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Newark, NJ

Newark launches $100M NWK FAM Fund for Black, Latinx small biz owners

"There are vast wealth disparities in our nation, state, and city between white-owned businesses and Black and Latinx-owned businesses, clearly worsened by the pandemic. We need to empower our entrepreneurs of color so that they can compete at increasingly higher levels," Mayor Ras Baraka said during a ceremony announcing the imitative. "The Newark 40 Acres and a Mule Fund will bring pride and prosperity to our city as a whole and to our Black and Latinx business community in particular.”

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Paradigm shift

On Sept. 10, Gov. Phil Murphy signed a bill establishing “Juneteenth” as a state holiday. That means beginning next year government offices will close, save for essential services such as the state police. And, many businesses said they'll be following suit.

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Gov. Phil Murphy delivers his revised Fiscal Year 2021 Budget Address at SHI stadium at Rutgers University in Piscataway on Aug. 25, 2020.

Smooth operators

The budget moved through the statehouse at breakneck speed after its introduction on the evening Sept. 21—just over a week before the deadline. Included: $4.5 billion of borrowing, which the governor can draw upon without voter approval thanks to powers the state constitution grants him “for purposes of war, or to repel invasion, or to suppress insurrection or to meet an emergency caused by disaster or act of God.”

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Gov. Phil Murphy crosses the field at SHI stadium at Rutgers University in Piscataway where he delivered his revised Fiscal Year 2021 Budget Address on Aug. 25, 2020.

Murphy pledges to sign $32.7B budget ‘as is’

Gov. Phil Murphy said Friday that he would sign the $32.7 billion, nine-month state budget “as is” and not veto any items in the face of claims from critics that the plan including hundreds of millions of dollars in unnecessary projects. Both the Assembly and state Senate approved the spending bill and an assortment of ...

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