Jake Trinidad, Author at NJEDA

Updates to Take Charge and NJ Cool programs will expand EV charging infrastructure and bolster building decarbonization

TRENTON, N.J. (August 26, 2026) – The New Jersey Economic Development Authority (NJEDA) Board recently approved modifications to the Take Charge Program and the NJ Cool Program to increase available funding, advance new solar and energy storage installations, reduce energy bills for businesses and institutions, and drive down greenhouse gas emissions. The approved changes align both programs with Governor Mikie Sherrill’s efforts to expand power generation, lessen strain on the state’s power grid, and lower energy costs, supporting affordability for the state’s residents and entrepreneurs.

“New Jersey’s businesses are the backbone of our economy, and we are committed to giving them the tools they need to grow, create jobs, and thrive,” said Governor Mikie Sherrill. “By aligning programs like Take Charge and NJ Cool with our broader energy affordability agenda, we are helping businesses lower costs and invest in their future. I’m grateful to the NJEDA for their partnership as we work to make New Jersey a more affordable and competitive place to do business.”

“Governor Sherrill understands that supporting business growth in New Jersey requires meaningful action on energy affordability, and in her first six months in office, she has enacted reforms to freeze energy rates, expand power supply, and bring real relief to ratepayers,” said NJEDA Chief Executive Officer Evan Weiss. “The changes to Take Charge and NJ Cool will align the NJEDA’s clean energy toolkit to Governor Sherrill’s energy affordability agenda, unlocking capital for business owners to continue growing their enterprises in the Garden State.”

The Take Charge Program will use Regional Greenhouse Gas Initiative (RGGI) funds to help commercial organizations cover the costs of establishing electric vehicle charging infrastructure for private fleets. Under the changes to the Take Charge Program approved by the Board, the minimum grant award size per project will be increased from $50,000 to $100,000 and the installation of on-site renewable energy generation or energy storage systems will be required as part of the proposed project scope. These modifications better align the program with the state’s current energy priorities, including the adoption of Virtual Power Plants (VPPs), which will better manage grid resources, lower electricity costs, and provide a future revenue source to participants.

Under the NJ Cool Program, the NJEDA utilizes RGGI funds to provide grants of up to $1 million for 50 percent of eligible project costs for building retrofit projects that reduce greenhouse gas emissions, helping create efficient, affordable, and more resilient buildings while supporting New Jersey’s broader clean energy goals. Phase 2 of the program will require updates to the building’s existing heating or cooling system and installing on-site renewable energy generation or energy storage systems.

The NJ Cool Program complements the NJEDA’s Reducing Emissions through Retrofits, Optimization, Fuel-Switching, and Innovative Technologies (RETROFIT NJ) Grant Program, which supports multi-pronged, large-scale retrofit projects that enable holistic energy improvements for buildings, campuses, and multi-building facilities. In June, the NJEDA announced it awarded 10 large-scale projects a total of $79 million under the RETROFIT NJ Program. The NJEDA recently updated the RETROFIT NJ Program to expand available funding and advance more solar generation, battery storage, and thermal energy network projects. Applications for Phase II of the RETROFIT NJ Program are expected to open later this summer.

The NJEDA’s other clean energy programs have continued to advance innovative energy projects during Governor Sherrill’s first months in office. Recently, the NJEDA and Nuveen Green Capital closed a $101 million loan under the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program to support the construction of energy efficiency and renewable energy projects for the upcoming Lionsgate film studio in Newark. Additionally, more than $53 million in voucher funding has been approved under the New Jersey Zero-Emission Incentive (ZIP) Program in 2026, assisting in the purchase of 791 zero-emission medium- and heavy-duty vehicles from NJ-based dealerships, with more approvals ongoing.

Collectively through its programs, the NJEDA has invested over $180 million in clean energy projects in 2026 so far. For more information on the NJEDA’s clean energy programs, visit www.njeda.gov/clean-energy/.

About the NJEDA

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 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (August 24, 2026) – The New Jersey Economic Development Authority (NJEDA) Board approved a Cultural Arts Facilities Expansion (CAFE) Program award to support the Asbury Park Convention Hall’s $130 million renovation project. The investment in the 97-year-old convention hall in Monmouth County will expand equitable access to the performing arts for residents across the state, while catalyzing local economic development and revitalizing an important cultural anchor.

“For nearly a century, the Asbury Park Convention Hall has served as an iconic landmark that provides top-tier arts entertainment and programming for residents and visitors. It’s exciting for the NJEDA, under Governor Sherrill’s leadership, to be a part of this next chapter in its ongoing legacy,” said NJEDA Chief Executive Officer Evan Weiss. “Through investments in the arts and culture sector, the CAFE Program is helping drive new economic activity into communities and ensuring cultural hubs can continue serving the public for future generations.”

