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“Nationals October 2019

Annapolis businesses receive nearly $1M from Anne Arundel Economic Development Corporation to help with reopening

| July 19, 2020, 01:37 PM

Rams Head

Businesses in the City of Annapolis received nearly $1 million in Customer and Employee Protection (CEP) grants from Anne Arundel Economic Development Corporation (AAEDC). The funding went to a total of 142 businesses in the City.

The grants, up to $10,000 per business, were heavily promoted to area businesses through the City’s Small Business Recovery Task Force during industry specific “Town Hall” virtual calls and through the City’s Office of Economic Development newsletters.

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Rams Head

Mayor Gavin Buckley said that it was important for the City to play a role in connecting businesses to funding sources while struggling to survive during the COVID-19 State of Emergency.

“We not only wanted to find creative ways for businesses to be successful in reopening, we wanted them to have ready access to capital to help them meet the new demands of their new business models,” Buckley said. “We thank and recognize Anne Arundel County’s strong support for Annapolis businesses through this line of funding and the AAEDC’s staff.”

Office of Economic Development Manager Stephen Rice said that the businesses on the list include everything from health services to leisure and hospitality. A total of $959,644 was paid out in grants.

“It’s great to see that Annapolis-based businesses have been able to successfully access this grant program because we worked hard to get the word out,” Rice said. “I think the data shows our efforts were successful.  We are very appreciative of our colleagues at AAEDC for managing an efficient and effective process that has enabled many Annapolis businesses to access desperately needed capital.”

The grant funding is supported with $5 million from the federal CARES Act. The allocation of grants is managed by the AAEDC. Grant applications opened in mid-May and covered PPE for employees, sanitation products like disinfection lamps and biocide bombers, signage, technology, delivery vehicles and equipment, legal and HR experts and workforce training. Eligible businesses had to be in good standing with the State of Maryland and have fewer than 50 employees.

The period to submit grant applications remains open. For more information, visit: www.aaedc.org/business/financing-and-tax-credits/small-business-customer-employee-protection-grant/

Rams Head

Category: Annapolis Gives, Businesses, COVID, LIFE IN THE AREA, Local News, NEWS

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