The program has delivered more than 250 loans, supporting nearly 3,000 small businesses across New Jersey

TRENTON, N.J. (March 23, 2026) – The New Jersey Economic Development Authority (NJEDA) today announced that seven new micro business lenders have been awarded funding under the Main Street Lenders Grant program. To date, the program has facilitated more than 250 loans totaling more than $8.8 million, supporting nearly 3,000 small businesses across the state through technical assistance and access to capital. 

The Main Street Lenders Grant program offers eligible lenders grants of up to $1.5 million each, with up to $500,000 reserved for technical assistance needs. Entities approved for the grant provide flexible and low-cost financing through working capital term loans to qualified New Jersey micro businesses, as well as technical assistance to help micro businesses access capital. These lenders also offer one-on-one advisory services, educational programming, and tailored support based on each business’s specific needs. 

“The Main Street Lenders Grant program reflects New Jersey’s ongoing commitment to small businesses and inclusive economic growth,” said NJEDA Chief Executive Officer Evan Weiss. “Access to capital continues to be a barrier for many micro businesses but this program is helping ensure entrepreneurs have the resources needed to succeed, leading to greater job growth and economic activity, particularly in disadvantaged communities.”  

The following lenders received $1.5 million in funding and are accepting microbusiness loan applications: 

• Ascendus, Inc.: offers loans between $10,000 and $100,000 with loan terms up to six years and interest rates of 5%.  
• Carver Federal Savings Bank: offers loans between $10,000 and $50,000 to businesses that have a commercial or home-based location in New Jersey.  
• Cumberland Empowerment Zone Corporation (CEZC): offers for-profit and nonprofit businesses in Cumberland County loans between $10,000 and $25,000 with no collateral required, and from $25,001 and $100,000 with collateral required.  
• Grow America: offers loans between $10,000 and $100,000, with interest rates not to exceed 5%. 
• Invest Newark: provides loan amounts between $10,000 and $100,000 to home-based, non-profit, sole proprietors, and start-ups with a commercial location in Newark. 
• Renaissance Economic Development Corporation: offers loans between $10,000 and $50,000 with 60-month terms and 5% fixed rates to businesses in Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Passaic, Somerset, Sussex, Union, and Warren Counties. 
• TruFund Financial Services, Inc.: offers loans between $10,000 and $100,00 to for-profit and nonprofit organizations located in low- to moderate-income (LMI) areas and that employ LMI workers.  

Loans provided by approved and participating lenders are available for eligible micro businesses with less than 10 full-time employees and less than $1.5 million in annual revenue. The loans carry no prepayment penalties, with interest rates capped at 5% and no payments for at least 12 months after closing. Micro businesses may use the loan funding for a wide range of business working capital expenses, including equipment purchases, rolling stock, payroll, marketing, inventory, rent or mortgage payments, property taxes, utilities, and other day-to-day operational costs. 

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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$5M allocation will support community-centered events across NJ

TRENTON, N.J. (March 16, 2026) – The New Jersey Economic Development Authority (NJEDA) Board recently approved a $20 million allocation to the FIFA World Cup 2026™ New York New Jersey Host Committee (“NYNJ Host Committee”) for its planning and implementation of the upcoming tournament. From that amount, $5 million will be dedicated to fund Governor Mikie Sherrill’s initiative to bring fan zones, watch parties, festivals, and street fairs throughout New Jersey.

“As we prepare to host visitors from around the world this summer, we are committed to ensuring New Jersey residents and small businesses from across the state can join in on the festivities and benefit from the economic impacts of the tournament,” said Governor Sherrill. “Whether you are in North, Central, or South Jersey, we are bringing the 2026 FIFA World Cup to you.”

In January, a supplemental appropriation was signed into law, allocating $20 million to the NJEDA, reserved for the NYNJ Host Committee to promote statewide tourism and drive economic development. Last month, Governor Sherrill announced a new initiative aimed at bringing fan experiences to communities across the state during the entirety of the World Cup tournament, including the historic final match.

“All eyes will be on New Jersey during the 2026 World Cup, giving us an opportunity to showcase all that makes our state great,” said NJEDA Chief Executive Officer Evan Weiss. “I appreciate Governor Sherrill’s visionary leadership to help ensure we do this right and that our communities and small businesses can benefit directly from the economic impacts of the World Cup. The NJEDA will work alongside the Host Committee and our partners across New Jersey to make sure the World Cup has a lasting transformation on the entire state.”

