Latest news with #Route80BusinessAssistanceGrantProgram
Yahoo
15-04-2025
- Business
- Yahoo
Grant application help available for businesses near I-80
NEW JERSEY (PIX11) — For three days, New Jersey's Economic Development Authority is hosting informational sessions about possible grants for small businesses impacted by the I-80 sinkholes. Monday's meeting will be in person, with virtual sessions being held on Tuesday and Wednesday. More Local News The Route 80 Business Assistance Grant Program will provide grants ranging from $1,000 to $15,000 to businesses and non-profits within a 5-mile radius of the sinkhole. To apply, businesses cannot have more than 50 full-time employees and must be able to show at least $1,000 in negative financial impact for the first quarter of 2025. Arledy Arroyade, the owner of Colossal Restaurant in Wharton, is hoping to take advantage of the EDA's grant money to help pay her bills. 'We have a lot of people waiting for payments and don't have that money,' said Arroyade. 'It definitely means a lot,' said Yazan Muheisen, owner of Pop's Bagels in Wharton. 'Our losses are a lot greater than that, but every little bit helps. Payroll has been really tough during these couple of months,' said Muheisen. NJ businesses around I-80 sinkhole get creative to get customers in The maximum $15,000 wouldn't be nearly enough to entirely cover a business's losses, but it would certainly help. 'I know I just got my gas bill and it was $5,200,' said Peter Sedereas, owner of Townsquare Diner in Wharton. 'My water bill was $1,800. My electric bill just came in. It was $3,900. So that $15,000 will go pretty quickly.' What business owners need most is a steady stream of customers – something they can only achieve once I-80 is back open. 'We need the highway to reopen,' said Sedereas. 'Once the highway reopens, we'll be fine.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
07-04-2025
- Business
- Yahoo
N.J. I-80 sinkhole saga has end date, fully reopened by June 25
There's an end in sight to New Jersey's I-80 sinkhole saga, officials have announced, as aid comes to affected small businesses in the area. Interstate 80 has been closed, in one or both directions, just north of Wharton, in Morris County, since February, and faced repeated repair delays as more sinkholes opened up. As repairs progressed, others followed, closing down more and more lanes. At one point, there was no timeline at all for reopening. But last week, officials dropped dates for reopening the entire highway by the end of June. May 4 should see the two westbound lanes reopened, followed by the two eastbound ones on May 18 and 'full restoration of all lanes in both directions' by June 25, state Assemblywoman Aura Dunn said in a statement. 'NJDOT is bringing in expert teams and employing infrastructure-sensitive methods to ensure the repairs are not only effective, but designed to support long-term stability and safety for the roadway,' Dunn said. 'I know how frustrating this situation has been for residents and commuters, and I want to thank you for your continued patience.' The precursor to the current headache, which has snarled commuter traffic and clogged work-around roads, came in December, when a sinkhole opened up in the roadway the week before New Year's. Another opened in February at almost the same spot. Small businesses affected by the closures can apply for low-interest loans of up to $2 million from the U.S. Small Business Administration. In addition, Gov. Phil Murphy is working to establish a $5 million grant program, the Route 80 Business Assistance Grant Program, for affected businesses and nonprofit organizations, a measure the New Jersey Economic Development Authority (NJEDA) board is slated to vote on this week. 'It's been a grueling several weeks for Morris County business owners located off the Route 80 corridor. From Wharton to Roxbury, small businesses have had fewer customers, resulting in a decline in sales and revenue. I'm happy to announce today that help is on the way,' Murphy said in a statement. 'The NJEDA's planned grant program, paired with the U.S. Small Business Administration's Economic Injury Disaster Loans, will inject much-needed capital into small businesses. We are committed to doing this as swiftly as possible to ease the burden on local businesses.'
