Annie D'Agostino, Author at NJEDA

Project Diversity Goals Require Good-Faith Effort to Award 15 Percent of Contract Value to Women-, Minority-, or Veteran-Owned Subcontractors

TRENTON, N.J. (November 30, 2020) – The New Jersey Economic Development Authority (NJEDA) today took a major step toward development of the New Jersey Wind Port, a first-of-its-kind offshore wind manufacturing and marshalling facility located in Lower Alloways Creek, by issuing a Request of Qualifications (RFQ) for Construction Management Services related to the project. In line with the NJEDA’s commitment to utilizing local union labor and setting a new standard for diversity and inclusion, the project will be subject to a Project Labor Agreement (PLA) and the RFQ includes a goal of awarding 15 percent of the total contract value to subcontractors, equipment lessors, and/or material suppliers that are minority-, women-, or veteran-owned.

The RFQ is available on the NJEDA website at NJEDA – Bidding Opportunities – Real Estate Procurement Opportunities. Responses are due by 1:00 p.m. on January 5, 2021.

“Offshore wind is a rapidly growing industry, and a wave of major projects is already planned along the East Coast. By providing purpose-built infrastructure that supports the industry’s unique needs, the New Jersey Wind Port will attract millions of dollars in investment and create thousands of good jobs for New Jersey residents,” said NJEDA Chief Executive Officer Tim Sullivan. “The RFQ issued today is an important step that moves us closer to realizing the economic and environmental benefits that an expanded offshore wind industry will bring to New Jersey, and the PLA and diversity benchmarks will ensure these benefits are available equitably to local workers and women- and minority-owned businesses.”

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. The Wind Port has the potential to create up to 1,500 manufacturing, assembly, and operations jobs, as well as hundreds of construction jobs in New Jersey. Manufacturing and marshalling projects supported by the Wind Port will drive economic growth in Salem County, in South Jersey, and throughout the state.

Construction of the New Jersey Wind Port is planned in two phases, beginning in 2021. Phase 1 will comprise the development of an approximately 30-acre site to accommodate marshalling activities and an approximately 35-acre Tier 1 component manufacturing site. Phase 2 adds a further 150 acres or more to accommodate expanded marshalling activities and extensive manufacturing facilities for turbine components like blades and nacelles.

The RFQ released today seeks to identify a Construction Manager at Risk (CM) for the New Jersey Wind Port project. The selected CM will perform both Pre-Construction and Construction services to execute on the NJEDA’s proposed design. The project will be subject to a Project Labor Agreement (PLA), which will help to ensure local union workers have the opportunity to work on the project and that it is completed on schedule. In line with the Authority’s goal to use the project to set a new standard for diversity and inclusion, the selected CM will be required to make a good-faith effort to ensure at least 15 percent of the contract value is subcontracted to women-, minority-, or veteran-owned businesses.

Progress toward these diversity and inclusion goals as well as the continued engagement of local South Jersey businesses and women-, minority-, and veteran-owned businesses will be informed by a New Jersey Wind Port Diversity and Local Engagement Advisory Committee. Created to increase opportunities for historically marginalized populations and local community members to participate in the New Jersey Wind Port project, the Diversity and Local Engagement Advisory Committee will provide input and thought leadership on the project and overall development of New Jersey’s offshore wind industry. The Advisory Committee will hold its first meeting before the end of 2020.

“Providing equitable access to the opportunities the New Jersey Wind Port creates is central to achieving the NJEDA’s goal of making this project a new standard for diversity and supporting Governor Murphy’s vision for a stronger, fairer New Jersey,” said NJEDA Chief Diversity and Inclusion Officer Michelle Bodden. “In the past, women- and minority-owned businesses, as well as other historically marginalized groups, have been left out of projects of this scope. Taking a proactive approach that prioritizes including diverse businesses during the construction phase is a first step in reversing this trend and ensuring that the Wind Port’s economic benefits are distributed fairly.”

More information and the full RFQ is available at NJEDA – Bidding Opportunities – Real Estate Procurement Opportunities. Questions regarding the RFQ must be submitted by email to QARED@njeda.com by 11:00 a.m. on Wednesday, December 16, 2020. Questions and answers will be posted on the NJEDA’s website.

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

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, Instagram, and LinkedIn.

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As we head into Small Business Saturday, the charts below help us understand COVID-19’s impact on small businesses, a sector of the New Jersey economy that has been hit especially hard by the pandemic. The good news for local small businesses is that COVID-19 presents a double-edged sword in terms of local spending. The pandemic has created challenges for small businesses, but it has also caused most NJ residents to stay close to home and enticed new residents into the state, which means a larger portion of these residents’ consumer dollars are also staying closer to home and supporting local businesses. In addition, the New Jersey Economic Development Authority (NJEDA) has created new programs to provide small businesses with much-needed financial support and technical assistance to help get them through these rough times.

Indicator 1 – Small Business Revenue

Source: Opportunity Insights Economic Tracker

This first economic indicator shows New Jersey small business revenue for all industries and revenue broken out by two specific areas of industry: retail and transportation, and leisure and hospitality. Here, small businesses are defined as businesses with annual revenue below U.S. Small Business Administration thresholds^[1]. The chart depicts changes in revenue relative to where it was right before COVID-19 arrived in New Jersey to give a picture of how small business revenue has been impacted by the pandemic.

There are a few readily apparent narratives illustrated in the chart. One is that small business revenue has taken a huge hit. As of the first week of November, small business revenue was down more than 30 percent relative to January. This revenue decline actually represents a significant recovery from the depths of the economic shutdown, when revenue was down nearly 60 percent. But after recovering a good portion of lost revenue through the summer, small business revenue levels have been relatively stagnant, signaling a lack of momentum in the small business economy. The chart also shows that, as the COVID-19 new case rate has risen back to levels seen in April, small business revenue is suffering another downturn. Since late October, small business revenue has deteriorated from around -24 percent to -32 percent.

