A telephonic meeting of the Commission of Science, Innovation and Technology (CSIT) Board has been scheduled for Friday, April 24, 2020 at 10:00 am.

CSIT BOARD MEETING
PARTICIPANT DIAL-IN NUMBERS:   1-888-431-3598
PARTICIPANT AUTOMATED CONFERENCE ID:   8068877

 

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

TRENTON, N.J. (April 13, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced it will be accepting donations from individuals and companies to support the Authority’s Small Business Emergency Assistance Grant Program, which provides grants to New Jersey small businesses impacted by the COVID-19 outbreak. Individuals and companies interested in making a donation should contact donation@njeda.com.
 
“Small businesses are the heartbeat of New Jersey’s economy. Ensuring they have the resources they need to withstand the COVID-19 outbreak is critical to keeping our economy afloat and setting the stage for a strong recovery,” said NJEDA Chief Executive Officer Tim Sullivan. “Due to the unprecedented scale of this outbreak, demand for emergency support is greatly outpacing what the NJEDA can provide alone. We encourage companies and individuals that have the means to help to step in so we can expand this program to serve the many businesses that need help.”
 
Applications for the NJEDA’s Small Business Emergency Assistance Grant Program launched on April 3rd, 2020. Within an hour the program was oversubscribed; within a week the NJEDA received more than 30,000 applications. To address the massive need for support, the NJEDA has created a process for corporate and philanthropic partners to make donations to expand the Program. A description of the Program can be found at https://faq.business.nj.gov/en/articles/3835237-how-do-i-apply-to-the-njeda-small-business-emergency-assistance-grant-application-now-open-here.
 
For the NJEDA to effectively administer the Program, gifts to support the Small Business Emergency Assistance Grant Program must be at least $100,000. The gifts must be unrestricted and without conditions. To avoid conflicts of interest, donors must have no existing contracts with the NJEDA and may not enter into a contract with the Authority for at least six months following the donation. This includes tax incentive agreements, financial assistance, bond contracts, leases, and other contracts.
 
Individuals and companies interested in donating to support the Small Business Emergency Assistance Grant Program should contact donation@njeda.com. NJEDA will provide a form letter that the Donor must complete and sign. Comprehensive information about New Jersey’s response to the novel coronavirus outbreak is available here: https://covid19.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, and LinkedIn.
 

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COVID-19 Outbreak
New Jersey Economic Development Authority (NJEDA)
Small Business Emergency Assistance Loan Program
 
Overview
 
On March 9, 2020, Governor Phil Murphy issued Executive Order 103, declaring a State of Emergency and a Public Health Emergency to ramp up New Jersey’s efforts to contain the spread of COVID-19. Subsequent containment measures were announced and are continuing to be announced, including restrictions on public gatherings and limited operating hours for non-essential businesses. While these measures are consistent with similar measures being taken nationally that are expected to limit the public’s exposure to COVID-19, there is already and will continue to be an adverse economic impact on our nation’s economy.
 
Within New Jersey, small businesses, and residents employed by these businesses, are facing economic challenges as businesses have difficulties meeting payroll obligations and supporting basic operating expenses that are expected to increase during a prolonged period of restricted operation or closing. Without a source of immediate relief, small businesses are being forced to furlough or lay off employees. Accordingly, the State of New Jersey is taking early action on a set of economic stability measures to provide short-term cash flow support to small businesses and increase overall business confidence, with the following objectives:
 

  • Get funding into the market as soon as possible;
  • Where possible, adjust existing NJEDA programs to address crisis needs;
  • Utilize multiple channels/partners to maximize marketing of programs and minimize processing capacity constraints;
  • Leverage private, federal, and philanthropic capital where possible to scale impact; and
  • Provide a suite of compatible offerings to help address varied marketplace needs (e.g., grants, no-cost loans, low-cost loans, loans through intermediaries, technical assistance).

 
Purpose
 
The Small Business Emergency Assistance Loan Program provides low-cost financing available to cover operating expenses and ensure continuity of operation for New Jersey small businesses and non-profit organizations that have been impacted by COVID-19.
 
