To help financially support businesses and non-profits struggling as a result of the COVID-19 public health emergency, three Assembly Democrats sponsor legislation to provide funding for these organizations.
Subject to the availability of federal funds, $15 million in funds provided to New Jersey in response to the COVID-19 pandemic would be made available to the Economic Development Authority (EDA) to support businesses and non-profits in need.
Upon the Assembly Commerce and Economic Development Committee recently advancing the bill (A-5446), Assembly sponsors Andrew Zwicker (D- Hunterdon, Mercer, Middlesex, Somerset), Sterley Stanley (D-Middlesex) and Joann Downey (D-Monmouth) issued the following joint statement:
“The economic fallout of the COVID-19 pandemic has caused a financial crisis for countless businesses and non-profits in New Jersey. Right now, many are struggling to stay afloat amidst challenges posed by the ongoing public health emergency.
“Providing our support during this difficult time will not only allow these organizations to remain in operation, but will help preserve and create jobs while spurring the economic recovery we aim to achieve. Investing in our businesses and non-profits will have a direct, beneficial impact on families throughout our state for years to come.”