Key Bridge Collapse Spurs $5M Small Business Grant Fund
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A $5 million grant program aimed at supporting Baltimore-area small businesses hit hard by the collapse of the Francis Scott Key Bridge launched Aug. 21, marking a new push to rebuild economic stability in the region.
The Maryland Tough Baltimore Strong Key Bridge Small Business Support Grants, announced by the Greater Baltimore Committee and Baltimore Community Foundation, will provide funding to nonprofit organizations working within communities directly impacted by the March 26 bridge collapse.
The initiative is focused on fostering long-term resilience through targeted support for small businesses in affected areas of the city of Baltimore, Baltimore County and Anne Arundel County, the foundation said. Rather than distributing direct cash assistance to businesses, the grants will be awarded to intermediary nonprofits, which will offer technical assistance, operational support and community revitalization efforts.
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“[This] program underscores the critical role of the Key Bridge in America’s infrastructure and the need for a robust response to ensure the economic vitality of the affected communities,” said Mark Anthony Thomas, CEO of the GBC. “The collapse of the Key Bridge shocked the world, and the bridge itself was a pivotal foundation for the success of our regional economy’s global competitiveness.”
Thomas
The Key Bridge, once an artery for commerce in the Baltimore region, served as a connector for industries tied to the Port of Baltimore. Since its collapse, businesses in the surrounding areas have faced service disruptions, with ripple effects likely to continue until reconstruction is complete. The port remains operational.
Eligible uses for the grant funds include hosting small business workshops, enhancing existing improvement programs and making place-based investments in local business districts. Examples include physical improvements to commercial areas, events to draw foot traffic and marketing initiatives. BCF will partner with several regional organizations, including the Maryland Chamber of Commerce and the Baltimore Development Corporation, to oversee the grant review process.
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“In the immediate aftermath of the Key Bridge collapse, the Baltimore Community Foundation focused on providing much-needed funds to support port workers and their families,” said Shanaysha M. Sauls, CEO of BCF. “Now, in collaboration with regional and statewide organizations, we turn our attention to building resilience and creating growth opportunities in the local impacted communities. We are here for these communities for the long haul.”
Nonprofit organizations interested in applying for the grants can submit letters of interest on a rolling basis through BCF’s website. As the program gears up, local leaders emphasize that this initiative represents a long-term commitment to revitalizing the economic health of Baltimore’s hardest-hit communities.