Loan Amounts
 
Under the Small Business Emergency Assistance Loan Program, small businesses and non-profit organizations in existence for at least one year before the date of application having less than $5 million in annual revenue and a physical commercial location (not including home business locations) in New Jersey may be eligible for a direct loan of up to $100,000.
 
In recognition of the purpose of the financing and recognizing that entities facing economic challenges can only benefit from financing that is low-cost and has flexible terms, the NJEDA has structured these loans with a 10-year term and amortization, with the first five years at a fixed interest rate of 0 percent, and the remaining five years at the Authority’s prevailing interest rate floor (capped at 3.00 percent), with deferred repayments for 12 months, and an additional 6 months of deferral, if needed. The NJEDA’s interest rate floor is fixed, only changed by the EDA per a policy decision, and not based on prevailing market conditions similar to a US Treasury rate.
 
An eligible entity must be able to show a global debt service coverage ratio of 1.00 in the fiscal year prior to the Governor’s issuance of Executive Order 103 on March 9, 2020. Financial statements provided may be CPA prepared, management prepared, or filed copies of business tax returns.    
 
For guarantors, unlimited personal guarantees of individuals having a 10 percent or more ownership in for-profit applicants and related entities will be required. Personal guarantees will not be applicable for non-profit organizations. Consistent with the approach that is being taken by the federal Small Business Administration in its emergency loans, the EDA will require the borrower to pledge all available collateral for the loan which may include real estate if available.  No loans will be declined for a lack of collateral.
 
 Eligible Uses
           
The financing available under the Small Business Emergency Assistance Loan Program may be used as working capital to support business continuity for a range of COVID-19 related impacts to businesses (reduced revenue, employee shortage, supply chain impact, etc.)
 
Eligible Applicants
 
In order to be eligible, entities shall be small businesses and non-profit organizations in existence for at least one year before the date of application having less than $5 million in annual revenue and a physical commercial location (not including home business locations) in New Jersey.
 
The eligible entity must have a physical commercial location in the State of New Jersey (e.g., an office, a physical point of sales, a warehouse, manufacturing facility, etc.). Home-based businesses are not eligible for this program; however, non-profit organizations are eligible.
 
The CEO/equivalent officer of the applying entity must self-certify that the firm:
 

  • Will make a best effort not to furlough or lay off any individuals from the time of application through six months after the end of the declared state of emergency (entities that have already furloughed or laid off workers must make a best-effort pledge to re-hire those workers as soon as possible) – any material breach of its best efforts certification may result in the NJEDA seeking immediate repayment of the outstanding amount of the loan; and
  • Has been negatively impacted by the COVID-19 declared state of emergency on or after March 9, 2020 (e.g., has been temporarily shut down, has been required to reduce hours, has had at least a 20 percent drop in revenue, has been materially impacted by employees who cannot work due to the outbreak, or has a supply chain that has materially been disrupted and therefore slowed firm-level production).

 
In addition, the applying entity must be registered to do business in the State of New Jersey; have an up-to-date Tax Clearance Certificate from the New Jersey Department of Treasury at time of approval; and must be in good standing with the New Jersey Department of Labor and Workforce Development.
 
Prohibited businesses include, but are not limited to: gambling or gaming activities; the conduct or purveyance of “adult” (i.e., pornographic, lewd, prurient, obscene or otherwise similarly disreputable) activities, services, products or materials (including nude or semi-nude performances or the sale of sexual aids or devices); any auction or bankruptcy or fire or “lost-our-lease” or “going-out-of-business” or similar sale; sales by transient merchants, Christmas tree sales or other outdoor storage; any activity constituting a nuisance; or any illegal purposes.
 
Application Process
           
Applications will be accepted until all funding is exhausted or through the end of the declared emergency and public health emergency.
 
Fees
           
Due to financial hardship, there will be no fees associated with the Small Business Emergency Assistance Loan Program for the first five years of a loan, including application fees, and then standard modification fees will apply.
 
Additional Information
 
Additional information on the Small Business Emergency Assistance Loan Program may be found at https://faq.business.nj.gov/en/collections/2198378-information-for-nj-businesses-on-the-coronavirus-outbreak.

