WASHINGTON — In the aftermath of violence in Baltimore, a financial crisis in the city is taking hold: Dozens of closed businesses and lost jobs are putting stress on the city’s resources.
Maryland Gov. Larry Hogan acknowledges it may be a while before the city is back on its feet.
“I believe we have 200 business closed, and nearly half of those 200 business are Korean-owned businesses, and many of them don’t have insurance,” Hogan said.
There is also concern over the jobs and tourism lost after Monday’s violence.
“We are going to try, first of all, to take care of the businesses we’ve lost here in the city. We’re going to try to maintain the businesses that are here in the city, and make sure that they can be successful. And then we’re going to try to do whatever we can to rebuild the economy of Baltimore city and the state of Maryland,” Hogan said.
Business owners are working with the Small Business Administration and other organizations to try and assess the scope of their financial losses.
