Se han otorgado US$23.7 millones en asistencia a más de 280 empresas desde el inicio del verano

Trenton, NJ – La Administración Christie anunció hoy que se han logrado significativos avances este verano en la concesión de préstamos y subsidios para la recuperación de las pequeñas empresas en las comunidades afectadas por el huracán Sandy, a través de todo el estado, con los programas Stronger NJ para negocios; administrados por la Autoridad de Desarrollo Económico de New Jersey (EDA, por sus siglas en inglés).

Desde el pasado fin de semana de Memorial Day, más de 280 empresas han recibido la aprobación de asistencia del Programa de Subsidios y Préstamos Comerciales Stronger NJ, con un total superior a US$23.7 millones.  Hasta la fecha, más de 800 empresas han sido beneficiadas con estos subsidios y préstamos por un total de US$88.4 millones.

“He escuchado noticias muy alentadoras de los empresarios sobre lo bien que les ha ido este verano en sus negocios, particularmente en el sector turístico” -dijo el gobernador Christie.  “Las pequeñas empresas han trabajado duro para lograr su recuperación y muchos de ellos ya están cosechando el fruto de esos esfuerzos.”

Las aprobaciones recientes de subsidios incluyen a empresas de comunidades afectadas en las regiones de North Jersey y South Jersey, incluyendo Dillon’s Creek Marina en Island Heights, Writer’s Relief en Wood Ridge, Kitchen and Bath Design Gallery en Union, Barlow Flower Farm en Wall y Coastal Plumbing and Heating en Cape May.  Se han aprobado préstamos Stronger NJ para negocios para las siguientes empresas: Coin Castle Amusements en Seaside Heights, Shelly’s Food Store en Jersey City y Lakewood Candies en Lakewood.  Los fondos Stronger NJ todavía están disponibles para los negocios que iniciaron el proceso de solicitud antes del plazo del 31 de diciembre.

“Hemos logrado la reconstrucción en los siete meses siguientes al embate del huracán y pudimos reabrir el negocio para la temporada de 2013.  El año pasado nos costó un poquito más y no nos fue muy bien porque la gente no llegó mucho”-dijo Karen Rosania, propietaria de Mr. Tee’s Golf, en Beach Haven.  “Este año sin embargo hemos visto una gran mejora.  Mr. Tee’s no lo hubiese logrado sin el Programa de Subsidios para Negocios Stronger NJ”.

La señora Rosania presentó su solicitud al programa por primera vez en un taller patrocinado por la EDA en el Museo Marítimo de New Jersey, el otoño anterior.  Se organizaron muchos talleres en las comunidades afectadas durante todo el período de solicitudes al Programa para ayudar a los dueños de negocios a cumplir con los requisitos del mismo.

Además de la asistencia con subsidios y préstamos, se han aprobado US$43.6 millones con el Programa de Revitalización de Vecindarios y Comunidades Stronger NJ, que proporciona financiamiento para proyectos prioritarios de revitalización económica a largo plazo en las comunidades afectadas por el huracán Sandy.

Los programas para negocios Stronger NJ son financiados a través de Programa del Bloque de Subsidios para el Desarrollo de la Comunidad/ Asistencia para Recuperación por Desastres (CDBG-DR, por sus siglas en inglés) del Departamento de Vivienda y Desarrollo Urbano de los Estados Unidos (HUD, por sus siglas en inglés).  Al igual que otros programas de asistencia con subsidios posterior al huracán Sandy, los requisitos federales de elegibilidad son estrictos, los cuales deben ser cumplidos por la EDA y los solicitantes de ayuda.

Para obtener más información sobre los programas para negocios Stronger NJ, visite http://application.njeda.com/strongernjbusiness o llame a la línea gratuita de asistencia Sandy de la EDA al 1-855-SANDY-BZ (1-855-726-3929).

$85.3 Million Approved in Grants and Loans for Small Businesses

Trenton, NJ – Demonstrating the Christie Administration’s commitment to the recovery of small businesses in the aftermath of Superstorm Sandy, the New Jersey Economic Development Authority (EDA) today announced the award of a $50,000 Stronger NJ Business Grant to Field Station: Dinosaurs in Secaucus to support the park’s recovery from Superstorm Sandy. 

