The New Jersey Economic Development Authority has approved financial assistance to Passaic-based Vidal Travel through its small business support program, a part of its Garden State Growth Zones initiative.
Vidal Travel, a travel service and tax preparation company located on Main Avenue and Prospect Street in Passaic, is the first company to receive assistance through the program. The program offers grants of up to 50 percent of total project costs, up to a maximum of $20,000 for improvements. Vidal Travel will use the $20,000 to improve its sidewalk and enhancing the surrounding city landscape.
The GSGZ program was authorized and launched last year by Gov. Christie through the New Jersey Economic Opportunity Act, which in turn established the Business Lease Incentive and Business Improvement Incentive programs. Its purpose is to health small businesses and their surrounding areas in state designated growth zones, which include Atlantic City, Camden, Passaic, Paterson and Trenton.
“We hope business owners in eligible areas will consider applying for the BLI and BII programs to assist them in establishing or improving their businesses,” said Tim Lizura, EDA’s COO, in a press release. “These programs help position businesses to take advantage of the uptick in foot traffic where increased investment and economic activity are already underway, driven by programs the EDA administers.”