On January 5, Governor Phil Murphy signed into law A5728/S4485, establishing the New Jersey Innovation Authority (NJIA). The legislation codifies the New Jersey State Office of Innovation (OOI) as an Authority within the Department of the Treasury.

New Jersey is the first state in the nation to formally enshrine a state innovation office into law, which has helped the state modernize services for residents, businesses, and other New Jersey institutions.

The Chamber of Commerce Southern New Jersey was proud to support this legislation. Through initiatives such as Business.NJ.Gov, the OOI has helped more than 65,000 entrepreneurs start their businesses more quickly, contributing an estimated $167 million to New Jersey’s economy in 2024 alone.

To read the Governor’s press release, click here.