Annie D'Agostino, Author at NJEDA

COVID-19 Outbreak
New Jersey Economic Development Authority (NJEDA)
New Jersey Small and Micro Business PPE Access Program
Notice of Funding Availability: Application become available beginning 9:00 am on Wednesday, August 19, 2020

Para ver esta información en español, haga clic aquí

Overview

On March 9, 2020, Governor Phil Murphy issued Executive Order 103, declaring a State of Emergency and a Public Health Emergency to ramp up New Jersey’s efforts to contain the spread of COVID-19. In the following months, New Jersey (and the country) saw an unprecedented spike in the demand for COVID-19 PPE and safeguarding materials, largely driven by the healthcare sector. With much of the economy shut down, market supply for PPE was scarce, but over time began to meet the needs of health care and emergency service workers. However, as more parts of the economy have reopened, the required demand for PPE needed to protect employees and customers has surged and there is concern that shortages may return.

On August 11, 2020, the New Jersey Economic Development Authority (NJEDA) approved the creation of the NJ Small and Micro Business PPE Access Program, which was developed in response to the need for readily available, competitively priced, and equitably distributed PPE to accelerate economic recovery in New Jersey.

More than one third of all New Jersey workers are employed by organizations of 100 employees or fewer. Many of these companies do not have the reach or the resources to obtain goods outside of their normal retail buying channels, particularly in times of significant supply/demand imbalances. PPE falls squarely into the category of a good that was not essential to many of these organizations before the COVID-19 outbreak but is critical today.

Under normal conditions changes in a business marketplace are met with changes on the part of the supply chain; a new demand will stimulate new sources of supply. While normalcy will return to the PPE marketplace over time, many businesses, employees, and customers cannot wait for that slow natural rebalancing to occur. They compete each day against much larger, more powerful market participants.

Small businesses or organizations in historically underserved communities are particularly vulnerable to being crowded out of essential goods when tight market conditions occur. The State’s commitment to building a stronger and fairer New Jersey makes attention to the needs of this community and in this setting all the more pressing. Leaving these organizations to fend for themselves exposes them to inconsistent sources of supply as well as to potential price gouging and quality issues. All of this poses a risk to the State’s recovery and its economy, in particular employment by New Jersey small businesses.

Purpose

The NJ Small and Micro Business PPE Access Program has been designed to have a rapid and widespread impact on the availability of PPE in New Jersey, especially ahead of the upcoming flu season. By approving qualified Designated Vendors to establish special e-commerce websites that will sell discounted PPE to New Jersey small businesses and organizations, the program will make it easier and more affordable for local organizations to access high-quality and affordable PPE. Specifically, the program will:

Facilitate the State’s economic recovery by ensuring that small and micro businesses and non-profit organizations – the customers – can access affordably priced PPE and other safeguarding equipment to protect their employees as they return to work and continue to operate in a COVID-19 environment;
Ensure small and micro businesses and non-profit organizations have the information they need to select the appropriate PPE needed for their context;
Ensure that businesses in historically underserved communities are particularly able to access affordable PPE; and
Support the State’s small businesses and manufacturing sector by providing an offsetting subsidy for purchases of PPE that has been (i) manufactured or assembled at a manufacturing facility in New Jersey or (ii) purchased from a small wholesaler located in a historically underserved community (i.e., one of New Jersey's 715 Opportunity Zone Eligible census tracts).

Eligible Uses

Funding may be used to subsidize up to 20% of Designated Vendors’ purchase of PPE that was:

Manufactured or undergone material assembly (but more than mere repackaging) at a facility located within the State of New Jersey, or
Sourced from a small wholesaler with fewer than 25 full time equivalent employees located in one of New Jersey's 715 Opportunity Zone Eligible census tracts

For the manufacturing-based subsidy, “assembly” means material assembly (more than mere repackaging) within the State of New Jersey. The manufacturing company that is selling the PPE does not have to be headquartered in New Jersey, but they must have a physical manufacturing and or assembly facility in the State.

For the wholesale-based subsidy, the wholesalers must have less than 25 FTE as reported on their most recent tax filing. The small wholesale company that is selling the PPE does not have to be headquartered in New Jersey, but they must have a physical location that is fully or partially located with an Opportunity Zone Eligible census tract.

NJEDA may request additional documentation from the Designated Vendor to confirm that the above criteria were met. As a part of our work on the pandemic, NJEDA has identified many manufacturers in the State that are now making or assembling PPE. We will make the names and contact details of these companies available to the Designated Vendors.

Grant Amounts

A $3.5 million grant pool is available to subsidize Designated Vendors’ purchases of PPE made or assembled in New Jersey or purchased from small wholesalers in Opportunity Zone Eligible Census tracts. This grant pool is available to Designated Vendors on a first-come, first-served basis based on date and time of firm purchase orders submitted to NJEDA.

There is no minimum or maximum size of grants to individual Designated Vendors but use of the grant funds will be contingent upon prior approval from NJEDA when the proposed PPE purchase (i) is 30% or more above prevailing wholesale market prices or (ii) will require use of $250,000 or more of grant proceeds. NJEDA will review such request to ensure the proposed purchase is reasonable and, if approved, will reserve funds for such purpose for the earlier of ten business days after pre-approval or December 1^st. The Designated Vendor will be required to provide evidence of the prevailing market prices with each purchase for which the Designated Vendor will claim grant funds.

