The Pro-NJ Grantor Trust:
Supporting the Offshore Wind Industry and Infrastructure Resiliency in the Garden State.
Established in 2020, the Pro-NJ Grantor Trust is designed to kick-start a strong and sustainable offshore wind industry.
The Pro-NJ Grantor Trust offers small, women-owned and minority-owned businesses in New Jersey support in reconfiguring their businesses to participate in the developing offshore wind industry. The Trust will also provide funding for infrastructure resiliency improvements critical to the coastal communities in Atlantic, Ocean and Cape May counties.
About
The Trust
The Pro-NJ Grantor Trust is an independent $15 million fund established by Ørsted and Ocean Wind 1, with the goal of ensuring that the offshore wind industry in New Jersey is developed in a sustainable and inclusive way.
The Trustees
Oversight of the Pro-NJ Grantor Trust is provided by three trustees representing Ocean, Atlantic and Cape May counties.
Project Background
In 2018, Governor Phil Murphy signed an Executive Order directing the New Jersey Board of Public Utilities (BPU) to fully implement the Offshore Wind Economic Development Act of 2010.