Governor Moore Announces $750,000 Federal Funding for Maryland Small Businesses

Governor Wes Moore announced that Maryland's Commerce Department received a $750,000 grant from the U.S. Small Business Administration. This grant aims to expand the state's international outreach, assist businesses in job creation, and facilitate access to foreign markets. It represents the largest award ever granted to the department under the State Trade Expansion Program, which bolsters participation in foreign trade shows within specific industry sectors and supports Maryland's ExportMD program.

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“Maryland’s economy will grow and thrive when our small businesses have more opportunities to succeed,” said Gov. Moore. “We thank the U.S. Small Business Administration for their support in expanding Maryland’s global economic reach. This record funding represents boundless possibilities.”

The next application deadline for the ExportMD program is November 1. Eligibility requirements are available on the Maryland Department of Commerce website.

“The U.S. Small Business Administration continues to be a strong advocate for Maryland’s international efforts, having awarded this funding to our agency for over a decade,” said Maryland Department of Commerce Secretary Kevin Anderson. “Our team is hitting the road with the Maryland Partners in International Trade alliance to provide in-person outreach on available exporting programs—this will ensure our programs are reaching businesses in every region of Maryland and make sure everyone knows that opportunities for global expansion exist.”

Maryland’s Office of International Investment and Trade stimulates foreign direct investment in the state, offers export assistance, and coordinates international trade and investment missions and trade show opportunities for Maryland companies. The state has 19 foreign trade offices.

To view the list of ExportMD grant recipients for 2023 up to the current date, you can find it here.

Share your thoughts

What are your thoughts on the Maryland Department of Commerce's efforts to support small businesses through international expansion? Do you think these grants will significantly benefit local businesses and the state's economy? Share your thoughts and opinions in the comments below.

Disclaimer: This article is only for informational & educational purposes.