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The New Jersey Economic Recovery Act Of 2020: An Overview Of The Main Street Recovery Finance Program | Greenbaum, Rowe, Smith & Davis LLP

The New Jersey Economic Recovery Act Of 2020: An Overview Of The Main Street Recovery Finance Program | Greenbaum, Rowe, Smith & Davis LLP
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Slammed: NJ's economy under the pandemic | NJ Spotlight News

Credit: (AP Photo/Ted Shaffrey)
File photo: Nov. 23, 2020, a café in a Target store in Clifton converted into a curbside pickup staging area during the coronavirus pandemic
A year after the first cases of the coronavirus brought on statewide shutdown orders to curb new infections, New Jersey’s economy may no longer be in a freefall, but thousands of residents remain out of work and many small businesses are still struggling for survival.
The crush of unemployment benefits triggered by the pandemic also exposed a woefully overburdened unemployment system, and is an ongoing a source of complaints from many of those who are still seeking benefits as they look for jobs. ....

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8 Points In Gov. Murphy's NJ Budget Address That May Affect You

UpdatedFri, Feb 26, 2021 at 1:25 pm ET
Replies(45)
This year s state budget includes no new taxes or fees, but a lot of spending. Here s what you ll be paying for. (Thomas P. Costello/Gannett)
NEW JERSEY Gov. Phil Murphy delivered a 2020 budget address that may have surprised people, proposing a big burst of funding to schools but no new fees or tax hikes
But his address covered a lot of areas – additional school aid, COVID relief, business and pension funding, boosting health care and improving NJ Transit – that millions of New Jerseyans may find interesting, if not appealing . or even detestable
(see list of eight points below). ....

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New Jersey Landmark Economic Recovery Legislation Adopted | Cole Schotz

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To revitalize a state suffering from the economic and personal hardships wrought by the COVID pandemic, New Jersey Governor Murphy signed into law on Jan. 7, 2021, the New Jersey Economic Recovery Act of 2020. The Act adopts a series of incentives to both encourage businesses to settle in New Jersey and prevent Garden State businesses from fleeing to greener pastures elsewhere. Many of these programs will be administered by the New Jersey Economic Development Authority (“Authority”).
The new Emerge Program provides tax credits to encourage economic development, job creation and the retention of significant numbers of jobs in imminent danger of leaving the state. The program will target businesses that build, acquire or lease space in the state with plans to create or retain full-time jobs. ....

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NJ tax breaks: Murphy signs $14.5 billion corporate incentives bill

Trenton Bureau
Gov. Phil Murphy signed an expansive corporate tax break package Thursday with programs that authorize the state to award about $14.5 billion in tax incentives in coming years, with up to $11.5 billion earmarked for businesses and developers and up to $2.6 billion for film tax credits, among other incentives in the midst of a fiscal crisis brought on by the coronavirus pandemic.
Murphy has spent much of his three years in office blasting New Jersey’s previous controversial tax breaks for their ties to special interests and power brokers, a lack of oversight by the agency administering them and the cost to taxpayers. ....

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