Establishes programs in EDA to support New Jersey-based start-up businesses; small businesses, and medium-sized businesses adopting artificial intelligence capabilities; appropriates $175.5 million.

This bill creates three programs through New Jersey's Economic Development Authority to support AI adoption by local businesses, appropriating $175.5 million total. It provides grants up to $500,000 for AI innovation hubs, low-interest loans up to $1 million for business expansion, and targeted grants for research, expansion, and job creation purposes with specific minimum and maximum amounts. The programs require businesses to demonstrate job creation plans and submit annual reports on outcomes, including jobs created and economic impact. The bill also establishes a consultancy program to help businesses implement AI technologies, with $500,000 allocated for this service.