In support of the Christie Administration’s efforts to stimulate the growth of key industries and communities in the State, the New Jersey Economic Development Authority (EDA) today approved 14 projects for a total of up to $181.7 in tax credits through the Grow New Jersey Assistance Program. 

Of the Grow NJ tax credits approved today, 86 percent are for projects located in a targeted location, which includes distressed and Urban Transit Hub municipalities and Garden State Growth Zones; 40 percent are for projects in the manufacturing sector.  These projects represent the creation of more than 1,900 new, permanent, jobs and the retention of nearly 1,700 jobs that are “at risk” of leaving the State.

“Grow NJ is a valuable program for its potential to stimulate economic activity in geographic areas most in need and industry sectors that are strategic to the growth of the State’s economy,” said EDA Chief Executive Officer Michele Brown.  “The action taken by our Board today to advance these projects will help to stimulate private investment, protect existing jobs and create many new employment opportunities.”

Companies approved for Grow NJ tax credits today include MGP Manufacturing, which produces microfiltration gutter protection systems.  The company is currently headquartered in New Jersey, with manufacturing operations in Pennsylvania.  MGP plans to consolidate into one location, and is exploring options in Paterson and New York.   Diasol, Inc., a California-based medical device manufacturer, is weighing whether to enter into a long-term lease at its current facility in Pennsylvania or purchase a larger facility in Philipsburg.  Princeton Tectonics, which designs and manufactures outdoor lighting equipment, is contemplating expansion and relocation plans in Pennsauken or New York.

Currently based in New York, Patella Construction Corp. is considering Passaic City to relocate and expand its operations, which involves the manufacturing of premium grade architectural custom-made woodwork and specialty crafts.  Charles Komar & Sons, Inc., an intimate apparel and sleepwear company based in New York, is contemplating an expansion to either Jersey City or New York.  Pollaro Custom Furniture, Inc., a creator of museum-quality custom furniture, is looking to relocate and expand its current operations to either Hillside or North Carolina. 

Two companies from the greater technology industry were approved for Grow NJ incentives today.  CareKinesis, a technology-based pharmacy solutions provider, is in the process of deciding whether to expand its headquarters in Moorestown or relocate to Pennsylvania.  Taiho Oncology, Inc. is considering an expansion to larger space in West Windsor, where it currently is based, or moving its business to Pennsylvania.   More than one-third of Grow NJ tax incentives approved to date are for technology companies. 

Other projects approved include Northern Leasing, an equipment finance company, which may expand in Jersey City or move to New York, BlackRock, Inc., which would be expanding its employee base and facilities in West Windsor or moving to Delaware.; wholesaler Material Handling Supply, which is weighing the acquisition of a facility in Pennsauken or leasing a property in Delaware; and, retailer LI 20000, Inc. (Century 21 Department Stores), which is planning to either expand into a recently acquired warehouse in Secaucus or move its distribution space into a facility in New York.

Two professional services providers, LTC Consulting Services, LLC and Gaming Laboratories, were also approved today.  Both are considering an expansion in Lakewood or a move to Pennsylvania.

Signed into law by Governor Christie in September 2013, the Economic Opportunity Act created Grow NJ as the state’s main job creation and retention incentive program.  Grow NJ places extra emphasis on spurring development and private sector job growth in targeted communities and industries. 

The NJ Business Action Center worked in collaboration with the EDA to help cultivate these economic development projects, providing interdepartmental advocacy and ongoing customer support. As a performance-based program, approved Grow NJ projects must first generate new tax revenue, complete capital investments, and/or hire or retain employees to receive approved benefits.

EDA Board meetings are typically held at 10 a.m. on the second Tuesday of each month at 36 West State Street in Trenton.  The Board meeting schedule, as well as Board agendas and minutes, are available at www.njeda.gov.  All Board actions will take effect at the expiration of the statutory period for the Governor’s review and consideration of the meeting minutes.

The EDA is part of the state’s results-driven Partnership for Action, the hub for all economic development activity in New Jersey. The Partnership is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 

To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.

