Multi-million dollar initiative gives support to small businesses impacted by Key Bridge collapse
BALTIMORE -- The Greater Baltimore Committee and the Baltimore Community Foundation announced a multi-million dollar initiative to provide support grants to small businesses impacted by the collapse of the Francis Scott Key Bridge.
The bridge served as a vital artery for commerce, linking multiple counties and supporting global economic activity.
While the reopening of the Port of Baltimore has brought some shipping operations back to the area, the impacts are still being felt across the region.
"It impacted the community that depended on businesses that serve the port," said Mark Anthony Thomas, CEO of the Greater Baltimore Committee. "The Key Bridge is critical infrastructure that so many of the businesses depend on to be successful."
The "Maryland Tough, Baltimore Strong Key Bridge Support Grants" are aimed at supporting the small businesses that were impacted by the bridge collapse.
"They are the backbone of many communities," said Dr. Crystal Harden-Lindsey, the Vice President of Community Impact at the Baltimore Community Foundation. "The small businesses come into neighborhoods and support when big business can't. They often have a different understanding of the community and they understand the complexities."
The $5 million grant program will help stimulate economic growth through technical assistance and place-based investments.
"It was only fitting that we go in and make sure that they feel supported and to elevate any burdens or economic disruptions that they have experienced based on the collapse of the Key Bridge," Harden-Lindsey said.
Grants will be awarded to nonprofit organizations planning or already working to improve local businesses in the community. The goal is to foster long-term resilience and stability.
"We are with them for the long-term and this type of investment, which is about building long-term vitality of the commercial industry, that this grant and partnership is a major investment toward that success," Thomas said.
Letters of interest are now being accepted on a rolling basis.