Field Station opened in 2012 and encompasses 20 wooded acres where, upon admission, every visitor becomes a scientist, receives a passport in place of a ticket and begins an expedition exploring more than 30 full-size animatronic dinosaurs. The lifelike prehistoric creatures were built using robotics engineering and the creative imagination of artists.  The impact of Sandy at Field Station included wind damage to several of the dinosaurs.

“Attractions like Field Station: Dinosaurs are so important to the tourism sector of New Jersey’s economy,” said EDA CEO Michele Brown.  “Tourism is going strong in our state post Sandy, and we are delighted to support businesses that add to New Jersey’s appeal for visitors.”

To date, over 770 businesses have been approved for Stronger NJ grants and loans totaling over $85.3 million, and an additional $43.7 million has been approved for community improvement projects through the Stronger NJ Neighborhood and Community Revitalization program.

Lt. Governor Kim Guadagno recently visited Field Station: Dinosaurs marking this summer’s sixth “Tourism Tuesday.” The campaign promotes the diversity of New Jersey’s tourism industry during the busy summer season and showcases the state as the premier tourism destination in the Northeast to vacationers of all ages and interests.
                                                                                                                                                                                                                                             
“Lt. Governor Guadagno has been a great champion for tourism in the state and we’re proud that she chose Field Station: Dinosaurs for a visit,” said Field Station: Dinosaurs President and Executive Producer Guy Gsell. “It was a special thrill for the hundreds of New Jersey campers who were here to meet her. The Lt. Governor’s visit was a great addition to the kids’ day of learning and laughing.”

The Stronger NJ Business programs are funded through New Jersey’s Community Development Block Grant Disaster Recovery (CDBG-DR) allocation from the United States Department of Housing and Urban Development (HUD).  Similar to other Sandy relief grant programs, there are strict federal eligibility requirements to which the EDA and applicants must comply. 

For more information on the Stronger NJ Business programs, visit http://application.njeda.com/strongernjbusiness or call EDA’s Sandy hotline at 1-855-SANDY-BZ (1-855-726-3929).

TRENTON, N.J. (August 12, 2014) – In support of the Christie Administration’s efforts to spur investment and job creation in targeted communities through the New Jersey Economic Opportunity Act of 2013, the state Economic Development Authority (EDA) today announced that 68 percent of the projects approved under the enhanced Grow NJ Assistance Program are located in a distressed municipality, Urban Transit Hub or Garden State Growth Zone, representing over 80 percent of tax credits approved to date. 

“The Economic Opportunity Act was designed to encourage growth in targeted communities, including transit hubs and municipalities that have long suffered from disinvestment,” said EDA Chief Executive Officer Michele Brown.  “We are pleased the results to date illustrate that the Grow NJ program is working to effectively stimulate private investment and job creation in these communities.”

The New Jersey Economic Opportunity Act, signed into law by Governor Christie in September 2013, created Grow NJ as the state’s main job creation and retention incentive program.  Grow NJ places extra emphasis on spurring development and private sector job growth in targeted communities, offering enhanced benefits to businesses that invest in designated distressed or Urban Transit Hub municipalities, and “Garden State Growth Zones,” identified in the statute as the four lowest median family income cities in the state: Camden, Trenton, Passaic City and Paterson. 

At its August meeting, the EDA Board approved three Grow NJ projects located in a targeted community.  The Business Action Center worked in collaboration with the EDA to help cultivate these economic development projects, providing interdepartmental advocacy and ongoing customer support.

Dicalite Management Group, Inc., which specializes in Diatomaceous Earth (DE) and Perlite products, is considering moving its headquarters and constructing a processing facility in Pennsauken, a designated distressed municipality in Camden County.  If Pennsauken is chosen over a competing location in Pennsylvania, the company expects to create 36 new jobs and invest over $8.8 million.

