New Jersey S2744 establishes the Main Street Assistance Program to support business development in small municipalities.
New Jersey S2744 creates the Main Street Assistance Program, administered by the New Jersey Economic Development Authority (EDA), to provide financial and technical assistance to businesses in small municipalities. The program aims to encourage business growth in commercial areas of smaller municipalities to boost local economies. Eligible businesses must have at least 15 percent of their full-time employees residing within the small municipality. The EDA will establish a special non-lapsing fund for loans, loan guarantees, and technical assistance.
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