TRENTON, N.J. (7 de abril de 2020) – En respuesta a la actual pandemia de COVID-19, New Jersey Economic Development Authority (NJEDA) ha extendido el plazo para presentar las respuestas a su solicitud de información (RFI) que busca recopilar información sobre las opciones para aumentar el acceso al capital a las empresas emergentes dirigidas por personas de origen latino y afroamericano en New Jersey. Se recibirán respuestas hasta el 29 de julio de 2020. La RFI está disponible en línea en https://www.njeda.gov/Bidding-Opportunities-General/Economic-Transformation-RFIs.

La RFI, emitida el 27 de febrero de 2020, ayudará a NJEDA a comprender completamente el alcance y las características de los desafíos que enfrentan los empresarios y emprendedores de origen latino y afroamericano al intentar acceder al capital público y privado. De acuerdo con una encuesta reciente llevada a cabo por Diversity VC y Rate My Investor, a nivel nacional, menos del uno por ciento de las inversiones de capital de riesgo se destinan a empresas que son propiedad de afroamericanos y menos del dos por ciento, a empresas que son propiedad de latinos. Esto no solo priva a los miembros de estas poblaciones de oportunidades, sino que también crea enormes costos de oportunidad al privar a las economías e industrias de la amplia gama de perspectivas y experiencias que podrían aportar los miembros de las poblaciones marginadas.

“Si bien debemos centrarnos de inmediato en ayudar a estabilizar a las pequeñas empresas durante este período de crisis, nuestros compromisos y principios a largo plazo se mantienen intactos como siempre bajo el liderazgo del Gobernador Murphy, incluida la creación de la economía de innovación más diversa e inclusiva del país”, afirmó Tim Sullivan, Director Ejecutivo de NJEDA. “Extender la fecha límite de la RFI garantizará que los miembros de la comunidad de innovación de New Jersey tengan tiempo suficiente para brindar sus aportes”.

La RFI busca el aporte de una amplia variedad de interesados, incluidos administradores de fondos, inversores ángeles, capitalistas de riesgo, propietarios de pequeñas empresas, investigadores y profesionales que trabajen en el ámbito empresarial, grupos industriales y comerciales, y otros gobiernos estatales. Las preguntas incluidas en la RFI abordan las necesidades de las empresas latinas y afroamericanas, y solicitan sugerencias acerca de cómo estructurar soluciones de la mejor manera, incluso atraer fondos de capital inicial existentes a New Jersey o crear un nuevo fondo de capital inicial con un enfoque específico en tales empresas. NJEDA considera como posible solución la creación de un fondo de capital inicial para la diversidad que se centraría en destinar capital a las empresas latinas y afroamericanas. 

Todas las preguntas relacionadas con esta RFI se deben enviar por escrito antes de las 11:59 p. m., hora del este, del día 30 de junio de 2020 a RFI-ExpandingSeedCapital@njeda.com. El asunto del correo electrónico debe contener lo siguiente: “Questions-2020-RFI-099: Expanding Seed Capital to Black and Latinx Entrepreneurs.” Las respuestas a estas preguntas se publicarán en el sitio web de EDA el 13 de julio de 2020, o alrededor de esa fecha.
 
Las respuestas a la RFI se deben enviar por escrito antes de las 11:59 p. m., hora del este, del día 29 de julio de 2020 a RFI-ExpandingSeedCapital@njeda.com. El asunto del correo electrónico debe contener lo siguiente: “RFI Response-2020-RFI-099: Expanding Seed Capital to Black and Latinx Entrepreneurs.”
 
Para leer el plan económico completo del Gobernador Murphy, visite https://nj.gov/economicplan
 
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy.
 
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.

Please be advised that the meeting of the New Jersey Economic Development Authority scheduled
for 10:00 AM, Tuesday, April 14, 2020 is a telephonic meeting only.
 
The Members will convene to discuss and vote on matters via conference call only.
 
Members of the public may participate in the meeting by calling in on the conference line.  Members of the public will have an opportunity to speak during the public comment segment of the meeting. The following conference numbers are provided for the public to call in for the meeting:
 
NJEDA BOARD MEETING
PARTICIPANT DIAL-IN NUMBERS:   800-459-5343 OR 203-518-9553
PARTICIPANT AUTOMATED CONFERENCE ID:   24874
 
Please note there may be a delay in accessing the conference line, so members of the public are encouraged to call in at least 15 minutes prior to the time scheduled to begin.