Sandy Alexander, Inc. is a full service graphic communication company operating from a 134,000-square-foot manufacturing and headquarters facility in Clifton.  Its lease expires in May 2015 and the company has reached capacity.  Sandy Alexander is contemplating an expansion in Clifton, a designated distressed municipality, or Rockland County, New York.  The project would involve the retention of 216 jobs, the creation of 74 new jobs, and the investment of an estimated $2.8 million.

Global payment solutions company First Data Corporation is considering Jersey City for the home of its expanding security applications team.  The alternative is to expand at its headquarters in Georgia.  If the company chooses Jersey City, a designated Urban Transit Hub municipality, it expects to create 74 new jobs and invest nearly $1.4 million.

As designated distressed municipalities, companies locating in Pennsauken and Clifton can be approved for a base award of $4,000 per job, per year under the Grow NJ program.  Companies located in Urban Transit Hub municipalities may be eligible for a base award of $5,000 per job, per year.  Bonus credits, ranging from $250 – $3,000 per job, per year, are available to support the advancement of defined public policy goals, including targeted locations and industries.  Dicalite, Sandy Alexander and First Data all received a bonus of $2,000 per job, per year for their respective locations in a Transit Oriented Development, defined in the statute as a qualified business facility located within a ½-mile radius (one-mile in Garden State Growth Zones) surrounding the mid-point of a New Jersey Transit Corporation, Port Authority Transit Corporation, or Port Authority Trans-Hudson Corporation rail, bus, or ferry station platform area, including all light rail stations. 

EDA Board meetings are typically held at 10 a.m. on the second Tuesday of each month at 36 West State Street in Trenton.  The Board meeting schedule, as well as Board agendas and minutes, are available at www.njeda.gov. All Board actions will take effect at the expiration of the statutory period for the Governor’s review and consideration of the meeting minutes.

The EDA is part of the state’s results-driven Partnership for Action, the hub for all economic development activity in New Jersey. The Partnership is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 

For more information on the Economic Opportunity Act and Grow NJ program, visit https://www.njeda.gov/web/pdf/NJEconomicActof2013_summary.pdf. To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.

Hurricane Sandy NJ Relief Fund and UCEDC team up to help businesses look their best for the summer season and beyond

(Cranford, NJ)  Twenty-seven Seaside Heights businesses, on and off the boardwalk, have received free retail design consultations and $2,000 implementation grants thanks to the Hurricane Sandy New Jersey Relief Fund (HSNJRF) and UCEDC, a statewide nonprofit economic development corporation.

The Seaside Heights First Impressions Program was launched by UCEDC last May with financial support from the First Lady’s Relief Fund, the HSNJRF, to help Seaside Heights businesses recover from Sandy and the Boardwalk fire.  The program aims to give these small businesses and their owners the extra boost they need for a successful 2014 summer season.

“This historic Boardwalk holds a lot of special memories for families across New Jersey and the Relief Fund is extremely proud to take part in its recovery,” said First Lady Mary Pat Christie, Chair of the Hurricane Sandy New Jersey Relief Fund.  “The people of Seaside Heights are incredibly resilient — they continue to get right back up and I’m thrilled that the First Impressions Program was able to give them a helping hand.”

Each business received up to five hours of consultation with a retail designer and an easy to implement design plan; store layout, colors, signage, traffic flow and other elements of the retail experience were considered.  Owners could decide for themselves how and when to use their $2,000 grant.  Improvements have included new paint colors, repaired/enhanced facades, signage/branding, and new display fixtures.

“Working with the business owners in Seaside Heights has been a moving experience,” said Maureen Tinen, UCEDC President. “Despite all they’ve been through, they remain completely committed to their businesses and their community.  They’ve worked hard to bring Seaside back and they’ve enthusiastically embraced the First Impression Program as a way to make the business district even more vibrant and inviting.”

“Nancy (Zoraian, the First Impressions retail design consultant) gave me such great advice,” says Cara Hershey, owner of Le Petite Garage, a women’s clothing and jewelry boutique on Ocean Terrace. “She helped me change a few things in my shop that I would have never thought of myself.”

Patty Hershey, owner of the Shake Shoppe on the boardwalk was eager to get a fresh perspective on her location. “Thanks to UCEDC, with Nancy’s help and the grant, we’ve made some changes that make the arcade look terrific, better than ever!”

