TRENTON, N.J. (January 11, 2022) – The New Jersey Commission on Science, Innovation and Technology (CSIT) announced today that 37 early-stage companies have been awarded a total of $1,075,000 in funding as part of Round 3 of the Direct Financial Assistance component (Phase I&II) of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer Program (STTR). To date, the CSIT has awarded a total of $1.9 million to 66 Garden State companies during the program’s three funding rounds.

Each of these early-stage companies is currently engaged in the federal SBIR and/or STTR programs. The awards will fortify the state’s innovation economy by giving these New Jersey-based businesses the strength and resources they need to be competitive when participating in federal programs.

The federal SBIR and STTR grant programs provide more than $3 billion each year to small businesses in a variety of technology and life sciences areas that propose innovative ideas that meet specific federal research and development (R&D) needs.

This third round of the program awarded $1,075,000 million in grants to 37 New Jersey small businesses in two program components:

  1. Direct funding— awarded $25,000 grants totaling $775,000 to 31 small businesses that have received a federal SBIR/STTR Phase I, Fast-Track or Direct to Phase II award/contract. The grants are intended to help awardees increase intensity of research, strengthen commercialization plans, cover operational expenses, and become more competitive for Phase II funding.
  2. Bridge funding— awarded $50,000 grants totaling $300,000 to six New Jersey small businesses that have successfully completed Phase I and have applied for Phase II of the federal SBIR/STTR program.

“Thanks to the resources from the CSIT SBIR/STTR Direct Financial Assistance Program, New Jersey is taking bold steps to achieve Governor Murphy’s goal of building the most competitive innovation ecosystem in the country,” said CSIT Chairman Gunjan Doshi.

CSIT Executive Director Judith Sheft noted that the number of awardees tripled from the twelve awardees in Round 1 to 37 in Round 3. Furthermore, 11 of the 37 companies have affiliations with four New Jersey research Universities through license agreements for innovative technologies.

“This program is helping to accelerate the growth of innovation-focusedcompanies in New Jersey, and we are thrilled to see small businesses take advantage of these critical resources,” said CSIT Executive Director Judith Sheft. “During this latest round of funding, participating companies were able to leverage the SBIR grant to over $18 million in additional federal funding.”

The awardee’s focus areas fell into the following categories, all of which were identified in Governor Phil Murphy’s economic development strategic plan as high-wage, high growth sectors: technology, life sciences, clean energy, and advanced manufacturing.

“The creativity and diversity of New Jersey’s innovation and technology community combined with the availability of financial resources create a compelling value proposition for savvy entrepreneurs,” said State Senator Paul Sarlo. “Seeing how early-stage companies benefit from programs like the New Jersey SBIR/STTR Direct Financial Assistance Program will help to attract other small businesses to the Garden State.”

Assemblyman Christopher DePhillips also expressed his appreciation for our state’s creative and diverse ecosystem as the foundation for businesses to start, grow, and stay in New Jersey.

“Human capital, a diverse population, proximity to two major markets such as Philadelphia and New York City, and one of the top educational networks in the country are key elements for attracting small businesses to the Garden State,” said Assemblyman Christopher DePhillips. “By aggregating federal and state resources for emerging companies the state presents fertile ground for starting and growing a company.”

Thirty-one companies that have received federal SBIR/STTR Phase I, Fast-Track or Direct to Phase II awards/contracts were each awarded a grant of $25,000. The selected companies include:

  1. 1Huddle Inc (Newark, Essex County)
  2. AG350, Inc. (Princeton, Mercer County)
  3. BioTillion, LLC (Skillman, Somerset County)
  4. Blue Rock Solutions Inc. (Williamstown, Gloucester County)
  5. Celestron Technologies, LLC (Moorestown, Burlington County)
  6. CloudJuncxion, Inc. (Bridgewater, Somerset County)
  7. Culnexin Therapeutics (Princeton Junction, Mercer County)
  8. Dandelion Science Corp (Hoboken, Hudson County)
  9. Fabricated Software Inc. (Cedar Grove, Essex County)
  10. Generation Biotech (Princeton, Mercer County)
  11. HiT Nano, Inc (Bordentown, Burlington County)
  12. Impact Business Information Solutions Inc (Princeton, Mercer County)
  13. InnoSepra, LLC (Middlesex, Middlesex County)
  14. Kathera Bioscience, Inc. (Union, Union County)
  15. Knowledge To Own, Inc. (Springfield, Union County)
  16. Manhattan BioSolutions, LLC (Fort Lee, Bergen County)
  17. Marine Electric Systems, Inc. (South Hackensack, Bergen County)
  18. Mindprint Learning LLC (Princeton, Mercer County)
  19. Misram LLC (Holmdel, Monmouth County)
  20. NanoSepex INC. (Newark, Essex County)
  21. NeuroTechR3, Inc. (Warren, Somerset County)
  22. One World Design and Manufacturing Group (Warren, Somerset County)
  23. Palindrome Technologies (Hazlet, Monmouth County)
  24. Phoresis, Inc. (Princeton, Mercer County)
  25. RadioSight LLC. (Hoboken, Hudson County)
  26. Regenosine, Inc (Jersey City, Hudson County)
  27. Simphotek, Inc (Newark, Essex County)
  28. Speckodyne Corporation (Hamilton, Mercer County)
  29. StemPlant LLC (Camden, Camden County)
  30. TEAM of Care Solutions, LLC (Fort Lee, Bergen County)
  31. Tendo Technologies (Princeton, Mercer County)

