Translate
Facebook
Twitter
Instagram
LinkedIn
Soundcloud
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.com/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.com/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.com and follow @NewJerseyEDA on FacebookTwitter, Instagram, and LinkedIn.

###

SHARE

Related Content

Press Release

October 4, 2022

NJEDA Expands Funding for New Jersey Corporate Tax Credit Auction in Response to High Demand

Trenton, N.J. – The NJEDA today announced the amount of tax credits available through the tax credit auction phase of the New Jersey Innovation Evergreen Fund (NJIEF) will increase to $50 million.

Press Release

September 30, 2022

CSIT to Launch New Round of Financial Support for Startups

TRENTON, N.J. (September 30, 2022) – New Jersey startups that are currently involved with, or applying to, the federal Small Business Innovation Research (SBIR) and/or Small Business Technology Transfer (STTR) programs will soon have access to an additional...

Press Release

September 30, 2022

NJEDA Has Approved Over 500 NJ Businesses for Small Business Improvement Grant Funding

Trenton, N.J. – The NJEDA today announced that its Small Business Improvement Grant has awarded close to $13 million to over 500 small businesses in the Garden State since it launched this February.