The partnership between the Hurricane Sandy New Jersey Relief Fund and UCEDC extends far beyond the Seaside Heights First Impressions program.  Support from the Relief Fund has allowed UCEDC to offer 2% working capital loans and ongoing business mentoring to small businesses throughout the nine-county Sandy- affected region.  Thus far, $3.255 million in loans have been made to 115 small businesses in 87 communities. This infusion of working capital created/protected over 1,000 jobs and leveraged close to $7 million in capital investments.

About the Hurricane Sandy New Jersey Relief Fund

The Hurricane Sandy New Jersey Relief Fund Inc. is a private independent charitable organization, not formed or controlled by the State of New Jersey or any of its agencies or offices. The Relief Fund is chaired by First Lady Mary Pat Christie and has raised $40 million from over 33,000 donors worldwide.  Nearly $34 million has been distributed, to date, to more than 100 non-profit organizations focused on New Jersey’s long-term recovery efforts.  For more information, visit http://www.sandynjrelieffund.org or follow us on Twitter @SandyNJRelief.

About UCEDC

UCEDC, a statewide nonprofit economic development corporation, is dedicated to promoting New Jersey’s small businesses with resources tailored to every stage of business growth.  Since its inception in 1977, UCEDC has provided over $20 million in loans to start-up and established businesses through a variety of SBA programs and other funding sources.  Its  Procurement Technical Assistance Center has helped local businesses win over $2 billion in awarded government contracts.   And thousands of entrepreneurs have attended its workshops and seminars, giving them a strong foundation for success.

More Than 100 Businesses Approved for Grants in July

Trenton, NJ – Demonstrating the Christie Administration’s commitment to the recovery of small businesses in the aftermath of Superstorm Sandy, the New Jersey Economic Development Authority (EDA) today announced significant milestones reached during July in the progress of the Stronger NJ Business Grant Program. 

During July, over 100 businesses were approved for Stronger NJ Business Grants, bringing the total number of grants approved since the launch of the program to more than 700 and the total amount approved to over $35 million.

”Great strides have been made in recent months in terms of the progress of the Stronger NJ Business Programs,” said Michele Brown, EDA Chief Executive Officer.  “Between the Stronger NJ Grant, Loan and Neighborhood and Community Revitalization programs, over $126 million has been approved to date to support Sandy impacted businesses and communities.  Any business that started a grant application prior to the December 31st deadline should contact us immediately as there are still grant funds available for eligible businesses.”

Recent grant approvals include businesses from impacted communities in both North and South Jersey, including Field Station: Dinosaurs in Bloomfield, Mike Romano’s Auto Body and The Music Gallery in Little Ferry, Trattoria Postiglione in Moonachie, Tandem Bike Inn in Belmar, Morrison’s Seafood in Beach Haven, Bob’s Marine in Brigantine City, and Bayshore Appliance in Keyport.

“The cost of our storm related repairs could not be passed on to our customers in this economy and the grant funds will help Morrison’s remain a viable business.  We very much appreciate the help the State has provided,” said Dona Kozlowski, Administrator, Morrison’s Seafood. 

In addition to grants approved, $48.1 million in Stronger NJ Business Loans have been approved for 43 businesses, and $43.6 million has been approved under the Stronger NJ Neighborhood and Community Revitalization Program, which provides funding for long-term economic revitalization priorities in Sandy-impacted communities.

The Stronger NJ Business programs are funded through New Jersey’s Community Development Block Grant Disaster Recovery (CDBG-DR) allocation from the United States Department of Housing and Urban Development (HUD).  Similar to other Sandy relief grant programs, there are strict federal eligibility requirements to which the EDA and applicants must comply. 

For more information on the Stronger NJ Business programs, visit http://application.njeda.com/strongernjbusiness or call EDA’s Sandy hotline at 1-855-SANDY-BZ (1-855-726-3929).