Additionally, the following six New Jersey small businesses will each receive $50,000 bridge funding grants, as they have successfully completed Phase I and have applied for Phase II of the federal SBIR/STTR program.

  1. BANC3 (Princeton, Mercer County)
  2. Cell Podium LLC (Newark, Essex County)
  3. Fuceltech Inc DBA Princeton Innotech (West Windsor, Mercer County)
  4. Princeton NuEnergy (Bordentown, Burlington County) 
  5. SubUAS LLC (Hillsborough, Somerset County)
  6. Venarum Medical, LLC (Eatontown, Monmouth County)                                 

In February 2021, the CSIT awarded $450,000 in matching grants to 16 New Jersey small businesses that were engaged in the federal SBIR/STTR program.


About CSIT

In August 2018, Governor Murphy signed legislation re-establishing the former New Jersey Commission on Science and Technology as the CSIT. Comprised of representatives from the public and private sectors, as well as academia, the Commission is tasked with leading the way in promoting the state as a home for academic and technological research, development, and commercialization.

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TRENTON, N.J. (January 4, 2022) – The New Jersey Economic Development Authority (NJEDA) announced today it will hold two listening sessions later this week to solicit feedback on the New Jersey Innovation Evergreen Fund (NJIEF), which is currently under development. Established under the New Jersey Economic Recovery Act of 2020 (ERA), the NJIEF will utilize public and private funds to invest in New Jersey-based companies. The Fund is designed to both address New Jersey’s shortfalls in venture capital funding and create the ecosystem conditions necessary for entrepreneurs to succeed.

As proposed, the NJEDA will raise funds for the NJIEF by auctioning up to $300 million in transferrable tax credits— with an annual cap of $60 million during each of the first five years after program launch—to corporations registered to do business in New Jersey. Auction bids will be evaluated according to price and strategic commitments the bidding company makes to support NJIEF’s portfolio companies and the state’s broader innovation ecosystem, including networking and mentorship opportunities. Details about the NJIEF and the materials that will be presented during the listening sessions can be found at https://www.njeda.gov/program-specific-feedback/.

“Governor Phil Murphy and the Legislature advanced the ERA with the goal of creating programs that prioritize equity and inclusiveness and provide access to resources businesses need to become viable and ultimately succeed,” said NJEDA Chief Executive Officer Tim Sullivan. “The New Jersey Innovation Evergreen Fund is a game-changing element of the Governor’s plan to reclaim our State’s leadership in innovation and these listening sessions will help us launch a program positioned to help foster an unmatched platform for collaboration and innovation.”

Members of the public will be able to provide input during the NJEDA’s public listening sessions, which are scheduled for the following times:

  • Thursday, January 6th, 9:30 a.m. to 11:00 a.m. – Topic: Corporate Tax Auction, Register here.
  • Thursday, January 6th, 2:00 p.m. to 4:00 p.m. – Topic: Venture Capital Investment, Register here.

These virtual discussions will help the NJEDA implement the NJIEF in a way that will recharge New Jersey’s innovation economy.  The first 30 minutes of the Session 1: Corporate Tax Auction, will be an overview of the New Jersey Innovation Fund and the tax credit sale associated with it. The remainder of the time left will be used for questions and feedback from the public. Session 2: Venture Capital Investment will offer a 30 minute presentation on the qualification of venture capital firms and investments, followed by questions and feedback.

Members of the media interested in attending the session or submitting questions are asked to email media@njeda.com.  

In addition to the New Jersey Innovation Evergreen Fund, the ERA creates a suite of programs that includes tax credits to incentivize job creation, new construction, and revitalization of brownfield properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry. The NJEDA will continue to engage the public as new programs and rules are developed.