A third and clearly apparent narrative is that COVID-19 has had differential impacts on several industries. For instance, the pandemic has had an especially large impact on the leisure and hospitality industry, where revenues are down more than 50 percent, while in retail and transportation, revenue had essentially recovered to pre-COVID levels. Unfortunately, as virus cases are rising sharply, retail and transportation revenue is again declining sharply.

Indicator 2 – Cash on Hand

Source: US Census Bureau

In the context of this latest surge in virus cases, it is important to consider the breadth of small business cash levels as indication of how prepared these businesses are to weather another demand decline. This chart shows the percentage of small businesses that report having cash levels that can cover one month or more of expenses. The data is pulled from the Small Business Pulse, which is a survey that measures the effect of changing business conditions during the pandemic on small businesses.

As the chart shows, coming into May, a little more than 30 percent of small businesses in New Jersey reported having cash levels to cover a month or more of expenses. Then, as the Paycheck Protection Program (PPP) provided much needed cash to small businesses, cash levels improved markedly. According to the survey, approximately 70 percent of New Jersey small businesses received PPP loans. At its high point, almost 55 percent of small businesses reported having cash levels to cover one month or more of expenses. But as PPP becomes more of a distant memory, cash levels have deteriorated. In the latest weekly survey, only 43 percent of small businesses reported having one month or more of cash in reserve. And as COVID cases are on the rise and activity slows, we’re almost certain to see cash levels deteriorate further. This will create a pressing need for additional funding support for small businesses. At the time of this publication, the NJEDA in 2020 had approved over $150 million in grants to New Jersey’s small businesses, of which over $85 million were approved since the beginning of November. This recent surge in funds will help provide much needed resources to the small business community.

Indicator 3 – Small Business Ownership by Race, Ethnicity, and Sex

Source: US Census Bureau

Small Businesses provide significant economic opportunities to more economically marginalized groups. These businesses are more likely to be minority- or woman-owned than larger businesses, which means the drop in small business activity has had an outsized economic impact on minorities and women. This is especially true in the accommodations and food services industries, where significantly higher shares of businesses are minority- and woman-owned (approximately 37 percent and 33 percent respectively). Unfortunately, accommodations and food services has been amongst the hardest hit industries, with revenue down more than 50 percent from pre-pandemic levels. This has an outsize impact on historically marginalized groups and creates an even more pressing need for economic assistance that specifically supports these communities. Once again, the NJEDA has been working to help these communities. Of the over $150 million in grants approved this year, approximately 24 percent has been to minority-owned businesses, 26 percent to women-owned businesses, and 30 percent to small businesses in opportunity zones. Note these are non-mutually exclusive shares that have a significant amount of overlap.

[1] https://www.sba.gov/sites/default/files/2019-08/SBA%20Table%20of%20Size%20Standards_Effective%20Aug%2019%2C%202019_Rev.pdf

TRENTON, N.J. (November 25, 2020) – The New Jersey Economic Development Authority (NJEDA) and the New Jersey Department of the Treasury today announced the installation of artwork from 11 Mercer County artists into the newly constructed New Jersey Department of Health building on Willow Street in Trenton. The installation marks one of the final steps in the construction of the first new state office buildings in Trenton in more than 25 years.

The State Office Building Development Project is a partnership between the NJ Department of the Treasury’s Division of Property Management and Construction (DPMC) and the NJEDA. As the client, Treasury authorized the NJEDA to fund and provide development and construction services for the new Department of Health and Division of Taxation buildings in downtown Trenton. Department of Health employees have already begun moving into the new building, located at 55 N. Willow Street. The Division of Taxation building is scheduled for completion in early 2021.

The artwork, installed yesterday, was provided by the following artists:

Adriana Groza of Hamilton (Acrylic painting on canvas entitled “Chasing Dragons”)

Alan Chimacoff of Princeton (Photographs entitled “Corrugated,” “TTN Corrugated,” and “Modern Tradition”)

Alia Bensliman of Robbinsville (Ink drawing entitled “I Am Roebling”)

C.a. Shofed of Trenton (Photograph entitled “Colors of Hamilton Avenue“)

Patrick Compagnucci of Trenton (Photograph titled “Inner City Dreams”)

Joyce Chen of Hightstown (Mixed media collage entitled “Orange Crème”)

Marina Ahun of Princeton (Digital print- Giclee entitled “Bridge ‘Trenton Makes/The World Takes’”)

Richard Chenoweth of Princeton (Watercolor painting entitled “Morning on the Millstone“)

Rich Hundley of Hamilton (Photograph titled “Capital Flyover”)

Sean Carney of Robbinsville (Painting – wood stain on wood – entitled “Main Street America”)

Sejal Krishnan of Princeton (Acrylic and latex painting entitled “Lily Pond”)

“Our state’s artists each have a unique story to tell, which they often express through their artwork,” said Department of Health Commissioner Judith M. Persichilli. “We are thrilled to be showcasing the talents of these local artists in this highly-visible and enduring manner.”

Two representatives from the Department of Health were a part of the 10-person selection committee that chose the artwork for the building, along with representatives from the community, as well as arts experts, architects, building stakeholders, the New Jersey State Council on the Arts, and employees with NJEDA and the Department of Treasury.

“We knew early in the State Office Building Development Project process that we wanted to feature local artists in prominent spots throughout the Department of Health building,” said Danielle Bursk, Director of Artist Services & Public Art at the New Jersey State Council on the Arts. “The selection committee received and reviewed over 600 submissions from within Mercer County and, from those, brought in 25 artists to showcase their work in person before making a final decision.”