.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.

COVID-19 Outbreak
New Jersey Economic Development Authority (NJEDA)
Community Development Financial Institution (CDFI) Emergency Assistance Grant Program
Notice of Funding Availability: Application Will Open at 9:00am on Wednesday April 8, 2020 on https://application.njeda.com/. 
 

Only NJ-based Community Development Financial Institutions (CDFI) may apply for this grant funding.

 
Overview
 
On March 9, 2020, Governor Phil Murphy issued Executive Order 103, declaring a State of Emergency and a Public Health Emergency to ramp up New Jersey’s efforts to contain the spread of COVID-19. Subsequent containment measures were announced and are continuing to be announced, including restrictions on public gatherings and limited operating hours for non-essential businesses. While these measures are consistent with similar measures being taken nationally that are expected to limit the public’s exposure to COVID-19, there is already and will continue to be an adverse economic impact on our nation’s economy.
 
Within New Jersey, small businesses, and residents employed by these businesses, are facing economic challenges as businesses have difficulties meeting payroll obligations and supporting basic operating expenses that are expected to increase during a prolonged period of restricted operation or closing. Without a source of immediate relief, small businesses are being forced to furlough or lay off employees. Accordingly, the State of New Jersey is taking early action on a set of economic stability measures to provide short-term cash flow support to small businesses and increase overall business confidence, with the following objectives:
 

  • Get funding into the market as soon as possible;
  • Where possible, adjust existing NJEDA programs to address crisis needs;
  • Utilize multiple channels/partners to maximize marketing of programs and minimize processing capacity constraints;
  • Leverage private, federal, and philanthropic capital where possible to scale impact; and
  • Provide a suite of compatible offerings to help address varied marketplace needs (e.g., grants, no-cost loans, low-cost loans, loans through intermediaries, technical assistance).

 
Purpose
 
The Community Development Financial Institution (CDFI) Emergency Assistance Grant Program is a pilot program to make grants to CDFIs to support them to scale up assistance to micro and small businesses negatively impacted by the COVID-19/novel coronavirus (“COVID-19”) outbreak. The program will provide much needed flexible support that either could offset incremental operating costs due to a surge in COVID-19 related lending or to enhance the CDFI’s loan offerings by buying down interest rates on COVID-19 business loans. 
 
Eligible Applicants:
 
Under the CDFI Emergency Assistance Grant Program, an eligible applicant must:
 

  • Be a NJ-based Community Development Finance Institution (CDFI) that has been in existence for at least 10 years;
  • Demonstrate it is a current CDFI through documentation provided by the U.S. Department of Treasury;
  • Complete a simplified debarment legal questionnaire;
  • Produce a current NJ Tax Clearance Certificate and be verified in good standing with Department of Labor; and
  • Demonstrate the following key factors:

 

  • Significant experience working with underserved small business segments (additional consideration will be given for experience working on emergency assistance programs);
  • Available capital that could be leveraged in COVID-19-related emergency low-cost and low-interest working capital loans;
  • Significant experience working in communities and business segments underserved by the banking sector and other financial institutions;
  • Quality of a plan that outlines the intended uses of the grant funding that include offsetting an increase in operating expenses associated with the COVID-19 emergency or buying down the cost of funding to allow lower cost loans for COVID-19 emergency loan programs;
  • Quality of a plan that outlines the intended uses of the grant funding, including offsetting an increase in operating expenses associated with the COVID-19 emergency or buying down the cost of funding to allow lower cost loans for COVID-19 emergency loan programs; and
  • Deep experience and focus on small business lending, as evidenced by having a significant portion of the CDFI’s lending portfolio be with small businesses (additional consideration will be given for having a portion of its lending portfolio with emergency assistance programs).

 
Finally, any CDFI that participates in this program is not eligible to participate in the Small Business Emergency Assistance Loan Program.
 
Grant Amounts
 
Each eligible CDFI can qualify for up to $250,000 in grant funds; and, will have up to 12 months to utilize their grant funds.
 
