Establishes Main Street Economic Growth Program to encourage business development in small, highly developed municipalities.

This bill establishes the Main Street Economic Growth Program to support business development in small New Jersey municipalities with populations under 11,000 that are over 70% developed according to 2012 land use data. The New Jersey Economic Development Authority will administer the program, providing tax credits equal to 15% of employee compensation expenses for qualifying businesses, along with loans, loan guarantees, and technical assistance through a dedicated Main Street Economic Growth Assistance Fund. Municipalities must designate specific Main Street areas through local ordinances that outline economic development plans and policies. Businesses must meet employment criteria to qualify for tax credits and other assistance, with tax credits applicable to corporation business tax and gross income tax. The program requires annual reporting to the Governor and Legislature on participation, job creation, and financial assistance provided.