Establishes Emerging Technology Urban Grant Program in EDA to attract tech businesses to urban zones.

The bill establishes the Emerging Technology Urban Grant Program within the New Jersey Economic Development Authority (EDA) to award grants to emerging technology businesses for cloud computing services. The program aims to attract these businesses to four designated urban technology zones: Newark, Trenton, Camden, and New Brunswick. Grants are capped at $125,000 per quarter for two years, with a maximum of $1,000,000 per business over the program's duration. The total grant sum cannot exceed $80,000,000, with no more than $20,000,000 allocated to businesses in each urban technology zone.

Establishes Emerging Technology Urban Grant Program in EDA to attract tech businesses to urban zones.

The bill establishes the Emerging Technology Urban Grant Program within the New Jersey Economic Development Authority (EDA) to award grants to emerging technology businesses for cloud computing services. The program aims to attract these businesses to four designated urban technology zones: Newark, Trenton, Camden, and New Brunswick. Grants are capped at $125,000 per quarter for two years, with a maximum of $1,000,000 per business over the program's duration. The total grant sum cannot exceed $80,000,000, with no more than $20,000,000 allocated to businesses in each urban technology zone.