Establishes Main Street Economic Growth Program to encourage business development in small, highly developed municipalities.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates the Main Street Economic Growth Program to support economic development in small, highly developed municipalities in New Jersey. The program will provide loans, loan guarantees, tax credits, and technical assistance to businesses operating within designated ‘Main Street areas.’ Municipalities can designate these areas, outlining their economic goals and strategies. The bill also includes tax credits for businesses participating in the program, aiming to stimulate job creation and investment.
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