New Jersey Economy
NEW –Fast Track Research Notes Issue Number 5: “Coronavirus Economic Recuperation Continues: New Jersey and Nation-Not Yet Back to the Future“ – The report documents that New Jersey’s economic comeback continued for the fourth straight month, and the state has now recouped almost one-half of its pandemic-driven job losses. However, employment growth has recently slowed both in New Jersey and the nation, portending a long recovery period. The harrowing, life-altering experience of the year 2020 continues.
NEW – COVID-19/Novel Coronavirus Information for New Jersey Businesses – Links to state-wide guidance, resources for economic assistance, Business Operation Restrictions, and more.
Middlesex County has created a Small Business Relief (MC-SBRG) Grant program to assist small businesses that have been negatively impacted by the coronavirus. Funds are available on a first-come, first-serve basis and capped at a total funding amount of $30,000 per application.
Looking for work or need to hire workers? the New Jersey Department of Labor and Workforce Development (NJDOL) offers a full suite of online and telephonic job seeker services through its One-Stop Career Centers.
New Jersey Research Portal – Experts, Universities, and Intellectual Capital (searchable database)
New Jersey’s Connected Economy – prepared by Econsult Solutions for the New Jersey Policy Research Organization (2018)
New Jersey Profile – stats and facts provided by Choose New Jersey
Key Industries in New Jersey
Life Sciences: The New Jersey Biopharma Industry: A Prescription for Growth – BioNJ (2018)
Food: New Jersey A Growing Food Industry Hub – Choose New Jersey
Technology: New Jersey’s Technology Industry Cluster – New Jersey Department of Labor and Workforce Development (2017-2018)
Manufacturing: New Jersey’s Advanced Manufacturing Industry Cluster – Choose New Jersey
Clean Energy: New Jersey Offshore Wind Industry Overview (2020)
New Jersey Economic Development Authority
NJEDA has a variety of new programs and initiatives to assist small business, support development and redevelopment efforts, drive innovation, and strengthen the workforce. Our speakers will provide an overview of these new NJEDA initiatives and other resources available to the Atlantic County business community.
- Small Business Access ($15m loan program targeted to minority, women, veteran, LGBT, immigrant- owned biz.) Small Business Lease Assistance Program (rent assistance for businesses in distressed communities)
- Brownfield Loan Program (up to $5 million to potential brownfield site purchasers and current brownfield site owners for costs associated with brownfields site remediation)
- 21st Century Redevelopment Challenge (grants of up to $50,000 each to eligible redevelopment agencies, municipalities, or counties to create strategies to redevelop or regreen their stranded assets)
- Enhanced Angel Tax Credit (increase from 10 percent to 20 percent of a qualified investment, with an additional five percent bonus available for investments in a business located in a qualified opportunity zone, low-income community, or a business that is certified as minority- or women-owned by the State.)
- NJ Ignite (grants that support rent of early stage technology and life science companies in New Jersey collaborative workspaces)
- Small Business Bonding Readiness Training Program (in partnership with the NJ African American Chamber of Commerce)
- Offshore Wind Technical Assistance Program (in development)