Van Hollen, Cardin Announce Key Committee Passage of Over $14 Million for Maryland Initiatives Supporting Small Business and Entrepreneurship

August 09, 2024

Van Hollen, Cardin Announce Key Committee Passage of Over $14 Million for Maryland Initiatives Supporting Small Business and Entrepreneurship

Van Hollen, Cardin submitted funding requests on behalf of Maryland non-profit organizations Bill also includes $375 Million for New FBI HQ in Greenbelt

Today, U.S. Senator Chris Van Hollen, a member of the Senate Appropriations Committee and Chairman of the Subcommittee on Financial Services and General Government (FSGG), and Senator Ben Cardin, a member of the Senate Small Business and Entrepreneurship Committee (both D-Md.), announced the inclusion of $14,111,000 in key Senate Committee legislation providing direct federal funding for community-led projects that aim to boost small business throughout Maryland. These community projects, funded at the Senators' request, are within Senator Van Hollen's Appropriations FSGG Subcommittee proposed funding legislation for fiscal year 2025. This subcommittee legislation, released as part of the annual Congressional Appropriations process and approved August 1 in a bipartisan vote by the full Senate Appropriations Committee, will proceed to consideration before the full Senate. Funding is not finalized until the Appropriations bills are passed by the full Senate, reconciled with the House of Representatives, and signed by the President.

In addition to the funding they secured for local community projects, thelegislation includes $375 million for the construction of the new FBI headquarters, which will be located in Greenbelt, Maryland.

"When we invest federal dollars in our communities, we're able to directly support local priorities. These funds will enable our non-profit partners across Maryland to empower entrepreneurs and small business owners from a wide array of backgrounds to grow their businesses and succeed. Within this bill, we also secured critical federal dollars to advance statewide priorities such as building out our broadband infrastructure, combatting the opioid crisis, and building the new FBI headquarters in Prince George's County. We'll keep working to deliver these investments to build an even stronger Maryland for all," said Senator Van Hollen.

"Workforce development opportunity creates a strong economy; supporting Maryland's workers and small business owners remains a top priority. This bill makes federal investments across a wide range of areas, including the construction of the new FBI Headquarters, entrepreneurship training programs, woman and minority-owned small businesses, and archival projects to preserve Maryland history. This federal funding represents Team Maryland's continued investment in community-led programs that bring greater resources to every corner of the state and improve the quality of life for all Marylanders," said Senator Cardin.

These projects were included in the Senate Appropriations FSGG FY2025 funding legislation.

Project Name: Adaptive Growth through Innovative Leadership Exchange
Applicant: Leadership Montgomery
Project Purpose: Funds will be used to support leadership training for small business professionals to improve their long-term success and growth within the county.
Project Location: Montgomery County
Amount Included: $478,000

Project Name: B'More Secure-Community Cyber Clinic
Applicant: Towson University
Project Purpose: Funds will be used to provide cyber security training for small businesses and work towards creating a practical and sustainable educational model that can be replicated throughout the State of Maryland.
Project Location: Baltimore County
Amount Included: $1,600,000

Project Name: Disadvantaged Small Business Legal Training and Data Collection
Applicant: Minority Business Enterprise Legal Defense and Education Fund (MBELDEF)
Project Purpose: Funds will be used to provide legal training to disadvantaged and minority-owned businesses as they continue to create jobs and spur economic growth in their communities.
Project Location: Statewide
Amount Included: $406,000

Project Name: Early Care and Education HUBs
Applicant: Maryland State Department of Education (MSDE)
Project Purpose: Funds will be used to provide technical assistance, training, and business support to child care providers in order to help meet the growing needs of children and families across Maryland.
Project Location: Baltimore City
Amount Included: $1,000,000

Project Name: Economic Empowerment and Innovation Center
Applicant: Kingdom Global Community Development Corporation
Project Purpose: Funds will be used to provide technical assistance and help foster small business growth from inception to launch and scalability. The program will also support mentorship opportunities connecting new entrepreneurs and established local small businesses.
Project Location: Prince George's County
Amount Included: $1,342,000

Project Name: Level Up Program
Applicant: FSC FIRST
Project Purpose: Funds will be used to provide technical assistance to small and minority-owned businesses to support their growth by improving access to capital, training opportunities, and mentoring - helping them "level up" and succeed.
Project Location: Prince George's County
Amount Included: $500,000

Project Name: Maryland Growing Opportunities for Family Child Care
Applicant: Maryland Family Network
Project Purpose: Funds will be used to provide targeted support for individuals aspiring to open licensed family child care programs, including training, coaching, and support services to help reverse a statewide and national decline in family child care providers.
Project Location: Baltimore City
Amount Included: $1,000,000

Project Name: Maryland Women's Business Center (MWBC) Shop Local
Applicant: Rockville Economic Development, Inc. (REDI) host of the Maryland Women's Business Center (MWBC)
Project Purpose: Funds will be used to support women entrepreneurs and small business owners in retail and small-scale manufacturing, providing their early-stage ventures with business incubation and financial assistance.
Project Location: Montgomery County
Amount Included: $777,000

Project Name: Minority Entrepreneurship Training Accelerator (META)
Applicant: Upper Shore Community Development Partners
Project Purpose: Funds will be used to support minority entrepreneurs through information sharing and mentoring to spur local business growth and job creation.
Project Location: Kent County
Amount Included: $148,000

Project Name: Pathways to Economic Empowerment for Unserved and Underserved Communities Initiative
Applicant: The Collective Empowerment Group, Inc.
Project Purpose: Funds will be used to provide educational and entrepreneurship training as tools of economic empowerment to reduce the racial wealth gap in underserved communities.
Project Location: Prince George's County
Amount Included: $335,000