Eligible Applicants

To be eligible to receive this funding, an applicant must be a Designated Vendor of the New Jersey Small and Micro Business PPE Access Program. Under the Program, any entity that wishes to participate and that (i) meets the prescribed eligibility criteria and (ii) agrees to the performance requirements of the Program may become a NJ PPE Access Designated Vendor. These eligibility criteria and performance requirements are as follows, and the application to become a Designated Vendor may be accessed here.

Eligibility Criteria

To be designated as a NJ PPE Access Designated Vendor, applicants must meet the following minimum eligibility criteria (as of August 11, 2020):

Been engaged in one of the following:
1. (i) direct consumer-facing or small business online distribution (selling through an unrelated company’s online marketplace does not meet this criterion) or (ii) wholesale sourcing of COVID-19 PPE, each for not less than two years, or
2. if the applicant company is under two years old, have a Senior Executive (CEO, COO, or other similar level executive) that has such experience on behalf of other companies for not less than four years;
Have revenues for the most recently completed fiscal year of not less than $5 million;
Be registered to do business in NJ and have at least one commercial facility in the State, such as an office, a retail store, a warehouse, a manufacturing facility, etc.; and
Be able operationally, technologically and financially to meet the performance requirements laid out in the section below.

In addition, all applicants must pass NJEDA’s standard debarment and legal review process, provide a tax clearance certificate, and be in good standing with the New Jersey Department of Labor and Workforce Development.

Performance Requirements

To be designated as a NJ PPE Access Designated Vendor, applicants must also demonstrate an ability to meet these performance requirements:

Designate a NJ PPE Access Program project manager with experience in running projects of similar scope and scale and having the authority to report on the performance of and coordinate requested changes to the online platform;
Create and support a dedicated website that:
1. Has a unique URL that clearly identifies the site as part of the NJ PPE Access Program;
2. Contains co-branding and text (to be provided by NJEDA Staff) that identifies the site as participating in the NJ PPE Access Program;
3. Offers the site in English and Spanish; and
4. Is designed so that visitors can learn about, purchase, pay for and have delivered a selection of PPE via a user-friendly and intuitive online platform (e.g., that utilizes pictures for products, has clear and transparent pricing, is mobile-friendly, provides clear totals in check-out process);
Offer on the Vendor’s NJ PPE Access Site at least seven of the nine Required product categories listed below (five out of the nine for Designated Vendors having under $10 million in revenues):
Required:
• Cloth face masks
• 3-ply surgical face mask
• N95 and K95 masks
• Face shields and/or goggles
• Gloves
• Sanitizing gels
• Isolation gowns
• Screening devices, e.g., touchless thermometers
• Disinfecting supplies
Encouraged:
• Workplace safeguarding equipment, e.g., plexiglass panels and dividers
• Signage, marking devices and other social distancing tools;
Ensure that all PPE offered on the site is authentic (e.g., of the quality it proports to be) and meets the performance standards or minimum specifications proscribed by applicable federal and New Jersey health authorities, e.g., FDA, CDC, NJ DOH;
Provide NJEDA with a description/plan of how they intend to limit choices for any given product type to make it easier for a small business customer to quickly make choices; Designated Vendors will be expected to commit to executing any plans in good faith;
Provide a discount of not less than 10% (compared to the online retailer’s main retail channel) for the PPE to all customers, such discount to be applied in the checkout process and identified as the “NJ Small Business PPE Access Program Discount;”
Ensure that customers with limited or no access to credit can utilize the site, e.g., by offering payments by debit card or gift card as an option;
Agree to coordinate with the NJEDA to develop a technical approach to offer certain businesses additional subsidies on their PPE purchases to be funded out of NJEDA grant funding (see below for additional details) in a potential second phase of the Program;
Present to NJEDA an internal working/demonstration version of the proposed solution within two weeks of the execution of the NJ PPE Access Participation and Subsidy Agreement and launch a fully operational site within two weeks thereafter;
Ensure that users opting to purchase merchandise from a Designated Vendor’s non-Program website or catalog are made aware that they are leaving the Vendor’s NJ PPE Access Site and that the benefits of the Program are not available for the purchase of such non-Program merchandise;
Provide NJEDA with a description/plan of how they intend to engage with NJ-based small businesses in historically underserved communities as part of this program, including but not limited to: potentially sourcing from such businesses and/or conducting any specific promotional outreach regarding availability of this program; Designated Vendors will be expected to commit to executing any plans in good faith;
Provide NJEDA with a description/plan for identifying and purchasing PPE from companies that manufacture or assemble in final form (repackaging excluded) PPE in New Jersey; Designated Vendors will be expected to commit to executing any plans in good faith;
Provide NJEDA with a weekly report on key performance metrics for their NJ PPE Access Site, including but not limited to:
1. Total sales by volume and transaction numbers
2. Total sales and outreach efforts to historically underserved communities
3. Total sales to businesses with fewer than 10 and 25 full-time equivalent (“FTE”) employees (may be implemented in the potential Phase 2 of the program)
4. Comparable market pricing or product pricing indices
5. Total amount of discounts provided; and
6. Total amount of subsidies using NJEDA advanced grant funding provided (part of the potential Phase 2 of the program)
Provide a complete accounting of the site’s activity no later than 90 days following the termination of the NJ PPE Access Participant Subsidy and Agreement;
Maintain and support the Vendor’s NJ PPE Access Site for a period of at least 12 months (or such shorter time as required to support small businesses through the COVID-19 Public Health Emergency); and
Remove the site and all NJEDA and NJ “The Road Back” branding at earlier of the end of the Program or the termination of the Designated Vendor’s participation therein.