Following disbursement of the $5 million, the Host Committee will enter into a contract with a qualified New Jersey-based 501(c)(3) nonprofit organization with experience, creative capabilities, and a strong track record of developing and implementing extensive marketing programs and events that highlight the benefit of New Jersey. This is the same requirement used in past NJEDA requests for proposals and is based on the Legislature’s requirement for the use of a similar appropriation in 2023.

This contracted organization will partner with New Jersey-based event producers to add World Cup viewing areas, promotional marketing, and engagement via sub-granting with local community organizations and small businesses. The organization will also partner with chambers of commerce, marketing organizations, special improvement districts, local governments, and convention and visitor bureaus to help support small to mid-sized events, including watch parties, festivals, street fairs, and statewide promotional marketing.

“Fan experience sits at the heart of the Host Committee’s mission, and this initiative will help drive economic impact while showcasing an authentic New Jersey experience to visitors from around the world,” said Alex Lasry, CEO of the New York New Jersey Host Committee. “As we prepare to welcome millions of people to New Jersey, this initiative will help support and expand local events and celebrations, providing even more affordable and accessible ways for fans and communities to participate in the World Cup experience. We thank Governor Sherrill for her leadership as well as the EDA for their partnership in helping deliver a once-in-a-generation World Cup that only New Jersey can offer.”

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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50+ communities have been designated through the Film Ready New Jersey Program

TRENTON, N.J. (March 11, 2026) – Today, the New Jersey Motion Picture and Television Commission (NJMPTVC), part of the New Jersey Economic Development Authority (NJEDA), announced that 15 municipalities have been added to the state’s growing list of Film Ready Communities after completing the Film Ready New Jersey Program. The Program educates municipalities on the basics of motion picture and television production and sets basic standards for attracting filmmaking, expanding economic opportunities for communities across the state in New Jersey’s record-breaking film and television sector. 

“New Jersey’s variety of landscapes and locations, from charming main streets and bustling city blocks to rugged mountains and vast farmland, are a major asset for the state’s film and television industry, ensuring producers can find the perfect locale for their next feature film,” said NJEDA Chief Executive Officer Evan Weiss. “The newest cohort of Film Ready Communities will be prepared for the industry’s continued growth, which will support Governor Sherril’s vision to create jobs for residents, support small businesses, and drive meaningful economic growth in municipalities across the Garden State.” 

The 15 new Film Ready Communities announced today are Edison, Fanwood, Garwood, Hamilton, Hanover, Highland Park, Hightstown, Lambertville, New Brunswick, Newton, Oceanport, Phillipsburg, Randolph, Robbinsville, and Shrewsbury. Along with the previous Film Ready cohorts announced in March 2024 and August 2025, New Jersey now has 58 Film Ready Communities.

“As film and television production continues to break records in New Jersey, local communities need to be prepared to handle the unique needs of the industry,” said NJMPTVC Executive Director Jon Crowley. “The Film Ready Program establishes statewide consistency and provides expert guidance on everything from permitting to public safety management, strengthening the state’s industry leadership as more producers choose the Garden State for their next big production.”

Film Ready New Jersey is a 5-step certification and marketing program that prepares communities to accommodate movie and television producers and effectively market themselves as film destinations. The NJMPTVC’s Film Ready Workshops provide training and guidance from industry professionals, local mayors, and NJMPTVC Commissioners and staff, covering topics such as the economic impact of hosting on-location filming, ordinances and permitting, opportunities for small businesses, and expanding film infrastructure.

About the New Jersey Motion Picture & Television Commission

The NJMPTVC, part of the NJEDA, is staffed by industry professionals and serves as a resource for production companies. The Commission promotes film and television production in New Jersey.

www.film.nj.gov

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (March 11, 2026) – The New Jersey Economic Development Authority (NJEDA) recently closed on investments for five cutting-edge businesses through the New Jersey Innovation Evergreen Fund (NJIEF). The companies, located in Mercer, Camden, and Hudson Counties, received investments through the approvals of applications submitted by Qualified Venture Funds for a combined $4.65 million.

“The New Jersey Innovation Evergreen Fund is a cutting-edge initiative designed to strengthen the state’s economy by leveraging both public and private capital to support high-growth startups and entrepreneurs,” said NJEDA CEO Evan S. Weiss. “Governor Sherrill and the NJEDA have been laser-focused on bolstering the innovation economy, creating jobs, and supporting the next generation of transformative companies, helping reinforce New Jersey’s standing as a global center for technological discovery and innovation.”