Eligible Uses
           
The grant funding available through the CDFI Emergency Assistance Grant Program can be used to: support the scale-up of the origination, technical support, and underwriting capacity of these CDFIs, including hiring staff; and allow the CDFIs to buy down interest rates on any COVID-19 related emergency working capital loan, thereby providing impacted businesses with lower-costs and more flexible financing.
 
Funding Disbursement
 
Upon approval from the NJEDA, the grant funding will be disbursed to the CDFI. Authority staff will require documentation on a quarterly basis validating the operational expenses or interest buy down for which the CDFI requested the grant disbursement, which may include, but not be limited to: detailed invoices, statements, detailed receipts, or internal financials. A CDFI may receive a grant under this program and also participate in the Community Development Finance Institution (CDFI) Loan Loss Reserve Fund and Small Business Emergency Assistance Guarantee Program.

Application Process
 
CDFIs will apply for the program through an online application which will include a basic web-form questionnaire, a one to three-page narrative of the CDFI’s plans for use of the funds, and disclosure of key financial metrics, such as availability of capital. Other necessary documentation will be identified and requested in the application. Given the urgency of which funding and resources are needed by micro and small-businesses, applications will be reviewed and approved on a rolling basis and the program will be closed once the funding is exhausted.
 
Fees
           
Due to financial hardship, no fees will be collected by the Authority for this program.
 
Additional Information
 
Additional information on the Community Development Financial Institution (CDFI) Emergency Assistance Grant Program may be found at https://faq.business.nj.gov/en/collections/2198378-information-for-nj-businesses-on-the-coronavirus-outbreak.

COVID-19 Outbreak
New Jersey Economic Development Authority (NJEDA)
Small Business Emergency Assistance Grant Program
Notice of Funding Availability: Application Will Open at 9:00am on Friday April 3, 2020 on https://cv.business.nj.gov.

 
 Overview
 
On March 9, 2020, Governor Phil Murphy issued Executive Order 103, declaring a State of Emergency and a Public Health Emergency to ramp up New Jersey’s efforts to contain the spread of COVID-19. Subsequent containment measures were announced and are continuing to be announced, including restrictions on public gatherings and limited operating hours for non-essential businesses. While these measures are consistent with similar measures being taken nationally that are expected to limit the public’s exposure to COVID-19, there is already and will continue to be an adverse economic impact on our nation’s economy.
 
Within New Jersey, small businesses, and residents employed by these businesses, are facing economic challenges as businesses have difficulties meeting payroll obligations and supporting basic operating expenses that are expected to increase during a prolonged period of restricted operation or closing. Without a source of immediate relief, small businesses are being forced to furlough or lay off employees. Accordingly, the State of New Jersey is taking early action on a set of economic stability measures to provide short-term cash flow support to small businesses and increase overall business confidence, with the following objectives:
 

  • Get funding into the market as soon as possible;
  • Where possible, adjust existing NJEDA programs to address crisis needs;
  • Utilize multiple channels/partners to maximize marketing of programs and minimize processing capacity constraints;
  • Leverage private, federal, and philanthropic capital where possible to scale impact; and
  • Provide a suite of compatible offerings to help address varied marketplace needs (e.g., grants, no-cost loans, low-cost loans, loans through intermediaries, technical assistance).

 
Purpose
 
The purpose of the Small Business Emergency Assistance Program is to provide short-term, immediate payroll and working capital support to New Jersey small and medium sized enterprises (businesses and non-profits) (SMEs), between one and 10 full-time employees (FTEs), facing prolonged operating restrictions or closure due to the COVID-19 outbreak, thereby helping to stabilize their operations and minimizing any potential furloughs and/or layoffs.
 
Eligible Uses
           
Under the Small Business Emergency Assistance Grant Program, funding may be used for unrestricted payroll and working capital support; however, funding cannot be used for capital expenses, including construction.
 
Grant Amounts           
 
Eligible businesses may receive $1,000 per FTE, with the calculation based on the WR-30 filing from the most recent payroll period from date of application. The minimum grant amount (per application) is $1,000; and maximum grant amount (per application) is $5,000.
 
