NJ A3571

County governments, municipal governments, agencies, improvement authorities, economic development entities, and private organizations may join together to form regional economic development partnerships for joint regional economic planning and strategy formulation

Partnerships may include businesses, educational institutions, and nonprofits, and can register with the New Jersey Economic Development Authority to access the authority's economic development resources

Partnership agreements involving public entities under Department of Community Affairs jurisdiction require department approval before certification; all agreements must establish a governing board

Registered partnerships may be eligible for loans and matching grants for marketing, advertising, and promotional programs to support business growth in the region

Counties and municipalities may alternatively enter informal joint economic planning agreements by resolution or ordinance, subject to Local Finance Board approval; the act takes effect seven months after enactment