Business Report: New funding for businesses, aid for undocumented workers, tourism numbers

The state will allocate another $235 million in aid to small businesses and nonprofits

The state is going to allocate more funds to provide emergency grants to businesses. Another $235 million in aid will be available to small businesses and nonprofits. About half of that amount will be set aside for microbusinesses — those with five or fewer full-time employees.

Help will also be available for undocumented immigrants and other residents who have been ineligible for federal and state aid programs like the stimulus checks. Under the new Excluded New Jerseyans Fund, those residents can receive a one-time cash payment of up to $2,000 per household for incomes up to $55,000.

New numbers show the economic impact of COVID-19 on New Jersey’s tourism industry. Last year, tourists visiting New Jersey spent over $29 billion, but that represents a drop of 37% compared to the year before. In 2020, 86.4 million people visited the state, a decline of 27% from a record 116 million visitors in 2019. Now that more people are vaccinated against COVID-19 and business restrictions are lifting, state officials are optimistic this season’s numbers will show improvement.

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