Establishes an advertising grant program for New Jersey emerging businesses to support marketing expenses.
This bill creates an advertising grant program for New Jersey emerging businesses, administered by the New Jersey Economic Development Authority. To qualify, businesses must have fewer than 225 employees, with at least 75 percent of those positions located in New Jersey. The grants will be used exclusively for advertising and marketing costs. Recipients must submit an audited financial statement annually to ensure proper use of the grant. If a recipient misuses the grant, the authority can convert it to a loan.
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