Ørsted Pro-NJ Grantor Trust Announces Funds for Small, Woman-Owned and Minority-Owned Businesses and Coastal Resiliency Projects to Support the Growing Offshore Wind Industry in New Jersey

Today, the Trustees of rsteds Pro-NJ Grantor Trust Fund announced details of the fund and the process to apply.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Thursday, January 21, 2021
Information
Tags: 
Banking, Women, Consumer, Professional services, Small business, Common law, Equity, Inheritance, Trust law, Offshore, Ocean Wind, Articles
Geotags: 
United States, NEW JERSEY, CAPE MAY, OCEAN
⚠generated by AI ↴
Summary
Key Points: 
  • Today, the Trustees of rsteds Pro-NJ Grantor Trust Fund announced details of the fund and the process to apply.
  • The $15 million private fund was established by rsted following the selection of its Ocean Wind offshore wind farm project by the New Jersey Board of Public Utilities in June 2019, with the goal of ensuring that the offshore wind industry in New Jersey is developed in a sustainable and inclusive way.
  • Beginning February 1, Requests for Expressions of Interest from small, woman-owned and minority-owned businesses may be downloaded and submitted for consideration by visiting www.pronjtrust.org .
  • The following list represents some, but not all the fields the Trust seeks to fund:


Today, the Trustees of Ørsted’s Pro-NJ Grantor Trust Fund announced details of the fund and the process to apply. The $15 million private fund was established by Ørsted following the selection of its Ocean Wind offshore wind farm project by the New Jersey Board of Public Utilities in June 2019, with the goal of ensuring that the offshore wind industry in New Jersey is developed in a sustainable and inclusive way.

Beginning February 1, Requests for Expressions of Interest from small, woman-owned and minority-owned businesses may be downloaded and submitted for consideration by visiting www.pronjtrust.org. Following the first round of funding, Requests for Expressions for Interest will be available for applicants of coastal municipalities and counties in Ocean, Atlantic and Cape May counties.

The following list represents some, but not all the fields the Trust seeks to fund:

  • Onshore and offshore light logistics and services
  • Marine vessel supply and maintenance
  • Aviation supply and maintenance
  • Buildings – construction and repair
  • Professional services (communications, environmental/permitting, engineering, etc.)
  • Turbine blade inspection and service
  • Fuel service and supply
  • Network/wireless communications supply, service, and repair
  • Workforce training, trade/safety, etc.
  • Cleaning and janitorial
  • Food service and catering
  • Onshore and offshore surveys
  • Project and risk management
  • Health and safety equipment and clothing
  • Marine clothing/equipment supply

The Pro-NJ Grantor Trust is governed by three volunteer Trustees. Attorney Beverly McCall of Ocean City serves as board chair along with Belinda Manning, of Pleasantville, a retired organizational development professional and community volunteer/activist, and Lori Pepenella, of Barnegat, the CEO of the Southern Ocean County Chamber of Commerce. A community-based Advisory Committee comprised of nine individuals from Ocean, Atlantic and Cape May counties help support the Trust’s mission.

“We are thrilled to launch the Pro-NJ Grantor Trust and believe the offshore wind industry is not just an opportunity for developers but for local businesses as well,” said David Chief Executive Officer of Ørsted Offshore North America.”

Copyright: 
Copyright Business Wire 2021