The New Jersey Economic Development Authority's next public Board Meeting will be held on Tuesday, January 9, 2018 at 10 a.m. at the EDA offices at 36 West State Street, Trenton. A copy of the proposed agenda can be found prior to the meeting at www.njeda.gov/Board. Following the Board Meeting, minutes and the full agenda will also be available at www.njeda.gov/Board.

A meeting of the Capital City Redevelopment Corporation (CCRC) Board has been scheduled for Wednesday, December 20, 2017 at 10:00 am in the EDA Board Room, 36 West State Street, Trenton, NJ.

 

A copy of the proposed agenda can be found at http://web.njeda.com/ccrc/page.aspx?id=2461

CRANFORD, NJ – UCEDC, a nonprofit economic development corporation, has announced the availability of a special discounted interest rate loan program for women-owned businesses (WOB).  WOBs in business for at least two years can get financing up to $50,000 at fixed interest rates that have been reduced by two percentage points.
 
The program is made possible through the support of a grant from renowned fashion designer Tory Burch and the Tory Burch Foundation Capital Program, powered by Bank of America.

“UCEDC is proud to be a part of the success and sustainability of women-owned small businesses in New Jersey,” says Maureen Tinen, UCEDC president. “Now, with the support of Tory Burch’s Foundation, women entrepreneurs will have even more affordable access to much-needed working capital.”
 
Under this program, UCEDC’s conventional interest rates (5.0% – 9.0%) for loans up to $50,000 will be reduced by two percentage points to 3.0% – 7.0% for the six-year life of the loan.  Funds can be used for almost any business purpose, including paying down more expensive debt.  There are no fees or prepayment penalties.
 
“We encourage all women entrepreneurs to explore this opportunity for affordable financing.  So many small businesses fail because they don’t have enough working capital to cover slow periods or gear up for growth. This program could make a real difference,” notes Tinen.
 
UCEDC offers loans from $5,000 to $5 million to meet the needs of small businesses at every stage of their growth, including start-ups.  Information on the Loan Sale for Women Business Owners and UCEDC’s other financing options can be found at www.ucedc.com or by calling 908-527-1166.

The New Jersey Economic Development Authority's next public Board Meeting will be held on Tuesday, December 12, 2017 at 10 a.m. at the EDA offices at 36 West State Street, Trenton. A copy of the proposed agenda can be found prior to the meeting at www.njeda.gov/Board. Following the Board Meeting, minutes and the full agenda will also be available at www.njeda.gov/Board.

A meeting of the Economic Recovery Board for Camden has been scheduled for Tuesday, December 5, 2017 at 1:00 pm at Delaware River Port Authority Offices, 2 Riverside Drive, Camden, NJ. 

The agenda can be found at our website: www.njeda.gov/camdenerb

A Special Meeting of the New Jersey Economic Development Authority has been scheduled for Tuesday, November 28, 2017 at 10am in our offices at 36 West State Street, Trenton NJ. The Members will meet to discuss and act upon a request to approve a final bond resolution for the Port Newark Container Terminal. The agenda can be found 48 hours prior to the meeting at our website: www.njeda.gov. 

 

TRENTON, N.J. (November 20, 2017) – Buon’Italia’s 3,000-square-foot shop in New York City’s Chelsea Market has been providing its imported Italian staples to downtown foodies since 1997, and has been wholesaling and distributing to New York restaurants for nearly four decades prior to that.  In 2015, Buon’Italia’s founder, Domenico “Mimmo” Magliulo, and his family embarked on a plan to expand the company’s wholesale distribution capabilities, choosing to establish a 27,500-square-foot warehouse on Port Jersey Blvd. in Jersey City.

When Magliulo made the strategic decision to locate Buon’Italia’s wholesale operations in Jersey City, he turned to the New Jersey Economic Development Authority’s (EDA’s) Premier Lender Program for support. A Fulton Bank loan with a nearly 26 percent EDA participation helped the company acquire its new facility. Fulton Bank is one of EDA’s approximately two dozen Premier Lender partners.

“Jersey City offers many logistical advantages including access to major ports, highways, and Hudson River crossings, while still remaining close to the heart of our existing customer base,” said Magliulo. “The support provided by Fulton Bank and the EDA has truly helped to facilitate our expansion.”

EDA Chief Executive Officer Melissa Orsen visited Buon’Italia today to raise awareness of the Premier Lender Program and the range of other low-cost financing solutions offered by the EDA to support the growth of small businesses in New Jersey. She was joined by Angelica Lyons, Commercial Lender, Fulton Bank.

“We welcome Buon’Italia to the State and encourage all companies looking to expand or invest in their operations to look to the EDA first so they can be informed of all financing options available to support their growth in New Jersey,” said EDA Chief Executive Officer Melissa Orsen.  “Our highly skilled labor pool, perfect location,and world-class infrastructure have attracted scores of distribution and warehouse centers to the State. Together with a booming food and agriculture industry, New Jersey is an ideal home for Buon’Italia as it continues to grow.”

Buon’Italia celebrated another milestone in its growth on September 28, with a grand reopening at its new location at The Chelsea Local, the subterranean space of Chelsea Market. Magliulo states, “It has been an honor to be a tenant of Chelsea Market for over 20 years. We have seen the market evolve and flourish. We were thrilled in September to celebrate this major expansion and the redesign of our store along with the other vendors,” Magliulo stated.

To learn more about EDA resources for small businesses, visit www.njeda.gov/lookherefirst  and follow @NJEDAWasHere on Twitter and LinkedIn.

ABOUT BUON’ITALIA

Buon’Italia, a gourmet Italian grocery store, has offered its customers an authentic taste of Italy for over twenty years.  Situated in the heart of Manhattan at the historic Chelsea Market, Buon’Italia is recognized for its extensive range of high-quality imported Italian food and other related products. Whether you are an Italophile, food distributor, restaurant, gourmet food enthusiast, or foodie, Buon’Italia will impress even the toughest palate. Visit us in-store or on our online grocery store so we may help you achieve all your culinary ambitions. 

For more information about Buon’Italia, please visit www.buonitalia.com