NEW JERSEY – Gov. Phil Murphy today signed into law S-3523, which provides $25 million in federal COVID-19 relief aid for small businesses throughout New Jersey. The bill provides a lifeline to microbusinesses with five or fewer employees. The bill is part of a five-bill, $100 million relief effort aimed at helping the state’s economy recover from the year-long pandemic.
The relief aid will be administered by the New Jersey Economic Development Authority, which so far has provided more than $250 million in aid to 55,000 New Jersey businesses.
“Main Street businesses have always been the backbone of our economy and unfortunately have been the hardest hit during the pandemic,” said Murphy. “This bill, along with others I’ll sign later this month, will help thousands of businesses keep their doors open as we climb out of the economic hardships wrought by COVID-19.”
“Small businesses are the heart and soul of our communities. While these businesses have been hit the hardest by COVID-19, the resilience and ingenuity of business owners and employees throughout the pandemic has been inspiring,” said Tim Sullivan CEO of the NJEDA. “This new bill that will provide additional resources for small businesses as they begin the hard work of recovering from the devastation of the pandemic.”