Funding Disbursement

Disbursements to Designated Vendors from the $3.5 million grant pool will be made on a first come, first served basis. Vendors will receive their subsidy up to 30 days after receipt of acceptable documentation of PPE purchase from a qualifying manufacturer or small wholesaler in NJ as well as the prevailing market prices.

To comply with state and federal expenditure requirements, the Designated Vendor must document that the PPE purchased is reasonably anticipated, at the time of PPE purchase, to be bought and used by purchasers before December 30, 2020. The Designated Vendor must submit request for NJEDA disbursement no later than November 30, 2020 to enable enough time for disbursement. Designated Vendors will be notified once the grant pool has been depleted.

Application Process

The application to become a Designated Vendor is in two parts: a Program Application (available online here) and a Legal Questionnaire, to be completed following the submittal of the Program Application. Applications will be reviewed on a rolling basis as they are received, and the application period will end on November 30, 2020. Applicants will be evaluated against eligibility criteria and asked to confirm their ability and willingness to meet certain vendor performance requirements (as described above). Applicants will be notified of the outcome by email, with an opportunity to provide additional or clarifying information, if necessary.

Once approved, Designated Vendors will be asked to sign the NJ PPE Access Program and Subsidy Agreement and present a demonstration version of their NJ PPE Access e-commerce site within two weeks. As the objective of the grant pool is to subsidize local spending, the full $3.5 million subsidy will be made available to Designated Vendors on a first-come, first-served basis based on date and time of firm purchase orders submitted to NJEDA.

Fees

No fees will be collected by the Authority for this program.

Additional Information

Additional information on the New Jersey Small and Micro Business PPE Access Program and this grant may be found at: https://covid19.nj.gov/pages/about-the-nj-small-and-micro-business-ppe-access-program

TRENTON, N.J. (August 21, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that IKEA Retail U.S. intends to donate $2.3 million to support the Authority’s Small Business Emergency Assistance Grant Program for businesses impacted by COVID-19. The donation is part of a global initiative IKEA has voluntarily undertaken to reimburse governments worldwide for the costs of supporting employees who were furloughed from the company in the early days of the COVID-19 outbreak.

“COVID-19 has had a devastating impact on our economy and the workers that fuel it,” said Governor Phil Murphy. “We were proud to support IKEA workers when they needed us, and now we appreciate the company’s generous donation to support small businesses that continue to struggle to make ends meet. This is a difficult time, but generous efforts like this will make it possible for all of us to get through the challenges we face today and build a stronger, fairer, and healthier New Jersey.”

In line with New Jersey’s public health response to the COVID-19 pandemic, IKEA closed its retail locations in the state and furloughed the company’s in-store employees during the month of April 2020. Now that restrictions on retail businesses are loosening and the company is able to return those employees safely to work, IKEA intends to repay the roughly $2.3 million in costs New Jersey incurred to provide unemployment insurance and other social support programs for the company’s employees during the month they were furloughed.

“We are appreciative of the ongoing support from the state of New Jersey, including the unemployment funds paid to our co-workers who were furloughed in the early weeks of the pandemic,” said Javier Quiñones, IKEA Retail U.S. president. “People are the heart of our business, and the state unemployment benefits helped IKEA U.S. co-workers during a difficult time. We now have a better understanding of the impact of COVID-19 on our business, and we’ve decided to “pay it forward” to support small businesses in our local communities.”

The $2.3 million donation will bolster the NJEDA’s Small Business Emergency Assistance Grant Program. Initially launched in April and expanded for Phase 2 in June, the Program provides grant funding for small businesses struggling with COVID-19-related challenges. To ensure equitable distribution of funds, one-third of the funding for the Grant Program is set aside for qualified businesses located in one of the 715 census tracts that were eligible to be selected as a New Jersey Opportunity Zone.

To date, more than 14,000 businesses have been approved for grants totaling more than $36 million. The NJEDA will use the donation from IKEA to fund businesses whose applications are currently waitlisted. Funds will be distributed in the order applications were submitted.

“The NJEDA greatly appreciates the generous donation from IKEA. The funding they provide will allow us to distribute grants to hundreds of businesses who may not have received funding otherwise,” said NJEDA Chief Executive Officer Tim Sullivan. “By supporting the Small Business Emergency Assistance Grant Program, IKEA will help businesses keep their employees on the payroll and make the changes they need to stay open while keeping customers and staff members safe. This is crucial not only to ensuring we weather the immediate health and economic crises COVID-19 has caused, but also to paving the way for a smooth and successful recovery.”

Additional information about the Small Business Emergency Assistance Grant Program and other New Jersey programs providing relief for businesses impacted by COVID-19 is available at http://cv.business.nj.gov.

To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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TRENTON, N.J. (August 18, 2020) – As an update to the news release issued last week by Governor Phil Murphy announcing New Jersey’s Small and Micro Business PPE Access Program (see below), the New Jersey Economic Development Authority (NJEDA) today launched an application for online retailers and Personal Protective Equipment (PPE) wholesalers that would like to become “Designated Vendors” in the program. Interested parties may learn about the process and submit an application at covid19.nj.gov/ppe.

Last week, the NJEDA’s Board approved the first phase of this $15 million initiative, created by the Murphy administration to address ongoing demand for readily available, reasonably priced, and equitably distributed PPE. The program will establish a new website that provides micro and small businesses with the information needed to make easier and better PPE sourcing decisions. The website will offer a vetted list of online retailers (the Designated Vendors) that have agreed to verify the quality of the PPE they are selling and offer at least a 10% discount to businesses who enter through the State’s website.

