With nearly $26B for NJ businesses, window closes for federal PPP loans
An estimated 8.5 million enterprises nationwide have received funding under the Paycheck Protection Program: The SBA approved 157,405 forgivable loans totaling $17.3 billion in 2020, and 134,362 loans totaling roughly $8 billion in 2021.
Murphy cautions against ‘drunken sailor’ spending with extra cash
The state is looking at a closing balance of $6.3 billion this year thanks to $4 billion of new debt, spending freezes last year, and surges in consumer spending driven by pent-up demand following a year of COVID-19 closures.
After 2 years offline, NJ reopens applications for real estate incentives
The New Jersey Economic Development Authority greenlit a state incentive for residential developers, under one of a dozen programs meant to lift the state out of the COVID-19 recession.
Yes, we’re open
Between the start of Memorial Day weekend through June 4, most of New Jersey’s COVID-19 business restrictions were rolled back for vaccinated people, allowing an almost complete return to pre-pandemic operations. The move was hailed by business groups, who contend that the rules constituted a drag on the state’s economy. But public health experts remain cautious about whether the state is read[...]
Masks, social distancing mandates lifted Friday
The new rules follow an honor system - fully vaccinated patrons do not have to wear a mask while indoors, but those without the vaccine still must wear them.
Applications open for $1.1B corporate tax break program
Gov. Phil Murphy said NJ Emerge, which is meant to incentivize employers to remain in the state or set up shop here, “has become even more important as we begin our recovery from the economic devastation of the COVID-19 pandemic.”
Despite reopenings, Memorial Day travel still not likely to hit pre-COVID levels
About 37 million Americans are expected to travel this holiday weekend, up from 23 million in 2020, according to the American Automobile Association.
State lets businesses pre-register for $200M in upcoming COVID relief
Gov. Phil Murphy and several top state lawmakers announced their intention to approve this latest stimulus round as companies embark on reopenings coming out of 15 months of pandemic closures and restrictions.
Top labor official: ‘Zero evidence’ tying $300 bonuses to labor shortage
Business owners say they’ve struggled to find an adequate workforce as the nation weans off of pandemic closures meant to keep the virus at bay. Those restrictions have been lifted as more than half of the nation gets fully vaccinated.
Murphy lifting mandate on remote work, masks in offices
“We encourage all employers to do the right things for their specific workplaces,” the governor said. “While we are rescinding some requirements, that doesn’t mean we don’t expect you to be flexible and to work with employees — particularly those who are juggling family obligations such as child care.”
Murphy ‘cautiously optimistic’ NJ can reach June vaccine goals
The governor expressed anxiety over whether the state can fully vaccinate 4.7 million adults by June 30. "It’s going to be close. I think we got a real shot,” he said during a radio appearance on WFAN’s “Moose and Maggie Show.”
Jersey City presses state for fix to local business payroll tax
The city has little in the way of its ability to enforce the levy, or to gauge who is paying, said Jersey City Mayor Steven Fulop. The solution, he said, would instead be for the state to collect those taxes and send them directly to the city.