{"id":10383,"date":"2021-08-27T11:44:04","date_gmt":"2021-08-27T15:44:04","guid":{"rendered":"https:\/\/news.maryland.gov\/dhcd\/?p=10383"},"modified":"2021-08-27T11:43:18","modified_gmt":"2021-08-27T15:43:18","slug":"governor-hogan-announces-additional-opportunity-zone-investment-to-support-marylands-continued-economic-recovery","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2021\/08\/27\/governor-hogan-announces-additional-opportunity-zone-investment-to-support-marylands-continued-economic-recovery\/","title":{"rendered":"Governor Hogan Announces Additional Opportunity Zone Investment to Support Maryland\u2019s Continued Economic Recovery"},"content":{"rendered":"\n

Governor Hogan Announces Additional Opportunity Zone Investment to Support Maryland\u2019s
Continued Economic Recovery
<\/strong>Seven Manufacturing and Retail Businesses Receive Funding to Expand<\/em>
<\/strong><\/p>\n

ANNAPOLIS, MD<\/strong> (August 27, 2021) \u2014 <\/span>Governor Larry Hogan today announced that seven manufacturing and retail businesses will receive $500,000 to expand and grow in Maryland Opportunity Zones, which are designated communities that are eligible for federal capital gains tax incentives.<\/p>\n

\u201cOur state has been working hard to supercharge investment and make Maryland\u2019s 149 Opportunity Zones the most competitive ones in America,\u201d said Governor Hogan.\u00a0\u201cMaryland Opportunity Zone funds have already received more than\u00a0$333 million of equity investments, and we continue to see expansion of businesses, new jobs, and much-needed affordable housing in these areas.\u201d<\/p>\n

Today\u2019s announcement is the second round of awards made through the Maryland Department of Housing and Community Development\u2019s Neighborhood BusinessWorks Program. The\u00a0first round of grants<\/a>\u00a0was awarded in January 2021.\u00a0<\/p>\n

Tenth Ward Distillery, a woman-owned operation located in Frederick, received an award and was able to expand during the COVID-19 pandemic. Like many distilleries across the country, Pearce\u2019s business chose to pivot from spirits and canned cocktails production to simple surface disinfectants, many of which were donated to front line workers and businesses within the community.<\/p>\n

\u201cThe grant is the only way we were able to afford to move during the COVID-19 pandemic since we suffered major financial losses,\u201d said founder Monica Pearce. \u201cWe can’t thank the state enough for this opportunity. I can personally attest that it’s provided a boost both for Tenth Ward and hopefully the local economy as well.\u201d<\/p>\n

Distillery staffers recently welcomed Lt. Governor Boyd K. Rutherford for a tour of the newly expanded space they purchased with their grant funding. With the award, the Tenth Ward Distillery was able to cover the cost to build out the new space, relocate, connect and install the equipment, and add three new employees.<\/p>\n

\u201cI was very impressed to see and hear how these microgrants were able to make a profound impact for this business, which gave back to the local community during the pandemic,\u201d said Lt. Governor Rutherford. \u201cThe award kept their doors open, and it allowed them to expand during a very uncertain time.\u201d<\/p>\n

Awardees for the second round of microgrants, subject to local jurisdiction approval, are:<\/p>\n

\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n
\n

Jurisdiction<\/strong><\/p>\n<\/td>\n

\n

Awardee<\/strong><\/p>\n<\/td>\n

\n

Amount<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Allegany<\/p>\n<\/td>\n

\n

Aeon Technologies<\/p>\n<\/td>\n

\n

$80,400.00<\/p>\n<\/td>\n<\/tr>\n

\n

Baltimore City<\/p>\n<\/td>\n

\n

Zest Tea, LLC<\/p>\n<\/td>\n

\n

$100,000.00<\/p>\n<\/td>\n<\/tr>\n

\n

Charles<\/p>\n<\/td>\n

\n

Discovery Lane, LLC<\/p>\n<\/td>\n

\n

$70,000.00<\/p>\n<\/td>\n<\/tr>\n

\n

Kent<\/p>\n<\/td>\n

\n

Twigs and Teacups Chestertown LLC<\/p>\n<\/td>\n

\n

$100,000.00<\/p>\n<\/td>\n<\/tr>\n

\n

Washington<\/p>\n<\/td>\n

\n

Crist Instrument Co Inc.<\/p>\n<\/td>\n

\n

$50,000.00<\/p>\n<\/td>\n<\/tr>\n

\n

Wicomico<\/p>\n<\/td>\n

\n

Mason-Dixon Machining, Inc.<\/p>\n<\/td>\n

\n

$50,000.00<\/p>\n<\/td>\n<\/tr>\n

\n

Wicomico<\/p>\n<\/td>\n

\n

Quality Staffing Services, Inc.<\/p>\n<\/td>\n

\n

$49,600.00<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

For more information on Opportunity Zones in Maryland, visit\u00a0dhcd.maryland.gov\/OpportunityZones<\/a>. For more information on the Neighborhood BusinessWorks program, visit\u00a0dhcd.maryland.gov\/Business<\/a>.<\/p>\n

\n
\n

# # #<\/p>\n

MEDIA CONTACTS:<\/p>\n

Sara Luell, Director of Public Information
sara.luell@maryland.gov<\/a><\/p>\n

Emily Allen Lucht, Director of Communications
emily.lucht@maryland.gov<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Governor Hogan Announces Additional Opportunity Zone Investment to Support Maryland\u2019s Continued Economic RecoverySeven Manufacturing and Retail Businesses Receive Funding to Expand ANNAPOLIS, MD (August 27, 2021) \u2014 Governor Larry Hogan today announced that seven manufacturing and retail businesses will receive $500,000 to expand and grow in Maryland Opportunity Zones, which are designated communities that are  Read the Rest…<\/a><\/p>\n","protected":false},"author":119,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[46,25,178,33,28],"tags":[],"class_list":["post-10383","post","type-post","status-publish","format-standard","hentry","category-governor-hogan","category-neighborhood-businessworks","category-opportunity-zones","category-press-releases","category-small-business-development"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/119"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=10383"}],"version-history":[{"count":2,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10383\/revisions"}],"predecessor-version":[{"id":10385,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10383\/revisions\/10385"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=10383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=10383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=10383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}