The Asbury Park Convention Hall Music & Performance Venue’s Restoration, Revitalization & Modernization Project will rehabilitate the 1920s-era performing arts center, which includes the Convention Hall, the Grand Arcade, and the Paramount Theater on the Asbury Park Boardwalk. The entire complex will undergo a comprehensive restoration – inside and out – in accordance with historic preservation standards, revitalizing structural, mechanical, architectural, features, including the marquee, lobbies, mezzanines, storefronts, and performance spaces. ADA access upgrades will ensure the landmark is welcoming and inclusive for all visitors as it enters its next century of service.

Beyond its significance to Asbury Park, securing the future of this irreplaceable cultural landmark will serve as a cultural and economic asset for the entire State of New Jersey, drawing visitors and artists from near and far. The project’s goal to attract world-class talent will elevate New Jersey’s cultural profile far beyond the local community, creating ripple effects that bolster the state’s music, arts, and tourism sectors.

“Asbury Park is rooted in music, and the legendary Convention Hall is a center of that,” said Gary Mottola, President, Madison Marquette Asbury. “This CAFE award will ensure that Asbury Park remains a cultural heartbeat of the State for generations to come.”

First opened in 1929, the Convention Hall complex has hosted diverse programming spanning music, theater, dance, film, sports, conventions, and civic events, establishing it as a vital component of New Jersey’s creative and cultural landscape. The comprehensive upgrades will enhance the complex’s ability to attract top performers and diverse audiences while honoring its legacy as a symbol of cultural pride, resilience, and artistic expression. The project is approved for up to $75 million in CAFE Program tax credits.

“The City is thrilled about Madison’s approval application for the tax credits,” said Deputy Mayor Amy Quinn. “We thank the Sherrill administration and Senator Gopal for their support. This is a great step that has required years of work and negotiation. These credits come only if Madison stays in compliance. We look forward to working with the EDA and Madison Marquette to ensure one of the most historic and iconic structures on the East Coast is restored to its former glory.”

New Jersey’s arts and culture sector contributes billions of dollars in economic activity each year, drives tourism, and enhances quality-of-life for state residents. NJEDA initiatives like the CAFE Program and the Activation, Revitalization, and Transformation (A.R.T.) Program leverage the economic potential of arts and culture projects to boost foot traffic in downtowns and main streets across New Jersey, supporting local small businesses, creating jobs, bolstering engagement with the arts, and strengthening the vibrancy of communities.

The CAFE Program aims to increase cultural arts activities, attract visitors, boost engagement with the arts in underserved communities, and revitalize downtowns by providing tax credits to build or renovate facilities, including aquariums, historical societies, libraries, galleries, and museums. Eligible awardees can receive tax credits covering up to 100 percent of eligible project costs, up to $75 million.

About the NJEDA

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Fund managed by Portal Innovations will support New Jersey Innovation Hub companies affiliated with the HELIX Strategic Innovation Center

TRENTON, N.J. (August 20, 2026) – Today, the New Jersey Economic Development Authority (NJEDA) Board approved a commitment of up to $5 million to an investment fund managed by Portal Innovations to support New Jersey life sciences companies based at the New Jersey Innovation Hub in the New Jersey Health + Life Science Exchange (HELIX) Strategic Innovation Center (SIC). This investment, matched by an up to $5 million commitment from RWJBarnabas Health, the exclusive healthcare partner to the fund, will help advance innovative startups focused on drug discovery and translational medicine, supporting entrepreneurs, creating jobs, strengthening community health and access to healthcare for the communities’ services, and driving long-term growth in the state’s innovation economy.

“Through our first six months in office, my Administration is taking action to ensure the next generation of innovative companies can thrive right here in New Jersey, from cutting costs and easing burdensome regulations, to making government more responsive to the needs of the business community,” said Governor Mikie Sherrill. “The partnership between the NJEDA and RWJBarnabas Health shows the power of public-private partnerships in building our state’s innovation economy, and will further New Jersey’s leadership in the life sciences sector.”

“From cutting red tape and burdensome regulations to expanding access to capital, Governor Mikie Sherrill is taking action to ensure companies can continue to grow and thrive in New Jersey,” said NJEDA Chief Executive Officer Evan Weiss. “The NJEDA’s $5 million investment to Portal Innovations, partnering with RWJBarnabas Health’s $5 million match, will bolster the state’s leadership in the life sciences sector, advance novel research and development, and strengthen New Jersey’s entrepreneurial ecosystem, encouraging the Garden State’s continued economic growth.”

SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and educational programming. Providing a physical location where entrepreneurs can collaborate helps cultivate new, diverse innovators and drives long-term economic growth. Robust public-private partnerships such as those fostered by SICs expand capital, networking, and development opportunities that strengthen New Jersey’s economy, supporting Governor Sherrill’s efforts to advance innovative economic development initiatives to increase entrepreneurship.

