ANNAPOLIS, Md. (AP) – A Maryland board has approved hiring fund managers to disburse slot machine revenue set aside to help minority- and women-owned businesses.
The Board of Public Works voted 2-1 on Wednesday to designate the Maryland Department of Economic Development to manage the small, minority and women-owned business account. It is funded by 1.5 percent of slot machine proceeds.
The fund has roughly $5 million in it, but the amount is expected to go up as slot machine revenue rises.
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