Program Aims to Address Emergency Fuel Supply Challenges

In support of the Christie Administration’s goal of addressing future emergency fuel supply challenges highlighted during Superstorm Sandy, the NJ Economic Development Authority (EDA) today announced the first round of approvals under the Retail Fuel Station (RFS) Program. The $7 million grant program will allow targeted retail fuel stations, on and near evacuation routes, faster and more reliable access to back-up power during an energy emergency.

To date, 33 stations have completed all required environmental and design reviews and are now approved to move forward with their plans to install back-up power solutions using grants provided through the RFS Program.  Of the 33 approvals, 28 will install permanent generators, while five will rely on “quick connect” devices, which provide connection points for mobile generators.  Grants for the approved stations total $1.8 million.

“This first round of approvals under the RFS Program represents a major milestone as we work to make New Jersey more resilient in the face of future disasters,” said EDA CEO Michele Brown.  “These initial approvals, once installed, will help to avert the type of gasoline shortages and logistical and transportation challenges New Jerseyans faced following Sandy.”

The RFS Program, which is voluntary, is funded through the federal Hazard Mitigation Grant Program. Eligible stations, which were identified by state homeland security and emergency management personnel, will use the funds to purchase generators or quick connects.  Stations were targeted for the program based on factors including proximity to evacuation routes and gasoline storage capacity. The application deadline was March 21, 2014.

The 33 stations approved thus far under the RFS Program, and those that follow, are in addition to the 22 gas stations located on the Garden State Parkway, the New Jersey Turnpike, and the Atlantic City Expressway already equipped with back-up power for outages. 

Brown noted that under the RFS Program, a significantly broader reach of gas stations within a quarter of a mile of key evacuation routes across the State will benefit from quicker access to back-up energy.

The RFS Program is two-tiered: targeted retail stations along targeted routes with fuel storage capacity between 30,000 gallons and 35,000 gallons were eligible for up to $15,000 to purchase quick connect technology or offset a portion of the cost of purchasing a generator;  targeted retail stations along targeted routes with fuel storage capacity greater than 35,000 gallons were eligible for up to $65,000 in funding toward the purchase and installation of an onsite generator.

Under the grant parameters, eligible fuel stations were required to serve both diesel and gasoline, except in very limited instances where a station does not sell diesel but is the only available retail fuel outlet within a quarter mile of an identified evacuation route. In addition, a limited number of gas stations with less than a 30,000 gallon capacity were eligible for $15,000 in grant funding as they were also the only stations available on an identified evacuation route.

A map and list indicating the location of the approved stations is available at https://www.njeda.gov/web/pdf/RFS_ApprovedStations.pdf.

In addition to the RFS Program, the State also acquired and will maintain a strategic cache of emergency generators that can be deployed through state emergency responders during a major power outage to critical assets such as shelters, hospitals, public safety facilities, and retail fuel stations.  The generator cache will be stored by the New Jersey Department of Transportation at strategically located facilities to help cover north, central and south response needs. 

In addition, the New Jersey Office of Homeland Security and Preparedness (OHSP) has been working with the U.S. Department of Homeland Security to explore ways to increase the resiliency of the State’s petroleum storage, distribution and supply systems.

Aprobación de Primera Partida para Gasolineras del Programa de Estaciones de Venta de Combustible al por Menor

El programa enfrenta el desafío de fuentes de combustible para emergencias

En apoyo al objetivo planteado por la Administración Christie de enfrentar el desafío de acceso a fuentes de combustible en futuras emergencias, evidenciadas durante el huracán Sandy, la Autoridad de Desarrollo Económico de New Jersey (EDA, por sus siglas en inglés) anunció hoy la primera partida de aprobaciones bajo el Programa de Estaciones de Servicio Minorista (RFS, por sus siglas en inglés). El programa de subsidios de US$7 millones dará a las estaciones de venta de combustible al por menor –situadas en las rutas de evacuación o cerca de ellas– acceso más rápido y más confiable a la energía de reserva durante una emergencia de energía.

