The New Jersey Economic Development Authority (NJEDA) announced that in 2024 it issued more than $32 million in grants and loans to more than 1,200 small businesses through the Main Street Recovery Program. Created under Gov. Phil Murphy’s Economic Recovery Act (ERA), the Main Street Recovery Program provides a suite of products designed to support New Jersey small businesses.
Since the program launched in 2021, the NJEDA has awarded approximately $167 million to more than 5,000 small businesses across the state. Including the $700 million in pandemic relief that the NJEDA provided to small businesses before the Main Street Recovery Program launched, the Authority has distributed a total of nearly $1 billion to bolster small businesses throughout New Jersey.
“Under Governor Murphy’s leadership, New Jersey remains committed to supporting small businesses with a range of resources designed to equip them for success,” said NJEDA Chief Executive Officer Tim Sullivan. “When the pandemic struck, the NJEDA, through the Economic Recovery Act, worked tirelessly to develop programs that infused millions of dollars into New Jersey’s local economies. Today, the Main Street Recovery Program continues to assist thousands of small businesses by helping them grow, expand, and thrive.”
The Main Street Recovery Program was originally designed to help small businesses stay open during the pandemic and support their growth and success in its aftermath. Years after the height of the pandemic, the program is continuing to support mom and pop shops along New Jersey’s main streets.
The following programs are part of the Main Street Recovery suite:
“As a small business owner, we are often forced to choose one essential project over another because of financial limitations. I was truly honored that my business was selected to receive a grant for a new website, and I couldn’t be happier with the end results,” said Cranford-based Reach for the Stars owner Lisa Jiannetto-Surrusco, whose business utilized NJEDA’s E-Commerce Program. “The grant enabled me to get this project done, while allocating the saved money for vital necessities like therapy and testing materials, professional development for the staff, and potential expansion of our menu of services.”
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