Gov. Larry Hogan is opening up new financial assistance programs for businesses and artists hit hardest during the COVID-19 outbreak.

The funding comes from $250 million Hogan pulled last month from the state's "rainy day" fund to support economic recovery.

“This economic recovery initiative will be critical to the struggling restaurants, small businesses, and Main Streets across the state that are attempting to weather this crisis,” Hogan said in a statement. “I have directed our team to ensure that this much-needed funding gets out the door as quickly as possible."

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Hogan urged local jurisdictions to match the funding with their remaining funding from federal coronavirus relief.

For restaurants, the state will distribute $50 million to each county and Baltimore City based on the number of restaurants in each jurisdiction. Restaurants must apply through their local jurisdiction. Anne Arundel County officials have announced they will match the state's investment there. Baltimore City restaurants are expected to have access to $6.5 million in grants while $7 million in grants are available to Baltimore County restaurants.