Al Titone, SBA New Jersey district director, said the quarter extended the growth trend from the fiscal year ended Sept. 30, 2012, which at $605 million was the third-highest year on record for SBA lending to New Jersey businesses.More than 90 banks and other lenders make SBA loans to New Jersey businesses, with repayment partially ...
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Government
On a small business ‘listening tour,’ Sweeney declares Jersey Shore open for business
“New Jersey’s economy has been stuck, with unemployment remaining nearly unchanged over the last few years,” Sweeney said in a statement. “We have worked on various bills in the Legislature, but we can always do more.”The start of Sweeney’s travels trails Lt. Gov. Kim Guadagno’s “Open for Business” tour, which kicked off on Jan. 7 ...
Read More »Choose New Jersey ad campaign launched at inauguration
“We want people to know that … New Jersey is a state that stands strong in the face of adversity,” Choose New Jersey Inc. President and CEO Tracye McDaniel said in prepared remarks. “Home to 21 Fortune 500 companies, 17 of the top 20 pharmaceutical companies and countless other financial, technology and manufacturing firms, we ...
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Newark taps Lesniak law firm in Prudential case
But the influential lawmaker is dismissing concerns about a possible conflict of interest.On Wednesday night, the Newark Municipal Council was slated to approve a year-long contract with Weiner Lesniak after a bidding process that received 13 proposals, according to council documents. In a separate memo dated Jan. 16, the city’s corporation counsel notes that Newark ...
Read More »Innovators, business leaders discuss how to reduce energy costs in N.J.
“This is not just about the environment, it is also about the economy—we need to keep driving down the cost, and energy is a huge cost factor. We need to come together in New Jersey, where we have very strong companies, very strong organizations,” said Hofmann at the event held at Murray Hill-based Bells Labs, ...
Read More »EDA approves loan program with TD Bank
The board had a relatively light agenda for its first meeting of 2013, following a busy 2012 that saw the agency provide $591 million in financing to 222 projects, creating some 4,600 jobs, according to initial estimates. In new business, the board approved the creation of the “TD Bank New Jersey Advantage Program,” in partnership ...
Read More »Lottery outsourcing bid, looming unemployment surcharge top legislative agenda
At today’s hearing, Assembly Budget Chair Vincent Prieto (D-Secaucus) said “it’s getting a little frustrating” that state Treasurer Andrew P. Sidamon-Eristoff and New Jersey Lottery Executive Director Carole Hedinger declined an invitation to appear before the committee, which ultimately advanced one bill that would require legislative approval of any lottery management bids and another bill ...
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Development backers cheer plan to overhaul incentives
A bill set to be introduced Monday would consolidate five incentive programs into two, according to a report this week in the Wall Street Journal. The Economic Redevelopment and Growth Grant would be kept and modified, while the Grow New Jersey program would be revised to integrate pieces of the Urban Transit Hub tax credit, ...
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UPDATED Hunts Point says no deal reached to stay in N.Y.
“At our board meeting on Tuesday, January 8th, our board voted to reject an offer from the City of New York to modify the current lease extension terms at our location in the Bronx. A Crains.com story from Tuesday afternoon has incorrectly indicated that the co-op has reached a ‘tentative’ agreement with the city in regards ...
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Christie touts N.J.’s strong spirit post-Sandy defends economic record in State of State speech
The governor praised the bipartisan cooperation in Trenton in the wake of Sandy and called on Congressional leaders in Washington to adopt the same spirit and pass a federal aid package for Sandy’s victims. “One thing I hope everyone in America now clearly understands – New Jersey, both Republicans and Democrats, will never stand silent ...
Read More »Senate Dems attack Christie ahead of speech
Senate President Stephen Sweeney (D-West Deptford) and other Democratic leaders held a press conference Monday to highlight what they said were the governor’s economic failures. Sweeney said the unemployment rate remains higher than the national average, cresting at a 35-year high in August, when the rate hit 9.9 percent. The current rate is 9.6 percent.“Despite ...
Read More »Senate committee probes N.J.’s revenue shortfall
As of October, the state was nearly $264 million behind its revenue target, but revenue fell sharply in November due to Sandy, and as of Nov. 30, New Jersey is now $451 million short of its goal.
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