Building One of the HELIX development in downtown New Brunswick includes the New Jersey Innovation Hub, a collaborative environment equipped with full-service workspaces, wet and dry laboratories, conference facilities, food services and other amenities for participating startup companies. Strategic partnerships with private sector leaders like RWJBarnabas Health, which is matching the NJEDA’s $5 million commitment, will help engage and guide New Jersey Innovation Hub startups to real world patient needs, allowing healthcare innovations to quickly transition from discovery to bedside.

“At RWJBarnabas Health, we know the most promising breakthroughs in medicine shouldn’t stall on their way from bench to bedside. We see this collaboration with the NJEDA and Portal Innovations as a direct expression of Governor Sherrill’s vision for a more competitive, innovation-driven New Jersey — one where economic growth and improved health outcomes advance hand in hand,” said George Helmy, EVP and Chief Corporate Affairs Officer, RWJBarnabas Health. “This strategic investment allows us to walk alongside entrepreneurs from their earliest ideas through clinical application, ensuring that life sciences innovation translates into better outcomes for the patients and communities we serve.”

Portal Innovations, a life sciences venture creation and development platform, was selected as the operator of the New Jersey Innovation Hub in May 2025. The company provides a comprehensive national network encompassing multiple locations and exclusive services tailored to the needs of members and founders. To date, Portal has helped more than 90 innovative startups across various therapeutic areas, including medtech, diagnostics, and data sciences.

“Successful life sciences ecosystems are built through collaboration, and public-private partnerships are essential to creating the conditions where entrepreneurs can thrive, and we’ve already had success in New Brunswick by signing 18 members at the New Jersey Innovation Hub” said John Flavin, Founder and CEO of Portal Innovations. “The investment from NJEDA and RWJBarnabas Health is a seminal moment for life sciences innovation in the state. These funds represent an important commitment to giving New Jersey startups the resources they need to reach their next milestones and build on the momentum already underway in the state’s life sciences ecosystem.”

The New Jersey Innovation Hub is further supported by public and private partners, including Rutgers University, Hackensack Meridian Health, Johnson & Johnson, the New Brunswick Development Corporation, and Middlesex County.

The NJEDA has announced investments into 12 SICs in New Jersey, focused on industries such as artificial intelligence, fintech, aerospace, life sciences, and biotech. In addition to the New Jersey Innovation Hub, several SICs, including the NJ AI Hub, The New Jersey Accelerator for Innovation in Medtech, and the Nurture New Jersey SIC, have associated investment funds in recognition of the importance of access to capital in startup growth. To learn more about the NJEDA’s SIC initiative, visit https://www.njeda.gov/strategic-innovation-centers/.

About the NJEDA

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Funding will facilitate the installation of energy efficiency, renewable energy, EV charging, and water conservation measures  

TRENTON, N.J. (August 13, 2026) – Today, the New Jersey Economic Development Authority (NJEDA) and Nuveen Green Capital announced the closing of a $101 million loan under the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. The funding, administered alongside senior lender and alternative investment manager MCCP, will support the construction of energy efficiency and renewable energy projects for the upcoming Lionsgate Studios Newark, which is owned and operated by Great Point Studios, increasing power generation, easing upfront costs for developers, creating high-quality jobs, and expanding New Jersey’s nation-leading film and television infrastructure.  

 C-PACE financing will be used to install seven electric vehicle charging stations and a 1.1 mega-watt (MW) solar power system with anticipated annual generation of 1.34 million kilowatt-hours (kWh), advancing Governor Mikie Sherrill’s efforts to bolster power generation and lower costs for New Jerseyans. Energy-efficient building envelope, lighting, and electrical HVAC systems will also help reduce electricity consumption by 388,000 kWh annually, reducing strain on the power grid and lowering utility costs, while water conservation measures are projected to save 259,000 gallons of water annually.

“Governor Sherrill has taken meaningful action throughout her first year in office to expand power generation, cut red tape for businesses, lower costs for New Jerseyans, and strengthen the state’s high-growth industries,” said NJEDA Chief Executive Officer Evan Weiss. “To advance the Governor’s efforts, the NJEDA continues to make impactful investments through its clean energy programs, and support for Lionsgate under the Garden State C-PACE Program exemplifies the tremendous economic opportunities available for businesses while simultaneously bolstering the state’s booming film and television industry.” 

The Garden State C-PACE Program allows property owners to repay investments from Qualified Capital Providers into eligible projects through a special assessment to a Participating Municipality, similar to the owner’s real property tax, sewer, or water bill. The Participating Municipality then remits the payment to the initial capital provider. This unique form of financing results in lower-cost, longer-term financing, making it easier for projects to be cash flow positive from the outset. Municipalities are required to opt-in prior to any project application. 