The artwork was selected in coordination with the New Jersey State Council on the Arts who issued a call for artists earlier this year, pursuant to the Public Buildings Arts Inclusion Act (N.J.S.A. 52:16A-29 to – 42) which governs how art is selected for newly-constructed public buildings.

“New Jersey has a vibrant arts and culture community that contributes more than $23 billion to New Jersey’s economy each year,” said NJEDA Chief Executive Officer Tim Sullivan. “Spotlighting this artwork in state office buildings will serve as an inspirational reminder of the breadth of creativity stemming from our state’s talented artists.”

As part of Governor Phil Murphy’s goal to build a stronger and fairer New Jersey economy, Treasury and the NJEDA hosted two Subcontractor Opportunity Forums to help small, women, minority, and veteran-owned subcontracting companies (SMWVBEs) explore opportunities to work on the State Office Building Development Project. Since construction began in December of 2018, eight of the 14 professional services providers and 69 of the 119 subcontractors hired to work on the projects are local and/or SMWVBEs.

“Engaging the local community to enhance the aesthetics of the buildings is part of our broader effort throughout this endeavor to foster opportunities for a diverse network of individuals and small businesses,” said New Jersey State Treasurer Elizabeth Maher Muoio. “This has been central to our work from the very beginning of the State Office Building Development Project and it continues to be as we near the projects’ completion.”

The NJEDA expects to announce the artwork selected for the Division of Taxation building in the coming weeks.

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.

About the New Jersey Department of Treasury
The New Jersey Department of the Treasury is one of the oldest units of state government and oversees a broad range of fiscal matters for the State of New Jersey. Comprised of a dozen divisions and countless other “in but not of” agencies and offices, Treasury is responsible for, among other things, management of the state budget; administering pensions and health benefits for state and local public employees; operating one of the largest lotteries in the country; administering and collecting taxes; issuing business certifications; purchasing and procurement; managing and maintaining hundreds of state-owned or leased facilities; overseeing construction of public works building projects; and managing the investments for one of the largest pension funds in the country.

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 and Instagram.

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TRENTON, N.J. (November 24, 2020) – The New Jersey Commission on Science, Innovation and Technology today announced that early-stage innovation companies engaged in the Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer Program (STTR) funding can now apply for financial assistance through the New Jersey SBIR/STTR Direct Financial Assistance Program. This marks the second consecutive year that CSIT is offering the program, which was created to enhance the state’s innovation economy by strengthening the competitiveness of Garden State businesses engaged in the federal SBIR/STTR Program. The application can be found at https://www.njeda.gov/csit.

The federal SBIR and STTR grant programs provide more than $3 billion each year to small businesses in a variety of technology and life sciences areas that propose innovative ideas that meet specific federal research and development (R&D) needs. The SBIR program enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. The STTR program funds cooperative R&D partnerships between small businesses and research institutions such as universities, federal R&D centers, or non-profits. The programs are open to U.S.-based, for-profit small businesses with fewer than 500 employees.

“Governor Phil Murphy has made a strong commitment to reclaiming New Jersey’s role as a leader in innovation while focusing on increasing diversity and inclusion in the state’s innovation ecosystem,” said CSIT Chairman Gunjan Doshi. “Through initiatives like the New Jersey SBIR/STTR Direct Financial Assistance Program, CSIT is furthering this goal by connecting early-stage companies with capital they need to accelerate the commercialization of their technologies.”

Doshi noted that this round of the New Jersey SBIR/STTR Direct Financial Assistance Program will offer $550,000 in grants to New Jersey small businesses in two program components. The first component (Direct funding) will provide $25,000 grants to twelve (12) small businesses that have received a federal SBIR/STTR Phase I, Fast-Track or Direct to Phase II award/contract. The second component (Bridge funding) will provide $50,000 grants to five (5) NJ small businesses that have successfully completed Phase I and have applied for Phase II of the federal SBIR/STTR program. These funds can be utilized to maintain project activities and cover general operating costs.

“Emerging New Jersey companies have a proven track record of discovering and developing ground-breaking technologies and life-saving therapies that impact the global marketplace,” said CSIT Executive Director Judith Sheft. “Funding through this program will serve to bolster their financial positions as they vie for federal grants and continue their critical R&D.”

The application, which can be accessed directly at https://application.njeda.com/CSIT, will be open until January 8, 2021. CSIT will hold an informational webinar on December 9 for potential program applicants to learn about the application process. A link to the webinar will be available at https://www.njeda.gov/csit.

“Providing funds through the NJ SBIR/STTR Direct Financial Assistance Program not only supports the efforts of emerging New Jersey companies as they collaborate with governmental agencies, but also adds to the attractiveness that the Garden State offers small, innovation-focused businesses considering growing here,” said State Senator Robert Singer.

In keeping with the Governor’s vision, applications from businesses located in an Opportunity Zone-eligible census tract, minority- or woman-owned businesses or businesses with technology coming out of New Jersey universities are all eligible for bonus points with respect to the scoring criteria. Additionally, applicants who are winning a federal award for the first time will also receive a scoring bonus.

“Two of New Jersey’s greatest assets are the diversity of its people and the talent of its workforce,” said Assemblyman Andrew Zwicker. “Ensuring that New Jersey scientists and innovators have the resources they need to compete on the worldwide stage is fundamental to our duties as Commission members and as leaders of the innovation ecosystem.”

In addition to Senator Singer and Assemblyman Zwicker, Senator Paul Sarlo and Assemblyman Christopher DePhillips are members of the bi-partisan Commission, which also includes representatives from the public and private sectors, as well as academia.

The New Jersey SBIR/STTR Support Program awarded state funding to13 companies during its initial round.

