The New Jersey Economic Development Authority (NJEDA) released for public feedback a draft rule proposal for the Aspire Program, as established under the New Jersey Economic Recovery Act of 2020 (ERA). The Aspire Program is a gap financing tool to support commercial, mixed use and residential real estate development projects.
Members of the public are encouraged to review the preliminary rules and submit written feedback through an online form available on the Economic Recovery Act website. The NJEDA will also be hosting two listening sessions for public input on the draft rules.
“As we recover from the COVID-19 pandemic, it is crucial that we support new investments in our communities,” said NJEDA Chief Executive Officer Tim Sullivan. “The Aspire Program will facilitate equitable, community-supported residential and commercial development projects that make our communities vibrant live, work, play destinations that better serve residents and help attract successful companies and top-notch talent.”
Members of the public can also provide input during the NJEDA’s public listening sessions, which are scheduled for the following times:
- Friday, September 17 at 3:00 p.m.
- Monday, September 20 at 3:00 p.m.
Members of the public can access the listening sessions at
Members of the media interested in attending the session or submitting questions are asked to email media@njeda.com.
In addition to the Aspire Program, the ERA creates a suite of programs that includes tax credits to incentivize job creation, new construction and revitalization of brownfields and historic properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early stage companies in New Jersey; and support for the growing film and digital media industry. The NJEDA will continue to engage the public as new programs and rules are developed.
