{"id":11063,"date":"2022-12-07T11:11:08","date_gmt":"2022-12-07T16:11:08","guid":{"rendered":"https:\/\/news.maryland.gov\/dhcd\/?p=11063"},"modified":"2022-12-07T11:11:11","modified_gmt":"2022-12-07T16:11:11","slug":"project-restore-governor-hogan-announces-awards-for-376-businesses-to-revitalize-downtowns-and-main-streets","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2022\/12\/07\/project-restore-governor-hogan-announces-awards-for-376-businesses-to-revitalize-downtowns-and-main-streets\/","title":{"rendered":"Project Restore: Governor Hogan Announces Awards For 376 Businesses to Revitalize Downtowns and Main Streets"},"content":{"rendered":"\n

80% of Awards For Minority-Owned Businesses, More Than 2,500 Jobs Created Overall\u00a0<\/em>Baltimore City Leads Jurisdictions With 104 Awards<\/em><\/p>\n

ANNAPOLIS, MD<\/strong>\u2014Governor Larry Hogan today announced\u00a0awards for 376 businesses<\/a>\u00a0through\u00a0Project Restore<\/a>, an economic recovery initiative that provides financial incentives for small businesses to revitalize vacant retail and commercial spaces. A total of\u00a0376 businesses<\/strong>\u00a0in\u00a0all 23 counties and Baltimore City<\/strong>\u00a0will receive\u00a0$24.5 million<\/strong>\u00a0through the initiative\u2014including\u00a0$8.8 million in property assistance grants<\/strong>\u00a0and\u00a0$15.7 million in business operations grants<\/strong>.<\/p>\n

View the full list of recipients<\/a>.<\/p>\n

\u201cProject Restore has been an incredible success in advancing our mission to make Maryland Open For Business, and today\u2019s awards extend that impact even further in downtowns and on Main Streets across the state,\u201d said Governor Hogan. \u201cWe\u2019re now able to extend the initiative\u2019s impact even further across the state\u2014with just over 80% of this round of grants going to minority-owned businesses\u2014supporting jobs and economic recovery for years to come.\u201d<\/p>\n

\"graphic\"<\/p>\n

Project Restore was launched by the governor last year, and is administered by the Maryland Department of Housing and Community Development (DHCD). Through\u00a0Project Restore<\/a>, the department offers property assistance and operational grants to support startup and expansion costs and incentivize private investment in vacant spaces. In total,\u00a0more than 725 businesses have now been awarded grants through Project Restore.<\/strong><\/p>\n

The latest application round received almost 800 applications. Approximately\u00a02,520 jobs\u00a0<\/strong>will be created by the businesses awarded funding. Of those awarded grants this round,\u00a0301 are minority-owned businesses\u00a0<\/strong>and\u00a0206 of those are women-owned businesses<\/strong>. An additional\u00a020 businesses are veteran-owned businesses<\/strong>. By jurisdiction, the three jurisdictions receiving the most awards are Baltimore City (104), Prince George\u2019s County (37), and Anne Arundel County (30).<\/p>\n

The previously vacant properties will return to active use as:<\/p>\n