Pilot Program is State’s Latest Step in OSW Industry Expansion

TRENTON, N.J. (October 28, 2019) – The New Jersey Economic Development Authority (NJEDA) has announced its proposal for an Offshore Wind Technical Assistance Program that will support local companies to develop the skills and competencies needed to participate in New Jersey’s burgeoning offshore wind (OSW) industry.
 
The proposal anticipates that the NJEDA will contract with an experienced OSW advisory and certification company to help participating small- and medium-sized businesses assess their current capacity to supply the OSW market and develop an action plan to get up to the current industry standards. Companies that complete the proposed program will receive assistance implementing their action plan and will be independently certified with industry credentials that are important for securing contracts.
 
“Offshore wind is the foundation of Governor Phil Murphy’s vision for 100 percent clean energy and a cornerstone of his plan for a stronger, fairer New Jersey economy,” said NJEDA CEO Tim Sullivan. “New Jersey is well-positioned to become America’s offshore wind capital, and the Offshore Wind Technical Assistance Program will ensure New Jersey businesses and workers are equipped with the skills and industry expertise they need to take advantage of this unprecedented growth opportunity.”  
 
Governor Murphy’s economic plan identifies offshore wind as a focus sector where New Jersey can stimulate significant economic growth and job creation. In addition, the Clean Energy Act of 2018 laid out a goal for New Jersey of achieving 3,500 MW of OSW energy by 2030 and 100 percent clean energy in the state by 2050. To achieve these goals, the NJEDA, through its Office of Economic Transformation (OET), has been working closely with the Board of Public Utilities (NJBPU), the Department of Environmental Protection (NJDEP) and other agencies on the Offshore Wind Task Force to expand New Jersey’s offshore wind industry with programs such as the Offshore Wind Tax Credit and the Offshore Wind Supply Chain Registry.
 
“New Jersey’s offshore wind industry has finally seen forward momentum under Governor Murphy’s leadership, and the proposed Offshore Wind Technical Assistance Program is another positive step to assure the industry that New Jersey businesses are ready and eager to support developers and manufacturers as they continue to advance projects in New Jersey,” said NJBPU President Joseph L. Fiordaliso.
 
The program announced today is designed to prepare companies to meet the specific needs of the OSW industry. As a first step toward implementation, the NJEDA will procure and contract with an experienced OSW advisory and certification company to serve as the Program’s Technical Assistance (TA) Provider. This selection process will include a public Request for Proposals (RFP). Once the TA provider is selected, NJEDA will work with it to refine the program’s ultimate structure and company selection criteria.
 
“Developing offshore wind energy is a critical step in fighting climate change and sea-level rise, as well as an opportunity to grow the green energy sector,” DEP Commissioner Catherine R. McCabe said. “We look forward to partnering with the Economic Development Authority and Board of Public Utilities in bringing to fruition the many opportunities associated with an Offshore Wind Energy Technical Program, as well as working toward Governor Murphy’s clean energy vision for New Jersey.”
  
“Being able to demonstrate to OSW manufacturers and other stakeholders that New Jersey has a robust supply chain ready to serve their needs is critical to attracting capital investment in OSW projects,” said Sy Oytan, Sector Lead, Offshore Wind, NJEDA. “Announcing this program sends a clear signal that New Jersey is committed to supporting OSW growth while also ensuring that local companies and workers are positioned to benefit from this growing industry.”
 
The proposal anticipates that participating companies will be responsible for a portion of the cost to ensure their commitment to full participation and completion of the program. Based on the NJEDA’s expectation for which parts of the OSW supply chain will take root in the United States first, the initial cohort of the program is likely to focus on manufacturing companies.
 
“New Jersey clearly recognizes OSW’s potential to drive major economic growth and is taking strategic steps to establish a network of support for investors and manufacturers considering their options in the State,” said Liz Burdock, CEO and President, Business Network for Offshore Wind. “The technical assistance program will help companies take stock of their bandwidth and build out the right capabilities to support the large-scale opportunities to come.”
 
More information about New Jersey’s offshore wind industry and other resources, including the Offshore Wind Supply Chain Registry, can be found at https://www.njeda.gov/offshorewind.
 
To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan
 
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.
 
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, and LinkedIn.

Members of New Jersey's innovation ecosystem during the State's inaugural Founders & Funders Diversity Roundtable discussion.

TRENTON, N.J. (October 25, 2019) – The New Jersey Economic Development Authority (NJEDA) and the Rutgers Business School convened the first-ever New Jersey Founders and Funders Diversity Roundtable in Newark yesterday to discuss steps the Garden State could take to build a more equitable, diverse innovation economy. Participants included public sector leaders, members of academia, investors, and entrepreneurs.

