Maryland Chamber of Commerce President and CEO Christine Ross Tuesday announced the launch of the “ReNEW Maryland” initiative, a collection of policy proposals that will assist Maryland in overcoming the economic impact of COVID-19 and rebuilding its economy.
ReNEW Maryland is the product of input provided by members of the Chamber’s COVID-19 Working Group and other stakeholders from across the state.
“ReNew Maryland” features three main phases that will assist in short-term recovery (economic resilience), mid-term recovery (economic recovery) and long-term recovery (economic rise). these steps toward a full recovery are likely to evolve as the public health crisis and economic response evolves.
Economic resilience will focus on recommendations that provide immediate financial relief to businesses and rebuild consumer confidence to bridge the gap between the negative economic impact of COVID-19 and recovery.
The Economic recovery phase will kick in as commerce begins to gradually reopen. These policies will focus on establishing stability and predictability for businesses, including financial recovery initiatives like debt forgiveness and protecting businesses from predatory lawsuits.
The third and final phase, economic rise, will examine what economic growth and expansion look like in the post-COVID economy. Once we achieve stability and return to post-COVID levels in all economic indicators, we must turn our attention to securing Maryland’s future through a stronger economy and business climate.