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La Autoridad distribuyó más de $165 millones en ayuda económica desde marzo

TRENTON, N.J. (24 de noviembre de 2020) – La Autoridad para el desarrollo económico de New Jersey (NJEDA) anunció hoy que proporcionó más de $165 millones en fondos de ayuda durante la COVID-19 a más de 30,000 empresas. El anuncio de la Autoridad antecede al lanzamiento de la temporada de fin de año para la mayoría de las empresas, que comienza con Acción de Gracias y los feriados comerciales complementarios Black Friday, Small Business Saturday y Cyber Monday.

"Durante la pandemia de COVID-19, mi administración se concentró no solo en abordar la crisis de salud pública que el virus provocó, sino también de proporcionar apoyo económico a las miles de empresas y trabajadores que han sido afectados por la pandemia. La NJEDA ha sido fundamental para estos esfuerzos, actuando rápidamente para implementar nuevos problemas que han otorgado millones de dólares a más de 30,000 empresas en las comunidades de nuestro estado", afirmó el Gobernador Phil Murphy. "Estos esfuerzos han sido vitales para poder atravesar los días más oscuros de la pandemia, y el trabajo continuo de la NJEDA ayudará a que muchas más empresas superen los desafíos que hoy enfrentan y a lograr una recuperación sólida".

"Desde marzo, el Gobernador Murphy priorizó el apoyo a las pequeñas empresas que están soportando los embates del impacto económico de la pandemia de COVID-19. El personal de la NJEDA trabajó incansablemente para brindar ayuda a más de 30,000 empresas hasta ahora, y esperamos apoyar a miles más antes de fin de año", expresó el Director ejecutivo de la NJEDA, Tim Sullivan. "La COVID-19 creó una necesidad extraordinaria y continua de ayuda económica en todo el estado de New Jersey. La NJEDA está comprometida a hacer todo lo posible para abordar esta necesidad ahora y proporcionar el apoyo continuo que las empresas y las comunidades necesitan para recuperarse".

El conjunto de programas de ayuda para la COVID-19 de la NJEDA proporciona una variedad de recursos para empresas de todos los tamaños, incluidos subsidios para pequeñas empresas, préstamos con bajo intereses, apoyo para prestamistas del sector privado y CDFI, y financiamiento para emprendedores. El programa más grande de la NJEDA durante la COVID-19 es el Programa de subsidios de asistencia de emergencia para pequeñas empresas, que proporciona subsidios para pequeñas empresas afectadas por la pandemia. Hasta la fecha, 22,390 pequeñas empresas fueron aprobadas para recibir subsidios por un total de más de $65 millones a través de las fases 1 y 2 del programa. A fin de garantizar la distribución equitativa de fondos durante la Fase 2 del programa, la NJEDA dispuso un tercio de los fondos para apoyar a las empresas calificadas ubicadas en una de las 715 áreas censales elegibles para ser seleccionadas como una Zona de oportunidad de New Jersey. Esta estrategia ha ayudado a garantizar que las empresas propiedad de minorías y de mujeres que fueron las más afectadas por el impacto económico causado por la pandemia hayan podido recibir la ayuda que necesitan.

En octubre, la NJEDA lanzó la Fase 3 del Programa de subsidios de asistencia de emergencia para pequeñas empresas con $70 millones en fondos de la ley CARES. La Fase 3 amplió aún más la elegibilidad a cualquier empresa u organización sin fines de lucro de New Jersey con 50 empleados o menos, y aumentó también el monto de los fondos que las empresas pueden recibir. Para garantizar que los fondos vayan a las empresas que más los necesitan, la NJEDA destinará los subsidios de la Fase 3 a restaurantes, microempresas y empresas que se encuentren en las áreas censales elegibles para ser designadas como Zonas de oportunidad. Más de 22,000 empresas presentaron su solicitud para los subsidios de la Fase 3, y a principios de noviembre, el Gobernador Murphy destinó $60 millones adicionales en fondos de la Ley CARES al programa para garantizar que todos los solicitantes elegibles reciban fondos. Hasta la fecha, 9,081 pequeñas empresas fueron aprobadas para recibir subsidios por un total de más de $80 millones.

Además del apoyo específico para restaurantes que se incluye en la Fase 3 del Programa de subsidios de asistencia de emergencia, la NJEDA recientemente anunció Sustain and Serve NJ (Apoya y sirve a NJ), un programa de subsidios por $2 millones que proporcionará fondos para que organizaciones compren comida a restaurantes que han sido afectados negativamente por la pandemia de COVID-19 y las distribuyan sin costo a los residentes de New Jersey.

Para ayudar a las empresas a comprar el PPE que necesitan para preservar la seguridad de empleados y clientes durante la temporada de fin de año, la NJEDA lanzó el Programa de acceso a PPE para pequeñas y microempresas de NJ. El programa ofrece un descuento del 10% en una selección de productos de PPE para todas las empresas de New Jersey a través de "Proveedores designados" aprobados por la NJEDA, que incluyen Boxed, Office Depot y Staples. El programa también permite que las empresas con 100 empleados equivalentes a tiempo completo (FTE) o menos soliciten cupones que ofrecen descuentos adicionales para compras realizadas a través de ciertos proveedores designados. Hasta la fecha, la NJEDA otorgó cupones por un total de aproximadamente $850,000 a 1,950 empresas.

