New Jersey A3642 establishes a Rural Business Development Program to provide grants to rural businesses for job retention and creation.

New Jersey A3642 creates the Rural Business Development Program within the New Jersey Economic Development Authority (EDA). The program aims to provide grants to rural businesses for the retention or creation of employment positions. The EDA is tasked with setting up the Rural Business Development Fund, which will receive an initial $35 million from federal funds. Participating businesses must report every six months on how they used the grant funding. The program is designed to support small businesses in rural areas that operate sustainable farms and contribute to local economies.

New Jersey A3642 establishes a Rural Business Development Program to provide grants to rural businesses for job retention and creation.

New Jersey A3642 creates the Rural Business Development Program within the New Jersey Economic Development Authority (EDA). The program aims to provide grants to rural businesses for the retention or creation of employment positions. The EDA is tasked with setting up the Rural Business Development Fund, which will receive an initial $35 million from federal funds. Participating businesses must report every six months on how they used the grant funding. The program is designed to support small businesses in rural areas that operate sustainable farms and contribute to local economies.