The NJIEF, is a unique tool to increase access to strategic resources and venture capital in New Jersey. Under the NJIEF, the State is an equity investor in early-stage companies, deploying up to $600 million into companies alongside professional venture capital firms. The Evergreen Fund currently has approximately $78 million of unallocated capital available and is expected to use this to fund initial investments into additional high-growth businesses in New Jersey. The NJEDA recently auctioned $85 million in tax credits to raise additional capital, which will be available for investment in early 2026.

“Investments through the NJIEF underscore New Jersey’s commitment to supporting innovation businesses and entrepreneurs,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “By delivering a robust roster of venture capital firms to cutting-edge startups, the NJIEF will continue to drive job creation and economic development across the state.” 

The New Jersey Innovation Evergreen Fund (NJIEF) platform currently includes 29 approved venture capital firms actively seeking investment opportunities in New Jersey-based companies.

All companies approved for investment under the NJIEF will benefit from the strategic commitments made by NJIEF tax credit purchasers. These purchases, which fund investments made by the Qualified Venture Firms (QVFs), are made in tandem with commitments to provide strategic support to strengthen the State’s innovation ecosystem. Commitments include financial support for university partners, nonprofits, and Strategic Innovation Centers for innovation-related programming in New Jersey, mentoring, educational opportunities, and more, and are a scored component of the tax credit purchasers’ bids.

The following companies received investment funding through the NJIEF:

Antigenix Therapeutics, Inc. – Princeton

Antigenix Therapeutics is a platform-based biopharmaceutical company focused on developing monoclonal antibody-based products for the precision treatment of cancer, autoimmune disorders, and other serious diseases. The company’s primary current asset, AGX-010, focuses on selectively activating on the surface of malignant epithelial cells, including those in triple-negative breast cancer, ovarian, prostate, and colon cancers. The company, which is based out of the Princton Innovation Center BioLabs, will receive an NJIEF investment of $1 million through an application submitted by Pier 70 Ventures.

“NJEDA’s strategic investment validates both our science and our vision to transform outcomes for patients with aggressive cancers,” said Christopher Whitfield, CEO of Antigenix Therapeutics. “Their partnership provides more than capital—it connects us to New Jersey’s world-class life sciences ecosystem and positions Antigenix to rapidly advance our ADC platform from preclinical promise to clinical impact.”

A diverse and women-led venture capital firm, Pier 70 Ventures targets early-stage investments in businesses led by founders from historically underserved backgrounds, with a focus on diagnostics, devices, health services, health tech, logistics, precision medicine, and smart health. Based in Seattle, Pier 70 Ventures aims to generate a social impact while delivering economic benefits to stakeholders. This investment in Antigenix will be Pier 70’s first investment in a New Jersey-based business.

“As an NJEDA-approved Qualified Venture Fund, Pier 70 Ventures views NJEDA as an essential partner in accelerating early-stage innovation in New Jersey,” said Shaun Hawkins, Managing Partner at Pier 70 Ventures. “Their investment strengthens Antigenix’s ability to efficiently advance its ADC platform from preclinical development toward meaningful clinical outcomes for patients.”

PolyGone Systems – Kearny

PolyGone is revolutionizing the $200 billion water treatment industry with its innovative solution for microplastic pollution. Founded in 2021 as a spinout from Princeton University, PolyGone has developed a patented filtration media that passively captures microplastics smaller than 1 mm from treatment effluents, reservoirs, and rivers. This technology, known as the Artificial Root Filter, mimics aquatic plant roots and achieves a 98% removal efficiency in lab tests. The company’s headquarters is located in Kearny, New Jersey with additional lab space at the NJ BioScience Center in North Brunswick. PolyGone will receive an NJIEF investment of $400,000 through an application submitted by Tech Council Ventures.

“The New Jersey Evergreen Fund has been transformational for our company, PolyGone Systems. As a cleantech startup developing hardware, raising early-stage capital is uniquely difficult. The Evergreen Fund served as a powerful catalyst, motivating investor commitments and enabling us to close our full seed round within just six months,” said Yidian Liu, Co-Founder of PolyGone Systems.

