Ventnor, Margate and Longport want a piece of the Pro-NJ Grantor Trust, a $15 million fund established by Ørsted and Ocean Wind.
The two wind companies plan on building and managing substantial windfarms off the Jersey coast.
Power cables will land on beaches of Ocean City and Atlantic City where various infrastructure will be built out.
Seven towns initially invited to submit formal applications. That short list includes Longport, Margate and Ventnor.
Wind Company Offers Cash for ‘Coastal Resiliency’ Projects.
The Pro-NJ Grantor Trust also offers small, women-owned and minority-owned businesses cash if they support and participate in the developing offshore wind industry.
Listen to Senator Chris Brown & Margate’s Robin Scott from March 2019. Both discuss cost and downside of offshore wind farms.