Project Name: Princess Anne Center for Entrepreneurship
Applicant: University of Maryland Eastern Shore
Project Purpose: Funds will be used to support startup entrepreneurs in any phase of product development through a competency-based curriculum.
Project Location: Somerset County
Amount Included: $2,300,000

Project Name: Social Impact Initiative for New Americans
Applicant: Health Tech Alley
Project Purpose: Funds will be used to provide training and workshops in entrepreneurship, small business formation, financial literacy, and business technology for new Americans and English language learners.
Project Location: Howard County
Amount Included: $275,000

Project Name: Uncovering Our Past, Transforming Our Future
Applicant: St. John's College
Project Purpose: Funds will be used to identify, digitize, and curate documents, particularly those reflecting historic racial injustices in Annapolis, Maryland. A website will also be launched to build public awareness of this history.
Project Location: Anne Arundel County
Amount Included: $1,700,000

Project Name: United for Child Care Shared Services Hub
Applicant: The United Way of Central Maryland, Inc.
Project Purpose: Funds will be used to pilot a new shared services hub for small businesses providing family child care services in Maryland out of their homes with few employees. Hubs like this work cooperatively to share costs and deliver services in a streamlined and efficient way for these licensed providers.
Project Location: Howard County
Amount Included: $250,000

Project Name: Veteran Institute for Procurement: VETS to WIN
Applicant: Veteran Institute for Procurement
Project Purpose: Funds will be used to support training courses and expand curriculum offerings for veteran small business owners to support their continued success and also to help open new doors of opportunity.
Project Location: Montgomery County
Amount Included: $2,000,000

Additional priorities secured by the Senators in the FY25 Financial Services and General Government funding bill include:

Department of the Treasury: The bill provides $2 billion, a $160 million increase over FY24, for the Department of the Treasury (not including the Internal Revenue Service) to carry out its wide-ranging responsibilities strengthening and protecting our economy, combatting illegal money laundering, regulating our banks, and safeguarding the financial system against abuse by illicit actors. These investments will maintain Treasury's ability to craft, implement, and enforce sanctions, including the historic sanctions program targeting Russia's illegal war in Ukraine.

Community Development Financial Institutions (CDFI) Fund: The bill provides $354 million for the CDFI Fund, a $30 million or 9.3 percent increase over FY24, to generate economic growth and provide access to credit and technical assistance to underserved communities across the country.

Small Business Administration (SBA): The bill includes $1.6 billion for the Small Business Administration - a $61 million increase in base funding for SBA over fiscal year 2024 - to support small businesses across America and connect them with the resources they need to thrive. This includes $330 million for SBA's Entrepreneurial Development Programs, a $13 million or 4 percent increase over FY24, to help small businesses establish themselves, grow, and compete.

Internal Revenue Service (IRS): The bill provides $12.3 billion - sustaining the FY24 funding level - for the IRS to carry out its responsibilities and continue its work to significantly improve customer service, replace its antiquated computer systems, and ensure that everyone - especially the top 1 percent and largest corporations - pay their fair share in taxes.

Federal Communications Commission (FCC): The bill provides $448 million - a $57.8 million increase above FY24 - for the FCC, which includes resources to support its critical work connecting people across the country to high-speed internet and ensuring all Americans have equitable access to essential technology.

Federal Trade Commission (FTC): The bill provides $450 million - a $24.3 million increase over FY24 - for the FTC, which plays a vital role in protecting Americans from consumer fraud and unfair and anticompetitive practices.

Election Security: The bill includes $75 million - a $20 million increase over FY24 - for Election Security Grants for states and U.S. territories to improve the administrations of federal elections, upgrade voting equipment, make security enhancements, and protect Americans' right to have their vote counted in free and fair elections.

Office of National Drug Control Policy (ONDCP): The bill provides $458.5 million for the Office of National Drug Control Policy to coordinate the whole-of-government response to the opioid and substance use disorder crises, stop drug trafficking, and address addiction. ONDCP also delivers resources directly to communities to address the substance use disorder crisis.

Federal Judiciary: The bill provides $8.82 billion for the federal judiciary for operations of our nation's courtrooms. This includes $1.5 billion for Defender Services, an increase of $49 million above fiscal year 2024.

Securities and Exchange Commission (SEC): The bill provides $2.23 billion for the SEC to protect investors, especially small investors, help keep the American economy strong, and encourage investment in American businesses.

Commodity Futures Trading Commission (CFTC): The bill includes $371 million for the CFTC to regulate the United States' derivatives markets.

United States Tax Court: The bill provides $57.3 million for the United States Tax Court to support its work adjudicating disputes over tax obligations.

Federal Election Commission: The bill provides $85.67 million for the Federal Election Commission to administer and enforce federal campaign finance law.

Pandemic Preparedness: The bill provides $3.5 million for the Office of Pandemic Preparedness and Response housed within the White House - a $1.5 million increase above FY24 - which was established to serve as centralized mission control and ensure there is a team in place, ready to go 24/7 in order to guide an all-of-government response to new and emerging public health threats.

Fraud Detection: The bill provides funding to track where federal dollars go and ensure there is detection of criminals taking advantage of federal programs and support. In particular, the bill sustains funding for the Pandemic Recovery Accountability Committee to continue its critical work overseeing and detecting fraud reported across a host of pandemic relief programs and to help make the affordable, flexible, and scalable analytics platform it developed to identify potential improper payments in COVID relief available for all Inspectors General to use across government. The bill also increases funding to support the work of the Small Business Administration's Inspector General.

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