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Trump Administration Invests $40,000 in Rural Business Development Grant (RBDG) Funds in Rural New Jersey

Name
Cynthia M. O'Grady
Phone
Release Date

Investment will help enhance economic development in rural Counties

Mt. Laurel, NJ September 2, 2020  – The Trump Administration today announced that the United States Department of Agriculture (USDA) is investing $40,000 to create a small business support center at the Cape May County Campus of Atlantic Cape Community College which is in Cape May Court House, NJ.

“Small businesses and educational institutes are vital to our economy.  This grant along with the matching funds from Cape May County and Crest Savings bank will pay dividends for years with business growth in this rural community,” stated New Jersey State Director Michael Thulen Jr.  “Under the leadership of President Trump and Agriculture Secretary Perdue, USDA has been working tirelessly to be a strong partner to rural New Jersey in building stronger and healthier communities, because we know when rural America thrives, all of America thrives.”

“Thanks to the USDA, Atlantic Cape Community College will help lead the way to connecting our businesses, and emerging businesses with the tools they will need to be successful,” stated Congressman Van Drew.  “This is a great program and I look forward to seeing the positive work they will be producing for our community.”

“Establishing this support center for small business will help unlock the entrepreneurial hopes and dreams of a new generation of job creators,” said Senator Michael Testa. "I commend the President and his Administration for investing in the future of so many South Jersey residents who aspire to improve themselves and their communities as small employers. This announcement demonstrates confidence in Atlantic and Cape May counties, and its impact will be visible through economic expansion and development in the years to come.”

Atlantic Cape Community College in Mays Landing, New Jersey will create a small business support center that will identify, train and provide Technical Assistance to existing and prospective entrepreneurs and business managers. This project will deliver new economic development capacity to Cape May County by serving small businesses, with special outreach to women, minority and veteran-owned businesses.

The total budget for this Small Business Support Center is currently $100,000.  No one source needed to fund this alone because several great partners came together to invest in the local economy.  The college is providing an in-kind match which includes staff, rooms on site at the college and equipment such as computers for entrepreneurs to learn marketing on.  The Cape May County Freeholder board approved funds of $20,000 to go towards this budget which will go right back in the county’s economy with new stronger businesses.  Also, non-government funding came from Crest Savings Bank with $10,000 going to this budget on top of the $10,000 they gave towards the initial planning of this Small Business support Center.

“We are grateful that Atlantic Cape has received the $40,000 from the USDA to support the bizHub in Cape May County,” stated Dr. Gaba President of Atlantic Cape Community College.  “The Rural Business Development Grant is important to the work we have begun and will help us continue our economic development efforts. Our partnerships with the Cape May County Freeholders and Crest Savings Bank are unwavering, especially now when current and future entrepreneurs need our support more than ever before.”
 
“The NJEDA congratulates Cape May County and the many stakeholders who have been involved in the project on securing the funding to turn the bizHub plan into reality. Entrepreneurship and creative new businesses will be a crucial element of New Jersey’s recovery from the economic impacts of the COVID-19 pandemic,” said NJEDA Chief Executive Officer Tim Sullivan. “We are excited to see this project, which was planned with support from our Innovation Challenge, receive the funding needed to succeed.”

“Our region has needed to find new ways to support our business community during these times of rapid change that existed even before the challenges of COVID-19,” said Nancy Cleaver Working Group Member and Chief Lending Officer for Crest Savings Bank.  “It is gratifying that the solution we developed over the last few years is about to become a reality, when we need it most.”

“The Cape May County Chamber is excited to partner with Atlantic Cape in creating this business resource center for the local business community,” stated Vicki Clark, President, Cape May County Chamber & bizHub Working Group Member. “Cape May County offers many opportunities for the aspiring entrepreneur, but the challenges can often seem overwhelming and new business owners are often frustrated with uncertainty of who to turn to for help.  This new business resource center will provide aspiring business owners and those looking for assistance with the tools necessary to succeed in today’s marketplace.”

This program provides grants for rural projects that finance and facilitate development of small and emerging rural businesses, help fund distance learning networks, and help fund employment related adult education programs. To assist with business development, RBDGs may fund a broad array of activities.

USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov.

If you’d like to subscribe to USDA Rural Development updates, visit our GovDelivery subscriber page.