Translate
Facebook
X
Instagram
LinkedIn
Youtube
MEDIA CONTACT
Press Release
August 25, 2022
2 minute read

NJEDA Now Accepting Applications for New Asset Activation Planning Grant Program


Entities Statewide Can Receive up to $50,000 to Plan for the Redevelopment of Public Assets

TRENTON, N.J. (August 25, 2022) – The New Jersey Economic Development Authority (NJEDA) is currently accepting applications for the New Jersey Asset Activation Planning Grant Program. This program offers grants to New Jersey communities and stakeholder groups to fund early-stage planning work focused on catalytic redevelopment and the adaptive reuse of vacant and underutilized public assets. With an award pool of up to $400,000, the New Jersey Asset Activation Planning Grant Program offers New Jersey public, private, and nonprofit entities grants of up to $50,000 for innovative projects that both revitalize community assets and drive equitable community growth. A link to the application can be found at https://www.njeda.gov/asset-activation-planning-grant/.

“In the wake of the COVID-19 pandemic, we have seen a fundamental shift in how we approach repurposing distressed and vacant assets,” said NJEDA Chief Executive Officer Tim Sullivan. “Under Governor Phil Murphy’s leadership, we continue to focus on supporting the creation of vibrant and inclusive cities and neighborhoods. Grants awarded through this program will strengthen the awardees’ ability to transform local underutilized public assets, which will lead to equitable growth opportunities in several New Jersey communities.” 

Projects must target distressed public assets, unutilized or underutilized public property, or unutilized public lands owned by a New Jersey municipality, county, independent authority, bureau, commission, or other public body. Proposed plans may include, but are not limited to, conceptual design, feasibility studies, and economic or market analyses. They should also demonstrate a strong connection to the State’s development objectives by creating or catalyzing a new business sector or target industry, driving economic growth and equity, creating an innovative use for an asset, expanding access to public transportation or public services, attracting employers and a diverse, talented workforce, expanding entrepreneurial opportunities and support local businesses, and/or improving land use efficiency and sustainability.

Applications for the New Jersey Asset Activation Planning Grant Program are being accepted until October 24, 2022, and will be reviewed and scored on a first-come, first served basis. Applications will be scored on asset impact, community engagement, previous experience, and other factors. A complete list of eligibility and scoring criteria can be found at https://www.njeda.gov/asset-activation-planning-grant/.

Funding for the program is being provided through the NJEDA’s Economic Recovery Fund.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness. NJEDA is developing the Wind port on behalf of the State.

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 FacebookTwitter, Instagram, and LinkedIn.

###

SHARE

Related Content

Press Release

June 18, 2024

Over $9 Billion in Economic Impact Credited to NJEDA’s North Brunswick Incubator

NORTH BRUNSWICK, N.J. (June 18, 2024) – The New Jersey Economic Development Authority (NJEDA) today released findings from the NJ Bioscience Center Incubator (BCI) IMPACT Study, a report seeking to understand and quantify the economic impacts of the incubator and the companies it has hosted and nurtured.

Press Release

June 17, 2024

Mixed-Use Development in Downtown Newark Approved for NJEDA Aspire Awards

TRENTON, N.J. (June 17, 2024) – Last week, the New Jersey Economic Development Authority (NJEDA) Board approved a mixed-use residential development project in Newark for Aspire tax credits.

Press Release

June 14, 2024

Murphy Administration Unveils Proposal to Spur Transit-Oriented Development and Bolster NJ TRANSIT

TRENTON, N.J. (June 14, 2024) – The Murphy Administration today unveiled a legislative proposal that would direct the New Jersey Economic Development Authority (NJEDA) to purchase up to $100 million in property from NJ TRANSIT to help expand commuter hubs across the state and meet a variety of critical needs.