Hasta la fecha, en 33 estaciones se han terminado todas las revisiones ambientales y de diseño requeridas y, por lo tanto, recibieron la aprobación para avanzar con sus planes de instalar equipos de reserva de energía mediante los subsidios proporcionados por el Programa de RFS. De las 33 aprobaciones, en 28 se instalarán generadores permanentes, mientras que en cinco se basarán en dispositivos de “conexión rápida” que proporcionan puntos de conexión para los generadores móviles. Los subsidios para las gasolineras aprobadas suman US$1.8 millones.

“Esta primera partida de aprobaciones bajo el Programa de RFS representa un hito importante mientras que trabajamos para que New Jersey sea más resistente frente a futuros desastres”, dijo Michele Brown, Directora General de la EDA. “Estas aprobaciones iniciales, una vez en marcha, ayudarán a evitar el tipo de escasez de gasolina y desafíos logísticos y de transporte que los habitantes de New Jersey tuvieron que enfrentar posteriormente al huracán Sandy”.

El programa de RFS, que es de carácter voluntario, se financia con el Programa de Subsidios para Mitigación de Riesgos del Gobierno federal. Las estaciones elegibles –que fueron identificadas por el personal de gerencia de las agencias de seguridad interna y manejo de emergencias del Estado– utilizarán los fondos para comprar generadores o dispositivos de conexión rápida. Se identificaron las estaciones para el programa con base en factores que incluían la proximidad a las rutas de evacuación y la capacidad de almacenamiento de gasolina. El plazo de admisión venció el 21 de marzo de 2014.

Las 33 estaciones aprobadas hasta el momento bajo el programa de RFS -y las siguientes- se suman a las 22 gasolineras situadas en el Garden State Parkway, el New Jersey Turnpike y la Atlantic City Expressway, ya equipadas con energía de reserva para los cortes. 

Brown hizo notar que bajo el Programa de RFS, al cubrir de manera significativa a gasolineras dentro de un cuarto de una milla de las principales rutas de evacuación por todo el estado, se beneficiarán de un acceso más rápido a la energía de reserva.

El programa de RFS contempla dos categorías de estaciones al por menor: aquellas identificadas a lo largo de las rutas señaladas con capacidad de almacenamiento de combustible entre 30,000 galones y 35,000 galones que eran elegibles para un subsidio hasta de US$15,000 para la compra de dispositivos con tecnología de conexión rápida o para compensar una parte del costo de un generador; y aquellas identificadas a lo largo de las rutas señaladas a su vez, con capacidad de almacenamiento de combustible superior a 35,000 galones que eran elegibles para un financiamiento hasta de US$65,000 para la compra e instalación de un generador en el sitio.

Bajo los parámetros del subsidio, se requirió que las gasolineras elegibles ofrecieran tanto diésel como gasolina, excepto en casos muy limitados cuando una estación no vende diésel, pero es el único punto de venta de combustible disponible en un cuarto de milla de una ruta de evacuación identificada. Además, un número limitado de gasolineras con capacidad inferior a 30,000 galones eran elegibles para subsidios de US$15,000, ya que eran también las únicas estaciones disponibles en una ruta de evacuación identificada.

Un mapa y una lista que indica la ubicación de las estaciones aprobadas está disponible en https://www.njeda.gov/web/pdf/RFS_ApprovedStations.pdf.

Además del Programa de RFS, el Estado también ha adquirido y mantendrá un almacenamiento estratégico de generadores de emergencia que pueden ser instalados mediante servicios de emergencia del Estado durante una interrupción de envergadura de energía en recursos críticos, tales como, por ejemplo, refugios, hospitales, instalaciones públicas de seguridad y estaciones de combustible de venta al por menor. Los generadores de reserva serán almacenados por el Departamento de Transporte de New Jersey en instalaciones estratégicamente localizadas para ayudar a cubrir las necesidades de respuesta en el norte, centro y sur del estado. 

Además, la Oficina de Seguridad Interna y Preparación de New Jersey (OHSP, por sus siglas en inglés) ha estado trabajando con el Departamento de Seguridad Interna de los Estados Unidos para explorar maneras de aumentar la resiliencia en el almacenamiento de petróleo y los sistemas de distribución y provisión del Estado.

