NEWTON, NJ: The Town of Newton will be joining forces with the New Jersey Economic Development Authority (NJEDA) and Fairleigh Dickenson University (FDU) to pursue the future establishment of Entrepreneurial Zones (EZone) within town and throughout the state to help local small businesses expand, succeed, and create more private sector jobs.
Recently, Governor Murphy and the legislature created an Entrepreneur Zone Working Group chaired by Dr. Dale Caldwell, Executive Director of the Rothman Institute of Innovation and Entrepreneurship at FDU focused on recommending ways that State government can more directly support the creation and success of EZones in municipalities around the state.
In Newton, the Town Councilmembers Matthew Dickson, Sandra Lee Diglio and then-Councilmember Helen Le Frois were closely collaborating with local employers including Thorlabs, Atlantic Health System, and Planet Networks to leverage their expertise, inspire with, and encourage budding entrepreneurs achieve success and access all needed resources such as grants, loans, professional assistance, and guidance in developing marketing and business plans, sales goals, and more.
Councilmembers remain particularly focused on facilitating relationship and contact building among women-owned businesses (WBE) and minority-owned businesses (MBE) enabling them to identify and achieve commerce and contractual opportunities.
An EZone is a geographically designated area within a municipality that houses a group of existing and start-up small businesses. Where practically possible, a Small Business Development Center (SBDC) consultant would serve as an EZone coordinator.
Historically, previously established “Enterprise” and “Opportunity Zones” are focused on geographic locations and entrepreneurs acting independently. While these programs help financially strong businesses, they are not as responsive to the needs and demands of new or struggling businesses.
Unlike Enterprise and Opportunity Zones, the EZone initiative would be a collaborative and supportive small business ecosystem specifically designed to help local enterprises collectively overcome early and challenging obstacles so they can pivot rapidly and grow.
There would be no cost for local communities to start an EZone because the EZone businesses will increase taxable income for the municipality and jobs for local residents. Businesses within the EZone benefit from shared-services and receive mentorship, consulting, education, and access to private investors. These resources allow business innovation and new ideas to take shape while operating in a more efficient and collaborative business environment.
The EZone would provide entrepreneurs with essential free or low-cost training services. In addition, participating businesses will receive essential consulting that includes document digitization, business plan creation, marketing guidance, sales training, manufacturing assistance, technology development, lending assistance, exporting and importing support, disaster recovery assistance, procurement guidance, contracting aid, social media support, and market research assistance.
A Newton EZone is another example of experienced leadership leveraging knowledge and partnerships to create initiatives to support small businesses, entrepreneurship, and smart growth within the Town.
ABOUT NEWTON FIRST: Sandra Lee Diglio, Matthew Dickson and Helen Le Frois are running on the “Newton First” team for Newton Town Council. The “Newton First” slate offers residents community-focused professionals with more than 50 years’ experience in various volunteer, professional and municipal positions. Diglio, Dickson and Le Frois are the most accomplished leaders in planning, management, and decision-making to ensure continued results that will improve the quality-of-life in Newton.
Residents can follow the “Newton First” team on:
Website //newtonfirst2022.wixsite.com/my-site
Facebook @Diglio Dickson & Le Frois for Newton Town Council
Instagram @diglio_dickson_and_lefrois
Email: [email protected]
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