NEW JERSEY – Rural businesses across the state would get a boost under legislation sponsored by Senator Steve Oroho and approved Friday by the Senate.
Oroho’s bill, S-2771, requires the New Jersey Economic Development Authority (EDA) to establish the Rural Business Development Program to help enterprises in small communities survive the pressures of the pandemic and into the future.
“New Jersey’s taxes and regulatory environment are rough on all businesses, but companies struggling to make ends meet in rural areas face even greater challenges,” Oroho (R-24) said. “This business development program will help strengthen and support small employers that are crucial to communities where good jobs are difficult, if not impossible, to find.”
Under the bill, a Rural Business Development Fund would be established to provide grants for the creation or retention of jobs at rural companies. The EDA would receive $35 million in appropriations for the program.
“Business growth and new jobs can fuel a sleepy town’s transition into a desirable location to raise a family and a trendy destination to visit and shop,” Oroho said. “The rural business program can open doors to new opportunities in communities on the back roads and off the beaten paths of New Jersey.”