NJ S2210

Creates the Emerging Technology Urban Grant Program within the New Jersey Economic Development Authority to provide grants covering cloud computing service costs for qualifying technology startups locating in designated urban technology zones

Establishes urban technology zones in Newark, Trenton, Camden, and New Brunswick to attract high-growth emerging technology businesses and create knowledge-based employment

Eligible businesses must employ 100 or fewer full-time employees, commit to maintaining U.S. headquarters in the zone for at least five years, and demonstrate 20% growth in employment or revenue in the preceding 12 months

Grants are capped at $125,000 per quarter for two years, with a maximum of $1,000,000 per business; total program funding not to exceed $80,000,000, distributed evenly across the four zones at $20,000,000 each

Requires the EDA to develop marketing programs with local officials, negotiate additional cloud service discounts with providers, and report on program performance and economic impact within two years