TRENTON – Legislation sponsored by Senator Fred H. Madden (D-Camden, Gloucester) that would establish the “New Jersey Closing Fund” to help spur economic development in the state was approved today by the Senate Budget and Appropriations Committee. The bill was one of several job creation and economic growth measures passed by the committee today.
“Far too many of our fellow New Jerseyans are either unemployed or underemployed, and our business climate must improve,” said Senator Madden. “The creation of the ‘New Jersey Closing Fund’ will help spur both job creation and economic growth. It will create a friendly business climate in the state and encourage businesses to come here and stay here. This measure, along with the various additional economic growth bills going through the Legislature, will go a long way towards getting New Jersey back on the right track.”