The New Jersey Economic Development Authority (NJEDA) has approved an additional $500,000 to expand the Route 80 Business Assistance Grant Program. This program is designed to support small businesses that have experienced a decline in revenue due to detours from ongoing sinkhole repairs on Route 80. Initially focused on Morris County, the eligibility requirements now include small businesses within five miles of Exit 34, regardless of county.
Governor Phil Murphy highlighted the challenges faced by these businesses: “Small businesses along Route 80 have faced tremendous challenges due to its closure over the past couple of months for ongoing sinkhole repairs.” He emphasized that the newly approved funds will provide much-needed support.
NJEDA Chief Executive Officer Tim Sullivan reiterated the commitment to supporting affected businesses: “The ongoing Route 80 detours have put a financial strain on small businesses in the area and the NJEDA remains committed to supporting the businesses that have been most impacted.”
Eligible applicants are small businesses and non-profits with up to 50 full-time employees. They must certify a negative financial impact of at least $1,000 for the first quarter of 2025. Businesses previously funded through this program cannot reapply. Applications for this phase are expected to open by month’s end.
Senator Parker Space (LD-24) expressed his support for expanding assistance: “With funding now available for impacted businesses in Hopatcong, the Business Assistance Grant Program is expanding its support.”
Assemblyman Michael Inganamort (LD-24) appreciated NJEDA’s collaborative approach: “Sinkholes don’t respect county or municipal boundaries, and neither should relief for small businesses.”
Assemblywoman Dawn Fantasia (LD-24) acknowledged progress made: “I appreciate that businesses in Hopatcong within the five-mile radius are now eligible for the NJEDA grant program.”
