The collapse of the Francis Scott Key Bridge on March 26 after being struck by a container ship named Dali has had devastating consequences. The bridge, which was opened in 1977, connected the Port of Baltimore to the Chesapeake Bay and the Atlantic Ocean. The collapse resulted in loss of life and crippled the port, highlighting the importance of strong infrastructure for communities across America.
The economic impact of the waterway’s closure has been estimated to be $15 million per day, affecting businesses not only in Maryland but also beyond. Governor Wes Moore referred to the collapse as a “global crisis” given the far-reaching effects it has had. The Port of Baltimore, which employed 15,000 people and indirectly supported 140,000 others in 2023, generated billions of dollars in business revenue, wages, and tax revenue, making it a crucial economic hub.
The U.S. Small Business Administration (SBA) has stepped in to assist small businesses affected by the collapse through low-interest, long-term Economic Injury Disaster Loans (EIDLs). Businesses in several states, including Maryland, the District of Columbia, and parts of Pennsylvania, Virginia, and West Virginia, are eligible for these loans. Business Recovery Centers have been set up in Baltimore and Dundalk to help business owners with their loan applications and provide updates on the process.
There is a consensus on the need to rebuild the Francis Scott Key Bridge. Members of the U.S. Senate Committee on Commerce, Science, and Transportation, as well as the entire Maryland delegation, support the federal government taking the lead in rebuilding the bridge. This tragedy has emphasized the importance of infrastructure projects funded through the Bipartisan Infrastructure Law, which aim to improve roads, bridges, ports, and waterways across the country.
Transportation Secretary Pete Buttigieg highlighted the thousands of infrastructure projects currently underway in the United States, including bridge repairs, road improvements, and port projects. The rebuilding of the Francis Scott Key Bridge is seen as a priority to strengthen supply chains, speed up the movement of goods, and lower costs. The collapse serves as a reminder of the significant impact that infrastructure failures can have on the economy and the importance of investing in infrastructure to protect communities and their economies.
