Bill To Boost New Jersey Businesses Now Law

Measure Provides $3,000 for Each New Job

(WOODBRIDGE) – Gov. Jon S. Corzine today signed into law a bill designed to help New Jersey businesses emerge stronger from the global economic crisis.

The bill is among about 40 advanced by the Assembly to help residents and businesses withstand the financial uncertainty.

The bill (A-3294) creates the “Invest New Jersey Business Grant Program” program that will help small and mid-size businesses by providing grants of $3,000 for each new job created.

Sponsored by Assembly members Nelson Albano (D-Cumberland), Matt Milam (D-Cumberland), Joseph Vas (D-Middlesex), Louis Greenwald (D-Camden) and Linda Greenstein (D-Middlesex/Mercer), the measure replaces and expands the state’s Business Retention & Relocation Assistance Grants.

“Employees and employers both need confidence that much-needed jobs will remain in New Jersey,” Albano said. “With this measure in place, we can ensure they will.”

“Businesses need this comprehensive program to both spur job development and help retain their employees here in the Garden State,” Milam said.

“This is wonderful economic stimulus legislation,” Greenstein said. “Obviously we have tremendous economic problems in this country and we have to do everything we can to make sure that we retain businesses and jobs here in New Jersey.”

“New Jersey has the strength to successfully weather the worst of this financial storm, but only if we continue to take decisive action,” Vas said. “We must do whatever we can to keep New Jerseyans gainfully employed and continue making the state a great place to do business.”

“It’s a real inducement for businesses in New Jersey,” Greenwald said.

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