Tech Council Ventures is a New Jersey-based early-stage venture capital firm, with an investment focus in healthcare, enterprise technology, and CleanTech. The firm serves on the NJEDA’s Innovation Advisory Committee and on the NJ Bioscience Incubator Advisory Board, and has participated in New Jersey Founders and Funders events and has utilized the Angel Investor Tax Credit Program.

“As a New Jersey-based venture capital firm, we have been fortunate to be able to partner closely with the New Jersey Economic Development Authority to support local entrepreneurs. We have just completed two investments leveraging the NJEDA’s Innovation Evergreen Fund for $500,000 of matching investment for TranscendAP and $400,000 for PolyGone Systems. We have known Jeff Weinstein for many years through his leadership of one of our portfolio companies in Fund I, and we are excited to invest in his latest company,” said Stephen Socolof, Managing Partner at Tech Council Ventures. “PolyGone Systems is led by innovators Nathaniel Banks and Yidian Liu, who developed an effective way to address a growing health concern by removing microplastics in industrial and utility water treatment systems.”

TranscendAP – Hamilton

TranscendAP was founded in 2017 and specializes in Accounts Payable (AP) automation. In 2022, TranscendAP made its solution available on a cloud multitenant offering, and expanded its market opportunity with integrations to Oracle, Microsoft, and Ellucian. TranscendAP’s platform incorporates proven Artificial Intelligence (AI) technology and has a strong roadmap for AI purpose-built functionality.

“As a New Jersey based software company, we highly value the programs that the NJEDA has implemented that support our continued growth. The New Jersey Innovation Evergreen Fund, which matches the recent round of venture funding by Rittenhouse Ventures and Tech Council Ventures, will fuel the expansion of our AI-driven Accounts Payable automation platform,” said Jeffrey Weinstein, President and CEO of TranscendAP. “This investment allows us to accelerate our growth and expand our New Jersey presence with great career opportunities in technology, sales, marketing, and professional services. As I have experienced when leading other New Jersey-based firms, NJEDA’s partnership is outstanding at all levels. The NJEDA team is incredibly focused on growing the economic opportunities within New Jersey and we are fully aligned with them in that mission.”

TranscendAP received two investments through the NJIEF, one for $750,000 for an application submitted by Rittenhouse Ventures, and one for $500,000 for an application submitted by Tech Council Ventures.

Rittenhouse Ventures focuses on early-growth B2B software investments primarily across the Mid-Atlantic region. Through its third fund, Rittenhouse Ventures III, the company previously made two investments into New Jersey-based companies.

“The accounts payable automation market is undergoing a crucial transformation, shifting rapidly from outdated, first-generation systems, with over 90% of the market still lacking effective AP automation,” said David Nevas, General Partner at Rittenhouse Ventures. “Their cloud-based, AI-first platform leverages best-in-class technology, providing critical value propositions like a 70% reduction in per-invoice costs and robust fraud detection capabilities. We are thrilled to partner with the NJEDA’s Innovation Evergreen Fund to accelerate their remarkable growth. NJEDA’s support underscores New Jersey as a critical hub for enterprise technology, providing the ideal ecosystem for TranscendAP to scale and aggressively capture market share.”

Lula, Inc. – Voorhees

Lula, Inc. (Lula Commerce) is a digital platform company based in Voorhees focused on meeting the delivery needs of convenience stores by integrating third-party delivery services and inventory management. Founded in 2020 in the wake of the COVID-19 pandemic, Lula sought to address the challenge of reduced foot traffic in local convenience stores. Lula’s solution enables stores to efficiently manage and integrate their operations into the digital marketplace. Lula will receive a NJIEF investment of $1 million through an application submitted by UP.Partners.

“I’m incredibly thankful for UP.Partners’ continued support of Lula over the past three years and excited to welcome NJEDA as a new partner,” said Adit Gupta, Co-Founder and CEO of Lula Commerce. “I wouldn’t be here without the life experiences that shaped me in New Jersey. From my family opening and operating a retail store in South Jersey to Lula now supporting several thousand retail locations across 44 states, this truly feels like a full-circle moment. We’re proud to call New Jersey our home and are excited to continue building and scaling Lula here for many years to come.”

UP.Partners is a California-based venture firm investing in transportation-related companies that make global transportation cleaner, safer, faster, and more accessible. The firm focuses on identifying highly specialized companies that possess strong conviction and a unique competitive advantage. UP.Partners has invested a total of $2.6 million in Lula Commerce across multiple financing rounds.