Otro componente importante de los esfuerzos de ayuda de la NJEDA ante la COVID-19 ha sido proporcionar opciones de financiamiento a bajo costo. El Programa de préstamos de emergencia para pequeñas empresas proporciona préstamos de capital de trabajo de hasta $100,000 a empresas con ganancias de menos de $5 millones, y la Autoridad también se asoció con seis instituciones financieras para el desarrollo comunitario (CDFI) de New Jersey, que orientan al menos el 60% de sus actividades financieras a poblaciones con ingresos bajos y moderados o comunidades marginadas. Hasta la fecha, la NJEDA aprobó 150 préstamos por un total combinado de más de $10.3 millones a través del Programa de préstamos de emergencia, y las seis CDFI asociadas proporcionaron 280 préstamos por un total de más de $7 millones.

NJEDA también ha apoyado a empresas nuevas de innovación económica, que están enfrentando sus propios desafíos relacionados con la COVID-19. El Programa de apoyo a emprendedores de NJ fomenta flujos de capital continuos para nuevas empresas proporcionando garantías por el 80% de los préstamos para préstamos de capital de trabajo a emprendedores. Hasta la fecha, este programa ha apoyado inversiones en 12 empresas con más de $1.8 millones en garantías.

Además del apoyo económico, la NJEDA también ha proporcionado una variedad de programas de asistencia técnica para empresas que enfrentan el desafío de adaptarse a las nuevas pautas de salud y seguridad. La Autoridad se asoció con la Cámara de comercio afroamericana de New Jersey (AACCNJ, por sus siglas en inglés), la Cámara de comercio hispana a nivel estatal de New Jersey (SHCCNJ, por sus siglas en inglés), la Cámara de comercio estatal de veteranos de New Jersey y Rising Tide Capital para proporcionar asistencia técnica a 447 empresas que solicitaron apoyo federal a la Administración de pequeñas empresas. Desde entonces, la Autoridad ha implementado otras iniciativas para ayudar a las empresas a adaptarse a hacer negocios de forma segura durante la pandemia, incluida consultoría comercial gratuita para microempresas en zonas de oportunidad, y capacitación en soluciones de comercio electrónico para empresas minoristas y restaurantes. 57 empresas ya recibieron apoyo de estos programas.

En vistas al futuro, la NJEDA seguirá explorando nuevas maneras de abordar los desafíos que enfrentan propietarios y empleados de empresas como consecuencia de la pandemia de COVID-19, y anunciará más programas y oportunidades de financiamiento a medida que estén disponibles. Puede encontrar información completa sobre la respuesta de NJEDA a la COVID-19 en https://covid19.business.nj.gov.

Acerca de la Autoridad para el desarrollo económico de New Jersey
La Autoridad para el desarrollo económico de New Jersey (NJEDA) es la agencia principal del Estado para impulsar el desarrollo económico. La NJEDA tiene el compromiso de hacer del Estado de New Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de New Jersey y ofrecer oportunidades para una economía más sólida y justa. Mediante asociaciones con diversas partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de New Jersey.

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

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Authority has distributed more than $165 million in economic relief since March

TRENTON, N.J. (November 23, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that it has provided more than $165 million in COVID-19 relief to more than 30,000 businesses since March 2020. The Authority’s announcement comes in advance of the kickoff of most businesses’ holiday seasons, which begins with Thanksgiving and the accompanying retail-oriented holidays Black Friday, Small Business Saturday, and Cyber Monday.

“Throughout the COVID-19 pandemic, my administration has focused on not only addressing the public health crisis the virus has caused but also providing economic support to the thousands of businesses and workers who have been impacted by the pandemic. The NJEDA has been central to these efforts, acting quickly to stand up new programs that have provided millions of dollars to more than 30,000 businesses in communities across our state,” said Governor Phil Murphy. “These efforts have been vital to getting us through the darkest days of the pandemic, and the NJEDA’s ongoing work will help many more businesses overcome the challenges they face today and make a strong recovery.”

“Since March, Governor Murphy has made it a top priority to support small businesses that are bearing the brunt of the COVID-19 pandemic’s economic impact. NJEDA staff has worked tirelessly to provide relief to more than 30,000 businesses already, and we expect to support thousands more before the end of the year,” said NJEDA Chief Executive Officer Tim Sullivan. “COVID-19 has created an extraordinary and ongoing need for economic relief throughout New Jersey. The NJEDA is committed to doing all we can to meet this need now and to provide the ongoing support businesses and communities need to recover.”

The NJEDA’s suite of COVID-19 relief programs provides a variety of resources for businesses of all sizes, including grants for small businesses, low-interest loans, support for private-sector lenders and CDFIs, and funding for entrepreneurs. The NJEDA’s largest COVID-19 program is the Small Business Emergency Assistance Grant Program, which provides grants to small businesses impacted by the pandemic. To date, 22,390 small businesses have been approved for grants worth a total of more than $65 million through Phases 1 and 2 of the Program. To ensure equitable distribution of funds, during Phase 2 of the program, the NJEDA set aside one-third of the funding for qualified businesses located in one of the 715 Census tracts that were eligible to be selected as a New Jersey Opportunity Zone. This targeting helped to ensure minority- and women-owned businesses that were hardest hit by the pandemic’s economic impact were able to get the support they need.

In October, the NJEDA launched Phase 3 of the Small Business Emergency Assistance Grant Program with $70 million in CARES Act funds. Phase 3 further expanded eligibility to any business or nonprofit located in New Jersey with 50 or fewer employees and further increased the amount of funding businesses could receive. To ensure funds flow to businesses that need them most, the NJEDA targeted Phase 3 grants to restaurants, micro-businesses, and businesses in census tracts that were eligible to be designated as Opportunity Zones. More than 22,000 businesses applied for Phase 3 grants, and in early November, Governor Murphy committed an additional $60 million in CARES Act funds to the program to ensure all eligible applicants receive funding. To date, 9,081 businesses have been approved for grants totaling more than $80 million.

