Source: NJB Magazine —
The New Jersey Economic Development Authority (NJEDA) announced a $75 million extension of the commercial component of the Economic Redevelopment and Growth (ERG) Program. The Authority also announced that the extended Residential ERG Program, which began accepting applications in June, has been expanded from $50 million to $125 million. More information about the ERG Program is available at https://www.njeda.com/erg.
“Thanks to the foresight of Gov. Phil Murphy and the Legislature in reopening the ERG Program, essential commercial and residential projects throughout New Jersey will be able to move forward while the new programs created by the Economic Recovery Act are under development,” said NJEDA Chief Executive Officer Tim Sullivan. “These programs will drive economic growth and attract new businesses and workers to New Jersey. This is always important, but it is especially crucial now as we begin recovering from the economic impacts of COVID-19.”