Se han aprobado subsidios para más de 100 empresas en julio

Trenton, NJ – Como una forma de demostrar el compromiso de la administración Christie con las acciones de recuperación de las pequeñas empresas afectadas por el huracán Sandy, la Autoridad de Desarrollo Económico de New Jersey (EDA, por sus siglas en inglés) anunció hoy un importante hito logrado en el mes de julio por el Programa Stronger NJ de Subsidios Comerciales.

Durante julio, se ha aprobado más de 100 empresas; lo que eleva a más de 700 el número total de subsidios aprobados desde el inicio del programa, con un total superior a US$35 millones.

“En estos últimos meses, se han dado grandes pasos en el progreso de los programas Stronger NJ para negocios” -dijo Michele Brown, Directora Ejecutiva de la EDA.  “En conjunto, con los programas Stronger NJ de Subsidios Comerciales y de Revitalización de Vecindarios y Comunidades, se ha confirmado hasta la fecha un monto superior a US$126 millones para apoyar a comunidades y empresas afectadas por Sandy.  Cualquier negocio que haya presentado una solicitud de subsidio antes de la fecha límite del 31 de diciembre, debe contactarnos inmediatamente ya que todavía hay fondos disponibles para las empresas elegibles”.

Entre las recientes aprobaciones de subsidios, se incluyen las otorgadas a empresas en comunidades afectadas en el norte y sur de New Jersey, tales como Field Station: Dinosaurs, en Bloomfield; Mike Romano’s Auto Body y The Music Gallery, en Little Ferry; Trattoria Postiglione, en Moonachie; Tandem Bike Inn, en Belmar; Morrison’s Seafood, en Beach Haven; Bob’s Marine, en la ciudad de Brigantine y Bayshore Appliance, en Keyport.

“El costo de reparaciones por daños causados por nuestra tormenta, no podía ser cargado a nuestros clientes en la economía actual y, por tanto, los fondos por subsidios ayudarán a que Morrison siga siendo un negocio viable.  Apreciamos mucho la ayuda que nos ha dado el Estado” -dijo Donna Kozlowski, administradora de Morrison’s Seafood.

Además de los subsidios comprometidos, se han aprobado US$48.1 millones en préstamos comerciales Stronger NJ para 43 empresas y US$43.6 millones, para el Programa de Revitalización de Vecindarios y Comunidades, el que proporciona financiamiento para prioridades de revitalización económica a largo plazo en las comunidades afectadas por Sandy.

Los programas Stronger NJ para negocios son financiados a través del Programa del Bloque de Subsidios para el Desarrollo de la Comunidad/ Asistencia para Recuperación por Desastres (CDBG-DR, por sus siglas en inglés) del Departamento de Vivienda y Desarrollo Urbano de los Estados Unidos (HUD, por sus siglas en inglés).  Al igual que otros programas de subvención para asistencia posterior a Sandy, los requisitos de elegibilidad federal son estrictos, los que deben cumplir tanto la EDA como los solicitantes de subsidios.

Para obtener más información sobre los programas  Stronger NJ para negocios, visite el enlace http://application.njeda.com/strongernjbusiness o llame a la línea directa Sandy de la EDA al 1-855-SANDY-BZ (1-855-726-3929).

Innovative Program will Address Resilience of Critical Infrastructure and Facilities

TRENTON, N.J. ( July 23, 2014) – As part of the Christie Administration’s continuing efforts to minimize the impact of future major power outages and increase energy resiliency, the State today took steps to further develop the New Jersey Energy Resilience Bank (ERB), the first public infrastructure bank in the nation to focus on energy resilience. Utilizing $200 million through New Jersey’s second Community Development Block Grant-Disaster Recovery (CDBG-DR) allocation, the ERB will support the development of distributed energy resources at critical facilities throughout the state.

Today, the N.J. Board of Public Utilities (BPU) approved a subrecipient agreement with the N.J. Economic Development Authority (EDA) to work jointly in the establishment and operation of the ERB; the EDA approved the subrecipient agreement on July 10.  The EDA and BPU also announced the hiring of staff to fill two ERB leadership positions.

“The launch of the Energy Resilience Bank is yet another effort of the Christie Administration to enhance energy resilience at critical facilities throughout New Jersey,” said BPU President Dianne Solomon.  “Increasing energy resilience will minimize the potential impacts of future widespread power outages due to major storms like Superstorm Sandy.”