Initiative Continues Christie Administration’s Commitment to Innovation and Entrepreneurship

TRENTON, N.J. (Sept. 17, 2014) – Continuing the Christie Administration’s efforts to spur the growth of early-stage technology and life sciences companies in the state, the New Jersey Economic Development Authority (EDA) today hosted its second New Jersey Founders & Funders event.  Held at the Commercialization Center for Innovative Technologies (CCIT) in North Brunswick, the event introduced 30 startup companies to more than 15 prospective investors.

“As part of the EDA’s commitment to growing the technology industry in New Jersey, today’s Founders & Funders event connected early stage companies with well-established investors, providing access to the expertise and funding needed to help these businesses flourish,” EDA CEO Michele Brown said.   

Businesses that participated in today’s Founders & Funders event included Pendo Systems, located in Montclair, which provides the enabling infrastructure for the modern era of global financial services; Chromis Fiberoptics, located in Warren, which  manufactures low cost, high performance polymer optical fibers; VESAG Health, located in North Brunswick, which has developed efficient tools using technology to live healthier, safer and better;  Epi-Gen Pharmaceuticals, located in Princeton, a startup pharmaceutical company with a mission to discover innovative, proprietary drugs for unmet medical needs; Bridge-x Technologies, located in East Windsor, which helps global enterprises in digital transformation of their business to business commerce operations; and  Hulafrog, located in Atlantic Highlands, an Internet startup company whose website connects parents to the best events, destinations and deals for kids in local communities.

Today’s Founders & Funders event featured more than 15 participating investors, including ff Venture Capital, Milestone Ventures, NewSpring Capital, Osage Venture Partners, and NextStage Capital.

As a result of the inaugural Founders & Funders event held in June, approximately 190 meetings occurred between investors and NJ technology companies. EDA will host New Jersey Founders & Funders events quarterly.  The next event is scheduled for Dec. 9, 2014.  

The EDA is part of the state’s results-driven Partnership for Action.  Created by Governor Chris Christie and led by Lt. Governor Kim Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 

To learn about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.

TRENTON, N.J (September 11, 2014) – In support of the Christie Administration’s efforts to stimulate the growth of key industries in the State, the New Jersey Economic Development Authority (EDA) today approved five manufacturing projects, totaling more than $51.8 million in private investment, through the Grow New Jersey Assistance Program.  To date, over 53.7% percent of the anticipated private investment by companies assisted through Grow NJ are in the manufacturing industry. 

“The enhanced Grow NJ Program has effectively worked to attract and retain companies in targeted growth sectors, with considerable activity coming from the manufacturing industry,” said EDA Chief Executive Officer Michele Brown.  “The Economic Opportunity Act is continuing to achieve tangible results, helping to maintain and generate employment opportunities and drive private investment into New Jersey.”

Signed into law by Governor Christie in September 2013, the Economic Opportunity Act created Grow NJ as the state’s main job creation and retention incentive program.  Grow NJ places extra emphasis on spurring development and private sector job growth in targeted communities and industries.  Of the 22 manufacturing companies approved to date, nearly 82 percent are located in a targeted community, which includes distressed and Urban Transit Hub municipalities, as well as Garden State Growth Zones.

The five manufacturing companies approved at the September Board meeting span from Cumberland County to Passaic County and represent both large and small businesses.  The projects were approved for a combined total of up to $87.5 million in tax credits over ten years and involve the creation of an estimated 387 new jobs and the retention of 784 jobs at risk of leaving the state.

In Paterson, Accurate Box Company is contemplating the expansion and renovation of its existing facility or a relocation of operations to New York. The family-owned company is one of the largest independent box manufacturers of litho-laminated packaging in the United States.

Allied Specialty Foods is considering moving its headquarters and purchasing a processing facility in Vineland or Delaware.  The company has grown from a local butcher shop to a national purveyor of specialty meats. 

Coperion K-Tron, a global leader in providing process automation, equipment, systems and solutions for bulk material handling, is currently deciding whether to maintain and renovate its last remaining New Jersey-based facility in Mantua or relocate operations to Virginia.