The discussion centered on defining clear strategies to ensure equity in new and existing programs, initiatives, and policies, and the fair allocation, deployment, and tracking of capital provided to entrepreneurs of color. Participants also discussed other ways to support growing minority-owned firms.

“One of New Jersey’s greatest assets is its diverse population,” NJEDA Chief Executive Officer Tim Sullivan said. “As we continue to build a stronger and fairer economy and work toward Governor Murphy’s goal of creating the most diverse innovation ecosystem in the nation, we need to leverage this strength and create opportunities that drive equitable economic growth.”

During the discussion, NJEDA Vice President of Technology and Life Sciences Investments Kathleen Coviello spoke about resources the State offers to spur opportunities for minority- and women-owned startups. Over the summer, Governor Murphy signed legislation expanding the New Jersey Angel Investor Tax Credit, which will now include a bonus for investors that inject funding into minority- or women-owned businesses. In addition, the NJEDA has also been working closely with First Lady Tammy Murphy’s office to establish a New Jersey chapter of Golden Seeds, a nationwide network of angel investors focused on supporting female entrepreneurs.

The Founders and Funders Diversity Roundtable was held at the Rutgers Business School in Newark, in the midst of Women Entrepreneurship Week. Women Entrepreneurship Week began at Montclair State University in 2014 and is now celebrated internationally. The week showcases women’s successes in the business world and offers opportunities to network and share ideas.

Yesterday’s agenda also included presentations by Darlene Gillard, digitalundivided’s Founding Member and Director of Community, and Hester Agudosi, New Jersey’s Chief Diversity Officer.

“Black women-led startups are historically undercapitalized compared to other startups and that’s something that needs to change,” Gillard said. “At digitalundivided we see yesterday’s diversity roundtable discussion as a good first step and look forward to more conversations like this one in the weeks and months ahead.”

digitalundivided, which relocated its headquarters from Atlanta to Newark this year, takes a transformative approach to economic empowerment by encouraging Black and Latinx women to own their economic security through entrepreneurship and innovation. 

“This roundtable is one of several events designed to send a clear message that the State of New Jersey is committed to increasing diversity within our innovation ecosystem,” Agudosi said. “Active engagement among the public and private sectors and our world-class higher education institutions is key to turning this vision into a reality.”

Yesterday’s discussion comes on the heels of last month’s NJ Connects Business Summit, spearheaded by Agudosi’s Office of Diversity & Inclusion. The summit offered hundreds of minority, women, veteran & LGBTQ business owners and entrepreneurs the opportunity to network and learn about resources to help their enterprises grow.

“Rutgers’ Center for Urban Entrepreneurship and Economic Development (CUEED), has spent a decade fostering opportunities for entrepreneurs of all races,” said Jeffrey Robinson, Associate Professor and Academic Director at CUEED. “Racial disparities among entrepreneurs are very real and all too frequent and it is impressive to see the Murphy administration addressing the critical issue of closing this divide.”
 
To learn more about NJEDA resources, call NJEDA Customer Care at 609-858-6767
or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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TRENTON, N.J. (October 25, 2019) – Arlee’s Raw Blends, which offers a variety of organic cold pressed healthy raw juices and organic raw and vegan food products, plans to open its doors in downtown Trenton in mid-November with support from the New Jersey Economic Development Authority’s (NJEDA’s) Small Business Lease Assistance Program.
 
Co-founded by entrepreneur Paula Taylor and her brother Brian Moore, Arlee’s Raw Blends has been selling its products to customers since 2013. The new, 900-square-foot location on South Warren Street in Trenton is a complement to the already thriving Arlee’s Raw Blends shop in downtown Princeton, which currently employs 11 people. Taylor noted that the Trenton store will be open seven days a week and will offer in-store seating and online ordering, as well as pickup and delivery options.
 
“My brother and I started selling our raw juice blends to customers on the sidewalks of Warren Street when the city used to host weekly Wednesdays on Warren Street festivals, and they now participate on Thursdays at the Capital City Farmers Market,” Taylor said. “Establishing a permanent storefront here in the Capital City fulfills a longstanding dream for us, and I am very grateful to the NJEDA for helping me turn this dream into a reality.”
 
Taylor plans to hire up to eight employees from the Trenton area to staff the new location. She also noted that the contractor she is using to put the finishing touches on the South Warren Street location is also a Trenton resident.
 