For more information and to provide written input on the design and implementation of Economic Recovery Act programs, visit https://www.njeda.gov/economicrecoveryact/.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Grant will support development of events showcasing state’s creative and innovation ecosystems

TRENTON, N.J. (December 27, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that it has begun accepting applications today for the NJ Arts and Innovation Festival Challenge Grant. This competitive grant will provide $2 million to a for-profit or nonprofit entity to support the organization and execution of an arts and innovation festival in 2022. The application can be found at https://www.njeda.gov/arts-and-innovation-festival-challenge/.

“From Edison and Sinatra to Bon Jovi and Queen Latifah, New Jersey has a long, rich history rooted in arts and innovation. As we build upon that legacy, we are excited to partner with Governor Phil Murphy to provide $2 million in seed funding for the inaugural NJ Arts and Innovation Festival,” said NJEDA CEO Tim Sullivan. “Convening innovators in the tech space with artists and musicians is central to achieving Governor Murphy’s vision for positioning New Jersey as hub where top talent in all industries can live, work, and play. The NJ Arts and Innovation Festival Challenge Grant will advance an event that showcases New Jersey’s creative culture and attracts visitors, new businesses and top talent to our state.” 

The NJ Arts and Innovation Festival Challenge Grant will award one grant of up to $2 million to support operational costs related to the management, production, and promotion of a festival that incorporates live music and art as well as tech demonstrations, panel discussions with innovation economy leaders, and other activities related to the creative economy and innovation ecosystem. The NJEDA Board approved the creation of this grant at its December 2021 Board meeting. The deadline for applications is January 21, 2022, at 5:00 p.m. EST.

“When it comes to economic growth, innovation and creativity are two sides of the same coin,” said Allison Tratner, Executive Director of the New Jersey State Council on the Arts. “By supporting creators and shining a spotlight on New Jersey’s thriving, diverse arts and culture industry, we not only build more unique, vibrant communities, but we also attract the top talent and companies in other industries that drive long-term economic growth.”

The NJ Arts and Innovation Festival Challenge Grant will provide the funding needed to jumpstart the planning of a world-class festival that brings attention and resources to New Jersey’s creative community and sets the stage for long-term growth.  

The Challenge Grant is open to businesses and nonprofits with demonstrated experience in organizing events of similar scope and scale.

Applicants to the NJ Arts and Innovation Festival Challenge Grant must meet the following eligibility requirements:

  • Registered for business in New Jersey or holding a valid NJ Charitable Registration.
  • Demonstrated experience in organizing and executing at least one (1) event with an attendance of 5,000 or more in the last 7 years.
  • Applicants may add a strategic partner or partners whose experience, knowledge, skills and ability may provide an advantage in the production, management, and/or marketing of the festival.
  • Applicants must include fundraising, diversity and inclusion, security and transportation plans, as well as a local participation program that focuses on host community participation
  • Applicants must be in good standing with New Jersey Department of Labor

Applicants will also need to provide a vision statement that outlines how the festival will help grow New Jersey’s place as a premier live/work/play destination for arts and innovation firms, talent and tourism, as well as fundraising plan to close the gap between the $2 million provided by the Challenge Grant and the total budget for the festival.

More information about the NJ Arts and Innovation Festival Challenge Grant is available at https://www.njeda.gov/arts-and-innovation-festival-challenge/.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram and LinkedIn.

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TRENTON, N.J. (December 13, 2021) – The New Jersey Economic Development Authority (NJEDA) today issued a request for proposals (RFP) for offers to buy an NJEDA-owned, 26-acre property located on Route 1 in North Brunswick, Middlesex County, New Jersey. The RFP can be found here.

“We encourage companies looking to enter, or expand within, New Jersey’s dynamic innovation ecosystem to consider this prime spot between Princeton and Rutgers universities,” NJEDA Chief Executive Officer Tim Sullivan said. “Under Governor Murphy’s leadership, New Jersey is recapturing its role as a leader in innovation and we routinely hear from entrepreneurs about the positive impact locating in the state has on their businesses. Often-cited assets include the state’s top-notch talent pipeline, including the vast pool of scientists and researchers, and easy access to major economic hubs up and down the Northeast Corridor.”

In 2004, NJEDA purchased from DKM Properties approximately 24 acres of vacant land, (Parcel 1), and an approximately 2-acre parcel that includes a retention basin (Parcel 2) on US Route 1 North, North Brunswick.

Since March 31, 2017, NJEDA has received several unsolicited offers and inquiries to purchase the Property. In response to the unsolicited offers, NJEDA has issued an RFP to solicit offers from entities interested in acquiring the Property.

