Current:Home > StocksMaryland program to help Port of Baltimore businesses retain employees begins -Wealth Axis Pro
Maryland program to help Port of Baltimore businesses retain employees begins
View
Date:2025-04-17 00:25:41
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! (64355)
Related
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- What is a discharge petition? How House lawmakers could force a vote on the Senate-passed foreign aid bill
- A $355 million penalty and business ban: Takeaways from Trump’s New York civil fraud verdict
- Iowa's Caitlin Clark is transformative, just like Michael Jordan once was
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Rents Take A Big Bite
- Missed watching 'The Doomsday Prophet: Truth and Lies' on TV? Here's where to stream it.
- These 56 Presidents’ Day Sales Are the Best We’ve Seen This Year From Anthropologie to Zappos
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Iowa’s Caitlin Clark wants more focus on team during final stretch now that NCAA record is broken
Ranking
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Don't Miss J.Crew’s Jewelry Sale with Chic Statement & Everyday Pieces, Starting at $6
- Eras Tour in Australia: Tracking Taylor Swift's secret songs in Melbourne and Sydney
- Legendary choreographer Fatima Robinson on moving through changes in dance
- Arkansas State Police probe death of woman found after officer
- Anya Taylor-Joy confirms secret 'Dune: Part 2' role: 'A dream come true'
- North Carolina judges say environmental board can end suit while Cooper’s challenge continues
- Trump Media's merger with DWAC gets regulatory nod. Trump could get a stake worth $4 billion.
Recommendation
John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
Could Target launch a membership program? Here's who they would be competing against
Everything you need to know about this year’s Oscars
How to Watch the 2024 People's Choice Awards and Red Carpet
What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
Polar bears stuck on land longer as ice melts, face greater risk of starvation, researchers say
Atlantic Coast Conference asks court to pause or dismiss Florida State’s lawsuit against league
Tinder and Hinge dating apps are designed to addict users, lawsuit claims