While the maximum grant amount per SME is $5,000, specific grants amounts will be calculated based on $1,000 per FTE – based on the FTEs reported on company’s most recently filed WR-30 with the New Jersey Department of Labor and Workforce Development (DOL). Implied FTE calculations will be rounded to the nearest FTE (e.g., 2.24 FTEs would be counted as 2 FTEs for the program, whereas 2.50 or 2.75 FTEs would be counted as 3 FTEs). While the calculation of FTEs is based on weeks worked and wages as reported on the Company’s 4th Quarter 2019 WR-30 filing, in no event will a company receive grant funding based on a number of FTEs that exceeds the number of employees employed by the company. Because WR-30 filings are based on Employer Identification Numbers (EINs), SMEs with more than one EIN will be able to submit one application per EIN. SMEs that may have multiple locations but only one EIN can only apply once for a maximum of $5,000.
 
Funding Disbursement
 
Of the $5 million total NJEDA funding commitment, $3 million of program funds will be set aside for SMEs with five or fewer FTEs; however, these funds may be released back to a general pool at the discretion of the Chief Executive Officer if demand from SMEs with five or fewer FTEs has decreased significantly and demand from SMEs over five employees remains high. As the demand for the grant funding may exceed the total available funding, funding will be considered on a first-come, first-served basis based upon the date and time which the NJEDA receives a complete application. NJEDA will review applications in the order in which they are received.
 
Eligible Applicants
 
Each eligible SME must have between one and 10 FTEs as reported on their New Jersey 4th Quarter 2019 WR-30 filing with the New Jersey Department of Labor and Workforce Development. Non-employee companies, holding companies, companies that utilize 1099 employees (although these companies’ FTEs may be eligible), and larger firms are not eligible for this round of grant funding.
 
The eligible SME must have a physical commercial location in the State of New Jersey (e.g., an office, a physical point of sales, a warehouse, manufacturing facility, etc.). No home-based businesses are eligible for this round of grant funding.
 
The eligible SME must operate within the following industries as defined by the SME’s two-digit North American Industry Classification (“NAICS”) code: Retail; Accommodation & food services; Arts, entertainment & recreation; and Other services (restricted to businesses with 3-digit NAICS of 811 and 812). Non-profits entities with the following designations will also be permitted to receive grant funding: 501(c)(3), 501(c)(4), and 501(c)(7).
 
Prohibited businesses include, but are not limited to: gambling or gaming activities; the conduct or purveyance of “adult” (i.e., pornographic, lewd, prurient, obscene or otherwise similarly disreputable) activities, services, products or materials (including nude or semi-nude performances or the sale of sexual aids or devices); any auction or bankruptcy or fire or “lost-our-lease” or “going-out-of-business” or similar sale; sales by transient merchants, Christmas tree sales or other outdoor storage; any activity constituting a nuisance; or any illegal purposes.
 
The CEO/equivalent officer of the eligible SME must self-certify that the firm:
 

  • Will make a best effort not to furlough or lay off any individuals from the time of application through six months after the end of the declared state of emergency (SMEs that have already furloughed or laid off workers must make a best-effort pledge to re-hire those workers as soon as possible) – any material breach of its best efforts certification may result in the NJEDA seeking repayment of the grant;

 

  • Has been negatively impacted by the COVID-19 declared state of emergency on or after March 9, 2020 (e.g., has been temporarily shut down, has been required to reduce hours, has had at least a 20 percent drop in revenue, has been materially impacted by employees who cannot work due to the outbreak, or has a supply chain that has materially been disrupted and therefore slowed firm-level production); and

 

  • Has a material financial need that cannot be overcome without the grant of emergency relief funds at this time (e.g., does not have significant cash reserves that can support the SME during this period of economic disruption).

 
In addition, an eligible SME must show evidence, at the time of application, that the SME is registered to do business in the State of New Jersey and is in good standing with the New Jersey Department of Labor and Workforce Development. In conjunction with Division of Taxation/Department of Treasury authority under the tax clearance certificate program established pursuant to P.L. 2007, c.101, the NJEDA will require a certification from the applicant that it does not owe any taxes; the grant will be subject to repayment if the certification is not correct.
 