Synchrony Medical – Jersey City

Synchrony Medical is a pioneering company in the field of respiratory therapy, dedicated to enhancing the quality of life for patients with chronic lung disease. Through its research, Synchrony Medical has developed a highly differentiated, Food & Drug Administration (FDA)-cleared, home-use device known as LibAirty, which provides effective airway clearance therapy. Synchrony Medical was founded in 2020 and is based in Israel, with offices located in Jersey City. Synchrony Medical received an NJIEF investment of $1 million through an application submitted by Edge Medical Ventures (EdgeMed).

“The New Jersey Innovation Evergreen Fund is an excellent model for fostering innovation, playing a key role in establishing our headquarters in New Jersey,” said Anat Shai, Chief Executive Officer of Synchrony Medical. “Synchrony has been supported by the Israel Innovation Authority since its inception, a relationship that now extends to the NJEDA, co-investing alongside Edge Medical Ventures in a shared, global commitment to advancing life-changing medical technologies. We are thankful for the support from all of our partners to help expand reach of the LibAirty Airway Clearance System to patients across the U.S.”

Founded in 2024, EdgeMed is an early-stage investment fund with offices in Jersey City and Yehuda, Israel. The firm is committed to advancing healthcare by identifying and nurturing innovative companies that address significant unmet clinical needs with substantial market potential, and is specifically dedicated to supporting Israeli MedTech companies looking to enter the U.S. market. The investment in Synchrony Medical will be EdgeMed’s second investment in a New Jersey-based business.

“Edge Medical Ventures is focused on building and scaling breakthrough medical technologies that address critical unmet needs, and our partnership with NJEDA is instrumental in enabling our portfolio companies to establish and accelerate their US operations,” said Shai Policker, Managing Partner at Edge Medical Ventures. “New Jersey’s robust healthcare ecosystem provides an ideal foundation for market growth, and we’ll continue providing our companies with the operational expertise and capital they need to succeed in the US market.”

Synchrony Medical is a recipient of funding from the Israel Innovation Authority, which signed a memorandum of understanding with the NJEDA in 2018 to deepen technological cooperation. This investment highlights New Jersey’s ongoing partnership with the Israel Innovation Authority and Israel’s significant contributions on the state’s economy, while marking the first investment into an Israeli-American company by the NJIEF.

Applications for venture firms seeking to qualify as a QVF can be found here and are being accepted on a rolling basis. The firms approved to date represent diversity in terms of investment strategy, industry, and stage. Additionally, there continues to be strong momentum from interested managers. The roster of the current approved managers can be found here.

Applications for approved QVFs to apply for Qualified Investments into high-growth, innovative businesses based in New Jersey are also open. The total capital available for new investments stands at approximately $60 million and the NJEDA recently auctioned $85 million in tax credits to raise additional capital for further investment.

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (February 19, 2026) – The New Jersey Economic Development Authority (NJEDA) is now accepting applications for the Green Workforce Training Grant Challenge. The $4 million grant program will prepare New Jersey residents for green economy careers, with a particular focus on serving overburdened communities. 

WHAT:          The Grant Challenge is a competitive funding opportunity, for which applicants will be asked to submit proposals that outline their plans to develop and implement workforce training and skills programs focused on strengthening and diversifying the state’s green economy. Grants from $500,000 up to $800,000 are available. Awardees may use funds to cover design, planning, capital, and implementation costs to offer training programs in green economy industries.

WHO:            Entities that can provide skill development, workforce training, job placement, and other related services are eligible to apply.

WHEN:          Applications for the program are now open and will close on Monday, April 20, at 5:00 p.m.

An informational webinar will be held on Wednesday, February 25, at10:30 a.m. To register, click here.

For more information on Phase 2 of the New Jersey Green Workforce Training Grant Challenge, click here.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (February 11, 2026) – The New Jersey Economic Development Authority (NJEDA) announced today that Sean Kennedy has been hired as the Authority’s new Chief of Staff and Chief External Affairs Officer. Kennedy’s first day at the NJEDA was Monday.

“Sean brings deep experience in public-sector leadership, stakeholder engagement, and organizational strategy, and I’m excited for the perspective he will bring to the NJEDA,” said NJEDA Chief Executive Officer Evan Weiss. “Sean will play a critical role at the Authority as we work to support Governor Sherrill’s mission to grow our economy, bolster innovation, cut red tape, and bring down costs for families across the state.”

