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Program NameEconomic Development TypeEligible RecipientsProgram ProviderProgram DescriptionAdditional Information
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Affordable Housing Trust Fund - Innovation Projects 2022Real Estate DevelopmentVarious public and private entitiesNew Jersey Department of Community AffairsThis fund will provide financing for innovative projects, as well as funds for studies, plans and technical services for the development of affordable housing.https://www.nj.gov/dca/divisions/dhcr/offices/docs/AHTF_Program_Guidelines.pdf
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Angel Investor Tax Credit ProgramTax Credit, Access to Capital for Strategic IndustriesInvestors, for profit life science and tech businessesNew Jersey Economic Development AuthorityAll investors that invest in a qualifying NJ emerging technology business may benefit from a tax credit through the Angel Investor Tax Credit Program.Angel Investor Tax Credit Program - NJEDA
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Aspire ProgramReal Estate DevelopmentReal estate developersNew Jersey Economic Development AuthorityAspire is a gap financing tool to support commercial, mixed use, and residential real estate development projects that replaces the Economic Redevelopment and Growth Grant (ERG).https://www.njeda.com/aspire/
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Bond FinancingManufacturing, Public InfrastructureVarious public and private entitiesNew Jersey Economic Development AuthorityLong-term financing is available to manufacturing companies, 501(c)(3) not-for-profit organizations, or exempt facilities in New Jersey under the Bond Financing Program.Bond Financing - NJEDA
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Brownfields Impact FundReal Estate DevelopmentReal estate developersNew Jersey Economic Development AuthorityUnder the Brownfields Impact Fund, the NJEDA will make low-interest loans available to for profit organizations as well as low-interest loans and grant funding available to public sector and non-profit organizations.Brownfields Impact Fund - NJEDA
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Digital Media Tax Credit ProgramEntertainmentFor profit businessesNew Jersey Economic Development AuthorityProvides a transferable credit against the corporation business tax and the gross income tax for qualified expenses incurred for the production of certain digital media content in New Jersey.ÂFilm and Digital Media Tax Credit Program - NJEDA
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Direct LoansAccess to CapitalFor profit and non profit entitiesNew Jersey Economic Development AuthorityNew Jersey businesses in need of financing and committed to job creation/retention may be eligible for direct loans through the Economic Development Authority when conventional financing is not available.Direct Loans - NJEDA
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Economic Recovery Tax CreditTax Credit in "Qualified Municipality Open for Business Incentive"For profit entitiesNew Jersey Division of TaxationA taxpayer that is engaged in the conduct of business with in a qualified municipality may apply to receive a tax credit against the amount of tax otherwise imposed under the Corporation Business Tax Act equal to: $2,500 for each new full-time position at that location in credit year one and $1,250 for each new full-time position at that location in credit year two.https://www.state.nj.us/treasury/taxation/cbt-creditlist.shtml
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Edison Innovation FundAccess to Capital for Strategic IndustriesFor profit life science and tech businessesNew Jersey Economic Development AuthorityThe Edison Innovation Fund is a group of financial incentive vehicles brought together for the purpose of providing convertible debt financing to New Jersey's early-stage life sciences or technology companies that have the potential for commercial success.https://www.njeda.com/edisoninnovation/
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Emerge ProgramGeneral Economic DevelopmentFor profit entitiesNew Jersey Economic Development AuthorityThe Emerge Program, created under the Economic Recovery Act (ERA) of 2020, encourages economic development in Governor Murphy’s priority sectors and in targeted communities across the New Jersey. The program provides per-job tax credits to projects that invest private capital into the state and create new good-paying jobs (or retain a large number of good-paying jobs).Emerge Program (NEW) - NJEDA
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Employer Partnership ProgramWorkforce DevelopmentFor profit and non profit entitiesNew Jersey Department of Labor and Workforce DevelopmentThe Employer Partnership Program helps you grow your business by allowing you to train and hire individuals tailored to your specific business needs.Âhttps://www.nj.gov/labor/career-services/education-training/training/
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Environmental Opportunity Zones (EOZ)Real Estate DevelopmentReal estate developersNew Jersey Division of TaxationThe purpose of the Environmental Opportunity Zone Property Tax Exemption (EOZ) exemption is to encourage the remediation, revitalization and redevelopment of certain contaminated property which has been vacant or underutilized. The exemption requires a financial agreement, as per authorizing ordinance, between you and the municipality.NJ Division of Taxation - Corporation Business Tax Credits and Incentives (state.nj.us)
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Small Business Lease GrantReal Estate DevelopmentFor profit and non profit entitiesNew Jersey Economic Development AuthorityThe Small Business Lease Assistance Program offers reimbursement of a percentage of annual lease payments to for profit businesses and non-profit organizations in eligible areas that plan to lease between 500 – 5,000 s.f. of new or additional market-rate, first-floor office, industrial or retail space for a minimum 5-year term.Small Business Lease Grant - NJEDA
