$10M Ida Storm Aid Proposed For Small NJ Businesses: Murphy

NEW JERSEY - Small businesses impacted by the severe effects of Tropical Storm Ida on Wednesday may be eligible for up to thousands of dollars in aid as part of a proposed $10 million relief package announced by Gov. Phil Murphy.

During a Friday morning news conference in Millburn, the governor announced that immediate aid grants from $1,000 up to $5,000 per businesses are slated to be available through the New Jersey Economic Development Authority, noting that the package is separate from federal aid that may be provided to small businesses in the future.

The grants aim to provide short-term, immediate rent or mortgage reimbursement support to businesses and non-profits with up to 50 employees that suffered physical damage from the storm or any additional flooding thereafter.

Landlords and home-based businesses will not be eligible for grant funding through the program.

A website for eligible grant recipients is forthcoming, Murphy said. More details are expected to be released next week.

“We needed to act quickly to assist small businesses impacted by Wednesday’s storm. With many businesses still on the brink of closure due to the financial impact of the pandemic, without assistance the storm damage could push them over the edge,” said Senate President Steve Sweeney. “These grants will provide a critical lifeline to small businesses and nonprofits around the state.”

Murphy noted that he has already spoken with President Joe Biden and FEMA to request emergency funding. As of Friday morning, the state has already received a Major Disaster Declaration, meaning that emergency aid equipment has already been received and additional assessments regarding more aid for the state are now underway. Read more: Ida In NJ: At Least 23 Deaths, 3 Tornadoes Confirmed

“If you’ve been crushed and you can prove it, you’re eligible,” Murphy said. “Right now, regardless of what funding we might get down the road, our small business owners are still in the process of pumping out water, cleaning up and taking stock. If you do this, please take the time to document the damage with photographs, receipts from vendors who are assisting with the cleanup - whatever evidence you have, both for your own insurance purposes as well as for accessing our grants. Help is coming.”

"We'll have this money on the street as fast as we can because we know that insurance and federal programs are well-meaning but they can take time," said Tim Sullivan, the Chief Executive Officer of the New Jersey Economic Development Authority. "Small businesses ... they need help right now."

To be eligible for grant funding, an applicant must:

• Provide certification of an unmet need due to damage and/or business interruption
• Provide documentation of physical damage to the applicant’s physical commercial location
• Present a valid Employer Identification Number (EIN)
• Submit recent wage reporting form (WR30), if applicable
• Be registered to do business in the State of New Jersey
• Be in good standing with the Department of Taxation
• Additional requirements may apply

Grants may be provided in the form of August rent or mortgage reimbursement with a $1,000 minimum rent eligibility. To ensure grants reach businesses in the hardest hit communities - including communities of color - one-third of the $10 million in funding available through the program will be targeted to businesses with a primary business location within designated opportunity zones, according to a press release from the state.

In his remarks, Murphy stressed the impact of climate change on the Garden State and the increased frequency and strength of storms in the region.

"This conversation is one that we will continue having, probably for the rest of our lives," Murphy said. "But the unfortunate reality is that sudden and intense rainfall is exactly one of the circumstances that New Jersey's climate scientists have predicted."

The governor added that, while the state is still awaiting federal money to take larger steps towards climate resiliency, New Jersey has already poured money into storm-resistant infrastructure, including $1.5 billion into water infrastructure over the past three years (with $1 billion more to come in the next year) as well as $22 million new dollars included in the latest state budget for flood resilience projects.

"It's clear that we have a lot more work to do," Murphy said. "I quote that great philosopher from the movie Jaws: 'We need a bigger boat.'"

Announcing $10 million in relief for small businesses impacted by Tropical Storm Ida. WATCH LIVE: https://t.co/i34wiTz1Cd
— Governor Phil Murphy (@GovMurphy) September 3, 2021