New Legislation Designed To Aid New Jersey Small Business Signed Into Law By Gov. Murphy
WESTFIELD, N.J. (CBSNewYork) -- Gov. Phil Murphy signed into law Thursday the New Jersey Economic Recovery Act of 2020. The focus is to provide small businesses support to help recover from the coronavirus pandemic and prepare for the future.
Outta Hand Pizza in Westfield is fighting to hold on.
"We have to adapt to new ways," owner Burim Regjaj told CBS2's Meg Baker.
With state aid, Regjaj said he was actually able to hire more employees, like delivery drivers.
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More funding will help then and others get through what is sure to be a long winter. The new Main Street recovery finance program provides $50 million for small businesses, with resources to upgrade websites and advertising.
"We can't stress enough how important it is for the citizens of New Jersey to shop local," said Bob Zuckerman, executive director of the Downtown Westfield Alliance.
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The new law bolsters the startup economy through the Innovation Evergreen Fund.
"It shows that New Jersey is open for business," said Luis Alamo, president and CEO of Alamo Insurance Group, Inc.
Urban areas will be a key focus for growth.
"A commitment to eradicating food deserts, a vision for turning urban brownfields and long-ignored properties into accessible, walkable, affordable and active communities," Murphy said.
Leaders said they hope this bipartisan legislation is a jolt of life for small businesses -- the backbone of the economy.
CBS2's Meg Baker contributed to this report
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