“We are thrilled to partner with NJEDA as well as MCCP to capitalize this significant project, which marks not one, but two milestones, as the largest C-PACE transaction ever closed in New Jersey and the first in the city of Newark,” said Mike Doty, Senior Director of Originations, Nuveen Green Capital. “Through C-PACE, the sponsor will realize meaningful cost savings by financing eligible improvements at a competitive rate over a longer term, preserving capital that can be redeployed into the development itself. As C-PACE continues to expand across asset classes and use cases, it is exciting to see it applied to a project of this scale and cultural significance, one that is strategically located close to New York City and will bring jobs, production activity, and sustainable infrastructure to Newark for years to come.”

Lionsgate Studios Newark will sit on a 12-acre site and feature six soundstages designed to accommodate simultaneous film and television productions of varying scale. The property will include comprehensive production support infrastructure with mill shops for set construction and fabrication, dedicated production offices, support space, and equipment storage. The studio will also provide career training to Newark high school students as the film and production economy in New Jersey continues to grow. Construction is expected to be complete in 2027.  

Lionsgate Studios Newark was announced as New Jersey’s first-ever Studio Partner in December 2022, allowing the company to access expanded benefits under the state’s Film and Digital Media Tax Credit program. Under the designation agreement, Lionsgate (NYSE: LION) commits to occupy a New Jersey film production facility for at least 10 years and is potentially eligible for a 40 percent base tax credit for qualified production expenses on future New Jersey film projects. 

Since the state’s Film and Digital Media Tax Credit Program was reinstated, film production in New Jersey has surged. In 2024, in-state production spending from filmmaking hit an estimated $834 million, surpassing the previous record of $701 million in 2022. To accommodate the surge in film production, the new Lionsgate Studios Newark, along with Netflix’s new studio at Fort Monmouth and 1888 Studios in Bayonne, will significantly expand the state’s film and television infrastructure, attracting more productions, creating jobs, and stimulating local economies.   

“Newark represents one of the most exciting opportunities for the future of film and television production,” said Robert Halmi, Founder and CEO of Great Point Studios. “This financing is an important milestone that allows us to bring a world-class, purpose-built studio to a city with tremendous potential. Lionsgate Newarkwill deliver sustainable infrastructure that supports the next generation of film and television production while creating high-quality jobs, supporting local businesses, and helping establish Newark as a new center for creative and economic growth.”

“As large and as creative as this complex financial transaction is, it is dwarfed by the enormous benefit it bestows on the people of our city,” said Newark Mayor Ras J. Baraka. “Rising from a long-neglected expanse of land in the South Ward, this investment brings palpable hope in the form of forward-facing infrastructure, job creation and over-arching economic development. The construction phase brings employment and infuses collateral spending in the neighborhood. The studios spur relevant workforce development, permanent careers and a host of local support businesses. Beyond that, by signing the Community Benefits Agreement, Great Point has committed to ongoing educational, arts and cultural programs that will further enrich residents of all ages, for generations to come.”

 “Asset Environments appreciates our continued relationship with NJEDA and Nuveen Green Capital to evaluate and review the energy and economic impacts of exciting developments in New Jersey. Working with outstanding administrative, financing, design, and engineering teams are what allow projects like this to be successful,” said Asset Environments Energy Engineer Troy Teeter. “New Jersey C-PACE’s use of whole building energy modeling in combination with bonus technologies provides access to capital financing with tangible benefits to the sponsor. Through the PACE review process, the project design team implemented additional energy saving improvements into the building’s design enabling access to additional financing. As a result, the project is expected to reduce its total site energy consumption to align with the project’s sustainability and operational goals, while maximizing financial benefit. This project is a showcase of how sustainably minded borrowers benefit from the advantages of C-PACE as a tool to both improve their building and meet their financial goals.”

Over the past decade, C-PACE programs in more than three dozen states have proven an effective tool to attract private capital into the renewable energy, energy efficiency, and resiliency markets. To date, according to the non-profit entity PACENation, there have been 3,581 C-PACE projects throughout the United States, which have drawn a collective investment of over $9.75 billion and have created 148,795 jobs. The Garden State C-PACE Program is already making meaningful investments in projects around the state, closing more than $176 million in financing since launching in July 2025.  

A list of current Participating Municipalities, Qualified Capital Providers, and Qualified Technical Reviewers can be found here. The NJEDA will continue accepting applications for municipalities, capital providers, technical reviewers, and C-PACE projects on a rolling basis.  

For more information, including C-PACE eligibility requirements and program guidelines, visit https://www.cpacenj.gov/ or email Gardenstatecpace@njeda.gov.  

