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NJEDA to Provide $15 Million in CARES Act Funding to Businesses in Additional Counties
On August 11, the New Jersey Economic Development Authority (NJEDA) announced that its Board has approved the use of $15.3 million in Coronavirus, Aid, Relief and Emergency Security (CARES) Act funding to provide grants through the Authority’s Small Business Emergency Assistance Grant Program to businesses located in 12 New Jersey counties that did not receive direct allocations of CARES Act funding from the federal government. The funds will be added to the more than $100 million the NJEDA is currently administering to support COVID-19-impacted businesses.
The additional $15.3 million will go toward fulfilling eligible Phase 2 grant applications from businesses located in the 12 New Jersey counties that did not receive direct CARES Act funding allocations from the federal government: Atlantic, Burlington, Cape May, Cumberland, Gloucester, Hunterdon, Mercer, Morris, Salem, Somerset, Sussex, and Warren.
The remaining nine counties previously received their own separate allocations of CARES Act funds. Essex, Ocean and Passaic counties contributed $10 million each to the NJEDA to allocate to businesses in those three counties through Phase 2 of the Small Business Emergency Assistance Grant Program. Bergen, Camden, Essex, Hudson, Middlesex, Monmouth, Ocean, Passaic, and Union counties are spending the funds on other COVID-19 relief programs.
Please reach out to Hilary Chebra, Manager, Government Affairs at hchebra@chambersnj.com if you have any questions.
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