New Jerseyâs Plan to Become the National Capital of Offshore Wind
Susanne Peticolas and Christopher J. Cavaiola Share:
One of the offshoots of a post-COVID-19 world is the increased attention to other existential threats facing humanity that can cause serious interruptions to business as usual in America. One of those threats is climate change. New Jerseyâs Governor Phil Murphy and his administration have made combating climate change a key priority in the state since taking office in January 2018. Governor Murphy has arguably just unveiled his most ambitious plan to date, introducing plans in June 2020 that would make New Jersey the hub of the Eastern Seaboardâs offshore wind industry by creating a centrally located wind turbine manufacturing and assembly center critical for the wind industryâs growth. This article will explore how Governor Murphy plans to do this, and the potential state and federal policy and legal implications. Is this just another ex
The New Jersey Economic Recovery Act Of 2020: An Overview Of The New Jersey Film & Digital Media Tax Credit Program | Greenbaum, Rowe, Smith & Davis LLP
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Biden team rolls out SBA grants for struggling bars, restaurants April 27, 2021
2:04 pm
The federal Small Business Administration is opening applications on May 3 at noon for the Restaurant Revitalization Fund, a $28.6 billion pot of money to help the restaurant industry devastated by the COVID-19 pandemic over the past year.
Registration for the applications begins April 30 30 at 9 a.m., the federal agency announced, and applications will remain open until funds run out.
Grants are capped at $10 million per business, and $5 million per location, and have to be completely used by March 11, 2023.
In order to target smaller employers, there are tiered set-asides for businesses depending on how much revenue they earned in 2019: $5 billion for businesses with up to half a million dollars in gross revenue, $500 million for businesses with up to $50,000 made in 2019, and $4 billion for restaurants that made between half a million dollars and $1.5 million in 2019.
AeroFarms Expands Global Headquarters to Support Growth and Innovation On Apr 26, 2021
AeroFarms, a leader in indoor vertical farming, has received its certificate of occupancy for expansion of its global headquarters in Newark. To support its corporate expansion, AeroFarms recently completed the build out of an additional 25,000 square feet at its headquarters for new office space and more expansive R&D and Innovation Centers of Excellence.
In 2015, AeroFarms partnered closely with the City of Newark and the New Jersey Economic Development Authority (NJEDA), to relocate its headquarters to Newark from the Finger Lakes region of New York with the goal of creating more than 75 year-round jobs in the local community. Today, AeroFarms employs more than 150 team members in Newark, and is delivering on its vision of not only serving the broader New York metro area, but also serving as the global epicenter for large scale commercial indoor vertical farming and
Nonprofits Access Small Business Pandemic Loans
April 26, 2021
New Jersey Gov. Phil Murphy has signed a law authorizing nonprofits and small businesses to receive up to $15 million in coronavirus relief-related federal grants. The legislation, A. 5446, is part of a five-bill set that will provide up to $100 million in targeted aid to New Jersey enterprises and others suffering from the effects of the pandemic.
Under the terms of the new legislation, the New Jersey Economic Development Authority (NJEDA) is charged with distributing the funds to nonprofit organizations and businesses within the state, with an eye toward preventing further nonprofit organization and business closures, preserving and creating jobs and spurring economic recovery.
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