NJEDA Launches RFI To Strengthen Emerging Developers Grant Program
The New Jersey Economic Development Authority (NJEDA) has issued a Request for Information (RFI) to gather insights from qualified entities on how to improve the Emerging Developers Grant Program, broaden eligibility, and better support small-scale developers. Originally launched in 2024, the program was created to help developers gain access to capital and build additional capacity to expand their existing portfolio by providing grants of up to $250,000 for pre-development soft costs.
“Under Governor Phil Murphy’s leadership, New Jersey has expanded resources for small businesses and small-scale developers, eliminating barriers to capital and creating a more equitable economic landscape,” said NJEDA Chief Executive Officer Tim Sullivan. “With an expanded Emerging Developers Grant Program, the NJEDA will be better positioned to open pathways to vital capital for new developers, catalyzing economic opportunity in underserved communities and bolstering small businesses throughout the state.”
“The NJEDA continues to support Governor Murphy’s goal of creating a more inclusive and equitable economy in New Jersey by expanding opportunities for small businesses and residents of underserved communities,” said NJEDA Chief Community Development Officer Tai Cooper. “The next iteration of the Emerging Developers Grant Program will break down barriers to capital and resources for small-scale developers, resulting in projects that will transform communities and contribute to the vibrancy of our main streets.”
To date, the NJEDA has awarded 50 grants totaling more than $5.4 million to small scale-scale developers through the initial phase of the Emerging Developers Grant Program. This funding is helping new developers across the state expand their portfolios and access much-needed capital.
Gotta Go Gaming, based in Jersey City, utilized $250,000 in funding to cover critical soft costs for its Sci Tech and Esports Hub, paying for architectural designers, funding consulting fees, and covering interior decorating and design work. Gotta Go Gaming previously received support through the NJEDA’s Main Street Micro-Business Loan and the Small Business Emergency Assistance Grant Program.
“Without this support, many of these foundational elements would have been challenging to complete in a timely manner. Thanks to NJEDA’s assistance, we are well-positioned to bring this project to completion and to deliver on its vision for community impact,” said Gotta Go Gaming Chief Executive Officer John Robinson. “We greatly appreciate NJEDA’s commitment to supporting developers and community growth.”