T
he New Jersey Economic Development Authority (NJEDA) is now accepting applications for the Real Estate Gap Financing Grant Program. This $10 million pilot program aims to support development projects in distressed municipalities and mitigate the economic impacts of the COVID-19 pandemic.

    Eligible projects include commercial, office, manufacturing, non-profit, cultural arts, performing arts, and mixed-use developments located in 25 designated municipalities. The grant funding will cover up to 50% of total eligible project costs, with a minimum of $500,000 and a maximum of $5 million per project.

    Applications are now being accepted and will close on January 8, 2025, at 5:00 p.m. An informational webinar is available for interested parties to view. The NJEDA serves as the State's principal agency for driving economic growth, focusing on inclusive and sustainable development strategies to build strong communities, create jobs, and provide pathways to a stronger economy.

    For more information about NJEDA resources for businesses, call 844-965-1125 or visit njeda.gov. Follow @NewJerseyEDA on social media platforms for updates and news.