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Maryland’s COVID-19 Layoff Aversion Fund saves over 21K jobs, helps nearly 1,300 small businesses

Small business
Posted at 1:04 PM, Mar 10, 2021
and last updated 2021-03-10 13:04:13-05

ANNAPOLIS — Maryland Department of Labor’s COVID-19 Layoff Aversion Fund has saved 21,555 jobs and supported 1,267 small businesses through two rounds of funding, totaling over $31 million.

One of several relief programs originally introduced by Gov. Larry Hogan in March 2020 and expanded through additional funding in October 2020, the COVID-19 Layoff Aversion Fund has enabled the state to quickly provide crucial financial assistance to help Maryland small businesses avoid layoffs and closures.

“The state has delivered more than $1.7 billion in emergency relief for Maryland’s struggling families and small businesses, including over $31 million for the tremendously successful Layoff Aversion Fund,” said Gov. Hogan. “Labor’s Layoff Aversion Fund provided a critical lifeline, funding nearly 1,300 small businesses in every county across the state, keeping their doors open for business, and saving over 21,500 jobs during these unprecedented times.”

The first round of funding announced in March 2020 awarded over $10 million in grants to 445 small businesses and saved 8,819 jobs.

The second round of funding announced in October 2020 awarded over $21 million in grants to support 822 small businesses and save 12,736 jobs across the state.

Combined awards from both rounds of funding invested more than $31 million back into the state’s economy.

Grantees used the average award size of $25,725 for needs such as purchasing remote access equipment and software to promote teleworking, assisting with employee training and education, purchasing cleaning supplies and services to maintain an on-site workforce, and taking advantage of Labor’s Work Sharing Unemployment Insurance Program by supplementing employee income.