In addition to the targeted support for restaurants included in Phase 3 of the Emergency Assistance Grant Program, the NJEDA recently announced Sustain and Serve NJ, a $2 million grant program that will provide funding to organizations to purchase meals from restaurants that have been negatively impacted by the COVID-19 pandemic and distribute the meals at no cost to New Jersey residents.

To help businesses purchase the PPE they need to keep employees and customers safe during the holiday season, the NJEDA launched the NJ Small and Micro Business PPE Access Program. The program offers a 10 percent discount on a curated selection of PPE products to all New Jersey businesses through NJEDA-approved “Designated Vendors,” including Boxed, Office Depot, and Staples. The program also allows businesses with 100 or fewer full-time equivalent employees (FTEs) to apply for vouchers that provide additional discounts on purchases made through certain Designated Vendors. To date, the NJEDA has awarded vouchers totaling nearly $850,000 to 1,950 businesses.

Another important component of the NJEDA’s COVID-19 relief efforts has been providing low-cost financing options. The Small Business Emergency Assistance Loan Program provides working capital loans of up to $100,000 to businesses with less than $5 million in revenues, and the Authority has also partnered with six New Jersey-based Community Development Financial Institutions (CDFIs), which target at least 60 percent of their financing activities to low- and moderate-income populations or underserved communities. To date, the NJEDA has approved 150 loans worth a combined total of more than $10.3 million through the Emergency Assistance Loan Program and the six partner CDFIs have provided 280 loans worth a total of more than $7 million.

The NJEDA has also supported early-stage innovation economy businesses, which are facing their own unique set of COVID-19-related challenges. The NJ Entrepreneur Support Program encourages continued capital flows to new companies by providing 80 percent loan guarantees for working capital loans to entrepreneurs. To date, this program has supported investments in 12 companies with more than $1.8 million in guarantees.

In addition to financial support, the NJEDA has also provided a variety of technical assistance programs for businesses struggling to adjust to new health and safety guidelines. The Authority partnered with the African American Chamber of Commerce of New Jersey (AACCNJ), the Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ), the New Jersey State Veterans Chamber of Commerce, and Rising Tide Capital to provide technical assistance for 447 businesses applying for federal Small Business Administration support. Since then, the Authority has rolled out a number of other initiatives to help businesses adjust to doing business safely during the pandemic, including free business consulting for micro-businesses in Opportunity Zones and training on ecommerce solutions for retail businesses and restaurants. 57 businesses have received support from these programs.

Looking to the future, the NJEDA plans to continue exploring new ways to address the challenges business owners and employees face as a result of the COVID-19 pandemic and will announce additional programs and funding opportunities as they become available. Comprehensive information about the NJEDA’s COVID-19 response is available at https://covid19.business.nj.gov.

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, Instagram, and LinkedIn.

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Businesses and organizations with 100 or fewer employees can apply for nearly 70 percent discounts on PPE purchases

TRENTON, N.J. (November 23, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that it will increase the discounts available on purchases of personal protective equipment made through the NJ Small and Micro Business PPE Access Program to nearly 70 percent, effective Tuesday, November 24, 2020. The Authority will also double the per-business cap on discount vouchers. These discounts will be available to New Jersey businesses and nonprofits with 100 or fewer employees until December 10, 2020. More information is available at https://covid19.nj.gov/ppeaccess.

“As the weather gets colder and the holiday shopping season approaches, reliable access to affordable PPE is more important than ever for New Jersey small businesses,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJ Small and Micro Business PPE Access Program is a unique collaboration between government and industry that helps business owners identify their specific PPE needs and acquire the products they need to keep their employees and customers safe. At a time when all businesses are struggling and small businesses are facing particularly tough challenges, the discounts this program offers are crucial to ensuring a safe and successful holiday season for the New Jersey business community.”

The NJ Small and Micro Business PPE Access Program allows New Jersey businesses to purchase discounted PPE through NJEDA identified and vetted “Designated Vendors.” Current Designated Vendors include Boxed, Office Depot, and Staples. These suppliers have created “microsites” where any New Jersey-based business or nonprofit can purchase PPE at a 10 percent discount. Links to these microsites are available at https://covid19.nj.gov/ppeaccess.

In addition to the 10 percent discounts available to all businesses, the NJEDA has also made $20.4 million available to provide additional discounts to businesses and nonprofits with 100 or fewer employees that make purchases from Staples or Office Depot. Initially set at an additional 25 percent, the NJEDA has now increased these additional discounts for small businesses and organizations to 65 percent. These discounts are available in addition to the 10 percent discounts available to all businesses; meaning businesses with 100 or fewer employees can receive nearly 70 percent off PPE purchases. The NJEDA is also doubling the cap on total discounts a business or organization can receive from $400 for any business and $500 for businesses operating in one of New Jersey’s 715 census tracts that were eligible to be designated as Opportunity Zones to $800 for all businesses and $1,000 for businesses in Opportunity Zone-eligible census tracts. Businesses that have already made purchases through the program will be able to receive vouchers for additional purchases up to the new program caps, but the 65 percent discount will only apply to purchases made on or after November 24, 2020.

Small businesses and organizations interested in receiving these additional discounts on PPE purchases must apply at https://covid19.nj.gov/ppeaccess. Once the NJEDA has confirmed their eligibility, they will receive vouchers for purchases from a Designated Vendor of their choice. Vouchers will expire on December 10, 2020. Businesses and nonprofits will still be able to receive 10 percent discounts on PPE purchases after this date. To date, 1,950 businesses and organizations have received almost $850,000 in vouchers through the program.