The Designated Vendor application process has two parts, the first of which is available at https://forms.business.nj.gov/ppe-access/retailers/. Part One addresses general program eligibility and the Designated Vendor’s ability to meet key program performance requirements. Part Two, which will be emailed to applicants following their submittal of Part One (or earlier upon request), addresses certain corporate and legal requirements of the applicants.

Designated Vendors will be vetted on a first come, first served basis by the NJEDA, and must agree to certain performance standards for their site (e.g., transparent pricing, high-quality products). Designated Vendors will also be eligible to access an NJEDA grant pool of up to $3.5M to support the purchase of PPE that is manufactured in New Jersey or sourced from a small wholesaler based in a historically underserved community.

NJEDA intends to launch the full program in early to mid-September, once Designated Vendors have been officially selected to participate in the program.

Members of the media interested in scheduling an interview should contact media@njeda.com

Interested parties may submit questions to the NJ PPE Access Program team at SmallBusinessPPE@njeda.com.

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Para ver esta información en español, haga clic aquí

Expanded program provides loans up to $50,000 to businesses with ten or fewer employees

TRENTON, N.J. (August 11, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that it has started accepting applications for its expanded Micro Business Loan Program to support New Jersey small businesses, many of which are facing business interruption as a result of COVID-19. The application can be found at www.njeda.gov/microbusinessloan. Applications will be accepted on a rolling basis.

“Micro businesses are a dynamic and often overlooked part of New Jersey’s economy – but they represent a large and growing segment of our business community, led in many cases by women and people of color,” NJEDA Chief Executive Officer Tim Sullivan said. “With this purpose-built tool to support these unique businesses, we can help more entrepreneurs survive this current economic crisis and realize their long-term visions.”

The expanded Micro Business Loan Program is open to for-profit businesses with a business location in New Jersey, that have been in operation for at least one year, as well as home-based businesses and not-for-profit organizations that have been in operation for at least two years. Startup businesses, defined under the program as business in operation between six months and one year, may also be eligible for the program, but will be required to provide a business plan and five-year financial projections at application. Of the $10 million in total funding available through the program, $3.5 million will be set aside to support eligible entities located in New Jersey Opportunity Zone-eligible census tracts.

Businesses that receive financing under the enhanced program and are still open and in operation 12 months after the closing date of the loan will have ten percent of the approved loan amount forgiven. Additionally, recognizing the extraordinary economic circumstances that make this program necessary, the NJEDA will waive all application and closing fees for the first three months from the date the application is opened.

Businesses that may be interested in the program should visit www.njeda.gov/MicroBusinessLoan to review the program eligibility and access the loan application. Once the loan application is submitted, if the NJEDA determines the business may be eligible, the business will be asked to provide additional financial information the NJEDA will need to make a final decision on the loan application. Applicants that wish to start gathering any financial information needed can review the application checklist located on the program webpage for further guidance.

Comprehensive information about New Jersey’s coronavirus response is available at https://cv.business.nj.gov.

To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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El programa ampliado proporciona préstamos de hasta $50,000 a negocios con diez empleados o menos

TRENTON, N.J. (5 de agosto de 2020) – New Jersey Economic Development Authority (NJEDA) anunció hoy la ampliación del Programa de Préstamos para Micronegocios (Micro Business Loan Program) para ayudar a los pequeños negocios de New Jersey, muchos de los cuales enfrentan la interrupción de la actividad comercial a causa de la COVID-19. Encuentre la solicitud en www.njeda.gov/microbusinessloan. Las solicitudes se aceptarán a medida que se presenten.

Con el programa ampliado, $10 millones se encuentran disponibles para proporcionar financiamiento de hasta $50,000 para micronegocios y organizaciones sin fines de lucro con diez empleados o menos e ingresos anuales inferiores a $1.5 millones. Los préstamos a través de este programa tendrán un plazo de 10 a 15 años, con tasas de interés del 2 % y sin pagos de capital o intereses durante los primeros tres años. El financiamiento del Programa de Préstamos para Micronegocios (Micro Business Loan Program) se puede usar para inventario, compra de equipamiento o capital de trabajo.

“Los micronegocios son una parte dinámica y, a menudo, desatendida en la economía de New Jersey, pero representan un segmento importante y en desarrollo de nuestra comunidad empresarial, liderado en muchos casos por mujeres y personas de color”, comentó Tim Sullivan, Director Ejecutivo de NJEDA. “Con esta herramienta especialmente diseñada para apoyar a estos negocios únicos, podemos ayudar a más empresarios a sobrellevar la crisis económica actual y a hacer realidad sus visiones a largo plazo”.

El Programa de Préstamos para Micronegocios (Micro Business Loan Program) ampliado está disponible tanto para los negocios con fines de lucro con ubicación comercial en New Jersey que estén en funcionamiento desde hace al menos un año, como para los negocios basados en el hogar y las organizaciones sin fines de lucro que hayan estado en funcionamiento durante al menos dos años. También pueden ser elegibles para el programa los negocios emergentes (o startup), definidos según el programa como negocios que hayan estado en funcionamiento durante seis meses a un año, aunque se requerirá que proporcionen un plan de negocios y proyecciones financieras a cinco años en la solicitud. De los $10 millones totales disponibles para el financiamiento a través del programa, $3.5 millones se reservarán para ayudar a las entidades elegibles ubicadas en los distritos censales elegibles como Zonas de Oportunidades (Opportunity Zone-eligible census tracts) de New Jersey.

