Project Restore was launched in Maryland on June 28th to help bring back small businesses throughout the state of Maryland. The $25 million initiative will give up to $2,500 a month and up to $250,000 per year in sales tax rebates to small businesses that start operations in a vacant storefront.
Businesses in Tier 1 counties will be eligible to receive the rebate for up to two years while those looking to build in downtown areas will be able to get up to one year of sales tax rebates.
Applicants interested in applying for assistance will be required to remain in the space for at least 12 months and begin new or expanded operations in a storefront that hasn’t generated sales tax receipts for the past six months or more.