(CHERRY HILL)—Furthering his commitment to
increase the number of minority and women owned businesses in
the State, Governor James E. McGreevey signed S-75 into law at
the 21st annual Black Issues Convention.
“I am committed to making sure all New
Jersey businesses can participate in state contracts,” said
McGreevey. “The future of our State depends upon a
strong partnership between government and the business
community. The role of New Jersey’s minority-owned
businesses will be critical to our success in the new
economy. We are working closely with minority and women
business owners to provide support and assistance through a
number of programs and agencies.”
The new legislation, sponsored by Senator
Ronald L. Rice, Assemblyman Upendra J. Chivukula and
Assemblyman Willis Edwards, will reduce the documentation
requirements that a first time applicant must provide to be
qualified for certification as a minority or woman owned
business in the State of New Jersey. The legislation
also seeks to promote participation of minority and woman
owned businesses in a number of business assistance programs
and services for certified businesses.
“The signing of this bill today is a
victory for minorities and women who own businesses in the
Garden State and is a victory for State Government as a
whole,” said Rice (D-Essex), the Democratic Chairman of the
Senate Community and Urban Affairs Committee. “When the
program to aid minority and women business owners was first
brought into the State, the intention was to help these
business-owners be competitive in a white, male-dominated
marketplace. Now, by easing the documentation required
to apply for the program, we will increase participation and
help even more businesses succeed in New Jersey.”
“The state encourages women- and
minority-business owners to seek certification and participate
in state start-up programs,” said Chivukula (D-Middlesex,
Somerset). “This new law will make the current
application process for state programs more
user-friendly.”
“It is essential that women-and
minority-owned businesses receive state support in their
entrepreneurial efforts,” said Edwards (D-Essex). “This
measure ensures that the dream of owning a business will not
be stifled by bureaucratic red-tape.”
The Governor also signed an Executive
Order, which increases small business set-asides from 15% to
25%. Changes have also been made in categorizing small
businesses to focus on gross revenue, so that companies are
bidding against their peers, not larger companies.
Secretary of Commerce, William D. Watley, has automatically
re-certified all minority businesses as small businesses.
Today’s announcement
compliments the Governor’s aggressive push to create new jobs
and business incentives. The Governor is strengthening our
economy by investing in job creation programs, like the
enhanced BEIP he signed into law, and by focusing on training
our workforce to compete in the new economy. Last month,
the Governor unveiled his aggressive goals for job creation
and economic strength, to be reached within the next five
years: Create 200,000 new jobs; Train 150,000 workers for the
jobs of tomorrow; Relocate or expand 500 businesses in New
Jersey; Help 300,000 businesses get started; Attract $6
Billion in new public/private investments.
Already the Governor’s fiscally responsible
investments, like providing billions for infrastructure
improvements and school construction, are paying off.
While over 437,000 jobs across the country have been lost this
year, New Jersey has created almost 20,500 jobs.