A los negocios que reciban el financiamiento del programa ampliado y aún estén abiertos y en funcionamiento 12 meses después de la fecha de cierre del préstamo se les condonará el 10 % del préstamo aprobado. Además, en reconocimiento de las extraordinarias circunstancias económicas que hacen que este programa sea necesario, NJEDA eliminará todos los cargos de cierre y de solicitud durante los primeros tres meses posteriores a la fecha de inicio de la solicitud.

Los negocios interesados en el programa deben visitar www.njeda.gov/MicroBusinessLoan para revisar los requisitos de elegibilidad para el programa y acceder a la solicitud de préstamo. Una vez que se presenta la solicitud de préstamo, si NJEDA determina que el negocio puede ser elegible, se le solicitará que proporcione información financiera adicional que NJEDA necesitará para tomar una decisión final sobre la solicitud de préstamo. Los solicitantes que deseen comenzar a recopilar cualquier información financiera necesaria pueden revisar la lista de verificación de la solicitud en la página web del programa para obtener más orientación.

Hay información completa sobre la respuesta de New Jersey ante el coronavirus disponible enhttps://cv.business.nj.gov.

Para leer el plan económico completo del Gobernador Murphy, visite https://nj.gov/economicplan.

Acerca de la New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) funciona como la principal agencia del Estado para impulsar el crecimiento económico. La NJEDA está comprometida a hacer de New Jersey un modelo nacional de desarrollo económico inclusivo y sostenible centrándose en las estrategias fundamentales para ayudar a desarrollar comunidades más fuertes y dinámicas, generar buenos puestos de trabajos para los residentes de New Jersey y ofrecer vías para una economía más sólida y justa.

Para obtener más información sobre los recursos de la NJEDA para empresas, llame a Atención al Cliente de NJEDA al 609-858-6767 o visite https://www.njeda.gov y siga a @NewJerseyEDA en Facebook, Twitter y LinkedIn.

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Board Approves Use of $15 Million in CARES Act Funding for Grants to Small Businesses Impacted by COVID-19 Pandemic

TRENTON, N.J. (August 11, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that its Board has approved the use of $15.3 million in Coronavirus, Aid, Relief and Emergency Security (CARES) Act funding to provide grants through the Authority’s Small Business Emergency Assistance Grant Program to businesses located in 12 New Jersey counties that did not receive direct allocations of CARES Act funding from the federal government. The funds will be added to the more than $100 million the NJEDA is currently administering to support COVID-19-impacted businesses.

“Helping small businesses and their employees withstand the immediate economic impact of COVID-19 and prepare for a safe and strong recovery is central to the NJEDA’s pandemic response,” said NJEDA Chief Executive Officer Tim Sullivan. “Using this additional CARES Act funding to expand our Small Business Emergency Assistance Grant Program will allow us to provide much-needed relief for business owners who have been struggling and employees whose jobs have been at risk. Focusing on counties that did not receive direct federal aid will also help to ensure resources are distributed fairly to businesses in all regions of the state.”

To date, more than 11,500 businesses have been approved for grants totaling more than $36.5 million through the Small Business Emergency Assistance Grant Program. Launched in early April with $10 million of NJEDA funds, the Program initially offered grants of up to $5,000 to a narrowly targeted set of small businesses that included restaurants and in-person retail establishments. In early June, the NJEDA used $50 million in CARES Act funds to expand Phase 1 of the grant program by $5 million and launch Phase 2 of the Grant Program with $45 million. Phase 2 expanded the Program to a significantly broader range of businesses and increased the maximum grant award to $10,000.

To ensure equitable distribution of funds, the NJEDA set aside one-third of the CARES Act funding to support qualified businesses located in one of the 715 census tracts that were eligible to be selected as a New Jersey Opportunity Zone. Targeting these census tracts will help to ensure funding goes to communities of color that have been hit particularly hard by the pandemic.

The additional $15.3 million approved for use today will go toward fulfilling eligible Phase 2 grant applications from businesses located in the 12 New Jersey counties that did not receive direct CARES Act funding allocations from the federal government: Atlantic, Burlington, Cape May, Cumberland, Gloucester, Hunterdon, Mercer, Morris, Salem, Somerset, Sussex, and Warren.

The remaining nine counties previously received their own separate allocations of CARES Act funds. Essex, Ocean and Passaic counties contributed $10 million each to the NJEDA to allocate to businesses in those three counties through Phase 2 of the Small Business Emergency Assistance Grant Program. Bergen, Camden, Essex, Hudson, Middlesex, Monmouth, Ocean, Passaic, and Union counties are spending the funds on other COVID-19 relief programs.

In addition to approving the use of the $15.3 million in new CARES Act funding to provide grants through the Small Business Emergency Assistance Grant Program, the NJEDA Board also today delegated authority to the NJEDA Chief Executive Officer to direct any other governmental funding or unrestricted gifts or grants that the Authority may accept for the Grant Program to be administered as grants to eligible businesses in the 12 counties that did not receive direct allocations of CARES Act funding.

Comprehensive information about New Jersey’s coronavirus response is available at https://cv.business.nj.gov.

To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan

About the New Jersey Economic Development Authority

Study will support Authority’s commitment to setting a new standard for diversity and inclusion

TRENTON, N.J. (August 11, 2020) – As part of its commitment to setting a new standard for diversity and inclusion, the New Jersey Economic Development Authority (NJEDA) announced today plans to contract with Rutgers University to conduct a disparity study of the Authority’s contractual awards related to the New Jersey Wind Port. The study will analyze whether there is a disparity between the number of qualified minority-, women-, veteran- and/or LGBTQ-owned businesses (MWVLOBs) that are ready, willing, and able to contract with the NJEDA and perform services relevant to development of the Wind Port and the number of vendors and contractors that have historically received contracts for similar work. The study will also recommend programmatic remedies to address any identified disparity or underutilization of MWVLOBs.

