Activity Report: Campaign Spending Soar, House Price Trends, Entrepreneur Fund | Video


Spending in this year’s gubernatorial election has now exceeded $ 46 million with a blitz of activity in the past two and a half weeks. New figures from the Election Law Enforcement Commission show that until Oct. 19, Gov. Phil Murphy had raised $ 16 million against $ 13 million for Jack Ciattarelli, and Murphy has a stash of cash on hand . ELEC claims that last week alone, independent groups spent more than $ 7.4 million.

There is a downturn in the hot New Jersey real estate market. In September, there was a drop in the number of home sales closings, according to New Jersey realtors. Closed sales of single-family homes are down 17.5%. Closed sales of townhouses and condos also declined. But overall sales are still up more than 13% since the start of this year and home prices continue to rise. The median selling price of a single-family home rose again last month, to $ 440,000.

The New Jersey Institute of Technology will provide seed money to entrepreneurs in the NJIT community. He is launching the NJIT Venture Fund, which will provide $ 75,000 in seed money to those working to start a business. The university is making a ten-year funding commitment of $ 6.75 million, funded by the NJIT endowment. This is the first time that NJIT will directly fund start-up companies.

Businesses continue to report supply chain shortages impacting their finances. Toymaker Hasbro says he recently missed $ 100 million in orders because he couldn’t deliver the products. Hasbro says supply chain issues will impact holiday sales, but rival Toymaker Mattel is more optimistic about the holiday season, saying it has been successful in resolving its problems with the holiday season. Supply Chain.

A historic New Jersey theater that closed during the pandemic gets a second act. The Rialto Theater in Westfield was purchased by a non-profit group. The Westfield Arts Collective plans to restore and then reopen the theater for film, theatrical, artistic and literary events. The Rialto has existed since 1922.

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