The Trustees of the Ocean Wind Pro-NJ Grantor Trust, an independent fund established by Ocean Wind 1, opened its next grant funding round for small, women-owned and minority-owned businesses in New Jersey that are looking for support to enter the offshore wind industry. Interested businesses are invited to submit Expressions of Interest (EOIs) for consideration.
“As the offshore wind industry continues to grow in New Jersey and the region, the Trust remains committed to providing the capital and opportunity to ensure the offshore wind industry is developed in a sustainable and inclusive way for small, women-owned and minority-owned New Jersey businesses,” said Beverly McCall, Esquire, chairperson of the Pro-NJ Grantor Trust.
To help improve access to funds, the Trustees determined the best way for that to occur is for interested businesses to submit EOIs prior to submitting formal applications. The submission window for EOIs begins on Monday, June 5. Small, women-owned and minority-owned businesses based in New Jersey may pursue the first step in the process by visiting www.pronjtrust.org and downloading the Request for Expressions of Interest now. Once the EOIs are reviewed by the Trustees and members of the Advisory Committee, qualified applicants will be invited to submit formal proposals.
The initial window to submit EOIs is set for five weeks and will be accepted through 3 p.m. on Monday, July 10, and may be extended depending on the number of EOIs received.
The following list represents some, but not all the fields the Trust seeks to support:
An independent entity, the Pro-NJ Grantor Trust was established by Ocean Wind 1 with a pledge of $15 million over a 7-year period, following the selection of the project by the New Jersey Board of Public Utilities in June 2019 as the state’s first offshore wind farm. The Trust’s goal is to ensure that the offshore wind industry in New Jersey is developed in a sustainable and inclusive way while also providing support for coastal resiliency projects in Atlantic, Cape May and Ocean counties.
This newest RFEOI marks the second round of funding to support small, women-owned and minority-owned business. In its initial round of funding, the Trust provided grants totaling nearly $450,000 to six small, women-owned and minority-owned businesses. In 2022, the Trust awarded $3.9 million to seven municipalities in support of coastal infrastructure and resiliency projects.
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