Grant

May 10 - 16, 2019

  • EDA announced one Public Works investment from May 10-16, 2019, for $3,000,000, which is matched by $1,300,000, in local investment, to the Town of Kearny, Kearny/Hudson County, New Jersey, to fund upgrades to infrastructure along Hackensack Avenue in a designated Opportunity Zone in Kearny, New Jersey. The upgrades include reconstruction of the roadway, construction of sidewalks and landscaping, lighting, and replacement of sewer, storm sewer, water and electric conduit. Once completed, the project will improve access to Kearny Point Industrial Park, which provides entrepreneurs and small businesses job opportunities and serves as the catalyst for development and economic diversification in the region. The grantee estimates that this investment will help create 7,000 jobs and leverage $1,000,000,000 ($1 billion) in private investment.