A Proposer may submit an offer to:

  • purchase the Property and receive fee simple title at a closing.
  • ground lease the property, which must include the purchase of the Property at the end of the lease term.

A Proposer also may submit two separate offers: one to purchase the Property and one to ground lease the Property and purchase it at the end of the lease term.

The dates below are provided to interested Proposers for planning purposes only. These are estimated timeline dates and do not represent firm commitment dates by which NJEDA will take action.

A. Key events:

  • Question and Answer Period Ends: January 17, 2022 at 1:00 PM (EST)
  • If required, Addendum with Q&A Responses, estimated: February 1, 2022.
  • Proposals Due: March 16, 2022 at or before 1:00 PM (EST)
  • Estimated Recommendation for Award: May 11, 2022
  • Agreement Execution Date: June 1, 2022

B. Pre-proposal Conference / Site Tour

Prior to submitting an offer, NJEDA strongly recommends that all interested Proposers tour the Property. A Proposer may take an unaccompanied site tour of the Property, at its own risk, between December 13, 2021 and January 17, 2022.

Any questions as a result of the Proposer’s site tour must be presented as required under Section 6c of the RFP.

NJEDA will not provide special consideration after responses to this RFP are opened.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (December 9, 2021) – The New Jersey Economic Development Authority (NJEDA) today released for public feedback a draft rule proposal for the Historic Property Reinvestment Program, as established under the New Jersey Economic Recovery Act of 2020 (ERA). The Historic Property Reinvestment Program is a $50 million competitive tax credit program to leverage the federal historic tax credit program to incentivize transformative rehabilitation projects of identified historic properties.

The program, which is capped at $300 million over six years, focuses on historic preservation as a component of community development. Awards of up to 40 percent of rehabilitation costs are available for qualified properties, up to a maximum of $4 million. Qualified properties in a Government Restricted Municipality or Qualified Incentive track may be eligible for up to 45 percent of rehabilitation costs, up to a maximum of $8 million.  Awards are scored on a competitive basis.

Members of the public are encouraged to review the preliminary rules and submit written feedback through an online form available on the Economic Recovery Act website. The NJEDA will also be hosting two listening sessions for public input on the draft rules.

“Governor Phil Murphy and the Legislature advanced the ERA with the goal of creating programs that prioritize equitable and inclusive development,” said NJEDA Chief Executive Officer Tim Sullivan. “The Historic Property Reinvestment program will do just that by ensuring that iconic New Jersey properties are renewed in a way that respects history while creating assets that support dynamic community development that enriches the lives of local residents.”

Draft Historic Property Reinvestment Program rules are available now for review here. 

Members of the public can also provide input during the NJEDA’s public listening sessions, which are scheduled for the following times:

Members of the media interested in attending the session or submitting questions are asked to email media@njeda.com.  

In addition to the Historic Property Reinvestment Program, the ERA creates a suite of programs that includes tax credits to incentivize job creation, new construction, and revitalization of brownfield properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry. The NJEDA will continue to engage the public as new programs and rules are developed.

For more information and to provide written input on the design and implementation of Economic Recovery Act programs, visit https://www.njeda.gov/economicrecoveryact/.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram and LinkedIn.

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TRENTON, N.J. (December 9, 2021) – The New Jersey Economic Development Authority (NJEDA) has announced the approval of support for the purchase and renovation of Hamilton Square, a 68-unit mill-style, two building apartment community located in the Great Falls Historic District of Paterson.

Yesterday, the NJEDA Board approved Economic Redevelopment and Growth (ERG) tax credits for co-applicants Hamilton Square Urban Renewal LLC and Soldier On Veterans Village VII, LLC (SOVV). The entities intend to purchase and renovate the property, which consists of a three-story brick historic building built in 1814 and a four-story brick building built in 1997. The project, located at 20 & 21 Mill Street, is comprised of a mix of seven one-bedroom units, 54 two-bedroom units, and seven three-bedroom units, and parking spaces for tenants. Seven units within the property will be converted to full Americans with Disabilities Act (ADA) compliance as part of the planned rehabilitation. Fifty units (71 percent) are currently occupied.

SOVV is a subsidiary of Soldier On Inc., a Massachusetts-based nonprofit committed to ending veteran homelessness. Soldier On was organized in 1994 to provide a continuum of programs to ensure that homeless veterans and their families have access to immediate and long-term housing with an array of support services delivered to them where they live. Soldier On will provide veteran referrals and supportive services to the veteran population at Hamilton Square, including securing affordable housing units, when available.

