Allentown Examiner
March 17, 2011

Riding High Farm has secured a state loan to support its programming for the disabled. 

The New Jersey Economic Development Authority (EDA) granted the $290,000 loan through the state’s Small Business Fund. This assistance will allow the farm to improve its day program, which helps train people with special needs in equine care and farm management, according to Riding High Farm Executive Director Dennis Kahn. 

Organized as Handicapped High Riders Club in 1979 and now known as Riding High Farm, the nonprofit is dedicated to providing special-needs individuals with recreational and therapeutic horseback-riding instruction. Over the past three decades, the farm’s programs have changed and expanded, but the organization’s original dedication to individuals with special needs continues to be the constant goal, according to Kahn.

 Associated with and certified by the North American Riding for the Handicapped Association as a premier accredited facility, Riding High Farm provides programs that include individual therapeutic riding lessons, group riding lessons to school districts, and an inclusive skill-based summer camp with a curriculum focused on equine-related activities integrating both able-bodied and special-needs campers. The 10.5-acre farm on Route 526 in Allentown has both indoor and outdoor horseback riding arenas. 

The Economic Development Authority’s Small Business Fund supports creditworthy, small, minority-owned or women-owned businesses in New Jersey that have been in operation for at least one year and nonprofit corporations in operation for at least three years. Up to $300,000 is available and can be used for fixed assets and working capital. For more information on the Small Business Fund and other available state resources, contact the Business Action Center at 866-534-7789 or visit www.njeda.gov. For more information about the programs offered at Riding High Farm, call Dennis Kahn at 732-492-0991 or visit www.ridinghighfarm.org

A meeting of the Fort Monmouth Economic Revitalization Authority has been scheduled for Wednesday, March 16, 2011 at 7:00 pm at the Maple Place School, 2 Maple Place, Oceanport, New Jersey 07757. Formal action may be taken at this meeting. A copy of the proposed agenda can be found 48 hours prior to the meeting at the websites of the Fort Monmouth Economic Revitalization Authority: www.nj.gov/fmera, and the New Jersey Economic Development Authority: www.njeda.gov.

March 10, 2011 Update
The proposed agenda for the March 16, 2011 FMERA Board Meeting is available here and through FMERA’s website at www.nj.gov/fmera.

March 17, 2010 Update
The full Board Meeting agenda from the March 16, 2011 meeting is available here and through FMERA’s website at www.nj.gov/fmera.

Please note that actions taken at FMERA Board meetings are not effective until the Governor’s veto period has elapsed.  This is 10 days, excepting holidays and weekends, following the receipt of the minutes.

Countdown to Closure

Bruce Steadman
FMERA Executive Director

September 12, 2011

The closure of a military facility is a complex and painful process. Complex because it includes myriad stakeholders, competing initiatives, limited resources, difficult-to-achieve timelines, and the uniqueness of each affected community. Painful because jobs are lost, futures clouded, and the social fabric of the community is changed forever as the active duty service men and women relocate to another facility.

When Fort Monmouth was selected for closure by the federal Base Realignment and Closure Commission in 2005, the decision was met with grave concern and considerable apprehension. After all, Fort Monmouth has been a major presence in Monmouth County and New Jersey for over 94 years, serving as a source of local pride and community investment. Fort Monmouth was the lead command for the Army in C4ISR development, acquisition and sustainment, and boasted 5, 500 highly skilled employees, one third of which were engineers and scientists. Further, reports show that an estimated 22,000 jobs were supported by the Fort statewide, a concern that was particularly pronounced in the affected communities of Eatontown, Oceanport and Tinton Falls. This is the challenging environment into which FMERA was born.

When the flag comes down on September 15, the Army’s mission at Fort Monmouth officially will end. However, FMERA’s mission will just be beginning, and as we move forward, the FMERA team is committed to the highest level of integrity, responsiveness, and professionalism. We are enthusiastic about the potential that the future holds, and about the many opportunities that await us.

To all of our stakeholders and partners, we give our continued thanks and appreciation for your help and support. To the residents and businesses of Monmouth County and the State of New Jersey, we give our resolve to achieve the successful reuse and redevelopment of Fort Monmouth. To the universe of prospective employers, investors, and developers, we give our promise of an exciting and sustainable project within which to create jobs and investment for years to come.

A meeting of the Fort Monmouth Economic Revitalization Authority has been scheduled for Wednesday, February 16, 2011 at 7:00 pm at the Tinton Falls Municipal Building, 556 Tinton Avenue, Tinton Falls, New Jersey 07724. Formal action may be taken at this meeting. The proposed agenda can be found 48 hours prior to the meeting at the websites of the Fort Monmouth Economic Revitalization Authority: www.nj.gov/fmera, and the New Jersey Economic Development Authority: www.njeda.gov.


