Governor Murphy signed bill A3845 which authorizes the New Jersey Economic Development Authority (EDA) to issue grants during periods of emergency declared by the Governor and for the duration of economic disruptions due to the emergency. This enacted legislation will allow for the EDA to provide grants to New Jersey businesses impacted by the COVID-19 pandemic.

Specifically, the legislation enables the EDA to make grants for the planning, designing, acquiring, constructing, reconstructing, improving, equipping, and furnishing of a project, including grants for working capital and meeting payroll requirements during periods of emergency declared by the Governor. The EDA is expected to develop grant programs to support financially distressed businesses within New Jersey directly impacted during the COVID-19 period of emergency. Businesses can click here for the EDA’s COVID-19 resource page which will provide information on these grants and other information for businesses.

We will continue to monitor these programs and provide additional information as it becomes available.

Len Nitti

Author Len Nitti

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