About the NJEDA

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CAMDEN, N.J. (August 12, 2026) – Today, New Jersey Economic Development Authority (NJEDA) Chief Executive Officer Evan Weiss and Battleship New Jersey Museum & Memorial CEO Marshall Spevak announced that the Authority’s Cultural Arts Facilities Expansion (CAFE) Program will support the museum’s planned expansion and improvement project. Since opening as a museum in 2001, the Battleship New Jersey has preserved its storied naval history while serving as a cultural landmark and educational destination that has strengthened community pride and helped connect local residents with national history. The Battleship’s $24.25 million renovation plans include a new visitor center as well as various improvements and upgrades to the ship itself to ensure it can continue educating the next generation.

“As a Navy veteran, I know Battleship New Jersey stands as an enduring testament to the service and sacrifice of generations of Americans,” said New Jersey Governor Mikie Sherrill. “This investment will preserve that legacy and strengthen one of New Jersey’s most treasured historic destinations. It will also bring more visitors to Camden and create new activity along the waterfront, supporting the surrounding community. Future generations deserve the opportunity to experience this extraordinary ship and understand what it represents.”

“Under Governor Mikie Sherrill’s leadership, the CAFE program is helping to spur economic activity, drive foot-traffic into key corridors, and revitalize communities across the state,” said NJEDA CEO Evan Weiss. “The NJEDA is proud to support Battleship New Jersey’s improvement project, which will expand access to this historic icon for students, families, and visitors to hands-on educational experiences, ensuring it remains a community cultural hub for years to come.”

The Battleship New Jersey Redevelopment Project, located at 100 Clinton Street in Camden, will consist of a new three-floor visitor center which will include a lobby area, ticketing space, artifact displays, a small café and gift shop, landscaping improvements, and administrative support areas. There will also be various security improvements and renovations to help provide a better visitor experience. The credit award is for up to 100% of eligible project costs, not to exceed $19.9 million.

“After successfully preserving the Battleship’s physical future through her historic dry docking in 2024, our responsibility is to build an institution around her that can thrive for generations,” said Battleship New Jersey CEO Marshall Spevak. “This project will fundamentally change how visitors arrive, how they experience the ship, and how we sustain this national treasure over the long term. It is the culmination of years of planning and partnership, and it gives us the opportunity to match the greatness of the ship with the visitor experience she deserves.”

The announcement was made today during a press conference at Battleship New Jersey. NJEDA CEO Weiss and Battleship New Jersey CEO Spevak were joined by Camden County Commissioner Jeffrey L. Nash, Camden Mayor Vic Carstarphen, and other local officials.

“Camden County is proud to be a partner to the Battleship New Jersey in this project and in its continued growth as one of our region’s most important cultural and historic institutions,” said Camden County Commissioner Jeffrey Nash, “This investment will improve the visitor experience, support tourism, and strengthen the Battleship’s role as an anchor of the Camden waterfront. It is a significant investment not only in the ship, but in the future of Camden County and the entire region.”

“The Battleship is an unmistakable part of Camden’s identity and an enduring symbol of our city’s strength and resilience,” said Camden Mayor Victor Carstarphen. “This project means new investment, new activity, and new opportunities along our waterfront. Most importantly, it ensures that Camden residents and visitors from around the world will continue to experience this historic ship right here in our city.”

Battleship New Jersey serves as a cultural and educational resource for Camden and the surrounding region. The museum draws a wide and diverse audience including students, military veterans, families, and tourists exploring the Camden and Philadelphia region, and attracts approximately 80,000 visitors annually.

New Jersey’s arts and culture sector contributes billions of dollars in economic activity each year, drives tourism, and enhances quality-of-life for residents. NJEDA initiatives like the CAFE Program and the Activation, Revitalization, and Transformation (A.R.T.) Program leverage the economic potential of arts and culture projects to boost foot traffic in downtowns and main streets across New Jersey, supporting local small businesses, creating jobs, bolstering engagement with the arts, and strengthening the vibrancy of communities.

About the NJEDA

TRENTON, N.J. (August 10, 2026) – On Wednesday, August 12, 2026, the New Jersey Economic Development Authority (NJEDA) and Battleship New Jersey will host a press conference to announce the museum’s multimillion-dollar renovation project, which is supported by the Authority’s Cultural Arts Facilities Expansion (CAFE) Program. The improvements will help ensure the museum will remain an educational and cultural hub for future generations.

WHEN: Wednesday, August 12, 2026

10:30 a.m.

WHO: NJEDA CEO Evan Weiss

Camden County Commissioner Jeffrey L. Nash

Camden Mayor Victor Carstarphen

Battleship New Jersey CEO Marshall Spevak

WHERE: Battleship New Jersey Museum & Memorial

100 Clinton Street

Camden, N.J

PRESS: OPEN

(RSVP to Christopher.Flores@njeda.gov or dan.keashen@camdencounty.com)

TRENTON, N.J. (July 30, 2026) –The New Jersey Economic Development Authority (NJEDA) will auction up to $25 million in corporation business tax and insurance premiums tax credits through the Food Desert Relief Tax Credit Auction. The auction, which was approved during the NJEDA’s July Board meeting, helps businesses reduce their New Jersey taxes by up to 15% while raising funds to strengthen food security and fight hunger in communities across the state. The NJEDA will begin accepting applications on Tuesday, September 8, 2026.

