Governor Hogan announces additional economic relief for Marylanders
ANNAPOLIS, Md. – Governor Larry Hogan held a press conference Thursday afternoon to provide an update on COVID-19 in Maryland.
During the press conference, Governor Hogan announced the Maryland Strong: Economic Recovery Initiative, which includes the investment of $250 million from the state’s Rainy Day Fund, making for a total economic relief package of $500 million. This new investigation will fund a combination of new relief programs and an expansion of successful existing relief programs.
$50 million will be used for the third installment of the Maryland Small Business COVID-19 Relief Grant Fund to fully fund the entire backlog of grand applications already received and review by the Maryland Department of Commerce.
Another $50 million will be used for the state’s more than 11,500 restaurants. Funds can be used for working capital, sanitization services, payroll and rent, purchase of PPE, upgraded technology, and infrastructure improvements.
$20 million will be provided through the Maryland Department of Housing to hard-hit business and local entertainment venues through Main Street Maryland organizations as well as Baltimore Main Street programs.
Another $20 million will be used for the state’s COVID-19 Layoff Aversion Fund, which has already helped small businesses with an average of 20 employees stay open and has saved nearly 9,000 jobs across the state.
$5 million will go towards doubling funding for low-interest loans to small and minority businesses. Another $2 million will go to support hometown tourism efforts that promote restaurants and local attractions and shops, while an additional $3 million will go towards doubling the Maryland State Arts Council’s Emergency Grant Program.
Hogan also announced a dedicated emergency rapid response fund of $100 million that will be available to immediately deploy to other areas of economic need as we move forward.
In addition to economic relief efforts, the governor talked about Maryland’s progress towards recovery. He says Maryland is one of just eight states where new cases are low and staying low, and the statewide positivity rate of 3.1% is one of the lowest in the country. We’re told state health officials are closely monitoring an uptick in hospitalizations over the past two weeks, however, hospitalizations are still down 73% from peak, and we have seen a nearly 80% decline in ICU levels since they peaked in May.
Despite the state’s positive metrics, Governor Hogan is reminding citizens that this crisis is far from over, and that everyone should still continue to follow recommended guidelines, including mask wearing and frequent hand washing.
“This has been a very long and difficult year for all of us, but the only way we can continue to make progress is by all of us doing our part and looking out for one another,” Hogan said.