“The decision by Governor Phil Murphy and the Legislature to extend the ERG program is enabling projects that will help communities and residents hit hardest by the pandemic recover while programs created by the ERA take shape,” said NJEDA Chief Executive Officer Tim Sullivan. “This project upholds several of the policy goals established under the ERA, particularly those that uplift our most vulnerable citizens by providing affordable and accessible housing options for veterans, and those with disabilities.”

“Reaching the homeless Veteran population is an enormously difficult task, but a crucial one,” said NJ Dept. of Military and Veterans Affairs Commissioner Brig. Gen. Lisa J. Hou, D.O.  “Our dedicated Veterans Service Officers and the two existing state-run Veterans Havens do incredible work every day toward the goal of ensuring all New Jersey Veterans can access the benefits they have earned. The tremendous efforts of Governor Murphy, the Legislature, the NJEDA, private and public organizations together, affirm steadfast support for those who have served and sacrificed for our great state and nation.”

To support more projects like the Hamilton Square development, Governor Murphy committed an additional $125 million to the Residential ERG program through the New Jersey Economic Recovery Act of 2020 (ERA), a comprehensive package of economic development legislation to address the ongoing economic impacts of the COVID-19 pandemic and build a stronger, fairer New Jersey economy. This new commitment of funding is enabling projects that are ready to move forward now to advance while new ERA programs are under development.

The ground floor of 21 Mill Street has eight commercial spaces with a commercial parking lot that are not part of the Project. The land and buildings will be broken into two parcels with the applicants solely purchasing the residential portion and the commercial component remaining with the current owner.

Estimated renovation costs are $5.9 million and will include completely renovated kitchens and bathrooms, updated aluminum windows, new doors, and high-grade vinyl floor or hardwood floors.

Additionally, the project will include common area and exterior renovations such as: conversion of the 1,500-square-foot vacant commercial space at 20 Mill Street into a community

room, creation of a small fitness center, repairs to the elevators, installation of a new security system with cameras, and execution of other repairs and upgrades to common areas, including the parking lot and fencing.

The applicants are eligible for a base award of 20 percent of eligible project costs, plus an additional 20 percent (for a total of 40 percent) since the property is located in a Garden State Growth Zone.  The project was approved for tax credits of 37.57 percent of eligible project costs of $16.8 million, not to exceed $6.3 million.

The application for the residential ERG program reopened on June 1, 2021 and is administered based on pre-existing ERG regulations and statutes, as amended by the ERA, which added new prevailing wage and minimum wage requirements.

For additional information and detailed eligibility requirements, including a clarifying document outlining all requirements and application review protocols for interested parties, visit https://www.njeda.gov/economicrecoveryact/. Specific questions can be directed to ergextension@njeda.com.

For more information about the extension of the ERG program and other programs created by the Economic Recovery Act, please visit https://www.njeda.gov/economicrecoveryact/.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (December 8, 2021) – The New Jersey Economic Development Authority (NJEDA) announced today the first awards under the Government Restricted Municipality (GRM) Planning Grants Program. The cities of Atlantic City, Paterson and Trenton, which are the only entities identified as GRM municipalities in the New Jersey Economic Recovery Act of 2020 (ERA), will each receive a grant of $250,000 under Phase One of this two-phase Program.

The funds awarded to each city will support the creation of detailed, long-term, and action-oriented strategic plans that synthesize existing plans from both the municipality and stakeholders and identify technical capacity gaps that have held projects back from completion. These projects are considered to have significant potential to provide sustainable and resilient benefits for community members and business stakeholders.

“Governor Murphy’s ERA is laser-focused on bringing sustainable economic growth to urban centers that can benefit from the creation of new family-sustaining jobs, quality housing and new commercial space,” said NJEDA Chief Executive Officer Tim Sullivan. “These planning grants will accelerate Paterson’s, Atlantic City’s and Trenton’s ability to maximize the impact of our new suite of tools to invest in their communities.”

In line with Governor Phil Murphy’s commitment to investing in communities and people, the GRM Planning Grants Program, announced in June 2021, leverages $3 million of ERA funding to provide grants to qualified applicants to create long-term strategic action plans to catalyze stalled projects and meet the community’s goals.

Following the creation of these strategic action plans under Phase One, Phase Two of the program will provide additional funding of up to $750,000 per GRM to support the execution of projects identified in their strategic action plans.

Eligibility for Phase 2 will be limited to GRMs with plans developed under Phase 1: The approved projects looked at innovative ways to create new collaborations and analyze plans and planning studies from a variety of stakeholders.