In addition to offering discounted PPE, the NJEDA also collaborated with the New Jersey Department of Health to create an online PPE Planning Tool that helps businesses understand PPE product requirements and estimate their organizational PPE needs. The PPE Planning Tool is available at https://covid19.nj.gov/ppeaccess

The NJEDA administers a variety of grant, low-cost financing, and technical assistance programs for small and mid-sized businesses impacted by COVID-19. Comprehensive information about these programs and other State support for businesses impacted by the pandemic is available at https://cv.business.nj.gov.

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, Instagram, and LinkedIn.

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Las empresas y organizaciones con 100 empleados o menos pueden presentar una solicitud para acceder a descuentos de aproximadamente el 70% en compras de PPE

TRENTON, N.J. (23 de noviembre de 2020) – La Autoridad para el desarrollo económico de New Jersey (NJEDA) anunció hoy que aumentará los descuentos disponibles para compras de equipos de protección personal realizadas a través del Programa de acceso a PPE para pequeñas empresas y microempresas de NJ a aproximadamente el 70% a partir del martes, 24 de noviembre de 2020. La autoridad también duplicará el máximo de cupones por empresa. Estos descuentos estarán disponibles para las empresas y organizaciones sin fines de lucro de New Jersey con 100 empleados o menos hasta el 10 de diciembre de 2020. Puede encontrar más información en https://covid19.nj.gov/ppeaccess.

"A medida que avanza el frío y se acerca la temporada de compras navideñas, el acceso a PPE asequible es más importante que nunca para las pequeñas empresas de New Jersey", expresó el Director ejecutivo de la NJEDA, Tim Sullivan. "El Programa de acceso a PPE para pequeñas empresas y microempresas de NJ es una colaboración única entre el gobierno y la industria, que ayuda a los propietarios a identificar sus necesidades específicas de PPE y adquirir los productos que necesitan para preservar la seguridad de sus empleados y clientes. En un momento en el que todas las empresas se están esforzando y las pequeñas empresas están enfrentando desafíos especialmente duros, los descuentos que ofrece este programa son fundamentales para garantizar una temporada navideña exitosa para la comunidad empresarial de New Jersey".

El Programa de acceso a PPE para pequeñas y microempresas de NJ permite a las empresas de New Jersey comprar PPE con descuento a través de "proveedores designados" identificados y seleccionados por la NJEDA. Los proveedores designados actuales incluyen Boxed, Office Depot y Staples. Estos proveedores crearon "micrositios" donde las empresas y organizaciones sin fines de lucro de New Jersey pueden comprar PPE con un descuento del 10%. Puede encontrar enlaces a esos micrositios en https://covid19.nj.gov/ppeaccess.

Además del descuento del 10% disponible para todas las empresas, la NJEDA también designó $20.4 millones para proporcionar descuentos adicionales para las empresas y organizaciones sin fines de lucro con 100 empleados o menos que realicen compras en Staples o en Office Depot. Fijado inicialmente en un 25% adicional, la NJEDA aumentó ese descuento adicional para pequeñas empresas y organizaciones a un 65%. Estos descuentos están disponibles además del 10% de descuento disponible para todas las empresas; lo que significa que las empresas con 100 empleados o menos pueden recibir aproximadamente un 70% de descuento en sus compras de PPE. La NJEDA también duplicará el límite de descuentos totales que una empresa u organización puede recibir, de $400 para cualquier empresa y $500 para empresas que operan en uno de las 715 áreas censales de New Jersey que fueron elegibles para la designación de Zonas de oportunidad, a $800 para todas las empresas y $1,000 para las empresas en áreas censales clasificadas como zonas de oportunidad. Las empresas que ya realizaron compras a través del programa podrán volver a recibir cupones para compras adicionales hasta los nuevos límites del programa, pero el 65% de descuento solo aplicará a compras que se realicen a partir del 24 de noviembre de 2020.

Las pequeñas empresas y organizaciones interesadas en recibir descuentos para compras de PPE deben presentar una solicitud en https://covid19.nj.gov/ppeaccess. Una vez que la NJEDA confirma su elegibilidad, recibirán cupones para realizar compras en un proveedor designado de su preferencia. Los cupones vencerán el 10 de diciembre de 2020. Las empresas y organizaciones sin fines de lucro todavía podrán recibir descuentos del 10% en compras de PPE después de esta fecha. Hasta el momento, 1,950 empresas y organizaciones recibieron alrededor de $850,000 en cupones a través del programa.

Además de ofrecer PPE con descuento, la NJEDA también colaboró con el Departamento de Salud de New Jersey para crear una herramienta de planificación de PPE en línea que ayuda a las empresas a comprender los requisitos de PPE y estimar las necesidades de PPE a nivel de la organización. La herramienta de planificación de PPE está disponible en https://covid19.nj.gov/ppeaccess

La NJEDA administra una variedad de programas de subsidio, financiamiento a bajo costo y asistencia técnica para pequeñas y medianas empresas afectadas por la COVID-19. Puede encontrar información completa sobre estos programas y otros apoyos estatales para las empresas afectadas por la pandemia en https://cv.business.nj.gov.

Acerca de la Autoridad para el desarrollo económico de New Jersey
La Autoridad para el desarrollo económico de New Jersey (NJEDA) es la agencia principal del Estado para impulsar el desarrollo económico. La NJEDA tiene el compromiso de hacer del Estado de New Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de New Jersey y ofrecer oportunidades para una economía más sólida y justa. Mediante asociaciones con diversas partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de New Jersey.

