Cape May County has been awarded a $3 million grant from the U.S. Department of Commerce's Economic Development Administration, U.S. Secretary of Commerce Wilbur Ross announced Tuesday.
The grant, which is expected to yield 130 jobs and a further $1.9 million in private investment, will assist with the building of a 20,000-square-foot building at the Cape May County Airport to satisfy unmanned aerial systems companies, a growing industry in the region.
Firms at the multitenant property will be provided with 5,000 square feet of office and manufacturing space.
U.S. Senator Robert Menendez, D-NJ, highlighted the potential of public-private partnerships in a statement praising the initiative.
“Building the new ‘tech village’ right at Cape May County Airport will not only immediately create good-paying jobs, the final training facility will empower entrepreneurs and businesses,” he said in a statement..
The South Jersey Economic Development District led planning efforts for the project.