Following a fire in June, Plastics Consulting and Manufacturing, Inc. is evaluating whether to reconstruct its existing manufacturing facility and office in Camden or move to Philadelphia. The small business, which currently employs a staff of 20, is a leader in applying corrosion and non-stick protective coatings for a variety of industries.

With the revolution in LED lighting technology, RAB Lighting, Inc. has experienced significant growth and is in the process of deciding whether to expand and renovate its current space in Northvale or relocate to New York.  The company manufactures sustainable lighting fixtures, with sales throughout the United States and Canada. 

The NJ Business Action Center worked in collaboration with the EDA to help cultivate these economic development projects, providing interdepartmental advocacy and ongoing customer support. As a performance-based program, approved Grow NJ projects must first generate new tax revenue, complete capital investments, and/or hire or retain employees to receive approved benefits.

EDA Board meetings are typically held at 10 a.m. on the second Tuesday of each month at 36 West State Street in Trenton.  The Board meeting schedule, as well as Board agendas and minutes, are available at www.njeda.gov.  All Board actions will take effect at the expiration of the statutory period for the Governor’s review and consideration of the meeting minutes.

The EDA is part of the state’s results-driven Partnership for Action, the hub for all economic development activity in New Jersey. The Partnership is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 

To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.

$23.7 Million in Assistance Awarded to More than 280 Businesses Since Start of Summer

Trenton, NJ – The Christie Administration announced today that significant progress has been made this summer in the award of recovery grants and loans to small businesses in Superstorm Sandy impacted communities around the state through the Stronger NJ Business Programs, which are administered by the NJ Economic Development Authority (EDA).

Since Memorial Day weekend, more than 280 businesses have been approved for Stronger NJ Business Grants and Loans totaling over $23.7 million.  To date, more than 800 businesses have been approved for grants and loans totaling $88.4 million.

“I am hearing very encouraging news from business owners about the way this summer has gone, particularly in the tourism sector,” said Governor Christie.  “Small businesses have worked hard to recover and many are now reaping the rewards of those efforts.” 

Recent grant approvals include businesses from impacted communities in both North and South Jersey, including Dillon’s Creek Marina in Island Heights, Writer’s Relief in Wood Ridge, Kitchen and Bath Design Gallery in Union, Barlow Flower Farm in Wall, and Coastal Plumbing and Heating in Cape May.  Stronger NJ Business Loans have been approved for businesses including Coin Castle Amusements in Seaside Heights, Shelly’s Food Store in Jersey City, and Lakewood Candies in Lakewood.  Stronger NJ funds are still available for businesses that started the application process prior to the December 31st deadline, and EDA is actively working with program applicants.

“We were able to rebuild in the seven months following the storm, and get open for the 2013 season.  It was a bit of a struggle last year, as business wasn’t as strong and people just weren’t coming down as much,” said Karen Rosania, Owner, Mr. Tee’s Golf, Beach Haven.  “This year we have seen a great improvement.  Mr. Tee’s would not have made it without the Stronger NJ Business Grant program.” 

Rosania first applied for the program at an EDA-hosted workshop at the NJ Maritime Museum last fall.  Many workshops were held in impacted communities throughout the application period to help business owners navigate the requirements of the program. 

In addition to grant and loan support, $43.6 million has been approved under the Stronger NJ Neighborhood and Community Revitalization Program, which provides funding to Sandy-impacted municipalities for long-term economic revitalization priorities in their communities.

The Stronger NJ Business programs are funded through New Jersey’s Community Development Block Grant – Disaster Recovery (CDBG-DR) allocation from the United States Department of Housing and Urban Development (HUD).  Similar to other Superstorm Sandy relief grant programs, there are strict federal eligibility requirements to which the EDA and applicants must comply. 

For more information on the Stronger NJ Business programs, visit http://application.njeda.com/strongernjbusiness or call EDA’s Sandy hotline at 1-855-SANDY-BZ (1-855-726-3929). 

Click here for a Stronger NJ Business Recap Video.