The New Jersey Economic Development Authority (NJEDA) is now accepting applications for the Construction Inflation Fund, which will provide grants for development projects experiencing increased construction costs and funding gaps resulting from inflation caused by the COVID-19 pandemic. The $10 million program offers grants of up to 20 percent of total project costs.

The Construction Inflation Fund, funded at $10 million, is a competitive grant program created to address the impacts of COVID-19. The Fund aims to mitigate the negative economic impacts of the pandemic by providing support to real estate development in the form of grants for real estate substantial rehabilitation, new construction, and development costs associated to each project.

Applications for the Construction Inflation Fund can be found here. Questions from interested parties can be submitted to realestateinfo@njeda.gov.

Applications must be submitted by October 19, 2023 at 5:00 p.m.    

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.