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Hazardous Discharge Site Remediation Fund (HDSRF)Real Estate DevelopmentVarious public and private entitiesNew Jersey Department of Environmental ProtectionBusinesses operating in New Jersey, individuals, or municipalities that are required to, or volunteered to, perform remediation and/or cleanup of contaminated and underutilized sites may be eligible to secure financing through loans and/or grants under the Hazardous Discharge Site Remediation Fund (HDSRF).NJDEP SRP - Financial Assistance: Hazardous Discharge Site Remediation Fund (HDSRF)
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Historic Site Property Tax ExemptionReal Estate DevelopmentNon profit entitiesNew Jersey Division of TaxationCertain buildings owned by non-profit organizations, certified as an historic site, may be eligible for a property tax exemption.ÂNJ Division of Taxation - Local Property Tax
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Loans to Lenders ProgramAccess to CapitalCDFI'sNew Jersey Economic Development AuthorityThe Loans to Lenders Program makes capital available to financial intermediary organizations who can effectively reach small businesses in local markets.CDFI Loan to Lender Program - NJEDA
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Main Street Micro Business Loan ProgramAccess to CapitalFor profit and non profit entitiesNew Jersey Economic Development AuthorityThe Main Street Micro Business Loan Program makes financing of up to $50,000 available to businesses with annual revenues in the most current fiscal year of no greater than $1,500,000, and 10 full-time employees or less at time of application.ÂMain Street Micro Business Loan - NJEDA
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Manufacturing Equipment and Employment Investment Tax CreditManufacturing Business Development, Job CreationFor profit manufacturing businessesNew Jersey Division of TaxationThe Manufacturing Equipment portion is limited to 2% (4% if applicable) of the investment credit base of qualified equipment placed in service in the tax year, up to a maximum credit for the tax year of $1,000,000.NJ Division of Taxation - Corporation Business Tax Credits and Incentives (state.nj.us)
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Municipal Landfill Closure and Remediation Reimbursement ProgramReal Estate DevelopmentReal estate developersMultiple agencies, including NJEDA, NJDEP, and TaxationEligible developers seeking financial assistance in the closure, remediation and redevelopment of municipal landfill sites in New Jersey may qualify for reimbursement of 75% of the closure or cleanup costs associated with the remediation and redevelopment of a municipal solid waste landfill.MLS-100 - Municipal Landfill Site Closure, Remediation and Redevelopment Act (nj.gov)
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Natural Gas Sales & Use Tax Exemption (Salem County)Manufacturing Business DevelopmentFor profit manufacturing businesses in Salem CountyNew Jersey Economic Development AuthoritySalem County only - The program provides an energy sales tax exemption for the retail sales of electricity and natural gas and their transport to manufacturing businesses in UEZ areas.Salem County Energy Sales Tax Exemption - NJEDA
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Neighborhood Revitalization Tax Credit ProgramReal Estate DevelopmentFor profit businesses, non-profit real estate developersNew Jersey Department of Community AffairsThe Neighborhood Revitalization Tax Credit Program (NRTC) provides business entities up to a 100 percent tax credit for funds provided to nonprofit entities carrying out comprehensive revitalization plans.NJ Department of Community Affairs
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New Jersey AccelerateStrategic Industry Business DevelopmentBusiness accelerators, accelerator graduatesNew Jersey Economic Development AuthorityNew Jersey Accelerate encourages the participation of New Jersey Entrepreneurs in high-quality accelerator programs, which increase the growing young, innovative companies in the state.NJ Accelerate - NJEDA
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New Jersey Asset Activation Planning GrantReal Estate DevelopmentVarious public and private entitiesNew Jersey Economic Development AuthorityThe New Jersey Asset Activation Planning Grant Program will provide grants of up to $50,000 directly to grantees for pre-development planning that will demonstrate viability of projects that activate under-utilized public assets that benefit their communities and the regional economy.New Jersey Asset Activation Planning Grant - NJEDA
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New Jersey Innovation Evergreen Fund (NJIEF)Tax Credit, Strategic Industry Business DevelopmentVenture capital firms, private businesses in strategic industriesNew Jersey Economic Development AuthorityThe New Jersey Innovation Evergreen Fund (NJIEF) is a partnership with the private sector that will raise and invest funds in New Jersey-based companies to address New Jersey’s shortfalls in venture capital funding and create the conditions necessary for entrepreneurs to succeed.NJ Innovation Evergreen Fund​ (NEW) - NJEDA
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New Jobs Investment Tax CreditJob Creation, Business DevelopmentFor profit businessesNew Jersey Division of TaxationA credit is allowed against the corporation business tax to taxpayers making qualified investments in new or expanded business facilities that result in new jobs, provided the number and compensation of the new jobs meet minimum requirements.NJ Division of Taxation - Corporation Business Tax Credits and Incentives (state.nj.us)
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Pre-Apprenticeship in Career Education (PACE) ProgramWorkforce DevelopmentVarious public and private entitiesNew Jersey Department of Labor and Workforce DevelopmentThe purpose of the PACE Program is to prepare individuals to enter and succeed in Registered Apprenticeship programs. These pre-apprenticeship programs have a documented partnership with at least one Registered Apprenticeship program sponsor and together, they expand the participant's career pathway opportunities with industry-based training coupled with classroom instruction. The program will drive economic development through skills and educational attainment and create pathways to better-paying careers and advanced credentials.https://www.nj.gov/labor/forms_pdfs/lwdhome/press/2021/FY21_001_PACENGO.pdf
