The U.S Department of Commerce’s Economic Development Administration (EDA) awarded nearly $1 million on Sept. 12 to support construction business development here in New Jersey.

The $960,000 grant to the Enterprise Center in Philadelphia will establish the Infrastructure Innovations and Business Opportunities Center in Newark.

The award, which will be matched with $240,000 in local funds, is designed to connect socially and economically disadvantaged contractors and businesses to large-scale infrastructure projects in the region ramping up around via the Bipartisan Infrastructure Law.

Officials estimate the grant will create up to 100 jobs and generate $50 million in private investment.

In a press release announcing the award, the EDA said it was pleased to provide targeted, place-based grants designed to support local business development.

“The new facilities will provide local contracting firms with the resources necessary to procure large-scale infrastructure projects in northern New Jersey and New York City, creating jobs and economic diversification in the region,” said Alejandra Castillo, assistant secretary of commerce for economic development.

Gov. Phil Murphy thanked the Biden administration for this support.

“New Jersey looks forward to welcoming The Enterprise Center to the Garden State’s largest city. This Economic Development Administration grant will generate tens of millions of dollars in private investment as we continue to modernize and bolster critical infrastructure in one of the most important transportation corridors in the world,” said Murphy. “Most importantly, the Infrastructure Innovations and Business Opportunities Center will complement my administration’s efforts to expand economic opportunity by connecting historically disadvantaged contractors to projects and generating family-sustaining jobs.”

“Grants like these are critical to providing the funding and resources necessary to not only create good paying jobs for New Jerseyans, but also generate large-scale infrastructure projects to support communities in the region,” said Sen. Bob Menendez, D-N.J., who noted that small businesses across North Jersey are struggling with ongoing challenges.

“This funding will help create pathways for more local businesses to participate in vital infrastructure projects that create jobs and drive investment,” said Sen. Cory Booker, D-N.J. “Creating opportunity for local businesses to engage in large-scale projects promotes economic growth and levels the playing field for often-overlooked businesses.”

Booker applauded the efforts to invest in growing local economies.

“And [I] look forward to seeing the positive impact this funding will have on Newark and our state,” Booker added.