Baltimore business owners are facing a challenging spring as authorities work to clear the collapsed Francis Scott Key Bridge, but there is hope that the disruptions will be short-lived.
Alex Del Sordo, the owner of the Hard Yacht Cafe, a waterfront restaurant with its own marina, is feeling the impact of the bridge collapse. Del Sordo has been offering discounts to first responders to support the community, but it has affected his bottom line. With concerns about stabilizing costs and keeping the business afloat, Del Sordo is determined to keep his employees working and happy.
The closure of the bridge has disrupted vessel traffic at the Port of Baltimore, affecting businesses like BTR Logistics, which is experiencing a significant loss in revenue due to the halted shipments. The closure is expected to have a ripple effect on the local economy, with an estimated 20,000 jobs directly tied to the port.
Despite the challenges, there is support for businesses affected by the bridge collapse. The Small Business Administration is offering low-interest loans, and Maryland Governor Wes Moore has allocated $60 million in relief funding. President Joe Biden has also pledged federal support for the recovery effort.
While the road to recovery may be long, there is optimism that Baltimore businesses will bounce back. Jim Chivers, a senior vice president at Gold and Company, believes that the demand for industrial real estate in the area remains strong, indicating a positive outlook for the future.
As businesses navigate the challenges ahead, the community is coming together to support one another during this difficult time.