U.S. EDA invests $960K to support construction business development in Newark 

United States fifty dollar bill with the United States Capitol building close up

A $960,000 grant that will connect socially and economically disadvantaged contractors and businesses to large-scale infrastructure projects has been awarded to the Enterprise Center in Philadelphia to establish the Infrastructure Innovations and Business Opportunities Center in Newark.

This U.S. Department of Commerce’s Economic Development Administration grant will be matched with $240,000 in local funds, and is expected to create 100 jobs and generate $50 million in private investment, according to grantee estimates.

“The Economic Development Administration is pleased to provide targeted, place-based grants designed to support local business development,” Assistant Secretary of Commerce for Economic Development Alejandra Castillo said. “The new facilities will provide local contracting firms with the resources necessary to procure large-scale infrastructure projects in northern New Jersey and New York City, creating jobs and economic diversification in the region.”

“New Jersey thanks the (President Joe) Biden administration for its significant support and looks forward to welcoming the Enterprise Center to the Garden State’s largest city,” Gov. Phil Murphy said. “This Economic Development Administration grant will generate tens of millions of dollars in private investment as we continue to modernize and bolster critical infrastructure in one of the most important transportation corridors in the world. Most importantly, the Infrastructure Innovations and Business Opportunities Center will complement my administration’s efforts to expand economic opportunity by connecting historically disadvantaged contractors to projects and generating family-sustaining jobs.”

“All across northern New Jersey, small businesses are struggling with ongoing challenges,” U.S. Sen. Bob Menendez (D-N.J.) said. “Grants like these are critical to providing the funding and resources necessary to not only create good paying jobs for New Jerseyans, but also generate large-scale infrastructure projects to support communities in the region.”

“I am excited to hear that the EDA will provide funding to create a new Infrastructure Innovations and Business Opportunities Center in Newark,” U.S. Rep. Donald Payne Jr. (D-10th Dist.) said. “I have been a strong supporter of actions to create more opportunities for women and minority-owned businesses.”