LGBTQ Business Registration proposed in New Jersey to foster Economic Inclusivity

Trenton, NJ: A new piece of legislation has been proposed that would give the New Jersey Department of the Treasury the authority to extend certification to businesses that are owned by LGBTQ+ individuals. This would be similar to the certifications that are already in place for businesses that are owned by women and minority groups.

This effort, which was initially launched by Executive Order No. 295 issued by Governor Murphy in 2022, has now been enacted into law. Within the context of the state’s economy, the bill intends to encourage the economic engagement of LGBTQ+ residents and to develop an environment that is more inclusive.

The state of New Jersey acknowledges the substantial contribution that businesses owned by LGBTQ+ individuals make to the overall economic, civic, and social landscape of the state. Through the formalization of the certification procedure, the state demonstrates its dedication to fostering an inclusive and diverse environment within the business neighborhood.

By obtaining this accreditation, businesses that are owned by LGBTQ+ individuals are able to acquire recognition and support, which contributes to their growth and success. The measure, which is being prepared for introduction during the session of 2024-2025, incorporates modifications resulting from a technical examination in order to guarantee that it would be effectively implemented.