WHAT: Up to $25 million in tax credits will be up for sale through the Food Desert Relief Tax Credit Auction, allowing bidders to offset their NJ tax liability by up to 15%.

Proceeds will fund programs that that strengthen food access and reduce hunger in communities across the state where these challenges are the most acute. These future grant, loan, and/or technical assistance opportunities will advance the priorities established by the Food Desert Relief Act and complement the NJEDA’s robust toolkit of existing food security programs, including FEED NJ, which was funded by proceeds from past tax credit auctions and is investing $30 million to catalyze innovative, sustainable, and scalable food access initiatives in underserved areas.

WHO: New Jersey Corporate Taxpayers or Insurance Companies that want to reduce their New Jersey 2026 tax liability. Companies do not need to be located in a food desert, be in the food industry, or make any ongoing commitments beyond the purchase transaction to buy tax credits through the auction.

WHEN: Applications for the Food Desert Relief Tax Credit Auction will open on Tuesday, September 8, 2026 at 10 a.m. and will close on Friday, October 9, 2026 at 5 p.m. Applications and additional information can be found here.

An informational webinar will be held on Monday, August 10, 2026 at 1 p.m. For more information and to register for the webinar, click here.

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Aligned with Gov. Sherrill’s clean energy goals, the second phase of the program will bolster efforts to reduce greenhouse gas emissions and energy costs

TRENTON, N.J. (July 28, 2026) – Last week, the New Jersey Economic Development Authority (NJEDA) Board approved modifications to the Reducing Emissions through Retrofits, Optimization, Fuel-Switching, and Innovative Technologies (RETROFIT NJ) Grant Program to expand available funding and advance more solar generation, battery storage, and thermal energy network (TEN) projects. The changes, which will take effect when applications reopen later this summer, support Governor Mikie Sherrill’s efforts to lower energy costs, reduce greenhouse gas emissions, and provide meaningful cost relief to residents and business owners.

“Starting on her first day in office, Governor Mikie Sherrill has taken aggressive action to expand energy capacity, bolster the state’s electric grid, and lower costs for New Jerseyans,” said NJEDA Chief Executive Officer Evan Weiss. “The changes to the RETROFIT NJ Program build on the NJEDA’s existing clean energy efforts to make energy efficiency, decarbonization, and power generation projects easier and more affordable, stimulating economic growth and enhancing our long-term economic competitiveness.”

The RETROFIT NJ program utilizes Regional Greenhouse Gas Initiative (RGGI) funds to support projects that advance at least three building decarbonization components, such as solar, energy storage, electrification of heating, refrigerant replacement, and energy efficiency upgrades, or is a TEN, which connects heating, cooling and/or hot water systems across multiple buildings. Funding can cover both hard and soft project costs, including design, engineering, equipment, construction, and commissioning.

The Board approved increasing the RETROFIT NJ Program’s base funding pool to up to $225 million to support future phases of the program if demand warrants. Projects involving a TEN will remain open to commercial, industrial, or institutional buildings, while projects without a TEN will be limited to institutional applicants serving a non-profit or public purpose or private manufacturers. To better align the program with Governor Sherrill’s Executive Orders 1 and 2, which aim to expand power generation and lower energy costs, projects that do not involve TENs must now include either on-site renewable energy generation or on-site energy storage as one of three required project scope categories.

In June, the NJEDA Board approved $79 million in grant awards to ten large-scale decarbonization and energy efficiency projects under the RETROFIT NJ Program, including a combined 20.3 megawatts (MW) of solar and 86.9 MW of battery storage and supporting $238 million in economic activity. The suite of approved projects will reduce electricity usage by 30.7 million kilowatts (kW) annually, relieving strains on the state’s electric grid and lowering energy costs. $54 million of the awarded funding has been directed to projects in the state’s Overburdened Communities.

Applications for Phase II of the RETROFIT NJ Program are expected to open in Summer 2026. For more information, visit https://www.njeda.gov/retrofit/ or email retrofit@njeda.gov.

About the NJEDA

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TRENTON, N.J. (July 24, 2026) – The New Jersey Economic Development Authority (NJEDA) Board approved two awards under the Cultural Arts Facilities Expansion (CAFE) Program, paving the way for projects at the Center for Creativity at the Rialto in Westfield and the Paper Mill Playhouse in Millburn. Together, these investments will expand access to performing arts programming for residents and students across Essex and Union Counties, while revitalizing two cultural destinations.