“The New Jersey Wind Port will not only protect our environment by growing our green energy sector, but will also benefit New Jersey businesses and workers by creating thousands of jobs and attracting millions of dollars of investment to the state,” said NJEDA Chief Executive Officer Tim Sullivan. “Ensuring that the opportunities this project creates are distributed equitably is crucial to achieving our goal of building a stronger, fairer New Jersey economy. The disparity study we are conducting with Rutgers will be a vital tool for us as we continue our efforts to set a new standard for diversity and inclusion during construction of the Wind Port and once the project becomes operational.”

The New Jersey Wind Port is a first-in-the-nation infrastructure investment that will provide a location for essential staging, assembly, and manufacturing activities related to offshore wind projects on the East Coast. It has the potential to create up to 1,500 manufacturing, assembly, and operations jobs, as well as hundreds of construction jobs in New Jersey; and manufacturing and marshalling projects supported by the Wind Port will drive economic growth throughout the state.

The Wind Port will be located on the eastern shore of the Delaware River in Lower Alloways Creek, Salem County; approximately seven-and-a-half miles southwest of the City of Salem. Construction is planned in two phases, beginning in 2021. Phase 1 will develop a 30-acre site to accommodate marshalling activities and a 25-acre component manufacturing site. Phase 2 adds another 150 acres to accommodate expanded marshalling activities and extensive manufacturing facilities for turbine components such as blades and nacelles.

“Projects on the scale of the New Jersey Wind Port present crucial opportunities for businesses to grow and gain experience working on government contracts. Unfortunately, in the past, minority-, women-, and LGBTQ-owned businesses have been excluded from these opportunities, both intentionally and by simple oversight,” said NJEDA Chief Diversity and Inclusion Officer Michelle Bodden. “This disparity study is an important step in the right direction that will not only help ensure the opportunities the Wind Port creates are available to all interested and qualified firms, but will also pave the way for more inclusive and diverse hiring in future projects.”

The disparity study will focus on contracts related to the development of the Wind Port. The Rutgers research team’s final report will include analysis of the number of MWVLOBs that are ready, willing, and able to do business and contract with the NJEDA in each Market Sector and an assessment of the NJEDA’s historic utilization of these businesses in similar contracts. The disparity study will also identify barriers to MWVLOB participation in NJEDA contracts and recommend programs to reduce or eliminate these barriers as well as additional tools and practices the NJEDA could use to encourage MWVLOB participation in contracts, financial assistance, and other support programs.

“Despite being one of the most diverse states in the nation, inequality continues to persist in New Jersey, especially in access to opportunities. Rutgers is proud to work with the NJEDA to begin dismantling these historic inequalities by identifying any existing disparities related to the New Jersey Wind Port project and recommending programs and policies to address both the immediate problem and the underlying causes,” said Kevin Lyons, Ph.D., Director of the Public Private Community Partnership Program at Rutgers Business School. “The Wind Port is an amazing opportunity for New Jersey to build a clean energy future while creating opportunities for businesses, and we look forward to helping the NJEDA complete the project in a way that distributes these economic benefits equitably.”

More information about the New Jersey Wind Port is available at https://www.nj.gov/windport/.

To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan

About the New Jersey Economic Development Authority

Please be advised that a telephonic meeting of the New Jersey Economic Development Authority is scheduled for 10:00 AM, Tuesday, August 11, 2020.

The Members will convene to via conference call only. Members of the public may participate in the meeting by calling in on the conference line. Members of the public will have an opportunity to speak during the public comment segment of the meeting. The following conference number is being provided:

CONFERENCE NAME: NJEDA BOARD MEETING (August 11, 2020)
PARTICIPANT DIAL-IN NUMBER: 877-692-8955
PARTICIPANT ACCESS CODE: 4204420

Members of the public are encouraged to call in prior to the time the meeting is scheduled to begin to avoid any delays.

TRENTON, N.J. (July 29, 2020) – The New Jersey Economic Development Authority (NJEDA) today launched a pilot E-Commerce Technical Assistance Program, which will help New Jersey restaurants, retail stores, and personal care businesses continue to operate safely during the COVID-19 pandemic. The Authority has engaged the services of Hudson Integrated, Positive Solutions, and Suasion Communications Group to help businesses that normally rely on foot traffic and in-person transactions identify and implement the website and ecommerce capabilities they need to stay in business while complying with current health guidelines and changing customer preferences. Businesses in need of assistance can sign up for the program here: https://forms.business.nj.gov/covid-recovery-e-commerce/.

“The COVID-19 pandemic has required many storefront businesses that are used to relying on foot traffic and in-person transactions to quickly shift to a more virtual business model. This can be an overwhelming and expensive proposition at a moment when business owners are short on both money and time,” said NJEDA Chief Executive Officer Tim Sullivan, who serves as a Co-Chair of New Jersey’s COVID-19 Restart and Recovery Advisory Council. “The three agencies we have contracted have the expertise to help businesses quickly and confidently pivot to a model that will allow them to remain viable while keeping their customers and employees safe.”