The Small Business Lease Assistance Program reimburses businesses and nonprofit organizations 15 percent of annual lease payments for two years when they rent market-rate, first-floor office, industrial, or retail spaces for a minimum 5-year term. Businesses in the program can lease spaces of any size but will only receive NJEDA reimbursements on the first 5,000 square feet of leased space. The program is available in select areas in thirteen cities: Atlantic City, Camden, Trenton, Passaic, Paterson, Bridgeton, Jersey City, Millville, Mt. Holly, Phillipsburg, Plainfield, Salem, and Vineland. To ensure the greatest possible impact, the NJEDA has coordinated with participating municipalities to target specific areas of eligibility that fit the city’s long-term vision.
 
“Helping small businesses flourish in downtown commercial corridors is a key component of Governor Phil Murphy’s vision for a stronger and fairer New Jersey economy,” NJEDA Chief Executive Officer Tim Sullivan said. “Seeing entrepreneurs creating jobs and opportunities for local residents underscores the economic value of the Small Business Lease Assistance Program.”
 
Taylor also credited the Trenton Downtown Association (TDA) with helping to offset the cost of her business’s façade. The Façade Improvement Grant Program helps downtown businesses within the Special Improvement District upgrade and refurbish their commercial business facade. She added that the TDA and the Trenton Parking Authority are partners in the Trenton Parking Initiative, which offers discounted garage parking for small business owners and their employees. In addition, the Parking Initiative provides visitors and patrons with one hour of free parking at the centrally located Liberty Commons Garage at 16 E. Front Street.
 
 
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 EDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.NJEDA.com and follow @NewJerseyEDA on Facebook, Twitter and LinkedIn.
 

New Jersey Economic Development Authority's Tim Sullivan (top), Elizabeth Limbrick and John Costell presented at the Opportunity Zone Boot Camp & Pitch Competition.

Newark, N.J. (October 18, 2019) – Dozens of community leaders, entrepreneurs, and investors convened yesterday at the New Jersey Institute of Technology (NJIT) campus in Newark for the 2^nd National Opportunity Zone Boot Camp and Pitch Competition hosted by BrownfieldListings.com. In addition to educational sessions that showcased New Jersey’s resources for Opportunity Zone communities and investors, the event also included a pitch competition, where participants pitched their ideas to redevelopment experts for a chance to win funding.

“Supporting locally appropriate investment in communities is a critical component of Governor Murphy’s plan to build a stronger, fairer New Jersey economy,” said New Jersey Economic Development Authority (NJEDA) CEO Tim Sullivan. “This event was an exciting opportunity to showcase New Jersey’s unmatched suite of resources that bring together investors, developers, and community leaders in Opportunity Zones to connect community-driven projects with the capital that can turn those ideas into reality.” 

Organized by national redevelopment ecosystem BrownfieldListings.com (BL) in partnership with the New Jersey Innovation Institute (NJII), the Opportunity Zone Boot Camp and Pitch Competition featured presentations from leading experts in all disciplines related to Opportunity Zone development, from finance and law to brownfield remediation and community engagement. The event concluded with an open pitch competition that gave community leaders, entrepreneurs, and developers a platform to pitch their projects to a panel of redevelopment experts.

“As a resident of a municipality that is committed to using the Opportunity Zone program to drive positive, community-supported development, this event was an eye-opening opportunity to learn about the resources available in New Jersey and to build connections with the investors and developers who will help build Flemington’s future,” said Robin Lapidus, Executive Director, Flemington Community Partnership.
New Jersey’s Opportunity Zone strategy is focused on attracting investments in inclusive, equitable development that promote business growth and job creation, especially in communities that have been passed over by developers in the past. The centerpiece of this strategy is the recently-launched Opportunity Zone Marketplace, an online portal designed to connect investors nationwide with business investment, real estate, and community improvement projects in Opportunity Zones.

The Opportunity Zone Marketplace includes a Project Marketplace featuring business and real estate project opportunities, and a Network that facilitates connections among investors, developers, local leaders, project sponsors, business and property owners, and service providers. Individuals and organizations can join the Statewide Network, as well as Local Networks specific to individual municipalities.

“As an investor in real estate and small businesses, the New Jersey Opportunity Zone Marketplace is one of the most exciting and forward-thinking tools I have seen for making the most of this program,” said Michael Ojo, Acquisition Manager at Golden Door Asset Management and one of the judges for the pitch competition.

“Having one central location where I can identify opportunities to invest in real estate as well as minority and women-owned businesses that have community support and connect with partners paves the way for unique and impactful investments that will quickly improve quality of life in underserved communities that have suffered from disinvestment for years.”

Other New Jersey resources were also on display, such as the state’s Opportunity Zone “One-Stop Shop” website, which includes a Community Asset map with data on all the 75 Opportunity Zones and guides for preparing a project pipeline and connecting shovel-ready projects with Opportunity Zone fund investors, and the NJEDA’s Opportunity Zone Challenge, a competitive grant program aimed at supporting efforts to attract investment and build capacity around economic development.

