NJBIA's Ray Cantor shared insights with NJBIZ on how the $2.2 trillion economic stimulus package will help New Jersey businesses retain existing employees after the COVID-19 pandemic caused businesses to close. They Paycheck Protection Program and the emergency unemployment assistance provisions will help small businesses, which employ 49.8% of all New Jersey employees.
Cantor told reporter David Hutter the goal of one provision in the package, the Paycheck Protection Program, is to keep people on the payroll until the health crisis is over. "If I (as a business owner) let employees go, I lose the ability to get loan forgiveness" under the program, Cantor explained.
