State Assembly Approves Loan Program for N.J. Vineyards, Wineries

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NEW JERSEY -

A bill that would establish a loan program for New Jersey wineries has been approved and will now make its way to Governor Phil Murphy's desk.

On Thursday, January 31st, the State Assembly approved legislation that aims to help the Garden State's growing wine industry create jobs and economic development.

The bill directs the New Jersey Economic Development Authority to establish a loan program and application process for the purpose of providing loans to eligible vineyards or wineries to pay for qualified capital expenses, which include improving or purchasing land, and acquiring or modernizing infrastructure, machinery, and equipment.

The bill now makes its what way to Murphy for his final approval.

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