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The New Jersey Economic Development Authority (NJEDA) has approved an additional $500,000 to expand the Route 80 Business Assistance Grant Program, providing more financial aid to small businesses affected by sinkhole issues on Interstate 80. Originally focused on Morris County, the program now includes businesses within a five-mile radius of Exit 34, regardless of county, such as those in Hopatcong, Sussex County.
Eligible small businesses and nonprofits with up to 50 full-time employees can apply for grants ranging from $1,000 to $15,000. To qualify, applicants must certify a negative financial impact of at least $1,000 for the first quarter of 2025. The application window will open on May 29 and close on June 4, 2025. Businesses that have already received funding through the program cannot apply again.
Governor Phil Murphy emphasized the importance of this expansion, stating, "The additional $500,000 approved by the NJEDA Board will provide urgently needed support for these businesses." NJEDA CEO Tim Sullivan noted that since the program's launch, $1 million has already been distributed to Morris County businesses, with approvals continuing daily.
Assemblyman Michael Inganamort (R-24) highlighted the collaborative effort to extend relief beyond county lines, acknowledging the ongoing challenges businesses face due to the sinkhole repairs. The NJEDA remains committed to ensuring these funds reach the businesses that need them most.