ANNAPOLIS, M.d. — Governor Hogan announced the first round of Project Restore recipients, with 144 businesses receiving a total of $10.8 million.

Project Restore is a $25 million economic recovery initiative to support small businesses while revitalizing vacant retail and commercial spaces.

READ MORE: Memorial Service Scheduled For Baltimore Firefighters Killed In Collapse

Winners will receive funds over the course of the next two years, with $3.6 in rental subsidies and $7.2 million in business operations grants.

READ MORE: Maryland Weather: Gov. Hogan Declares State Of Emergency In Eastern Shore Counties Ahead Of Winter Storm

“Despite the unprecedented challenges caused by the worst global pandemic in more than a century, the entire mission of our state government continues to be keeping Maryland open for business,” Gov. Hogan said. “Project Restore is allowing us to drive further investment to our communities, revive our towns, and support jobs and economic recovery.”

Project Restore launched earlier in 2021 and is expected to continue with a second round of applicant winners in early 2022.

MORE NEWS: Anne Arundel County Schools To Award $1,000 Bonuses To Permanent Full-Time Employees

Project Restore is one of many initiatives in Maryland’s recovery from the pandemic, and it’s playing a key role in the revitalization of business and commercial areas in our communities,” Kenneth C. Holt, DHCD Secretary said. “Our department is administering nearly $2 billion in pandemic relief assistance to businesses, nonprofits, entertainment and tourist venues, renters, and homeowners.”

CBS Baltimore Staff