ANNAPOLIS, Md. (WJZ) — Governor Larry Hogan on Monday announced Project Restore, which will provide $25 million in economic incentives to businesses and developers to revitalize empty storefronts across the state.
The project will offer eligible new businesses rental grants and sales tax relief to help offset some startup costs. Small businesses with 50 or fewer employees will be eligible for even more benefits.
“Project Restore will help put more ‘open for business’ signs in storefront windows, create thousands of jobs, and transform neighborhoods and communities,” said Governor Hogan. “This initiative is just one more shining example of how we aren’t just committed to fully recovering from this pandemic, we are committed to coming back stronger and better than ever before.”
Qualified businesses must begin new or expanded operations in a space that has not been generating sales tax receipts for the last six months. For more information on Project Restore, click here.