Business Report: Small business grants, companies divided on remote work, NJ residents’ bigger tax bills

NJ Economic Development Authority has reopened pre-registration for Phase 4 of its Small Business Emergency Grant Program

Companies looking to apply for grants from the state can now pre-register. The New Jersey Economic Development Authority reopened pre-registration Wednesday morning for Phase 4 of its Small Business Emergency Grant Program. Small-business owners and nonprofits that haven’t applied previously are able to pre-register for grants of up to $20,000. They will then formally apply for the grants in July. The state has $200 million available for distribution under this funding round.

Gov. Phil Murphy is rescinding an executive order requiring businesses to accommodate remote work, giving companies greater flexibility to bring employees back to the office. A new survey finds New Jersey companies are divided on remote work, according to Nicole Sandelier, executive director of Focus NJ. They conducted the survey with Brother International in April. It also found companies had to spend an average of $34,000 on new technologies during the pandemic.

You won’t believe how much you’ll pay in taxes over your lifetime. New Jersey residents will pay a grand total of $931,698, according to a new study from Self, a financial technology company — nearly twice what the average American pays; that covers everything — property taxes, income taxes and sales taxes. The survey was highlighted in the Wall Street Journal.

A mega merger Wednesday involving Amazon has the company moving further into the entertainment industry by purchasing MGM Studios for $8.45 billion.

WATCH: Business Report: Casino profits improve, new Lockheed Martin jobs, PSE&G’s new president

MORE: Business Report: COVID-19 relief funds, push to reopen unemployment offices, rise in NJ jobless claims

We’re in this together
For a better-informed future. Support our nonprofit newsroom.
Donate to NJ Spotlight