Finally, eligible SMEs can submit one application per Employer Identification Number, i.e., SMEs with multiple Employer Identification Numbers (EINs) can submit one application per EIN; and, businesses with multiple locations but only one EIN will be limited to one application (under the sole EIN).
 
Application Process
 
Online applications will be accepted on a first-come, first-served basis, based upon the date and time which the Authority receives a completed application submission.
 
Fees
           
Due to financial hardship, no fees will be collected by the Authority for this program.
 
Additional Information
 
Additional information on the Small Business Emergency Assistance Grant Program may be found at https://faq.business.nj.gov/en/collections/2198378-information-for-nj-businesses-on-the-coronavirus-outbreak.

The New Jersey Economic Development Authority will hold a special telephonic Board meeting on Thursday, March 26, 2020 at 10 a.m. 

Members of the public may participate in the meeting by calling in on the conference line. Members of the public will have an opportunity to speak during the public comment segment of the meeting. The following conference line is being provided for both purposes. Please note there may be a delay in accessing the conference line, so members of the public are encouraged to call in 15 minutes prior to the time scheduled to begin.

Participant Dial In Numbers:

877-876-9173  or   785-424-1672

Conference ID: NJEDA

.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.

Please be advised that a Special Telephonic Meeting of the Capital City Redevelopment Corporation Board Meeting is scheduled for 1pm, Tuesday, March 24, 2020.  The Members will convene via conference call only, to discuss and vote upon the Annual Report of the Capital City Redevelopment Corporation.

Members of the public whom wish to speak during the public comment segment of the meeting, pertaining to agenda items, may call into the meeting by using the following conference number:
 
Teleconference #:
1-888-431-3598
Access Code: 8068877

The agenda can be found 48 hours prior to the meeting at our website: www.njeda.gov/ccrc.

TRENTON, N.J. (March 12, 2020) – Pursuant to Executive Order 103 (Murphy 2020) (“EO 103”) in response to increasing numbers of employers encouraging employees to work from home in response to the COVID-19 pandemic, the New Jersey Economic Development Authority (NJEDA) is waiving certain specific requirements related to employee presence in the office for the recipients of awards under employment-based incentive programs. 
 
This waiver will apply if the recipient provides documentation from their Human Resources department that demonstrates their work from home policy directly relates to COVID-19 and the communication to the recipient’s staff that the policy has been invoked. This documentation shall be included in the recipient’s 2020 annual certification submission and an email to the recipient’s Servicing Officer should be sent notifying the NJEDA that this temporary waiver has been instituted. 
 
“As companies across the state formulate plans to continue conducting business while mitigating the potential risk of COVID-19, this waiver will alleviate concern about jeopardizing incentives for which they have been approved,” said NJEDA Chief Executive Officer Tim Sullivan. “Health and safety are our top priorities, and we want to support companies in making decisions that protect their employees and communities while ensuring New Jersey's economic well-being." 
 
The waiver applies to recipients of awards under the Business Employment Incentive Program (“BEIP”), Business Retention and Relocation Assistance Grant Program (“BRRAG”), Urban Transit Hub Program (“HUB”), and the Grow New Jersey Program (“Grow NJ”) who are normally bound by the following requirements in NJEDA rules:
 

  • N.J.A.C. 19:31-10.2: In BEIP, the requirement that a full-time employee “spend at least 80 percent of his or her time at the site” to meet the definition of “full-time employee at the qualified business facility.”
  • N.J.A.C. 19:31-14.2: In BRRAG, the requirement that a full-time employee “spend at least 80 percent of his or her time at the site” to meet the definition of “full-time employee at the qualified business facility.”
  • N.J.A.C. 19:31-9.2: In HUB, the requirement that a full-time employee “spend at least 80 percent of his or her time at the site” to meet the definition of “full-time employee at the qualified business facility.”
  • N.J.A.C. 19:31-18.2: In Grow NJ, the requirement that a full-time employee “must spend at least 80 percent of his or her time at the qualified business facility” to meet the definition of “eligible position” or “full-time job.”  

The waiver shall only apply to the time the State is in a Public Health Emergency and that a State of Emergency, as proclaimed in EO 103, is in effect.
 
Award recipients with questions should reach out directly to their assigned Incentives Officer.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness. 
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.