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Bill

A 2358

Requires EDA to create needs-matching website for eligible entities.

2024-2025 Regular Session Introduced by Clinton Calabrese and 5 co-sponsors

Requires the NJ EDA to launch a needs-matching website for eligible innovators to post needs (locations, equipment, labor) and connect with suppliers, plus a funding sources list.

Introduced in the Assembly, Referred to Assembly Science, Innovation and Technology Committee
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Bill Summary · A 2358

Summary: Assembly Bill A 2358 — Needs-Matching Website for Eligible Entities

Overview

  • Bill Number: A 2358
  • Title/Purpose: Requires the New Jersey Economic Development Authority (EDA) to create a needs-matching website to connect eligible entities with suppliers, locations, labor, and other assets needed for innovation projects. The bill also requires the EDA to provide information on public and private funding sources and investment opportunities.
  • Status: Introduced in the Assembly and referred to the Assembly Science, Innovation and Technology Committee.
  • Introduced: January 16, 2025
  • Sponsor: Simcha Eichenstein (primary)

What the bill would do

  • Mandate the EDA to design, implement, maintain, and publicly operate a needs-matching website aimed at entities engaged in innovation within New Jersey.
  • The website is intended to facilitate matching between an eligible entity’s advertised needs (e.g., physical locations, equipment, labor, other assets) and potential suppliers or providers of those assets.
  • The EDA must also compile and maintain a list of funding sources and investment opportunities (including State and federal grant programs) that may be appropriate for eligible entities.
  • The act would take effect immediately upon enactment.

Key provisions and changes

  • Scope of eligible entities and industries: The site must serve entities doing business in at least one of these sectors:
    • Advanced computing
    • Advanced materials
    • Biotechnology
    • Electronic device technology
    • Information technology
    • Life sciences
    • Medical device technology
    • Mobile communications technology
    • Renewable energy technology
  • Participants: The website must be accessible to a broad set of eligible participants, including but not limited to:
    • Businesses
    • Real estate professionals
    • Medical institutions
    • Research facilities
    • Non-profit organizations
    • Professional associations
    • Higher education institutions
    • Investors
  • Functionality: Eligible entities can create, post, and search for needs, and communicate with suppliers to arrange purchase, rental, or other needs-matching arrangements.
  • Assets listed: Advertised needs can include physical locations, equipment, labor, and other assets or services relevant to innovation needs.
  • Funding and investment information: The EDA must provide a centralized list of public and private funding sources and investment opportunities, including State and federal grant programs.
  • Regulatory framework: The EDA must adopt rules and regulations under the Administrative Procedure Act to implement the website, taking into account the special needs of eligible entities.

Affected parties

  • Primary: New Jersey Economic Development Authority (EDA) – responsible for design, implementation, operation, and maintenance of the website.
  • Eligible entities: Businesses and organizations across specified innovation sectors that may benefit from needs-matching and access to funding opportunities.
  • Providers and suppliers: Entities that could fulfill posted needs (locations, equipment, labor, etc.).
  • Public and private funders: State and federal grant programs and potential investors.

Fiscal and method of implementation

  • Estimated fiscal impact (one-time): Up to $75,000 for the design and creation of the website, depending on whether the EDA uses a third-party contractor or handles development in-house.
  • Ongoing costs: Potentially reduced if existing state employees perform maintenance; ongoing maintenance assumed to be handled without significant new personnel if possible.
  • The fiscal note is based on potential contractor costs; savings assumed if in-house development is used and ongoing maintenance is covered by current staff.

Procedural and timeline notes

  • Effective date: Immediate (as stated in the introduced text).
  • Administrative action: Requires the EDA to establish regulations necessary to effectuate the bill's purposes.
  • Legislative path: Introduced in the Assembly; referred to Assembly Science, Innovation and Technology Committee. There are related companion bills in other chambers (e.g., S 5346; S 1056) and a related prior-session A 9547.

Related information

  • Related bills/companions: S 5346 (companion), S 1056 (companion), A 9547 (prior-session).
  • Legislative actions listed: Introduction and committee referrals; current status indicates continuation through the legislative process.

This bill aims to create a centralized, government-supported platform to streamline innovation-focused procurement and funding opportunities for eligible New Jersey entities, potentially accelerating collaboration between innovators and suppliers while increasing visibility to available grants and investment opportunities.

Compiled from official sources — confirm details with the bill’s official record.

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