Kennedy will oversee the Communications, Events & Marketing, Government Affairs & Policy, and International Innovation teams, helping ensure the NJEDA’s brand, messaging, and external presence are aligned with the Authority’s strategic priorities. In his role, Kennedy will serve as the NJEDA’s primary point of contact with the Governor’s Office, the Legislature, local governments, and other key stakeholders.

“I’m thrilled to join the NJEDA, which has been at the forefront of driving meaningful economic growth by investing in residents, businesses, and key strategic sectors throughout New Jersey,” said Kennedy. “I look forward to working with the entire NJEDA team, as well as our partners across the public and private sectors, to advance the Authority’s mission and expand its impact across the state.”

Most recently, Kennedy served as a Government Affairs Advisor at Connell Foley. Prior to that, he was Director of CGI’s New Jersey State and Local business. Sean has also held leadership roles in higher education, including Vice President of Government Affairs and External Partnerships at Rowan University and Director of Government and External Relations at Rowan School of Osteopathic Medicine, as well as several positions in state government, ranging from campaign leadership to Associate Executive Director overseeing communications for the New Jersey Senate Majority Office.

Kennedy succeeds Emma Corrado, who recently left the NJEDA to join the Governor’s Office as Deputy Chief Operating Officer.

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (January 28, 2026) – Earlier this month, Governor Mikie Sherrill recommended Evan Weiss to lead the New Jersey Economic Development Authority (NJEDA), and today its Board voted to approve him as the Authority’s next Chief Executive Officer. Weiss will assume the role on January 29^th.

“New Jersey has everything it takes to lead. We have a talented workforce, world-class innovation, and vibrant communities; but we must confront the rising costs that are making it harder for families and businesses to get and stay ahead. Evan Weiss understands how to bring government, industry, and local communities together to expand opportunity and deliver real solutions that lower costs and drive economic development,” said Governor Mikie Sherrill. “I am confident that Evan’s leadership will strengthen the NJEDA’s role as a catalyst for growth, so that we can build a more affordable, competitive economy that creates opportunity across every corner of our state.” 

Weiss previously served as President and CEO of the Newark Alliance, a private sector–led, inclusive economic development organization that drives transformational growth and collaboration among business, community, and civic partners to strengthen Newark’s economy and position it as a national model for inclusive economic growth. Prior to that, Weiss served as a Senior Advisor for Finance and Major Projects to Governor Phil Murphy. In that role, he managed more than $10 billion in federal stimulus and helped deploy capital to advance key statewide priorities, including renewable energy, transit, affordable housing, and major infrastructure initiatives such as the Gateway Project.

“On behalf of the Board and our staff, we are thrilled to welcome Evan Weiss to the NJEDA and work with him to support Governor Sherrill’s mission to grow our economy,” said NJEDA Chairman Terry O’Toole. “Evan brings with him an extraordinary amount of experience and insight and he will help bring the Authority to new heights.”

“I’m excited to hit the ground running and work to create new jobs by expanding opportunity, supporting businesses of all sizes, building up strategic innovation industries, and strengthening communities across the state,” said incoming NJEDA Chief Executive Officer Evan Weiss. “It’s an honor to return to public service and lead the NJEDA in its next chapter. I’m grateful to Governor Sherrill, Chairman O’Toole, and the NJEDA Board for entrusting me with this great responsibility, and I look forward to working with our staff and partners in the public and private sectors to build an economy that works for everyone.”

Weiss previously served as Director at the Pennsylvania Economy League and was a Senior Analyst at HJA Strategies. Weiss has also served as a member of the Board of New Jersey Transit, New Jersey City University, and New Jersey Community Capital. He is a graduate of the University of Chicago.

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Center will offer key services to small business owners to help grow their business and close wealth disparity gap

TRENTON, N.J. (January 14, 2026) – The New Jersey Economic Development Authority (NJEDA) and Rowan University have partnered together to support the African American Chamber of Commerce of New Jersey’s (AACCNJ) Transformation Center. The Center, which has been designated by the NJEDA as a statewide Economic Empowerment Center, is a first-of-its kind, main street-focused business incubator designed to strengthen small businesses and expand access to resources for entrepreneurs across New Jersey.

At its December board meeting, the NJEDA Board approved a Memorandum of Understanding (MOU) with Rowan University, which will serve as the academic and research partner of the Center. The NJEDA will allocate $1.5 million to Rowan University to support the planning, coordination, and implementation of the Center, including technical assistance, training, mentorship, workforce development programming, and outreach to small business owners.

