HUDSON COUNTY MANUFACTURING BUSINESS REBUILDS CRUCIAL MACHINERY THROUGH STRONGER NJ BUSINESS GRANT PROGRAM
Trenton, NJ –The New Jersey Economic Development Authority (EDA) today joined with Assembly Speaker Vincent Prieto to visit Stronger NJ Business Grant recipient Custom Steel Contractors in Kearny to see firsthand how the company’s grant has contributed to its recovery from Superstorm Sandy.
Located in the Kearny Point Industrial Park, Custom Steel has been serving the construction industry for nearly three decades. The company’s clients include St. Joseph’s Hospital, the Newark Renaissance Building and various other municipal and business organizations. Most of the equipment Custom Steel needed to function was destroyed by five feet of storm surge, including computer controlled equipment and six trucks.
“A very specialized drilling machine critical to our operations was destroyed,” said Dan Moran, President, Custom Steel. “Our Stronger NJ Business Grant has helped us cover part of the cost of rebuilding that equipment, and we’re now on track toward having one of our best years yet.
“It’s exciting to see Sandy-impacted businesses like Custom Steel successfully recovering from the storm and in this case – coming back even stronger than before,” said EDA Chief Executive Officer Michele Brown. “The manufacturing sector plays an important role in New Jersey’s economy and we are pleased that the Stronger NJ grant is helping to support Custom Steel’s continued success in the State.”
To date in Hudson County, 36 grants totaling $1.6 million have been approved. Statewide, over 430 businesses have been approved for grants and loans totaling more than $48 million. Additionally, EDA has recommended the approval of eleven municipalities for $10 million in Streetscape grants under the Stronger NJ Neighborhood and Community Revitalization (NCR) program.
The Stronger NJ 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).