Establishes Downtown Economic Growth Program to encourage business development in certain small municipalities.

This bill establishes the Downtown Economic Growth Program to provide financial support to businesses in designated downtown areas of eligible small New Jersey municipalities. It targets towns with under 11,000 residents that are county seats, contain federal opportunity zones, or are over 70% developed. The program offers loans, tax credits, and technical assistance to area businesses operating in these designated zones, requiring businesses to employ at least 25% of their full-time staff as residents of the municipality. The initiative aims to address economic development barriers in small towns that currently qualify for state assistance programs.