County Executive DeGise and Mayor Fulop announce nearly 600 Small Businesses to be Awarded a total over $9 million in CARES Act Grants
Small Business Grants Distributed across the City to Help Struggling Stores Reopen and Remain Open after Pandemic Causes Months of Closures and Lingering Limitations
JERSEY CITY – Mayor Steven M. Fulop joined Hudson County Executive Tom DeGise on Thursday to announce 594 grants were being awarded to small business owners throughout Jersey City to provide direct funding and support to those most in need in the wake of the COVID-19 pandemic. The checks, worth upwards of $20,000 each, were individually handed to each business owner.
Jersey City is the recipient of $9 million from the Coronavirus Aid Relief and Economic Securities (CARES) Act stimulus funds to directly benefit small businesses with 25 or fewer employees, to which Hudson County was allocated a total of over $117 million. The CARES Act was signed by the President in March to provide $2 trillion in financial aid to communities across the nation that have been impacted the most by the health and economic crisis.
“Every business is important. Every local employee they can retain and hire back is important. We’re grateful to the county and to our congressional delegation who fought for this money so that we can provide local business owners with the tools they need to recover as quickly as possible,” said Mayor Fulop. “This financial aid will be the boost most of these small businesses need in order to reopen and remain open for business, ultimately regenerating our local economy.”
“I’d like to thank our federal delegation, led by Senator Robert Menendez, for securing these monies that are a lifeline for Hudson County so that our small businesses can hit the restart button,” said Hudson County Executive Tom DeGise.
Of the nearly 600 grant recipients, approximately 300 of the businesses are located in the City’s west side and Heights sections, another 200 are within the downtown business district, and approximately 80 business owners from the Greenville section. Jersey City businesses with 25 or fewer employees that are home-based, mobile, or brick and mortar were eligible for the grants.
Based on criteria developed by Hudson County, applications were reviewed by the Jersey City Economic Development Corporation (JCEDC) to determine eligible expenses, which include employee salaries (capped at $2,000 per employee), salary of sole proprietor or principal (capped at $2,000), mortgage or rent payments, loan payments, equipment leases, and utility payments incurred since March.
“Having been a part of the selection process, I’m confident the nearly 600 business owners will put the funding we’re providing to the best possible use, whether it’s rehiring employees they had to let go, or paying overdue bills that continued to pile high while they were closed for several months,” said Rosemary McFadden,JCEDC Chair. “The JCEDC will continue to work with the Mayor and Administration to provide the financial relief our businesses and residents are relying on as we continue forward with this recovery process.”
This small business grant distribution is the latest step to move Jersey City forward as we work with residents and businesses to safely reopen and recover. From expanding outdoor dining, to installing Slow Streets and Pedestrian Plazas, to offering free testing and supplies to residents and businesses, the Administration has been working diligently since day one to identify areas where the assistance is needed from the city level. The Mayor’s COVID-19 Relief Distribution Fund has also raised millions in private donations to directly support community-based nonprofits, youth and arts programming, as well as services and grant support to low-income residents impacted by the pandemic.
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