State grants available to small businesses

POINT PLEASANT — The borough of Point Pleasant is anticipating a major facelift along its commercial corridors over the next few years, and the mayor and council are encouraging local businesses to get in on the changes.

The mayor shared next steps to be taken, which will carry on the momentum of plans to reduce traffic congestion by eliminating the head-on parking at Lenny’s Colonial Ranch and installing a public parking lot at the Tree Needle Road triangle.

“The next phase is trying to get some of the businesses along Bridge Avenue and Route 88 to update their existing buildings. Some of the owners have owned these properties for decades and we would like them to make some improvements to modernize the center of our town. While we can’t force them, we certainly can make them aware of opportunities to make capital improvements at a significant savings to them.”

Sabosik explained that the New Jersey Economic Development Authority (NJEDA) has launched a small-business improvement grant program.

“Basically, a small business owner, renter or nonprofit can apply for a grant to make capital improvements such as new signage, new siding, new windows, etc. for a reimbursement of up to 50% of eligible total projects costs up to $50,000,” said Mayor Sabosik. “So if you own or rent a commercial building in Point Pleasant and for argument’s sake, you have a $100,000 improvement project going on, you can potentially get half of that reimbursed. The program itself is being funded via $60 million dollars from the Main Street Recovery Finance Program.”

Council President Antoinette DePaola said, “It’s important that our local businesses know this is available. It’s on a rolling application basis and will continue until all the funds from the project grant run out at the state level, so we need local businesses to act on this rather quickly. We will be sending letters to each commercial business owner in town along with asking the Chamber of Commerce to help assist us in getting the word out.”

The Point Pleasant Chamber of Commerce shared the borough’s press release in an email to its members last week.

Borough Administrator Frank Pannucci wanted to remind local businesses this is a state grant and not a local grant. He also commended the mayor and council for bringing this to the attention of the town and its small businesses.

All information on this grant can be found at njeda.gov and key word the “Small Business Improvement Grant – NJEDA.”

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