EDA seeking input on implementation of Economic Recovery Act

Portal will allow public to provide input on eligibility, net benefit and cost benefit analyses, and community benefits

Have some ideas for how the state should implement the recently signed Economy Recovery Act of 2020? The state would like to hear from you.

The New Jersey Economic Development Authority announced Wednesday it has launched a website to collect input from the public on the implementation of the package of tax incentive, financing and grant programs that will be created under the act.

Click here for more information and to submit comments.

EDA CEO Tim Sullivan said the state is hoping to not only ensure transparency in the process, but to get needed input from those who will be most impacted by the act.

“The New Jersey Economic Recovery Act of 2020 signed by Gov. (Phil) Murphy is critical legislation that creates valuable new tools for driving long-term, equitable economic growth,” he said. “As we develop these important new programs, we will do so with a commitment to transparency, equity and faithful stewardship of taxpayer dollars at the center of this effort.

“We welcome all New Jerseyans to be part of this process by submitting constructive input on how to ensure new programs created through the Economic Recovery Act are structured and administered in a manner that drives opportunities for all residents and communities.”

The EDA said the portal will allow any member of the public to provide input on how the EDA could operationalize various aspects of the new programs, such as program eligibility requirements, net benefit and cost benefit analyses, and community benefit agreements.

The site also is intended to allow members of the public to share their thoughts on how the EDA can make the programs more transparent.

Please note: This process precedes and is separate from the EDA’s formal procedure to adopt short-term rules, which will be effective immediately as authorized under the Economic Recovery Act, and the procedure for long-term rules, which will provide another opportunity for comment on rules and regulations for each new program in accordance with the Administrative Procedures Act.

In addition, all comments submitted through this portal are subject to New Jersey’s Open Public Records Act.

Murphy signed the Economic Recovery Act into law Jan. 7. Programs outlined in the law include tax credits to incentivize job creation, new construction and revitalization of brownfields and historic properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry.