The New Jersey Economic Development Authority on Wednesday announced that $10 million in funding has been allocated for the creation of the Small Business Liquor License Grant Program.
Up to $100,000 in grant funding will be made available to reimburse eligible small businesses that have purchased an inactive plenary retail consumption liquor license within the past 12 months, supporting the reactivation of over 1,300 inactive licenses.
“The Small Business Liquor License Grant program is an important step in removing financial barriers for our small businesses and will give them the opportunity to grow and transform their business with a liquor license,” Gov. Phil Murphy said. “I was proud to sign legislation earlier this year to overhaul New Jersey’s outdated liquor license laws. This is another step toward eliminating obstacles and helping small businesses thrive.”
“Under Governor Murphy’s leadership, the NJEDA has prioritized the support of small businesses through the Main Street Recovery Finance Program, ensuring that entrepreneurs across the state have the tools and funding they need to thrive,” NJEDA Chief Executive Officer Tim Sullivan said. “The Small Business Liquor License Grant will relieve the negative financial burdens of obtaining a liquor license, unlocking economic opportunity for restaurant owners and contributing to the post-pandemic vitality of New Jersey’s main streets.”
In January, Murphy signed legislation overhauling the state’s outdated liquor license laws, which aims to increase the number of available liquor licenses statewide by revitalizing inactive licenses.
Forty percent of grant funding will be reserved for applicant businesses located in eligible Opportunity Zone census tracts. Applications are expected to open in early 2025. For more information, including eligibility requirements, click here.
The Small Business Liquor License Grant is part of a suite of programs offered under the Main Street Recovery Finance Program, which aims to support the growth and success of small businesses in New Jersey. For more information on the NJEDA’s small business support programs, click here.