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Premier CDFI ProgramAccess to CapitalCDFI'sNew Jersey Economic Development AuthorityThe New Jersey Economic Development Authority partners with CDFIs to overcome the financial obstacles that can stall the growth and expansion of New Jersey-based businesses through the Premier Lender Program.Premier Lender Program - NJEDA
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Premier Lender ProgramAccess to CapitalFor profit businesses, home based ineligibleNew Jersey Economic Development AuthorityThe New Jersey Economic Development Authority partners with banks to overcome the financial obstacles that can stall the growth and expansion of New Jersey-based businesses through the Premier Lender Program.Premier CDFI Program - NJEDA
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Preserve New Jersey Historic Preservation FundReal Estate Development, Tourism DevelopmentVarious public and private entitiesNew Jersey Department of Community AffairsThe Preserve New Jersey Historic Preservation Fund was established by legislation in 2016 to provide an annual source of matching grants from the state’s corporate business tax for historic preservation projects. The Preserve New Jersey Fund continues the work of the Garden State Historic Preservation Trust Fund (2000-2012) and the Historic Preservation Bond Program (1990-1997). Since 1990, more than $145 million in matching grants has been awarded to worthy historic preservation construction and planning projects throughout the state.Overview (nj.gov)
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Redevelopment Authority Project Tax CreditTax Credit, Job CreationFor profit businessesNew Jersey Division of TaxationA business subject to the corporation business tax and conducted at a location within a project associated with the New Jersey Urban Development Corporation is entitled to a credit against the entire net income component of the tax for each new employee who lives in the same residence as their place of work.NJ Division of Taxation - Corporation Business Tax Credits and Incentives (state.nj.us)
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Sales and Use Tax Exemption (STX) ProgramTax CreditFor profit businessesNew Jersey Economic Development AuthorityA company with 1,000 or more employees that needs to make purchases for construction and renovation of a new business location may be eligible for a sales tax exemption certificate for purchases of machinery, equipment, furniture and furnishings, fixtures and building materials (other than tools and supplies) for placement at the project location until the new facility is functional.Sales and Use Tax Exemption Program - NJEDA
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Small Business FundAccess to CapitalFor profit businessesNew Jersey Economic Development AuthorityAn expedited approval process helps the Small Business Fund program provide below-market rate financing to small, minority-owned or women-owned businesses and not-for-profit corporations through direct loans or guarantees, with the choice of a variable or fixed interest rate.Small Business Fund - NJEDA
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Small Business Improvement GrantAccess to CapitalFor profit businessesNew Jersey Economic Development AuthorityThe Small Business Improvement Grant offers reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures and equipment.Small Business Improvement Grant - NJEDA
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Technology Business Tax Certificate Transfer ProgramTechnology, Life SciencesFor profit tech and biotech businessesNew Jersey Economic Development AuthorityThe Technology Business Tax Certificate Transfer Program enables qualified, unprofitable New Jersey-based technology and biotechnology companies with fewer than 225 employees to sell a percentage of net operating losses (NOL) and research and development (R&D) tax credits to unrelated profitable corporations.ÂTechnology Business Tax Certificate Transfer (NOL) Program - NJEDA
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Upskill: New Jersey Incumbent Worker Training GrantsWorkforce DevelopmentVarious public and private entitiesNew Jersey Department of Labor and Workforce DevelopmentNJ Incumbent Worker Training Grant funds are competitively awarded to New Jersey employers to provide up to 50% cost reimbursement assistance to train incumbent frontline employees to meet the current and future occupational skill requirements of available high wage, middle- skill and high-skill jobs in New Jersey.FY21upskill.pdf (nj.gov)
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Urban Enterprise Zone Program (UEZ)Business DevelopmentFor profit businessesNew Jersey Department of Community AffairsThe Urban Enterprise Zone (UEZ) Program offers participating businesses incentives that encourage business growth and stimulate local economies.NJ Department of Community Affairs
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Venture Capital Investment FundTechnology, Life SciencesVenture capital firmsNew Jersey Economic Development AuthorityEquity fund investments focus on early-stage investment funds and include funds that invest in companies with less than $3 million in annual revenues, a traditional minimum threshold for equity investments.Venture Fund Investments - NJEDA
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Women and Minority Groups in Construction Trades ProgramWorkforce DevelopmentVarious public and private entitiesNew Jersey Department of Labor and Workforce DevelopmentThe Women and Minority Groups in Construction Trades grant will assist in providing greater employment opportunities for females and minorities, residing in New Jersey, by providing pre-apprenticeship training, workforce readiness/employability, and a structured work experience which will emphasize vocational-based training for entry-level skills in the construction trades.fy21_002_wmgct.pdf (nj.gov)
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