In an effort to support microbusinesses in New Jersey that are struggling as a result of COVID-19, a bill sponsored by Assembly Democrats Gordon Johnson, Roy Freiman and John Armato to appropriate funds in support of these businesses was signed into law Thursday.
Subject to the availability of federal funds, $25 million in funds that New Jersey was given access to in response to the COVID-19 pandemic will be provided to the Economic Development Authority (EDA) to support microbusinesses. To be eligible for grants, these businesses must have less than six full-time employees.
Upon the bill becoming law, Assembly sponsors Gordon Johnson (D-Bergen), Roy Freiman (D-Somerset, Mercer, Middlesex, Hunterdon) and John Armato (D-Atlantic) issued the following joint statement:
“Microbusinesses not only employ local residents, but also provide unique products and services that are tailor-made for their communities. New Jersey is a state that values hard work, ingenuity and entrepreneurship, and these businesses are a perfect example of the principles we seek to foster here.
“Microbusinesses are facing unprecedented challenges through no fault of their own because of this ongoing public health crisis. Offering our support in these difficult times will help ensure these valuable enterprises can continue to succeed for years to come.”