ANNAPOLIS, Md. (WDVM) — In an effort to continue to help Maryland businesses recover from the pandemic, Governor Larry Hogan announced the launch of a new $25 million economic revitalization initiative that he calls “transformative.”
“Project Restore” will provide financial incentives for small business and commercial developers to revitalize vacant retail and commercial space. If you are a small business that starts operation in a vacant storefront this new program will provide you up to one year in rental subsidies to help offset startup costs. Or if you are an investor developer this will provide one year of sales tax rebates.
Hogan says this project will put more open for business signs in storefront windows, create thousands of jobs, and transform communities.
“Project Restore will help drive even more investment into these communities” said Hogan. “It’s also a smart and innovative way to use federal relief funds to revitalize our towns to support jobs and economic recovery.”
For more information on Project Restore, click here.