Superstorm Sandy caused extensive damage to New Jersey’s energy infrastructure, disrupting delivery of electricity, petroleum, and natural gas to consumers across the state, and leaving an estimated five million residents without electricity. Distributed energy resources, including combined heat and power, fuel cells and off-grid solar inverters with battery storage, allowed some critical facilities, such as hospitals, wastewater treatment plants and universities, to remain operational while the electric grid was down.  The launch of the ERB will enable many more such facilities to remain operational during future outages.  In addition to providing resilience, the benefits of distributed energy resources also include lower and more stable energy costs, a cleaner environment through reduced emissions, and increased overall efficiency.

“Distributed energy resources proved extremely effective following Superstorm Sandy; unfortunately, due to high initial costs, many critical facilities do not have these energy resilience solutions in place,” said Michele Brown, Chief Executive Officer of the New Jersey Economic Development Authority.  “The ERB will help address this unmet need by providing technical and financial support to critical facilities across New Jersey to ensure they have a path for building energy resilience.”

As outlined in New Jersey’s Action Plan amendment, the ERB will be focused on providing capital, both low interest loans and grants, to critical facilities that offer the greatest resilience benefits for the residents of the State, including water and wastewater treatment plants and  hospitals, with subsequent funding directed towards other critical facilities, such as, transportation networks, emergency response facilities including police, fire, and EMS, and schools that can function as shelters in case of emergency. Realizing resilient energy solutions at water and wastewater treatment plants will be an early priority of the ERB, consistent with the State’s emergency management and long-term recovery priorities.

The Boards of each agency have approved a subrecipient agreement to advance the creation of the ERB.  Under the agreement, EDA and BPU will work collaborateively to design the program parameters, including the technical, operational and financial conditions applicants will need to meet to receive funding. Consistent with other jointly administered programs, the EDA will undertake a financial review and perform due diligence of applicants and projects that have successfully completed BPU’s technical review.  Later this summer, it is anticipated that the EDA and BPU Boards will be asked to approve the ERB Guide to Program Funds, which will outline the parameters through which grants and loans will be provided to the initial group of critical facilities. 

Brown and Solomon also announced the hiring of two individuals to head the ERB.

Mitch Carpen, of Plainfield, NJ, has been named the ERB’s Executive Director.  The Executive Director serves as the head of the ERB, leading all aspects of its strategy and execution, and is   ultimately responsible for managing the pipeline of ERB investments. Mr. Carpen is an experienced banking professional with international experience and expertise in corporate lending, risk management, compliance regulations, portfolio management and technology to drive business initiatives and decision making.  Mr. Carpen is returning to New Jersey from Singapore, where he worked for the Bank of Tokyo-Mitsubishi UFJ Ltd., as Assistant General Manager, Head of Credit Portfolio Risk and Strategy.  Mr. Carpen earned his bachelor’s degree in computer and information science and a master’s degree in economics from Rutgers University and a master’s degree in mathematics of finance from Columbia University, New York.

Thomas N. Walker, P.E., CCP, of Howell, NJ, has been named the ERB’s Deputy Director.  The Deputy Director serves as head of policy and internal operations of the ERB and acts as the second-in-line of the organization.  Mr. Walker is currently employed with the BPU as the Bureau Chief of Engineering Services in the Division of Energy, where he is primarily responsible for the management of engineering staff on electric and energy matters.  Additionally, his responsibilities include participation and monitoring of Federal Energy Regulatory Commission and PJM Interconnection matters.  Mr. Walker has over 19 years of experience in the natural gas and electric industries, working directly for several utility companies as well as consulting firms. Mr. Walker is a Professional Engineer in New Jersey, received his bachelor’s degree in mechanical engineering at Villanova University, and is a Certified Cost Professional.

For additional information on the ERB, the State’s Action Plan amendment for the second allocation of CDBG-DR funds can be viewed at: http://www.nj.gov/dca/divisions/sandyrecovery/pdf/NJ%20Action%20Plan%20Substantial%20Amendment%202%202%20final.pdf.