Grow N.J. Recipients Officially Allowed to Suspend, Adjust — or Even Terminate — Their Awards

As seen in this article, “Companies that have been recipients of Grow New Jersey awards are now able to suspend their awards, adjust them — or even terminate them, thanks to recommendations approved Wednesday by the New Jersey Economic Development Authority board of directors.”

The article later continues, “Ted Zangari, the chair of the real estate practice at Sills Cummis & Gross P.C., said the accommodations may help both businesses and the state as a whole.

“‘The NJEDA board is to be commended for giving businesses that chose New Jersey a flexible range of COVID relief options,’ he said. ‘If past economic downturns are any guide, many of the companies that are now being forced to prune their headcount will come back bigger and healthier when the economy springs back to life.’’’