EDA: Sandy aid means economic development opportunities

TRENTON – CEO Michelle Brown said the Economic Development Authority will play an active role in making sure the $50.5 billion Sandy relief aid that was approved by Congress and President Barack Obama is spent wisely on the recovery and rebuilding efforts.

The EDA has been put in charge of the economic development component of the action plan that will be submitted to the Department of Housing and Urban Development.

Some $1.83 billion in Community Development Block Grants is expected to go to the Department of Community Affairs, which is expected to use that money for homeowner assistance programs and helping businesses reopen. The money will be both in the form of grants and loans.

Brown also said the money will be used in launching an “aggressive” marketing campaign telling people that the Jersey Shore is open again.

Some legislators have introduced bills to put nearly $20 million toward an advertising campaign to get the word out to potential travelers that much of the Jersey Shore is up and running again.

 

EDA: Sandy aid means economic development opportunities