Establishes Emerging Technology Urban Grant Program in EDA.
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill establishes the Emerging Technology Urban Grant Program within the New Jersey Economic Development Authority (EDA) to encourage high-growth technology businesses to locate in designated urban technology zones. The program will provide grants to cover the cost of using cloud computing services, with the goal of stimulating economic growth and job creation in these areas. It requires businesses to maintain their US headquarters in an urban zone and meet specific employment and revenue criteria. The EDA will also work to attract businesses and coordinate funding sources.
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