To support military veterans in New Jersey, Assemblymen Bill Moen (D-Camden, Gloucester), Dan Benson (D-Mercer, Middlesex), and Joe Danielsen (D-Middlesex, Somerset) sponsor a measure that would make $2.5 million in federal funding available to veteran-owned businesses in need of financial assistance.
The bill (A-1591) would direct the New Jersey Economic Development Authority (NJEDA) to use the funding for grants to eligible veteran-owned businesses. As defined by the bill, a veteran-owned business must have its principal place of operation located in the State, be independently owned and operated, and have at least 51 percent of the business be owned and controlled by a veteran.
Upon the full Assembly unanimously passing the measure Monday, Assembly sponsors Moen, Benson, and Danielsen issued the following joint statement:
“Veteran-owned businesses have fought to overcome economic obstacles over the past two years, and every little bit of support will contribute to keeping them open. By providing access to additional funding for veterans, we will honor those who served in our Armed Forces while helping essential small businesses in New Jersey succeed.”