NJEDA approves grant program for small businesses following Henri and Ida

TRENTON, NJ — The New Jersey Economic Development Authority announced the approval of the Henri/Ida Business Assistance Grant Program at a special meeting of its board on Sept. 8. The $10.5 million program will provide grants of $1,000 to $5,000 for businesses and nonprofit organizations that suffered physical damage from the effects of recent storms Henri and Ida.

Gov. Phil Murphy has tasked the NJEDA with creating and administering the program, which will provide short-term, immediate rent/mortgage reimbursement support to New Jersey businesses and nonprofit organizations, with up to 50 full-time equivalent employees, that suffered physical damage from Tropical Storm Henri on Aug. 22 and 23, or from Hurricane Ida on Sept. 1, 2 and 3. More information about the Henri/Ida Business Assistance Grant Program is available at https://www.njeda.com/henri-ida-relief/.

“Countless New Jersey businesses endured the wrath of Tropical Storms Henri and Ida in recent weeks, and today’s action by the NJEDA’s board will allow us to move swiftly to help those businesses in need,” Murphy said. “Time is clearly of the essence and we are determined to get funds out to businesses and nonprofits as quickly as possible.”

The NJEDA has stressed to business owners and nonprofit leaders the importance of thoroughly documenting all physical damage as they prepare to apply for assistance through this and any future programs, including taking clear photographs and saving receipts for repairs and associated materials.

“The NJEDA shares Gov. Murphy’s sense of urgency as we work to provide support to small businesses and nonprofits dealing with the impact of Henri and Ida,” NJEDA CEO Tim Sullivan said. “The need for assistance is particularly dire, as these storms occurred just as New Jersey was emerging from the impact of the COVID-19 pandemic. It’s more critical than ever that we do our best to help impacted entities return to normal operations so they may continue their role as the economic drivers of New Jersey’s communities.”

The NJEDA expects to launch an online application for the program at 9 a.m. on Friday, Sept. 17, at https://www.njeda.com/henri-ida-relief/. Applications will be reviewed on a first-come, first-served basis.