Economic Development - Business Resource Initiative for Developmental Growth and Empowerment (BRIDGE) Program - Establishment

SB 377 establishes Maryland's BRIDGE Program within the Department of Commerce to provide annual grants to qualifying business incubators. The program targets incubators that primarily serve early-stage businesses in Maryland, require formal mentorship programs, and have directors trained in supporting socially/economically disadvantaged entrepreneurs. Grants cover planning, facility improvements, or operational costs (with limits on operating expense funding), and prioritize incubators in underserved areas or managed by disadvantaged individuals. The law mandates a competitive application process and requires grantees to meet economic impact metrics. This directly affects eligible incubator organizations seeking funding to expand services for underrepresented business owners.