The New Jersey Economic Development Authority (NJEDA) has approved $500,000 to reopen and expand the Route 80 Business Assistance Grant Program to more small businesses that have experienced revenue declines due to detours caused by ongoing sinkhole repairs near Exit 34.
The program was originally restricted to small businesses in Morris County most impacted by the highway closure and the initial $5 million in funding has already been allocated. The NJEDA board’s action on Tuesday will allow the program to reopen the application process later this month with new eligibility requirements that allow small businesses located anywhere within five miles of Route 80’s Exit 34 in Wharton – regardless of county – to apply.
Businesses in Hopatcong, Sussex County, are within the five-mile radius of the sinkhole epicenter at Exit 34 but were previously ineligible for grants when the program originally launched. The NJEDA board’s action will now allow these small businesses in Hopatcong, which have also experienced a decline in sales due to the sinkholes, to apply for grants ranging from $1,000 to $15,000. The application portal will reopen later this month, NJEDA said.
Eligible applicants include small businesses and nonprofits that have up to 50 full-time employees. Applicants must also certify a negative financial impact of at least $1,000 for the first quarter of 2025. Morris County businesses that have already a grant through the program are not eligible to apply for a second grant when the program reopens.
“Small businesses along Route 80 have faced tremendous challenges due to its closure over the past couple of months for ongoing sinkhole repairs,” Gov. Phil Murphy said. “The additional $500,000 approved by the NJEDA Board for the Route 80 Business Assistance Grant Program will provide urgently needed support for these businesses. We’re working quickly to get these resources out the door and into the hands of our local small business community.”
NJEDA CEO Tim Sullivan said that since the Route 80 Business Assistance Grant Program launched in April, the NJEDA has already delivered $1 million to small businesses in Morris County and continues to make approvals daily. The NJEDA is committed to ensuring the additional funds approved this week reach businesses that need help most.
Legislators representing District 24, which includes Hopatcong, said they appreciated NJEDA’s action to provide relief for all nearby businesses impacted by the sinkhole repair work, including those located across the nearby Sussex County border.
“Sinkholes don’t respect county or municipal boundaries, and neither should relief for small businesses,” said Assemblyman Michael Inganamort (R-24). “In speaking directly with CEO Tim Sullivan, he understood our concerns and was willing to work collaboratively with us on a helpful solution.
“I appreciate the NJEDA’s teamwork on this important request of ours because our small businesses are still hurting as a result of the heavy traffic caused by the sinkhole,” Inganamort said. “We have a lot of work ahead of us, but this is a meaningful step in the right direction.”
