It has been a little over a week since the Francis Scott Key Bridge, which carries Interstate 695 over the Patapsco River, tragically collapsed after being struck by a cargo ship. As a major transportation & shipping route, the disaster’s impact is far-reaching — including to our Frederick business community.
Frederick’s Economic Development partners have begun reaching out to local businesses affected by the disruption at the port. We will continue to provide information and resources as it becomes available.
Here is what we know to date:
Gov. Wes Moore issued an executive order declaring a State of Emergency
Official Response Website is: www.keybridgeresponse2024.com
The Maryland Transportation Authority has set up a page on its website with information about the transportation complications and detours suggested to mitigate delays. This website can be found here: https://mdta.maryland.gov/keybridgenews
US DOT has made $60 M available immediately in Emergency Relief “The Emergency Relief funding announced today provides an initial down payment of funds to help Maryland manage ongoing disruptions to traffic, supply chains, and daily life…”
There is presently no predicted time line for channel clearing/port opening. The Governor has been quoted as saying this will not be days or weeks.
In 2023 MDOT Economic Impact Study estimated that approximately 51,365 jobs, $16.2 billion in personal income, and $63 billion in business revenues are affected by the port closure.
This tragedy affects every corner of the state and region, from farmers to manufacturers to auto dealers – including here in Frederick.
We have a list of 66 businesses (city/county) which have or are using the Port directly to export/import products. The Department of Economic Development will be reaching out to each city business to learn more about the impact to local businesses.
SBA has established a Business Resource Center established in Dundalk to help small businesses access loans of up to $2 million that are available at 4% over a period of 30 years with a grace period during the first year. Applications should be submitted online at lending.sba.gov by Dec. 30, 2024.
The Maryland Department of Labor has created an unemployment insurance hotline for workers affected by the collapse. Impacted workers can call 667-930-5989 from 8am - 5pm, Monday-Friday, or file online in BEACON: beacon.labor.maryland.gov/beacon/claimant-page.html.
The Maryland Emergency Management Agency runs the Private Sector Integration Program (PSIP). Its mission is "incorporating the private sector into the emergency management framework to provide a voice to the business community during emergencies and increase information sharing between the private and public sectors." Businesses can sign up to participate in PSIP here: https://mdem.maryland.gov/Pages/psip.aspx . Presently, PSIP holds daily briefings on the Bridge and Port situation.
The Maryland Chamber of Commerce has started "Building Bridges to Recovery" where they will share the most up to date information for business resources: https://www.mdchamber.org/business-resources-hub/
If you or a business you know has been impacted by the recent disaster, please contact our office at business@cityoffrederickmd.gov to review any potential programs or available resources.