NJ
New Jersey Assembly Bill A2352

New Jersey 2024-2025 Regular Session

New Jersey Assembly Bill A2352

Introduced
1/9/24  

Caption

Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

Impact

The implementation of A2352 is set to impact state laws concerning economic development and support for startups. By enabling the New Jersey Economic Development Authority to manage the grant program with funding up to $1 million sourced from societal benefits charge revenues, the bill aims to bolster support for emerging businesses. It reflects a commitment from state legislators to foster a conducive environment for technological advancement and business growth.

Summary

Assembly Bill A2352 aims to establish a Business Accelerator and Incubator Network Grant Program, which facilitates the allocation of grants to business accelerators and incubators that support incubator businesses within New Jersey. The bill intends to enhance economic growth by encouraging innovation and entrepreneurship in the state, specifically targeting sectors such as clean energy, life sciences, advanced materials, and big data.

Contention

While there is broad support for the bill's intent, certain points of contention may arise regarding the program's eligibility criteria and the allocation of funds. Critics may argue that the specific focus on certain fields could inadvertently exclude diverse business models that do not fit neatly within the defined sectors. Furthermore, the effectiveness of the program in achieving its goals will be heavily monitored through annual reports evaluating grant distributions and program outcomes.

Companion Bills

NJ S3005

Same As Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

NJ S1470

Carry Over Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

NJ A4360

Carry Over Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

Previously Filed As

NJ S1470

Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

NJ S3005

Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

NJ A4360

Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

NJ S126

Provides assistance to business accelerators and incubators and startup businesses located within those business accelerators and incubators.

NJ A1129

Provides assistance to business accelerators and incubators and startup businesses located within those business accelerators and incubators.

NJ A1315

Provides assistance to business accelerators and incubators and startup businesses located within those business accelerators and incubators.

NJ S2047

Provides assistance to business accelerators and incubators and startup businesses located within those business accelerators and incubators.

NJ A2876

Establishes "Solar Roof Installation Warranty Program" in EDA and transfers $2 million from societal benefits charge to initially fund program.

NJ S2427

Establishes "Solar Roof Installation Warranty Program" in EDA and transfers $2 million from societal benefits charge to initially fund program.

NJ A982

"Innovate New Jersey Act"; establishes tax-free business incubators at institutions of higher education.

Similar Bills

NJ S1470

Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

NJ S3005

Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

NJ A4360

Creates grant program for business accelerator and incubator networks; transfers $1 million in societal benefits charge revenues to EDA to administer program.

NJ S126

Provides assistance to business accelerators and incubators and startup businesses located within those business accelerators and incubators.

NJ S2047

Provides assistance to business accelerators and incubators and startup businesses located within those business accelerators and incubators.

NJ A1129

Provides assistance to business accelerators and incubators and startup businesses located within those business accelerators and incubators.

NJ A1315

Provides assistance to business accelerators and incubators and startup businesses located within those business accelerators and incubators.

NJ A940

Establishes Clean Energy Technology Center and Alternative and Clean Energy Investment Trust Fund for purposes of creating clean energy-related employment opportunities; allocates revenues from societal benefits charge to support its activities.