Through its Department of Planning, Atlantic City will leverage a rapid but thorough nationwide contract bid for a major planning and analysis partner. The dual focus of the plan will look at gaps that exist for current project development partners as well as identifying solutions that will increase the flow of outside capital.

“The economic revitalization of Atlantic City remains a top priority for my Administration,” said Mayor Marty Small, Sr. “The GRM Planning Grants Program will provide the critical funding needed to support innovative projects that aid in the long-term growth of the great City we call home.”

Paterson, utilizing a City-led integrated special project team, will focus their planning efforts on projects that are community-based but lack planning and research to move to market. The City will also look at the needs around redevelopment areas, city-wide redevelopment plans and their impact on municipal and stakeholder projects.

“As America’s first planned industrial city, we are thoroughly excited about this announcement from the NJEDA. These vital funds will ensure that Paterson engages key stakeholders in crafting new blueprints for comprehensive revitalization and redevelopment citywide,” said Mayor Andre Sayegh. “City planning is the management of change.  It should inspire both hope and pragmatism for the future of our great City.”

Trenton will work with two core partners: Greater Trenton and New Jersey Future, who will conduct an in-depth assessment of economic opportunities based on city assets and market condition. The plan will report and examine the goals and measures for success of the City’s progress to implementing its master plan in order to determine Trenton’s ability to act strategically and take on a long-term planning approach; analyze strengths to be built from; and identify existing gaps that could slow implementation, including internal systems, procedures, and capacity.

“The grants approved today will enable the City, in partnership with Greater Trenton and NJ Future, to take stock of our assets and create a thoughtful, strategic path forward toward implementing Trenton’s Master Plan,” said Mayor Reed Gusciora. “We are so grateful for the state’s support, and are excited to launch this vital planning initiative that will create a solid foundation of economic growth for Trenton’s small businesses and residents now and into the future.”

More information about the GRM Planning Grants Program is available at https://www.njeda.gov/grmpgp.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (December 6, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that the new Brownfields Impact Fund will launch later this winter.  The program will provide grant funding and low-interest loans to public sector and non-profit organizations, as well as low-interest loans to for-profit organizations, to carry out cleanup activities at brownfield sites throughout the state. Potential applicants for the Brownfields Impact Fund can pre-qualify now by visiting https://www.njeda.gov/brownfieldsimpactfund/.

Brownfields are former commercial or industrial sites that are vacant or underutilized and are suspected or known to be contaminated.  These properties have a negative impact on New Jersey’s economy because they lower property values, decrease employment opportunities, and lead to a loss of tax revenue. Brownfields are diverse in terms of shape, size, contamination level, and location.  A brownfield can be a large, former industrial property or a small, local site such as an abandoned gas station in a downtown area. 

The Brownfields Impact Fund will make low-interest loans up to $350,000 available to for-profit organizations and will make grants up to $350,000 available to nonprofit organizations and units of local governments.  Grants may be combined with low-interest loans to help facilitate the redevelopment of brownfields by addressing funding gaps to make the remediation phase of the project financially viable. Once a site has been remediated, construction financing may be more readily obtained by a developer. The goal of the Fund is to advance cleanup activities that will in turn help promote the redevelopment of brownfield sites for productive reuse.

“As we continue to build a stronger, fairer New Jersey economy, Governor Phil Murphy has identified the remediation and redevelopment of brownfield sites as an important component of smart planning that will allow our State to meet its goals for economic growth,” NJEDA Chief Executive Officer Tim Sullivan said. “The Brownfields Impact Fund will increase the economic impact of the State’s investment, reactivating long-stalled sites and encouraging job creation through productive reuse of long dormant properties.”

Eligible uses of the loan and/or subgrant funding include remediation activities necessary to clean up the release or mitigate the threatened release of hazardous materials and other activities approved by the U.S. Environmental Protection Agency (US EPA).

To be eligible for a loan under the Brownfields Impact Fund, entities must be able to demonstrate site control or a path to site control of a brownfield property at time of application. Nonprofit organizations and local government entities applying for subgrant funding must own the brownfield property at the time of application and retain ownership for the term of the subgrant. 

Furthermore, all applications for either the loan or subgrant must be accompanied by a letter of support from the mayor or, if the position of mayor does not exist, from the governing body of the municipality in which the brownfield site is located. Applicants must also be in good standing with the NJ Department of Labor and Workforce Development and the NJ Department of Environmental Protection.

Applications for the Brownfield Impact Fund are expected to open early 2022. For the first 90 days after the date the Authority begins accepting applications, eligibility will be limited to federally designated Opportunity Zones in the States’ Community Collaborative Initiative (CCI) cities. After the 90 days, the Authority will accept applications from projects located throughout the entire state.

