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Press Release
March 4, 2020
2 minute read

NJEDA To Kick Off Statewide Roadshow Event Series to Showcase Resources for Garden State Businesses, Communities and Municipalities


TRENTON, N.J. (March 5, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that it will host a series of NJEDA Roadshow events, designed to raise awareness of the Authority’s resources for municipalities, communities and businesses of all sizes across all sectors. The events, which will be held in all 21 counties, are being created in coordination with economic development partners at the county and municipal levels.

The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

The Roadshows will give business owners, investors, entrepreneurs, and community partners the opportunity to learn all that the NJEDA offers, without having to travel outside of their local areas. Attendees will hear presentations by NJEDA staff and will then have the opportunity to ask questions.

Since the beginning of Governor Phil Murphy’s administration in 2018, the NJEDA has significantly broadened the financial and technical support it provides to small businesses, developers, investors, and people working to revitalize commercial corridors throughout New Jersey’s cities and towns.

“Under Governor Murphy’s leadership, the NJEDA and our partners throughout the administration have developed a robust suite of new tools and programs to invest in people, encourage innovation, and revitalize local communities,” said NJEDA Chief Executive Officer Tim Sullivan. “Through these roadshows, we’re taking our resources directly to the marketplace and ensuring that local municipalities, counties, and business owners know all that we have to offer.”

Attendees at the Roadshow events will hear about the following tools, in addition to many others:

  • A $1 million microbusiness loan pilot program targeted to businesses with fewer than 10 employees that contribute great vitality to our communities but who often cannot qualify for “small business” programs;
  • A $15 million Small Business Access loan program, which provides access to capital to minority-, women-, LGBT-, veteran- and immigrant-owned businesses;
  • A $15 million Brownfield Redevelopment Loan program, designed to return legacy industrial sites to productive reuse;
  • Multiple new technical assistance programs to help municipalities, small businesses and entrepreneurs acquire the skills and credentials needed to thrive in the state’s innovation economy;
  • NJ Ignite, which provides critical rent support to early-stage New Jersey companies working from one of the 18 collaborative coworking spaces in the Ignite network throughout the state;
  • An enhanced Angel Investor Tax Credit that provides a 20% credit for qualifying investments in New Jersey startups (up from 10% prior to the governor signing an enhanced bill into law) and a 5% additional credit if the business is women- or minority-owned, or located in one of the state’s 169 Opportunity Zones.

The first three Roadshows will be held March 11 in Passaic County, March 12 in Somerset County, and March 16 in Atlantic County. Information about these events, and others that are currently scheduled, can be found at: https://www.njeda.com/about/Public-Information/County-Roadshow-2020
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitterand LinkedIn.
 

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