The New Jersey Economic Development Authority (NJEDA) will open applications for the Route 80 Business Assistance Grant Program at 10 a.m. on Tuesday, April 22 for small businesses located within a 5-mile radius of Exit 34 that have lost revenue due to ongoing sinkhole repairs.
The $5 million grant program is open to small businesses and nonprofits impacted by the highway lane closures on Route 80 near Exit 34. The program is restricted to businesses and nonprofits with a commercial location within designated ZIP codes, have less than 50 full-time-equivalent employees, and have experienced at least $1,000 in revenue losses.
Grants ranging from $1,000 to $15,000 are available to qualifying small businesses, depending on their revenue losses and number of employees. Applicants are encouraged to visit NJEDA’s Online Application Center to create a username and password prior to before the application portal opens on April 22 because grants will be distributed on a first-come, first-served basis.
An information session for small business owners who want to learn more about the grant program and how to apply is scheduled for 6 p.m., Wednesday, April 16. An NJEDA PowerPoint that explains the program and eligibility requirements is also available here.
Initially, grants are available only to businesses and nonprofits located within 5 miles of Exit 34, but if funds are left over after the initial application period closes at 5 p.m. on April 28, the program will be expanded to businesses located farther away from the Exit 34 epicenter.
Businesses located within a 10-mile radius of Exit 34 will be able to apply for grants between 10 a.m., April 29 and 5 p.m., May 5 on a first-come, first-served basis if funding remains available. After that point, qualifying businesses located anywhere in Morris County will be able to apply for grants beginning at 10 a.m., May 6 if funds remain available.