Loans or subgrants cannot be provided to entities who are liable under federal law for contamination at the property. Private developers will not be eligible to apply for grant funding.  Funds will be awarded on a first come, first serve basis upon receipt of a completed application.

The Brownfields Impact Fund is part of NJEDA Community Revitalization, a suite of solutions designed to support development that transforms underutilized and contaminated spaces into community assets, with the goal of achieving a greener, fairer New Jersey. This includes ensuring that residents living in communities that have historically suffered from disinvestment, environmental contamination, and health disparities benefit from brownfields redevelopment.

For additional details, eligibility criteria, and award sizes for the Brownfields Impact Fund, please visit https://www.njeda.gov/brownfieldsimpactfund/.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Trenton, N.J. (December 3, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that applications are open for the Offshore Wind Tax Credit Program as updated by the New Jersey Economic Recovery Act (ERA) and P.L. 2021, c. 160. With an overall budget of up to $350 million, the program provides tax credits, often up to 40-60 percent of the qualified capital investments made by a business in a qualified wind energy facility that will be employing at least 150 new, full-time employees.

“Between the New Jersey Wind Port, new offshore wind workforce development programs, and Governor Phil Murphy’s dedication to growing a greener, fairer New Jersey, the Garden State is quickly emerging as the American capital of offshore wind,” said NJEDA Chief Executive Officer Tim Sullivan. “The Offshore Wind Tax Credit is a powerful financial tool that will complement these efforts by enabling global offshore wind companies to make the decision to locate, invest, hire, and most importantly, build a local supply chain here in New Jersey.”

Offshore wind is one of the high-growth, high-wage sectors the State identified in Governor Murphy’s Economic Development Plan and is a central component of Governor Murphy’s Energy Master Plan to achieve 100 percent clean energy by 2050. As part of that plan, New Jersey has committed to producing 7,500 megawatts of offshore wind energy by 2035.

To achieve these goals, the Governor has taken a comprehensive approach to establishing New Jersey as a global hub of offshore wind. In September, the State broke ground on the New Jersey Wind Port, a first-in-the-nation infrastructure investment that will provide a location for essential staging, assembly, and manufacturing activities related to offshore wind projects on the East Coast that has potential to create up to 1,500 manufacturing, assembly, and operations jobs and drive billions of dollars in economic growth. Through the Wind Institute, and in collaboration with the New Jersey Board of Public Utilities (NJBPU), the NJEDA has also awarded nearly $4 million to community colleges throughout the state to support safety training and turbine technician training programs.

The Offshore Wind Tax Credit complements these efforts by providing tax incentives to support businesses making investments in qualified wind energy facilities. Eligible applicants can receive tax credits, often up to 40-60 percent of a project’s qualified capital investments, which can be applied against corporate business tax or insurance premiums.  Tax credits are released in increments of 20 percent of the total credit amount per year for five years. Businesses can also sell their tax credits for at least 75 percent of the credit amount.

To receive tax credits, businesses must meet minimum capital investment and job creation requirements. In line with the NJEDA’s commitment to fiscal responsibility, projects must demonstrate that as a result of the capital investment and the resultant job creation, the State of New Jersey will receive at least 110 percent of the total tax credit amount over a 5-year period. Applicants may request an extended net-benefit period of up to 20 years if they can present verifiable evidence of a longer company commitment to the state.

More information about the Offshore Wind Tax Credit, including detailed eligibility criteria, is available at https://www.njeda.gov/offshorewindtaxcredit/.

Applications for the Offshore Wind Tax Credit are now open and will be accepted on a rolling basis until the program cap is reached. Businesses interested in applying for the program should contact offshorewindtaxcredit@njeda.com.

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (November 23, 2021) – Holiday shopping presents many opportunities to show your support for locally-owned businesses in New Jersey. With close to one million small businesses that call the Garden State their home, the support we show our small business owners during the holidays will have a more far-reaching effect than you may anticipate.

When you consider that according to the U.S. Small Business Administration, there are 937,436 small businesses in New Jersey that employ around 1.9 million people, which  translates to half of all employees in the State, you can begin to understand the monetary impact small businesses bring to our economy. Three times more money returns to the local economy when you shop locally, while eating at locally-owned restaurants brings in two times more money, according to a series of independent-business impact studies conducted by Civic Economics, a consulting firm for local businesses.

