Legislation sponsored by State Sen. Jim Beach that would require the New Jersey Economic Development Authority to administer a veteran-owned business set-aside program was cleared by the full Senate.
The bill, S-2314, also sponsored by State Sen. Christopher Connors, would establish a goal that contracting agencies set aside at least three percent of their contracts for veteran-owned businesses. A “veteran-owned business” would be defined as a business that has its principal place of business in the State; is independently owned and operated; and at least 51 percent of the business is owned and controlled by persons who are veterans.
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The legislation now heads to the Governor’s desk.
See this week’s print edition of The Sun for more details.
