Sponsored by:
Assemblyman P. CHRISTOPHER TULLY
District 38 (Bergen and Passaic)
Assemblywoman CAROL A. MURPHY
District 7 (Burlington)
Assemblyman ROY FREIMAN
District 16 (Hunterdon, Mercer, Middlesex and Somerset)
SYNOPSIS
Requires EDA to create needs-matching website for entities engaged in innovation.
CURRENT VERSION OF TEXT
As introduced.
An Act requiring the New Jersey Economic Development Authority to create a needs-matching website and supplementing Title 34 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. The New Jersey Economic Development Authority shall create, implement, maintain, and make available to private and public entities engaged in innovation in this State a website designed to enable an entity to advertise needs related to physical locations, equipment, labor, and other supplies related to innovation projects, for the purpose of matching those needs with a supplier whose assets or services can fulfill those needs. The authority shall collaborate with the entities listed in subsection b. of this section to develop the website.
b. The website established pursuant to subsection a. of this section shall be designed to facilitate the matching of needs for private and public entities, including, but not limited to, businesses, real estate professionals, medical institutions, research facilities, non-profit organizations, professional associations, higher education institutions, and investors involved with innovation in this State.
c. The website established pursuant to subsection a. of this section shall be designed such that an entity may create, post, and search advertisements for needed supplies and shall facilitate one entity’s communication with another to arrange the purchase, rental, or other like needs-matching agreements. An entity shall be permitted to advertise needs related to physical locations, equipment, labor, and other appropriate assets or services which may pertain to the needs of an entity engaged in innovation.
2. The authority shall make available and maintain, as part of the website established pursuant to section 1 of P.L. , c. (C. ) (pending before the Legislature as this bill), a list of public and private funding sources, including State and federal grant programs, and investment opportunities, which may be appropriate for an entity engaged in innovation in this State.
3. The authority shall adopt, pursuant to the “Administrative Procedure Act,” P.L. 1968, 410 (C.52:14B-1 et seq.), rules and regulations as may be necessary to effectuate the purposes of P.L. , c. (C. ) (pending before the Legislature as this bill). In developing procedures in connection with the design, implementation, and maintenance of the website, the authority shall consider the special needs of entities engaged in innovation.
4. This act shall take effect immediately.
STATEMENT
This bill requires the New Jersey Economic Development Authority (EDA) to create a website for the purpose of matching the needs and supplies of entities engaged in innovation in this State. The EDA is required to make this website available to public and private entities including, but not limited to, businesses, real estate professionals, medical institutions, research facilities, non-profit organizations, professional associations, higher education institutions, and investors.
The website will provide a platform on which an entity engaged in innovation in this State may match its needs with a supplier for physical locations, equipment, labor, and other appropriate assets.
The EDA is also required to provide a list of public and private funding and investment opportunities, including information on State and federal grant programs, which may be appropriate for an entity the website is intended to benefit.