FOR IMMEDIATE RELEASE
October 20, 2020

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Kristin O’Keefe
VP of Communications & Marketing
kristin@thinkmoco.com
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3R Initiative Funding Provides Support During Crucial Holiday and Winter Season

Rockville, Md.—As part of the public-private 3R (Reopen, Relaunch and Reimagine) Initiative, the Montgomery County Economic Development Corporation (MCEDC) is now accepting grant applications from local restaurants and retailers for up to $5,000 to prepare for the upcoming holiday season and winter months. Eligible businesses can submit applications through November 5.

More information on the 3R Initiative Restaurant & Retail grant program and the application can be found here. The grant is an important component of MCEDC’s comprehensive year-long 3R Initiative designed to address the devastating impacts of the pandemic on the Montgomery County restaurant and retail industries.

Although any locally-owned restauranteur or retailer with fewer than 100 employees can apply for the grant, ten Montgomery County target corridors will be given priority for funding: Burtonsville/Briggs Chaney, Wheaton/Glenmont, White Oak, Aspen Hill, Germantown, Damascus, Takoma-Langley, Four Corners, Montgomery Hills, and Twinbrook/White Flint. These ten target corridors were selected with community input.

Recognizing how COVID-19 has severely impacted the way restaurants and retailers interact with customers, the 3R Initiative Restaurant & Retail grant will support technical assistance and new business expenses that may have been unanticipated prior to the pandemic, including e-commerce solutions, delivery service fees and auto insurance costs related to deliveries. The grant is designed to supplement and not to duplicate or replace Montgomery County’s existing COVID-related funding programs for small businesses.

As part of its outreach for the 3R Initiative Restaurant & Retail grant, MCEDC will also work with applicants to coordinate and facilitate potential reimbursements of an additional $5,000 available through the current Reopen Montgomery grant program. The Reopen Montgomery reimbursement grants offset eligible business expenses related to meeting state and local public health requirements. Consequently, 3R Initiative grant recipients could possibly receive up to a total of $10,000 in funding support from both programs.

“The pandemic is forcing small businesses to change operations just to survive. Restaurants and retail have been significantly affected,” said Benjamin H. Wu, President and CEO of MCEDC. “Our local consumer survey underscored a greater need to emphasize on-line shopping, delivery and take-out that will continue until a vaccine is developed. The 3R Initiative can help these businesses cover some of their new expenses and complement other available COVID resources provided by the County.”

“Coupling the 3R Initiative Restaurant & Retail grant with the Reopen Montgomery grant is a powerful partnership. As an example, a restaurant could apply to the 3R Initiative for e-commerce solutions and delivery fees, and we could also connect that same establishment to the Reopen Montgomery reimbursement program to support their air filtration and outdoor seating needs. We are all working together to provide a coordinated response that can lead us to an economic recovery,” explained Wu.

MCEDC introduced the $1 million 3R Initiative with public and private funding from Montgomery County and PEPCO earlier in the Summer. The press release announcing the 3R Initiative can be found here. Subsequently, the 3R Initiative has received additional support from the Exelon Foundation and the National Alcohol Beverage Control Association. The 3R Initiative Restaurant & Retail grant is one component of the 3R Initiative; future elements include a retail recovery guide, a countywide e-commerce marketplace and additional targeted investments in selected commercial corridors.

ABOUT MCEDC

The Montgomery County Economic Development Corporation (MCEDC) is the official public-private economic development organization representing Montgomery County, Maryland. Created in 2016, MCEDC is led by a Board of Directors of business executives. Its mission is to help businesses start, grow and relocate in Montgomery County by helping them gain access to top talent, business and market intelligence and prime locations. For more information, visit our website. Follow us on Twitter, Facebook and LinkedIn.