“Since taking office, Governor Murphy has prioritized expanding opportunity and advancing equitable economic growth across New Jersey,” said NJEDA Acting Chief Executive Officer Mary Maples. “The NJEDA looks forward to working with the African American Chamber of Commerce of New Jersey and Rowan University to ensure small business owners have access to the tools and resources they need to grow and thrive.”

Rowan University was selected as a partner based on its expertise in applied research, innovation, regional collaboration, and workforce development, including its long-standing work through the Rowan Center for Innovation and Entrepreneurship. Rowan will work to ensure Center programming is responsive to local business needs and aligned with the State’s wealth disparity reduction goals.

“This partnership with AACCNJ’s Transformation Center will amplify the power of individuals and organizations to build and sustain businesses and communities together,” said Ali A. Houshmand, president, Rowan University. “Our strengths in education, research and economic development will empower more of our New Jersey neighbors in ways we can only imagine.” 

The Center will leverage AACCNJ’s direct ties to local businesses and industry networks to deliver practical, community-based support in the areas most affected by wealth disparities.

“We are extremely proud of our relationship with the Murphy Administration and our collaboration with the New Jersey Economic Development Authority (NJEDA) and Rowan University. These collective efforts are essential in bringing the vision of our Transformation Center to reality,” said Dr. John E. Harmon, Sr., President & CEO, African American Chamber of Commerce of New Jersey (AACCNJ). “This partnership serves as an excellent example of the public sector engaging strategically with the AACCNJ to mitigate socioeconomic disparities in New Jersey, resulting in a definitive win for everyone – including community stakeholders and small business owners.”

In 2021, Governor Phil Murphy issued Executive Order No. 262, establishing the Wealth Disparity Task Force to examine the causes of longstanding wealth disparities affecting Black and Hispanic New Jerseyans. Building on the Task Force’s findings, NJEDA has advanced targeted strategies to strengthen local capacity, expand access to resources, and foster collaboration to ensure minority- and women-owned businesses can fully participate in the state’s economy.

“The mission of the Wealth Disparity Task Force to close opportunity gaps and support wealth building will be advanced through the AACCNJ’s Transformation Center,” said Jayné Johnson, Director of the Governor’s Office of Equity, and Convenor of the Wealth Disparity Task Force.“The Center, like the employee stock ownership pilot, pipeline initiatives, and numerous other NJEDA programs, brings to fruition the recommendations of the Wealth Disparity Task Force and increases the bottom line for minority- and women-owned businesses. Thank you to the NJEDA, the African American Chamber of Commerce of New Jersey, and Rowan University for ensuring that the task force’s work is more than words on a page but instead meaningful action that improves the lives of people.”

“The Transformation Center represents a long-term investment in the people and places that power New Jersey’s local economies,” said NJEDA Chief Equity and Inclusive Culture Officer Michelle Bodden. “By expanding access to opportunity and investing in community-based entrepreneurship, we are building a more inclusive economy for all New Jerseyans.”

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Investment in Strategic Innovation Centers will bolster entrepreneurship and catalyze economic growth

TRENTON, N.J. (January 7, 2026) – The New Jersey Economic Development Authority (NJEDA) Board recently approved a $12.55 million commitment into two Strategic Innovation Centers (SICs) focused on medical technology and maternal health, facilitating startup creation and bolstering New Jersey’s innovation ecosystem. The New Jersey Accelerator for Innovation in Medtech (NJ AIM), a multi-location SIC in Camden and Mullica Hill, will support the research, development, and commercialization of novel medical technologies and devices. The New Baby New Jersey SIC, which will be located in Trenton’s Maternal and Infant Health Innovation Center (MIHIC), will assist early-stage companies advance groundbreaking maternal and infant health solutions. 

“Throughout the Murphy administration, New Jersey has invested heavily in creating environments where entrepreneurs can thrive, opening pathways to capital, encouraging collaboration, and leveraging the strength of the state’s academic institutions and private sector partners,” said NJEDA Acting Chief Executive Officer Mary Maples. “The NJEDA’s latest investments into NJ AIM and the New Baby New Jersey SIC further establish the state’s leadership in the medtech and maternal health sectors, advancing scientific breakthroughs, creating jobs, and bolstering the regional economy.”