In May 2020, Governor Murphy established the Restart and Recovery Commission to guide New Jersey’s recovery from the economic downturn caused by the COVID-19 pandemic. One of the most pressing concerns the Commission identified is small businesses’ need for assistance transitioning in-person activities to a digital space that is safer for businesses owners, employees, and customers.

Drawing on the Commission’s insights, the NJEDA crafted the Ecommerce Technical Assistance Program to provide a variety of services for businesses, from designing and implementing electronic systems for placing orders, processing payments, and booking appointments to training business owners and staff to effectively use and maintain these new ecommerce tools. In addition to supporting clients who fill out the NJEDA’s intake form, the marketing firms the NJEDA has contracted with for the Program are also required to seek out businesses to support.

To ensure this assistance is available to firms that need it most, the NJEDA has required them to make a good faith effort to ensure that at least one-third of the clients they serve are located within approved Opportunity Zone-eligible census tracts and to focus on serving small, women-, minority-, veteran- and disabled veteran-owned businesses. A map showing the targeted census tracts is available here.
Morristown-based Hudson Integrated offers brand and design, web development, digital strategy, and e-commerce solutions for businesses. In March, the agency launched its new, customizable "Resilience Digital Packages," specifically designed to help traditionally offline businesses harness the power of digital technology to adapt and thrive during the COVID-19 pandemic.

"As an agency that has helped many small businesses use digital solutions to grow, Hudson is poised to help businesses develop tools that will enable them to compete in an unusually challenging market," said Daryl Bryant, CEO of Hudson Integrated. "Many smaller businesses feel overwhelmed by the cost and learning curve associated with technology and we are excited to help them overcome that hurdle."

Located in Robbinsville, Positive Solutions is a full-service marketing and public relations agency committed to providing clients with a solutions-driven approach to solving their business objectives. For more than 13 years, the woman-owned firm has worked closely with clients in a variety of sectors to help them expand their businesses through marketing, social media, website development and management, and digital advertising. The firm also has experience creating materials in multiple languages that accommodate New Jersey’s diverse population.

“The shift to digital marketing presents cost and resource challenges to many small businesses that are challenging at any time but may seem particularly daunting when the business is also facing the added pressure of a global pandemic,” said Positive Solutions President and CEO Andrea Kelliher. “We welcome the opportunity to offer our services to businesses that recognize the need to incorporate more digital solutions but are overwhelmed or not quite sure where to start.”

Suasion Communications Group is a woman-owned, full-service marketing and public relations agency with offices in Somers Point and Haddonfield. For the past 13 years, Suasion has executed award-winning branding, public relations, digital and marketing campaigns to clients in a broad range of industries. Suasion offers a complete suite of communications services that drive traffic, improve brand awareness and increase sales through customer acquisition and retention. Suasion's services include brand strategy, public relations, digital marketing, creative design, and crisis management.

“We are proud of the work Suasion Communications has done over the years to help small businesses in South Jersey grow and adapt to changing conditions,” said Susan Adelizzi-Schmidt, President Suasion Communications Group. “This experience, combined with our deep understanding of consumer sectors, positions us to provide guidance to businesses seeking to leverage digital tools to reach and expand their client base.”

During the pilot phase, the Ecommerce Technical Assistance Program is open only to restaurants, retail stores, and personal care businesses that are registered and have a physical storefront in the State of New Jersey. Future expansions of the program may open it up to a broader range of businesses. Interested business owners should sign up via the intake form or contact ecommerceta@njeda.com.

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TRENTON, N.J. (29 de julio de 2020) – New Jersey Economic Development Authority (NJEDA) anunció hoy que los esfuerzos de respuesta a la COVID-19 del organismo han apoyado a más de 10,000 empresas desde marzo de 2020. En total, el organismo ha proporcionado más de $44.2 millones en apoyo a 10,624 empresas a través de subsidios, préstamos a bajo costo y asociaciones con inversionistas y Community Development Financial Institutions (CDFI).

“Estos programas han servido como sustento para muchas pequeñas empresas mientras analizamos cómo reactivar nuestra economía de forma segura y continuamos priorizando la salud pública”, expresó el Gobernador de New Jersey, Phil Murphy. “Seguiremos demostrando nuestro compromiso en ayudar a las empresas a superar esta crisis”.

Los distintos programas de ayuda de NJEDA para hacer frente a la COVID-19 ofrecen una variedad de recursos para las empresas de todos los tamaños, incluidos subsidios para pequeñas empresas, préstamos sin intereses, asistencia para prestamistas del sector privado y CDFI, financiamiento para emprendedores, asistencia técnica e información sobre el mercado. Además de la asistencia financiera directa, NJEDA también proporcionó diversos programas de asistencia técnica para empresas que tienen dificultades para adaptarse a las nuevas pautas de salud y seguridad, incluida ayuda para solicitar los préstamos del Programa de Protección de Pago (Paycheck Protection Program, PPP) federal y capacitación sobre soluciones de comercio electrónico para restaurantes y empresas minoristas.

“Si bien la pandemia de COVID-19 es, principalmente, una crisis de salud pública, también ha generado graves problemas económicos, los cuales han afectado a las empresas pertenecientes a minorías o mujeres con mayor dureza”, explicó el Director Ejecutivo de NJEDA, Tim Sullivan. “Aunque quede mucho trabajo por delante, los conocimientos que obtuvimos gracias a los logros alcanzados hasta el momento orientarán nuestras medidas futuras respecto de abordar las inquietudes de los empresarios y ayudarlos a prepararse para una sólida recuperación”.

