protecting Opportunities and Regional Trade (PORT) Act; authorizes the Department of Housing and Community Development to use existing funds to provide grants and loans to businesses; and directs state agencies to identify potential funds and existing p

“The Port of Baltimore is one of our state’s vital economic organs and the thousands of workers and businesses that depend on Port operations have been directly impacted by the Key Bridge collapse,” Moore said in a statement. ”

As we work as quickly – and as safely – as possible to clear the debris and open the commercial shipping channels, we are working in partnership with our partners at the local and federal levels of government, private sector, nonprofit sector, and philanthropic sector to respond to this economic crisis with the urgency that it deserves.”

The Governor’s Executive Order allocates $25 million from the Rainy Day Fund and $35 million from existing agency budgets. In addition to the Executive Order:

Directs the Departments of Commerce and Labor to legally establish the programs outlined in the PORT Act so that the agencies can begin building them. According to the Executive Order, these programs cannot be institutionalized until the PORT Act is enacted.

directs the following expenses.

• The Port of Baltimore will receive $15 million from the Department of Commerce’s Emergency Business Assistance Program, $12.5 million from the Department of Labor’s Worker Retention Program, and $15 million from the Port of Baltimore Worker Su. Directs $15 million to the Department of Housing and Community
• Development’s Neighborhood BusinessWorks program to give grants and low-interest loans to qualified firms that have suffered revenue losses or cost increases as a result of the Key Bridge collapse.
  Directs the Governor’s Office of Small, Minority, and Women’s Business Affairs to offer technical help to affected enterprises seeking state and federal business aid.
• Directs the Department of Health and Human Services to identify services and initiatives that can be used to assist displaced workers and affected businesses.

Directs the Maryland State Department of Education to identify resources and initiatives, including child care, that can be deployed to assist displaced workers.

Directs the Department of Service and Civic Innovation to find possibilities for Maryland Corps, the Service Year Option Program, and other DSCI programs to help the Greater Baltimore region recover.