One of the first institutions in the U.S. to embrace economic development as a key objective, the Newark-based New Jersey Institute for Technology (NJIT) runs several centers that provide technical assistance to small and medium-sized local businesses. Established in 1988, NJIT’s Enterprise Development Center is now the state’s largest high-technology business incubator, supporting 90 high-tech and life-science companies. NJIT’s Procurement Technical Assistance Center (PTAC) provides free technical assistance to small New Jersey businesses aiming to sell to government agencies. PTAC’s assistance is credited with helping state businesses receive over $2.6 billion in government contracts since 1986.
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