Provides incentives for certain businesses associated with military installations.

This bill provides incentives for businesses located within a five-mile radius of New Jersey military installations that conduct innovative projects involving science, technology, engineering, math, or research and development (STEM/R&D) related to military operations. It amends the small business loan program to offer reduced interest rates (up to 25 basis points lower) for eligible military support businesses, and expands the Grow New Jersey Assistance Program to include military installation areas as qualified incentive zones. Businesses qualifying under this bill can receive a $500 per employee tax credit bonus for projects related to military installations and benefit from streamlined permitting processes. The bill also establishes a dedicated contact person to assist businesses with permit applications for projects near military installations, and repeals a duplicative 2019 provision.