A3051

Establishes an Office of Financial Assistance in the New Jersey Economic Development Authority to assist eligible entities in accessing public.

This bill establishes an Office of Financial Assistance within the New Jersey Economic Development Authority to help eligible entities access available sources of public financial assistance, including grants, loans, loan guarantees, or tax credits. The office will provide technical assistance, develop a common application platform, and coordinate with State and federal agencies to ensure applications are submitted through the platform. Eligible entities include companies with fewer than 225 employees, at least 75% of whom are based in New Jersey, and those in specific industries.