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

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TRENTON, N.J. (19 de noviembre de 2020) – La Junta directiva de la Autoridad para el desarrollo económico de New Jersey (NJEDA) aprobó este viernes pasado la creación del programa "Sustain and Serve NJ" (Apoya y sirve a NJ), un programa de subsidios por $2 millones que proporcionará fondos para que organizaciones compren comida a restaurantes que han sido afectados negativamente por la pandemia de COVID-19 y las distribuyan sin costo a los residentes de New Jersey. Este programa se basa en iniciativas previas de la NJEDA en apoyo a los restaurantes afectados por la COVID-19, que incluyen $35 millones en fondos de subsidio específicos para restaurantes que la Autoridad habilitó mediante la Fase 3 del Programa de subsidios de asistencia de emergencia para pequeñas empresas. Puede obtener más información sobre el programa "Sustain and Serve NJ" y los requisitos de elegibilidad completos para los posibles solicitantes en https://cv.business.nj.gov.

"La pandemia de COVID-19 ha tenido consecuencias devastadoras en la vida de todos, pero los propietarios de restaurantes y sus empleados han sido particularmente afectados", expresó el Director ejecutivo de la NJEDA, Tim Sullivan. "Sustain and Serve NJ es una solución innovadora que proporcionará la ayuda tan necesaria para nuestro sector de restaurantes a la vez que se proporcionarán comidas gratuitas a los residentes de New Jersey. Esto es fundamental para garantizar que las comunidades y la economía de New Jersey resistan la pandemia y estén en una buena posición para recuperarse".

La pandemia de COVID-19 ha impactado más a los restaurantes que a prácticamente cualquier otra industria. Según cálculos recientes de la Asociación de restaurantes y hospitalidad de New Jersey, un 30% de los restaurantes de New Jersey corren riesgo de cierre permanente, y el Departamento de Trabajo y Desarrollo Laboral de New Jersey (NJDOL) informa que más de 134,000 empleados de restaurantes han presentado solicitudes de seguro de desempleo.

El programa de subsidios "Sustain and Serve NJ" que se aprobó este viernes pasado aportará hasta $2 millones del Fondo para la recuperación económica de la NJEDA disponible para organizaciones que trabajan para fortalecer a los restaurantes de New Jersey. Las organizaciones elegibles pueden recibir subsidios de al menos $100,000 para realizar eventuales compras de comidas a granel a restaurantes de New jersey.

El programa estará disponible para entidades, incluidas organizaciones sin fines de lucro 501(c), que estén legalmente registradas para desempeñar actividades comerciales en New Jersey y estén debidamente registradas en el Departamento de Trabajo de New Jersey y en la División Fiscal de New Jersey. Los restaurantes no podrán presentar solicitudes directas para este subsidio. Los solicitantes de subsidios deberán demostrar compras a granel anteriores de 3,000 o más comidas valuadas en $50,000 o más a restaurantes de New Jersey entre el 9 de marzo de 2020 y la fecha de inicio de presentación de solicitudes. La NJEDA no proporcionará reembolsos de comidas compradas antes del lanzamiento del programa. Los beneficiarios del subsidio no pueden revender las comidas compradas con fondos del subsidio.

Los solicitantes también deben identificar al restaurante o restaurantes donde comprará las comidas. Para recibir fondos, los restaurantes asociados deben tener 50 empleados o menos, tener una ubicación comercial física en New Jersey, estar legalmente registrados para hacer negocios en New Jersey y estar debidamente acreditada con el Departamento de Trabajo de New Jersey, la División Fiscal de New Jersey y (cuando corresponda) con la División de control de bebidas alcohólicas de New Jersey, y deben contar con una certificación válida de una inspección del gobierno municipal o del condado que indique una calificación actual de Satisfactorio conforme al sistema de calificación de establecimientos alimentarios minoristas de New Jersey. Los restaurantes también deberán certificar que estaban operando el 15 de febrero de 2020 y detallar cómo se han visto afectadas sus actividades comerciales durante la pandemia de COVID-19.

Los fondos de subsidio otorgados a través del programa "Sustain and Serve NJ" se limitarán a gastos relacionados con el costo directo de compra de las comidas, según lo determine el o los socios del restaurante beneficiario. Ese costo puede incluir el costo de los alimentos e ingredientes, la mano de obra, el empaque, las instalaciones y el margen de ganancias del restaurante. Al usar fondos de subsidio no se pagan impuestos a las ventas ni propinas. Si bien el restaurante puede cobrar cualquier monto, el monto otorgado tendrá un límite de $10 por comida. No es elegible ningún otro gasto en el que incurra el beneficiario, ya sea en favor de la compra de comidas al restaurante ni de ninguna otra forma. Los fondos de subsidio solo se pueden usar para gastos incurridos hasta el 30 de abril de 2021.

Las solicitudes para el programa Sustain and Serve NJ estarán disponibles pronto. Puede encontrar más información sobre el programa en https://cv.business.nj.gov.

Además del programa Sustain and Serve NJ, la NJEDA administra una variedad de programas de subsidios, financiamiento a bajo costo y asistencia técnica para pequeñas y medianas empresas afectadas por la COVID-19, incluidos $35 millones de fondos de subsidio específicos para restaurantes mediante la Fase 3 del Programa de subsidios de asistencia de emergencia para pequeñas empresas. Puede encontrar información integral sobre estos programas y otros apoyos estatales para las empresas afectadas por la pandemia en https://cv.business.nj.gov.

Acerca de la Autoridad para el desarrollo económico de New Jersey
La Autoridad para el desarrollo económico de New Jersey (NJEDA) es la agencia principal del Estado para impulsar el desarrollo económico. La NJEDA tiene el compromiso de hacer del Estado de New Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de New Jersey y ofrecer oportunidades para una economía más sólida y justa. Mediante asociaciones con diversas partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de New Jersey.

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

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A meeting of the Commission of Science, Innovation and Technology (CSIT) Board has been scheduled for Friday, November 20, 2020 at 10:00 am

A copy of the proposed agenda can be found at www.njeda.gov/csit

+1 551-220-2262

Conference ID: 731 111 081#

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