“New Jersey’s arts and culture sector is a powerful economic driver, fueling local businesses, creating good-paying jobs, and strengthening communities across the state. Governor Sherrill is committed to investing in this thriving sector and expanding opportunities for economic growth,” said NJEDA Chief Executive Officer Evan Weiss. “Through the CAFE Program, the NJEDA is increasing access to major arts and cultural institutions, which helps attract visitors, support regional economies, and ensure that residents from every community can share in the economic and cultural benefits that these organizations provide.”

The Rialto Center for Creativity project will breathe new life into Westfield’s 1920s-era Rialto Theater, transforming the landmark into a modern cultural hub. Plans include an adaptive reuse and a gut renovation. The first floor will be renovated to include a flexible performing arts and events space with a 450-person capacity, a lobby and ticketing area, a catering kitchen and cafe, dressing rooms, and a gallery space. The second floor will encompass four multi-use classrooms to be used for cultural arts education, workshops, and rehearsals, as well as admin space and a gallery. The building will also receive mechanical, geothermal wellfield, and heating, ventilation, and air conditioning (HVAC) upgrades, and will also be renovated to include an elevator.

The theater is positioned to serve as Westfield’s cultural arts hub, offering diverse programming across the visual and performing arts and generating year-round economic activity. Its operating model includes sliding scale rental fees, scholarships, and discounted ticketing to support broad community access. Additional plans include youth programming and partnerships with organizations serving individuals with cognitive and mobility challenges. The project was approved for up to $43.3 million in CAFE Program tax credits.

The Front of House project will reconfigure and expand the entrance and lobby area of Paper Mill Playhouse in Millburn. The project will address longstanding deficiencies in accessibility, circulation, and building systems, and will also replace outdated and undersized restrooms with modern, Americans with Disabilities Act (ADA)-compliant facilities, upgrade the mechanical, electrical, and plumbing systems, and will redesign main entrances and interior walkways to eliminate accessibility barriers. The new two-story lobby will feature box office, concessions and merchandising areas, monumental stairs and elevators, bathrooms, and an enlarged donor lounge.

The Paper Mill Playhouse is a statewide cultural asset that has a variety of programs for underserved schools and individuals with disabilities, as well as comprehensive accessibility programming and discounted and reduced cost access. The project was approved for up to $24.8 million in CAFE Program tax credits.

“I am deeply grateful to the NJEDA and the CAFE Program for this transformative investment in Westfield,” said Westfield Mayor Jeremy Berman. “The Rialto is one of our community’s most cherished historic landmarks, and its restoration represents an extraordinary opportunity to honor our past while investing in our future. As a vibrant arts and cultural anchor, the Rialto Center for Creativity will strengthen our downtown, support local economic development, and create a welcoming destination for residents, visitors, artists, and businesses alike.”

“The Paper Mill Playhouse is our crown jewel. We’re incredibly lucky to have a theater of this caliber right here in Millburn, and we are thrilled to see the State stepping up to support its future,” said Millburn Mayor Frank Saccomandi.

“The Rialto’s return marks a new chapter for Westfield and the region,” said Bill Crandall, President of the Rialto Board of Trustees. “Thanks to the NJEDA’s generous commitment to the arts, we’re rebuilding more than a theater; we’re creating a home where creativity thrives and people come together. Now we invite both individuals and institutions to help us cross the finish line. We are so thankful for and appreciative of the donors who are helping us meet our vision.”

“Paper Mill Playhouse is profoundly grateful to the New Jersey Economic Development Authority for supporting our Front of House renovation project,” said Mike Stotts, Executive Director of Paper Mill Playhouse. “The patron experience at Paper Mill will be greatly enhanced and improved for generations to come with the upgrades that are included in this project. Greater accessibility and a more thoughtful layout of our public spaces are the driving forces of this project, not to mention the upgrades to mechanical, plumbing, and electrical systems that are severely outdated and inefficient. Founded in 1938, Paper Mill Playhouse is the largest producing theatre in New Jersey, serving a statewide audience of over 200,000 people annually, including 40,000 students. Paper Mill’s Next Act Campaign is about ensuring that the legacy of this nationally renowned theatre continues for generations.”

About the NJEDA

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BeOne Medicines will expand its U.S. manufacturing presence in NJ

TRENTON, N.J. (July 23, 2026) – The New Jersey Economic Development Authority (NJEDA) Board approved a Next New Jersey Manufacturing Program award for Hopewell-based BeOne Medicines US Manufacturing Co., Inc. The entity is the manufacturing arm of its parent company, BeOne Medicines AG, a global oncology company recognized for developing innovative therapies for hematologic and solid tumor cancers. BeOne’s $300 million capital investment will result in 120 new full-time jobs.