The NJ AIM and New Baby New Jersey SIC programs, managed by Plug and Play, will include a combination of services, including workshops, mentorship sessions, business development services, education opportunities, access to unique equipment and industry partners, and investment opportunities. The programs will accelerate two cohorts of startups per year comprised of no less than 20 independent companies per cohort in both Camden and Trenton. 20 percent of participating companies must be from New Jersey, and the remaining participants will include companies from out of state that may relocate to New Jersey with support from resources that support early-stage startups, such as NJ Accelerate.  

The NJEDA will commit up to $5.5 million to invest in NJ AIM and New Baby New Jersey SIC companies and $2.25 million, matched by SIC partner Rowan University, to support the accelerator programs. Additionally, the NJEDA will invest $1.5 million in a new venture studio operated by NLC Ventures, a leading global venture builder in health technology, which will support the development of new medtech and maternal health companies in the state. The NJEDA will reserve $3 million for an early-phase maternal and infant health pre-venture development and early-stage initiative located in Trenton to include programmatic and technical support administered by a third-party. 

“New Jersey is making a clear statement about its commitment to building the next generation of medical technology companies,” said NLC Ventures USA Director Jaap Haemers. “Through this venture studio, we will work hands-on with founders to translate breakthrough science into scalable companies, while embedding them in a world-class ecosystem of clinical partners, universities, and investors. We’re proud to partner with NJEDA to help position New Jersey as a global launchpad for health innovation.”

The NJ AIM SIC will encompass 8,500 square feet of space within two locations in Camden: the Joint Health Sciences Center and the Cooper Medical School of Rowan University. It will also have space on Rowan University’s West Campus in Mullica Hill, alongside the Shreiber School of Veterinary Medicine when open. The SIC will include comprehensive laboratory, diagnostic, and testing spaces for research and development of new technologies in a collaborative environment. Cooper University Health Care will serve as the anchor commercial affiliate and the Rowan Foundation will invest in select participating accelerator companies. 

“Innovation begins with bold investment,” said Rowan University President Ali A. Houshmand. “The future of New Jersey is built on collaboration and partnerships that make a difference. Backed by the New Jersey Economic Development Authority and strengthened by private industry, early-stage investors, and public entities like ours, together we will shape a stronger, more vibrant New Jersey.”

The New Baby New Jersey SIC will include 5,000 square feet of space within the MIHIC. In collaboration with public and private stakeholders, the location will provide first-in-class research and development focused on maternal health care, driving breakthrough solutions in maternal care equity, digital health, doula support, perinatal mental health, and public benefits access. The SIC will further the state’s national leadership in maternal and infant health innovation, leveraging startups, academic institutions, public agencies, and community voices to advance maternal health equity and inventive medical technologies.

“We’re incredibly proud to be part of this pivotal moment in New Jersey’s innovation journey. The accelerator is more than a program — it’s a launchpad for bold ideas that have the power to reshape maternal health across our state,” said Lisa Asare, CEO of the New Jersey Maternal and Infant Health Innovation Authority (NJMIHIA). “Our vision is a world where every mother and baby flourish. NJEDA’s investments to scale maternal health companies and support entrepreneurs is critical — not only to uplift NJ’s mothers and babies, but also strengthening the infrastructures that deliver on the highest level of care.” 

With over 60 offices globally and partnerships with more than 550 corporations, Plug and Play runs more than 100 accelerator programs annually across sectors like AI, fintech, health, and energy. The NJEDA previously partnered with Plug and Play on the Fintech Accelerator at Stevens Institute of Technology (NJ FAST), a financial technology and insurance technology SIC.

“New Jersey is doubling down on startup innovation where it matters most: helping breakthrough medical technologies reach patients and accelerating solutions that improve health outcomes,” said Plug and Play Partner and Chief Revenue Officer Michael Olmstead. “Plug and Play is proud to partner with NJEDA, Rowan University, and Cooper University Health Care to give founders what they need to scale: deep clinical and academic collaboration, hands-on commercialization support, and direct pathways to customers and capital.”

SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and education opportunities. SICs can be accelerators, incubators, or research centers. Having a physical location where entrepreneurs can collaborate will help support new, diverse innovators and help drive long-term economic growth.

The NJEDA has announced investments into 12 SICs in New Jersey, focused on industries such as artificial intelligence, fintech, aerospace, life sciences, and biotech. To learn more about the NJEDA’s SIC initiative, visit https://www.njeda.gov/strategic-innovation-centers/. 

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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