(The Center Square) – Gov. Phil Murphy plans to allocate $10 million in relief to New Jersey small businesses impacted by Tropical Storm Ida.
Small businesses and nonprofit entities with up to 50 employees can apply for $1,000 to $5,000 grants for short-term, immediate rent/mortgage reimbursement through the proposed grant program. A third of the $10 million will be targeted to businesses in an Opportunity Zone.
The state reported 25 people died in the storm, and at least six people are still missing. President Joe Biden approved an emergency declaration for New Jersey, opening the door for federal assistance.
“Now that the skies have cleared, we are eager to get to work on helping those who are waking up to harsh economic realities reclaim their livelihoods and mitigate Ida’s financial impacts to their businesses and the hardworking people they employ,” Murphy said in a news release.
The New Jersey Economic Development Authority (NJEDA) will administer the program. Landlords and home-based businesses are not eligible for the program’s funding.
New Jersey’s congressional delegation vowed to push for federal money to help with recovery efforts.
“We have already been in contact with multiple state and federal departments and agencies to immediately begin aiding in the recovery efforts,” U.S. Rep. Jeff Van Drew, R-N.J., said in a news release. “We will also be working with our New Jersey U.S. Senators and members of the New Jersey delegation to ensure we receive all of the funding necessary to restore our community.”