February 10, 2011 Update
The proposed agenda for the February 16, 2011 FMERA Board Meeting is available here and through FMERA’s website at www.nj.gov/fmera.


February 17, 2011 Update
The full Board Meeting agenda from the February 16, 2011 meeting is available here and through FMERA’s website at www.nj.gov/fmera.

Please note that actions taken at FMERA Board meetings are not effective until the Governor’s veto period has elapsed.  This is 10 days, excepting holidays and weekends, following the receipt of the minutes.

TRENTON, N.J. (Feb. 4, 2011) –Enhancing Governor Christie’s commitment to economic development and job growth ,  the  New Jersey Economic Development Authority (EDA)- UCEDC partnership today announced closing over $1 million in loans in 2010. This represents one of UCEDC’s highest levels of annual lending since launching its first financing program in 1981. The strategic partnership between UCEDC, a statewide not-for-profit economic development corporation, and the EDA, has greatly expanded the array of training, technical and financial assistance services available to entrepreneurs and small businesses throughout New Jersey.

“Our Administration understands that small businesses play a vital role in New Jersey’s economy and we’ve made supporting these important job creators a top priority,” said Lt. Governor Kim Guadagno. “By partnering with banks and other economic development organizations, the State is able to leverage our resources and ensure entrepreneurs and small businesses have access to the training and capital they need to open, grow, and stay in New Jersey.”

In 2010, the EDA-UCEDC partnership supported 45 businesses across New Jersey with over $1 million in loans. This assistance, which is expected to leverage over $2.3 million in total investment in the state’s economy, is helping to spur the creation of nearly 200 new jobs and ensure the retention of more than 230 existing jobs.  Of the businesses assisted, ten are minority owned, 19 are women-owned and fourteen are start-up companies.  

“For over 30 years, UCEDC has helped entrepreneurs open their doors, assisted established businesses expand into new markets, and provided technical support to the local business community,” said UCEDC President Maureen Tinen.  “We are thrilled to have achieved this exciting milestone in 2010 and we look forward to continuing to work with the EDA to provide entrepreneurs with the resources they need to grow their business in New Jersey.”

Businesses that received assistance in 2010 include minority-owned Prep Boyz, LLC, an Elizabeth-based company that provides bed bug eradication preparation services for homeowners and businesses.  Owner Edward Roberts received personalized technical assistance to start his business, followed by a $10,000 microloan in February 2010 to improve cash flow, purchase equipment and supplies, and better promote his company.  He came back to UCEDC in December for a $15,000 microloan, which enabled him to get a performance bond and a contract with the City of East Orange. Roberts has already added two new employees to his original staff of eight. 

In Jersey City, Melissa Cullen was able to open Riverview Bark after enrolling in UCEDC’s Entrepreneurial Training Initiative and taking advantage of 18 months of support from a UCEDC business mentor.   The do it yourself dog wash and boutique also got a boost when it secured a $12,000 microloan from UCEDC to support equipment purchases. 

When Kathi Sica, co-owner of Ocean City Seafood, needed funds to purchase new equipment, a $27,000 UCEDC microloan helped her acquire soup warmers, a pizza oven, and an extra fryer – all critical to the restaurant’s ability to meet the demands of its growing customer base.  

Through its partnership with the EDA, UCEDC offers various training workshops that are available in English and Spanish, including a series of courses that help develop financial and business literacy for business owners at all stages of maturation; a comprehensive program that walks entrepreneurs through all aspects of starting a business, culminating in the development of a business plan; and, a year-long quality management systems training program that makes businesses more competitive globally.  All UCEDC clients receive one-on-one business counseling customized to meet the specific needs of their businesses.  Through its microloan program and business growth fund, UCEDC also offers a range of financing vehicles to address business needs at every stage of growth.  In addition, UCEDC’s award winning procurement department helps small businesses secure government contracts and subcontracts through specialized trainings, daily electronic bid-match, and one-on-one counseling throughout the bidding and proposal process.             

For more information on UCEDC, visit www.ucedc.com or call (908) 527-1166. To learn more about opportunities for business growth throughout New Jersey, visit www.njeda.gov or contact the Business Action Center at (866) 534-7789.

TRENTON, N.J. (Feb. 2, 2011) – The Christie Administration’s commitment to bring more companies and jobs to the Garden State was enhanced with the addition of alice + olivia by Stacey Bendet to its new location in Secaucus. The clothing design company, which expects to create 70 new jobs in the state, recently moved to a 75,000-square-foot facility that will house warehouse and administrative operations.

