The New Jersey Economic Development Authority (NJEDA) has approved an additional $500,000 to expand the Route 80 Business Assistance Grant Program. This expansion aims to support more small businesses experiencing revenue declines due to detours from ongoing sinkhole repairs near Exit 34.
Initially, the program was limited to small businesses in Morris County most affected by the highway closure, with an initial funding of $5 million already allocated. The NJEDA board's recent decision will allow reopening of the application process later this month with new eligibility criteria. Now, small businesses located within five miles of Route 80’s Exit 34 in Wharton can apply, regardless of their county.
Previously ineligible businesses in Hopatcong, Sussex County, which fall within this radius and have also suffered sales declines due to the sinkholes, can now apply for grants ranging from $1,000 to $15,000. The application portal is set to reopen later this month.
Eligible applicants include small businesses and nonprofits 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 in Morris County that have already received a grant through the program cannot apply for a second grant when it reopens.
“Small businesses along Route 80 have faced tremendous challenges due to its closure over the past couple of months for ongoing sinkhole repairs,” said Gov. Phil Murphy. “The additional $500,000 approved by the NJEDA Board for the Route 80 Business Assistance Grant Program will provide urgently needed support for these businesses."
NJEDA CEO Tim Sullivan noted that since launching in April, the program has delivered $1 million to small businesses in Morris County and continues making approvals daily. The NJEDA aims to ensure that these newly approved funds reach those who need them most.
Legislators from District 24, including Hopatcong, expressed gratitude towards NJEDA’s efforts to assist all nearby businesses affected by sinkhole repair work across county lines.
“Sinkholes don’t respect county or municipal boundaries, and neither should relief for small businesses,” stated Assemblyman Michael Inganamort (R-24). “In speaking directly with CEO Tim Sullivan, he understood our concerns and was willing to work collaboratively with us on a helpful solution."
“I appreciate the NJEDA’s teamwork on this important request of ours because our small businesses are still hurting as a result of the heavy traffic caused by the sinkhole,” Inganamort added. “We have a lot of work ahead of us, but this is a meaningful step in the right direction.”