Today’s event also introduced brownfield redevelopment leaders to the NJEDA’s recently-appointed Senior Brownfields Advisor Elizabeth Limbrick. Limbrick brings more than two decades of brownfields redevelopment experience to the NJEDA, including posts at the New Jersey Department of Environmental Protection, academic research on brownfields-related matters and one-on-one technical mentoring for communities at NJIT, and private-sector brownfield management experience.

Limbrick presented on her holistic approach to building out the NJEDA’s current brownfields program, which will leverage brownfields to drive economic growth and create thriving and inclusive urban centers and downtowns, with a focus on addressing environmental justice issues and reducing poverty. She highlighted the NJEDA’s enhanced loan program and proposed brownfields redevelopment tax credit that will provide gap funding for brownfield remediation. Limbrick also discussed the NJEDA’s collaboration with the New Jersey Department of Environmental Protection (DEP) to expand the Community Collaborative Initiative (CCI), which embeds DEP staff in targeted cities to provide hands-on support as they coordinate successful remediation and redevelopment projects.

“Today’s educational sessions and pitch competition provided an inspiring overview of the many creative ways leaders across the country are taking advantage of the Opportunity Zone program to drive positive change in their communities,” said Dan French, Founder and CEO of Brownfield Listings. “Bringing together the wide variety of investors, entrepreneurs, developers, and government officials who connect virtually on Brownfield Listings to share their expertise and ideas was incredible, and I am sure the connections forged today will lead to major revitalization initiatives down the line.”
 
To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan
 
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, and LinkedIn.
 

TRENTON, N.J. (October 2, 2019) – Thousands of entrepreneurs, investors, students, and community leaders are expected to descend on Hoboken tomorrow, October 3 for the fourth-annual Propelify Innovation Festival. The event showcases New Jersey’s synergistic innovation ecosystem and connects entrepreneurs with resources they need to grow and thrive in the Garden State. The New Jersey Economic Development Authority (NJEDA) is among the sponsors of this year’s festival.

Propelify is the brainchild of Aaron Price, who recently took over as the President and Chief Executive Officer of the New Jersey Technology Council (Tech Council). He is also the Founder of NJ Tech Meetup. Price launched the Propelify Innovation Festival because he noticed that being surrounded by other entrepreneurs and innovators was both motivating and smart for business. He said that, after six years building the NJ Tech Meetup into the state’s most active community of entrepreneurs, it was clear that there was a bigger opportunity to bring together the region’s entrepreneurial community on a larger scale.

“Propelify is rooted in the concept that ideas are easy; the challenge is in propelling them into reality,” Price said. “I'm proud that Propelify has helped to elevate New Jersey into the national conversation around where we fit and have strengths in the innovation economy and startup ecosystem.”

Governor Phil Murphy and NJEDA Chief Executive Officer Tim Sullivan are among dozens of speakers scheduled to address attendees.

“Reclaiming New Jersey’s role as a leader in innovation is a priority for Governor Murphy, and Propelify presents a terrific opportunity for entrepreneurs to engage with NJEDA and Choose New Jersey staff to learn about State resources that can support their specific goals,” Sullivan said. “It also offers a highly-visible platform for industry leaders to sell entrepreneurs throughout the region on why they should bring their businesses to the Garden State.”

The NJEDA and Choose New Jersey will share a booth at the event where attendees can learn about the many benefits of growing a business in New Jersey, such as the state’s diverse, highly-educated workforce, its proximity to world-class universities, and its ideal location along the Eastern seaboard, with easy access to New York and its markets, as well as Philadelphia, Boston, and Washington D.C.

This year’s event will feature a startup competition, an entrepreneur elevator pitch session, and drone racing.
In addition, a panel discussion will feature funding opportunities for female entrepreneurs. First Lady Tammy Snyder Murphy will moderate the panel, entitled “Seeds for Success: The Angels Leading the Way for Women Entrepreneurs.” Panelists will include Miri Park, the Chief Operating Officer of Somerset County-based Chromis Fiberoptics; Gina Tedesco, an active investor – and a Golden Seeds member, serial entrepreneur, professor, and mentor; and Kathleen Coviello, Vice President of Technology and Life Sciences Investment at the NJEDA.
Members of the NJEDA’s Office of Economic Transformation will also be on hand to talk to entrepreneurs about the financial resources available to early-stage technology companies, such as the State’s Net Operating Loss Program, Angel Investor Tax Program and NJ Ignite.  

The full Propelify Innovation Festival schedule can be found at https://propelify.com/2019-festival-agenda/. 

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