The new facility is part of BeOne’s initiative to expand its U.S. manufacturing capabilities while strengthening its international supply chains. Following a comprehensive nationwide site selection analysis, BeOne chose New Jersey to build its small-molecule pharmaceutical manufacturing facility at its existing Hopewell Campus in Pennington.

“From Day One, I have been focused on cutting red tape and making New Jersey a better place to do business — and we’re thrilled to have companies like BeOne Medicines growing their footprint and creating additional jobs in the Garden State,” said Governor Mikie Sherrill. “BeOne’s expansion in Hopewell is a testament to New Jersey’s position as a global leader for innovation and as the medicine chest of the world. This investment will create more than 100 good-paying, high-tech jobs in the Garden State while strengthening America’s ability to produce life-saving cancer treatments.”

“It’s exciting that BeOne Medicines has decided to expand its manufacturing footprint in the United States and even more exciting that it chose New Jersey to build this major facility,” said NJEDA Chief Executive Officer Evan Weiss. “The pharmaceutical industry has a long legacy in New Jersey, and Governor Sherrill is committed to ensuring we remain the medicine chest of the world. The Next New Jersey Manufacturing Program is helping bolster the state’s manufacturing and pharmaceutical industries, drive job creation, and strengthen our economy.”

The new facility will be designed as a purpose-built, state-of-the-art manufacturing hub dedicated to small-molecule pharmaceutical product production, complementing the campus’s existing biologics manufacturing capabilities. The three-story, 145,000-square-foot facility will be designed to meet modern U.S. Food and Drug Administration (FDA) requirements, leveraging the campus’ established utilities, logistics systems, and operational framework. The facility’s core production areas will support one small molecule manufacturing line, with additional area pre-built for future expansion, and will be able to support all major unit operations required for tablet manufacturing.

“Every patient with cancer deserves innovative, high-quality medicines, and this expansion strengthens our ability to deliver them faster, reliably, and at scale as we work together to stop cancer,” said Aaron Rosenberg, Chief Financial Officer, BeOne Medicines. “Governor Sherrill’s support for this project and the State of New Jersey’s focus on advancing manufacturing were instrumental in making it possible. We are proud to be do our part by investing here, growing our team and manufacturing footprint, and continuing to deliver on our commitment to patients in the U.S. and around the world.”

BeOne opened its $800 million flagship U.S. manufacturing and clinical research and development facility in 2024 at the Princeton West Innovation Campus in Pennington. As a global oncology leader, the company focuses on treatments for a variety of cancers including blood, lung, gastrointestinal, breast and gynecological, as well as rare cancers.

“BeOne Medicines’ decision to make another major investment at its Hopewell campus is a strong vote of confidence in Mercer County and New Jersey’s highly skilled workforce,” said Senate President Pro Tempore Shirley K. Turner. “This $300 million expansion will create 120 full-time jobs, strengthen domestic manufacturing of critical cancer treatments, and help ensure that innovative medicines reach the patients who need them. I am pleased that the NJEDA is supporting this expansion, and I look forward to seeing it deliver lasting benefits for cancer patients, employees, taxpayers, and our regional economy.”

“BeOne’s decision to expand in New Jersey reflects the strength of our life sciences industry and the talented workforce that drives it,” said Assemblywoman Verlina Reynolds-Jackson (D-Hunterdon, Mercer). “This investment will create good-paying jobs, bolster our economy, and help ensure New Jersey remains a global leader in developing and manufacturing lifesaving medicines.”

“I’m proud to see the NJEDA supporting the manufacturing of life saving medicines right here in the 15^th Legislative District,” said Assemblyman Anthony S. Verrelli (D-Hunterdon, Mercer). “This is precisely what these tax credits are designed to do. They help support businesses, create jobs, and push the entire field of medicine further into the 21^st century. We can all be proud of that!”

“We’re excited that BeOne is continuing to expand its presence here in Mercer County, bringing high-quality jobs to our community and helping to solidify our role as a hub for innovation,” said Mercer County Executive Dan Benson. “Working alongside our municipal and state partners, we’re sending a clear message that Mercer County’s location, workforce, and infrastructure make us a great place for businesses to invest. Congratulations to Hopewell Twp, and I want to thank Governor Sherrill and the team at NJEDA for helping to secure this investment and look forward to building an even stronger partnership with the team at BeOne.”

“We are thrilled to welcome BeOne’s new small-molecule pharmaceutical manufacturing facility to Hopewell Township. BeOne has been an outstanding partner to our community, and after a nationwide search their decision to expand right here proves what we already know, that Hopewell Township and New Jersey are a great place to grow a business,” said Hopewell Mayor David Chait. “This project brings new jobs, new investment, and lifesaving medicines manufactured in our community, and we thank Governor Sherrill and the NJEDA for their support in making it possible.”

Far exceeding the program’s minimum investment and job creation requirements, BeOne qualifies for an award of $33.9 million over the course of five years.

About the NJEDA

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