To date, in line with Governor Phil Murphy’s vision for a strong recovery, the New Jersey Economic Development Authority (NJEDA) has approved 92,300 grants, loans, guarantees of loans, and technical assistance totaling nearly $667 million through COVID-19 relief programs.  Of that, more than 77,790 grants totaling over $589 million have been awarded.

“In support of Governor Murphy’s goal of a stronger, fairer New Jersey economy, the NJEDA developed numerous programs and services to help our small businesses effectively navigate the economic difficulties caused by the pandemic,” said NJEDA Chief Executive Officer Tim Sullivan. “When small business owners have the local support, on top of any federal or state resources they might be eligible for, the light at the end of the tunnel becomes much brighter, not just for that business, but for the entire community.”

Sullivan added that in order to ensure equitable and inclusive distribution of support, one-third of grant funding approved has been for businesses in the 715 census tracts deemed eligible for consideration as Opportunity Zones.

“Minority- and women-owned businesses were impacted particularly hard by the pandemic, and the holidays are a great time to show our support,” said NJEDA’s Chief Diversity and Inclusion Officer Michelle Bodden. “COVID-19 exacerbated the existing challenges faced by businesses owned by people of color, and an equitable and successful recovery is imperative to the economic future of all New Jersey families.”

Bodden noted that outreach efforts for almost all the Authority’s COVID-19 relief programs targeted minority- and women-owned businesses as well as businesses in historically marginalized communities. As a result of these efforts, nearly 30 percent of the grant funding the NJEDA made available to COVID-19-impacted businesses went to women- and/or minority-owned small businesses.

Whether you decide to shop in one of your town’s many small businesses or opt to hit the road and visit your favorite New Jersey small-town vacation destination, shopping locally during Black Friday, Small Business Saturday and Cyber Monday will prove to be of vital importance to our local economies, as the money you spend at these brick-and-mortar, mom-and-pop shops, will in turn support the communities they serve in several ways.

When small business owners use their earnings to pay for the local products and services they need, that money continues to circulate within the community. By shopping local, you are not just supporting small business owners, you str also supporting their families, their employees and their employees’ families. Additionally, a portion of the taxes charged on your purchases helps fund local police and fire departments, build and improve your schools, and keep roads and bridges in good condition. Therefore, shopping locally also benefits local facilities and municipalities.

The NJEDA’s support for small businesses in the state has not been limited to financial relief program. The Authority has also provided funding to create the E-Commerce Technical Assistance program services to help businesses operate safely during the COVID-19 pandemic. In July of 2020, the Authority engaged the services of Hudson Integrated, Positive Solutions, and Suasion Communications Group to help businesses that normally rely on foot traffic and in-person transactions identify and implement the website and ecommerce capabilities they need to stay in business while complying with health guidelines and changing customer preferences. Through support from this program, more than 60 New Jersey businesses have pivoted to expand their online capabilities, which has helped them continue to serve their customers throughout the pandemic, and also capitalize on opportunities to reach more customers, such as Cyber Monday.

Another NJEDA program that has received high praise for the positive impact it’s had on struggling communities is Sustain and Serve NJ. The program provides eligible entities with grants of between $100,000 to $2 million to support the purchase of meals from New Jersey-based restaurants that have been negatively impacted by COVID-19. So far, $34 million has been awarded to 29 organizations throughout the state to partner with over 400 restaurants and meal delivery services in all 21 counties. Governor Murphy announced another $10 million for the program earlier this month. Sustain and Serve NJ is now on track to provide more than 4.5 million meals.

Some programs created under the Main Street Recovery Program, established under the New Jersey Economic Recovery Act of 2020 (ERA), signed into law by Governor Murphy on January 7, 2021, are designed to assist growing small businesses. This includes the recently-launched Small Business Lease Grant, which 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 square feet of new or additional market-rate, first-floor office, industrial or retail space for a minimum five-year term. A sister program, the Small Business Improvement Grant, will offer reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures and equipment.

The NJEDA’s Board also recently approved the creation of the Main Street Micro Business Loan, which will provide financing of up to $50,000 to eligible micro businesses in New Jersey with ten or fewer full-time employees and no greater than $1.5 million in annual revenues.  The Program is the successor to the Micro Business Loan Program established by the NJEDA in 2019.

New Jersey keeps making huge strides in its efforts to attract entrepreneurs from all sectors of the economy who see the state as an ideal place to start a business. Trenton’s pro-business approach and a growing state economy have made this possible. Nevertheless, the support small business owners need to see their business thrive comes from members of its own community and this holiday season gives us all a great opportunity to show that support.

Our small businesses are counting on you this holiday season! Remember, #NJShopsLocal!

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, LinkedIn and Instagram.
 

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