NJEDA Opens Applications for New Emerging Developers Grant

TRENTON, N.J. (June 24, 2024) – Applications for the New Jersey Economic Development Authority’s(NJEDA) $20 million Emerging Developers Grant pilot program are now open. This program will help developers gain access to capital and build additional capacity to expand their existing portfolio by providing grants of up to $250,000 for pre-development soft costs.

WHAT:             The Emerging Developer Grant program aims to address various difficulties that continue to be a constant burden to emerging developers, which limit opportunities to expand their portfolios.

WHO:              The program will support small-scale developers that have completed at least two – but no

more than five – commercial and/or mixed-use properties of similar scope. Developers interested in applying can take an eligibility assessment here.

WHEN:           Applications for the program are open and can be accessed here. Applications will be accepted on a rolling basis or until funds have been completely exhausted.

For More Information:

                       Visit: www.njeda.gov/emerging-developers/

                       Email:  emergingdevelopers@njeda.gov

About the NJEDA

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.

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.