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.
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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.
The legislation now heads to the Governor’s desk.
See this week’s print edition of The Sun for more details.
