Opportunity zone grants may be coming to your town if they are on the ball and focused on growth. $100,000 may not be a significant sum for most towns, but when the State opens its coffers, smart municipalities know to get in line early as the competition is fierce. With a tough tax structure and New Jersey attempting to lure foreign businesses to set up shop here, time will tell if these monies will help the areas they are intended to benefit.
“Gov. Phil Murphy announced the state will award five $100,000 grants to the communities around the state that come up with the best game plan for how they plan to use…investments to better themselves. Murphy…said he hopes the state program will spur communities to quickly analyze their ability to create Opportunity Zone investment opportunities…the EDA will soon release a request for proposal and hopes to move quickly when awarding the grants.”