“The Christie Administration has made economic development and job creation a top priority, and alice + olivia by Stacey Bendet’s decision to set up shop in Secaucus is another indication that New Jersey is being redefined in the marketplace,” said Linda Kellner, Acting Executive Director of the New Jersey Business Action Center.  “As we continue to make our state a home for growth, our message is loud and clear – New Jersey means business.”

Founded in 2002 by CEO Stacey Bendet, alice + olivia started with a “just pants” collection and today offers a full line of products for women, men and children. The company recently expanded its portfolio to include accessories and also will be launching a shoe collection this spring. alice + olivia by Stacey Bendet has five free standing boutiques in New York City, Los Angeles, Malibu, Greenwich and Southampton, and the company’s merchandise is available in more than 700 stores worldwide.

“alice + olivia needed a location to accommodate our evolving business, and we were excited to kick off the New Year by opening our newest facility in New Jersey,” said founder and CEO, Stacy Bendet.

To support the company’s move to New Jersey and the creation of 70 new jobs in the state, New Jersey awarded alice + olivia by Stacey Bendet a Business Employment Incentive Program (BEIP) grant worth an estimated $340,112 over ten years.  The company was also considering opening its new facility in Pennsylvania.

To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.

PNC Bank and New Jersey Economic Development Authority Announce $50 Million for Job Creation Fund

TRENTON, N.J. (Feb. 1, 2011) – In line with Governor Chris Christie’s efforts to spur job creation and economic growth in New Jersey, PNC Bank today announced it has significantly increased its commitment to New Jersey’s small and mid-sized businesses.  Under the New Jersey Business Growth Fund, which is administered in partnership with the New Jersey Economic Development Authority (EDA), PNC Bank has doubled its commitment from $25 million in 2010 to $50 million in 2011. 

“Governor Christie and Lieutenant Governor Kim Guadagno have taken great strides to make New Jersey a home for growth, and PNC’s commitment is another strong endorsement of the state’s improving business climate,” said EDA Chief Executive Officer Caren S. Franzini. “By doubling the amount of available financing, even more small and mid-sized businesses in the state will be able to access the capital they need to thrive.”

Under the program, creditworthy companies that are retaining or creating jobs in New Jersey may be eligible for up to a $3 million PNC Bank loan with a 25-percent or 50-percent EDA guarantee.  Companies must commit to creating one full-time job in the state for every $50,000 of guarantee provided by the EDA, with the exception of manufacturers, which must commit to maintaining one existing full-time job per $50,000. Funding can be used for machinery and equipment or real estate, with loan terms of up to five years for machinery and equipment and up to five years for owner–occupied real estate purchases. 

“PNC’s continued participation in the New Jersey Business Growth Fund represents our long-standing commitment to invest in businesses in the communities where we live and work,” said Linda Bowden, northern New Jersey regional president of PNC Bank.  “Small and mid-sized businesses are the bedrock of our economy, and it’s critical for them to have access to capital at affordable rates so they can continue to expand and grow in this challenging environment.”

In 2010, the program supported 40 businesses across the state that expect to maintain more than 500 existing jobs and create nearly 160 new jobs. Companies that benefited include: Romanelli’s Garden Café, a Galloway-based restaurant; Flemington-based Mechanical Precision, Inc., a machine shop specializing in CNC machining, prototypes, precision welding, machine building, engineering and design; Jersey Gasoline Corporation, a Woodbridge-based transporter of petroleum to gasoline stations throughout Central New Jersey; and, Asbury Park-based Knock-Out Graphics, Inc., a company that provides graphics and printing enhancement services to commercial businesses.

PNC is actively lending to businesses of all sizes, including $3.5 billion to small businesses in 2010.  The New Jersey Business Growth Fund, which has served as a critical driver of expansion for many small businesses in New Jersey, complements the numerous financing options that PNC makes available to small businesses, including lines of credit, term loans, SBA loans and business credit cards that PNC makes available to companies seeking to better manage their cash flow.

Since inception of the New Jersey Business Growth Fund, 265 projects have received more than $125 million in PNC loans with EDA guarantees of over $39 million. 

Applications are available at all PNC Bank branches in New Jersey, at www.pncbank.com, at www.njeda.gov, or by calling PNC Bank at 877- BUS-BNKG (877-287-2654). To learn more about opportunities for business growth throughout New Jersey, contact the Business Action Center at (866) 534-7789.