Applications Open for NJEDA’s Construction Inflation Fund
TRENTON, N.J. (September 5, 2023) – 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.
WHAT: 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.
The Fund was created through the federal American Rescue Plan’s Coronavirus State and Local Fiscal Recovery Funds. The Fiscal Year 2023 State Budget appropriated ARP funds for “Real Estate Gap Financing”, which led to the creation of the Construction Inflation Fund.
WHEN: Applications must be submitted by October 19, 2023 at 5:00 p.m.
October 3, 2023
NJEDA Announces $12 Million Funding to 48 Cannabis Equity Grant Awardees
Bloomfield, N.J. (October 3, 2023) —Today, New Jersey Economic Development Authority Chief Executive Officer, Tim Sullivan, and Chief Community Development Officer, Tai Cooper, joined Bloomfield Mayor, Michael J. Venezia, along with representatives of the New Jersey Cannabis Regulatory Commission (NJCRC) to announce the awarding of $12 million of grant funding.
October 2, 2023
NJEDA Angel Tax Credit Approvals Drive over $63 Million in Private Sector Investment into New Jersey Companies in 2023
TRENTON, N.J. (October 2, 2023) – The New Jersey Economic Development Authority (NJEDA) announced today that 28 emerging New Jersey technology businesses benefitted from $63.2 million in private investment as supported in 2023 by the New Jersey Angel Investor Tax Credit Program (ATC).
October 2, 2023
NJEDA to Announce Cannabis Grant Awardees & Major New Funding
TRENTON, N.J. (October 2, 2023) – Tomorrow, Tuesday, October 3, 2023, the New Jersey Economic Development Authority (NJEDA) will host a press conference to announce the recipients of the $250,000 Joint Ventures Grants and provide a funding update for its Cannabis Equity Grant Program.