Casino Funds For Minority Business Yet To Be Sent
BALTIMORE (AP) — Maryland has yet to distribute $3.6 million that was set aside from slot machine revenue for small businesses owned by minorities and women.
The Baltimore Sun reports that critics say the process is moving too slowly. They say the money is needed because the credit market is still tight for small businesses.
State officials say that the delay is due to logistical difficulties. Department of Business and Economic Development Secretary Christian Johansson says officials hope to award the first business grants from the slot machine revenue toward the end of the year.
The state’s slot machine program, approved by voters in 2008, sets aside 1.5 percent of the revenue from slots to benefit small minority-owned businesses.
(Copyright 2012 by The Associated Press. All Rights Reserved.)