El programa de ayuda para la COVID-19 de NJEDA más importante es el Programa de Subsidios para Asistencia de Emergencia a Pequeñas Empresas (Small Business Emergency Assistance Grant Program). El programa, que se lanzó a principios de abril con $5 millones de fondos de NJEDA, ofreció inicialmente subsidios de hasta $5,000 a un conjunto muy específico de pequeñas empresas, que incluían restaurantes y establecimientos de venta minorista en persona. A principios de junio, NJEDA utilizó $50 millones de los fondos de la Ley de Ayuda, Alivio y Seguridad Económica por Coronavirus (Coronavirus Aid, Relief, and Economic Security, CARES) para ampliar la Fase 1 del programa de subsidios en $5 millones y lanzar la Fase 2 con $45 millones. La Fase 2 amplió el programa a un rango mucho más significativo de empresas y aumentó el monto máximo de subsidio otorgado a $10,000. En ese momento, los condados de Essex, Ocean y Passaic han proporcionaron cada uno $10 millones de fondos en virtud de la Ley CARES para financiar los subsidios adicionales a las empresas de esos condados.

A fin de garantizar la distribución equitativa de los fondos, NJEDA reservó un tercio de los fondos de la Ley CARES al financiamiento de empresas calificadas ubicadas en uno de los 715 distritos censales elegibles como Zonas de Oportunidades (Opportunity Zone) de New Jersey.

A la fecha, 10,415 pequeñas empresas recibieron subsidios por un total de más de $33 millones a través del Programa de Subsidios para Asistencia de Emergencia a Pequeñas Empresas (Small Business Emergency Assistance Grant Program). El monto promedio de los subsidios otorgados ha sido de aproximadamente $3,000, lo que indica que la empresa aprobada promedio tiene tres empleados equivalentes a tiempo completo. 3,383 empresas recibieron subsidios durante la Fase 1 y, hasta el momento, 7,032 recibieron subsidios durante la Fase 2. La cantidad de beneficiarios de subsidios de la Fase 2 aumentará a medida que NJEDA continúe procesando las solicitudes y distribuyendo los subsidios.

El 20 % de los fondos de los subsidios otorgados durante la Fase 2 del programa se ha destinado a empresas que pertenecen a minorías, el 23 % a aquellas pertenecientes a mujeres y el 2 % que son propiedad de veteranos de guerra.

El Programa de Préstamos para Asistencia de Emergencia a Pequeñas Empresas (Small Business Emergency Assistance Loan Program) proporcionará préstamos de capital de trabajo de hasta $100,000 a empresas con ingresos inferiores a $5 millones. Los préstamos obtenidos en el marco de este programa tienen plazos a diez años y cero por ciento de interés durante los primeros cinco años. Hasta la fecha, NJEDA ha cerrado 76 préstamos a través del programa con un valor total combinado de $5,133,028. De los fondos para préstamos aprobados, el 30 % se destinó a empresas que se identificaban a sí mismas como propiedad de mujeres, el 13 % como perteneciente a minorías y el 5 % a veteranos de guerra.

Además de proporcionar recursos directamente a las empresas, NJEDA se asoció con seis CDFI con sede en New Jersey a través de la CDFI Initiative para ofrecer financiamiento a bajo costo a las pequeñas empresas y microempresas. Con el respaldo de NJEDA, estas CDFI han proporcionado 121 préstamos por un total de $3,673,500. De las empresas aprobadas para recibir préstamos a través de las CDFI, el 45 % se identifica a sí misma como propiedad de mujeres, el 25 como perteneciente a minorías y el 2 % a veteranos de guerra.
NJEDA ha financiado a empresas de economía de innovación en etapa temprana, que están enfrentado una serie particular de desafíos relacionados con la COVID-19. El Programa de Apoyo a Emprendedores de New Jersey (NJ Entrepreneur Support Program) promueve el flujo de capital continuo a las nuevas empresas al proporcionar garantías del 80 % para préstamos de capital de trabajo a los emprendedores. Hasta la fecha, este programa ha respaldado inversiones en 12 compañías con $1,723,996 en concepto de garantías.

En adelante, NJEDA continuará procesando solicitudes para los programas de ayuda para la COVID-19 existentes y otorgando financiación, según corresponda. El organismo continúa analizando nuevas formas de abordar los desafíos que los empresarios y empleados enfrentan y anunciará programas y oportunidades de financiación adicionales cuando estén disponibles.

Encuentre información detallada sobre la respuesta a la COVID-19 de New Jersey y noticias actualizadas sobre asistencia disponibles para empresas e individuos en https://cv.business.nj.gov.

Para leer el plan económico completo del Gobernador Murphy, visite https://nj.gov/economicplan

Acerca de la New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) funciona como la principal agencia del Estado para impulsar el crecimiento económico. La NJEDA está comprometida a hacer de New Jersey un modelo nacional de desarrollo económico inclusivo y sostenible centrándose en las estrategias fundamentales para ayudar a desarrollar comunidades más fuertes y dinámicas, generar buenos puestos de trabajos para los residentes de New Jersey y ofrecer vías para una economía más sólida y justa.

Para obtener más información sobre los recursos de la NJEDA para empresas, llame a Atención al Cliente de NJEDA al 609-858-6767 o visite https://www.njeda.gov y siga a @NewJerseyEDA en Facebook, Twitter y LinkedIn.

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COVID-19 Outbreak New Jersey Economic Development Authority (NJEDA) New Jersey Small and Micro Business PPE Access Program Notice of Funding Availability: Application become available beginning 9:00 am on Wednesday, August 19, 2020