Phase One of the Program has Approved Over $27 Million in Funding for 134 Child Care Centers to Date  

TRENTON, N.J. (February 9, 2024) – The New Jersey Economic Development Authority (NJEDA) Board on Wednesday approved Phase Two of the Child Care Facilities Improvement Program. The $5 million program will provide grants between $10,000 and $20,000 to registered Family Child Care homes (FCCs) to purchase furniture, fixtures, and equipment, supporting the improvement of health, safety, accessibility, and quality in the child care environment. New Jersey is home to over 1,300 registered FCCs, serving 6,500 children across all 21 counties.  

“When working parents have access to safe, high-quality child care, families thrive,” said First Lady Tammy Murphy. “Enabling providers to make upgrades and improve their quality of care through phase two of the Child Care Facilities Improvement Program will not only give parents peace of mind, it will also grow our state’s number of high quality child care providers and get us closer to Nurture NJ’s goal of becoming the safest and most equitable state to deliver and raise a child.”

“A thriving child care sector is essential to Governor Phil Murphy’s vision for a stronger and more inclusive economy. So many working families depend on Family Child Care homes for the safety and enrichment of their children,” said NJEDA Chief Executive Officer Tim Sullivan. “Phase Two of the Child Care Facilities Improvement Program expands eligibility to include these vital home-based operations, ensuring that registered FCCs all over New Jersey have access to the resources needed to provide quality child care services.”

Phase Two of the Child Care Facilities Improvement Program builds on the success of Phase One, which has already provided over $27 million in funding to 134 child care centers to date. Child care centers approved through the first phase of the program are located in 21 counties, serve more than 15,000 children, and employ over 3,000 teachers and administrators. Approvals under phase one of the program will continue in the coming months.

“The pandemic put a heavy strain on our already struggling, but vitally important, child care sector. That’s why I fought so hard to pass the American Rescue Plan to bring federal funding back to our state. It was heartening to see NJEDA create the Child Care Facilities Improvement Program with this funding—an effort that recognizes child care is the linchpin of our state’s economic potential.” said Congresswoman Mikie Sherrill (NJ-11).  “Over the past two years, Phase 1 has allowed child care centers throughout New Jersey to improve their facilities and care capabilities without having to worry about the overhead costs to do it. I applaud Wednesday’s announcement of Phase 2 to expand this great program to Family Child Care homes and look forward to seeing the immense impact it will have for our state and our economy. I will keep fighting to bring more resources back to New Jersey to ensure the stabilization of our child care sector.”

“This second round of funding is critical as it allows children in Family Child Care (FCC) homes to also benefit from enhanced learning environments that are healthy and safe,” said Senate Majority Leader M. Teresa Ruiz (D-Essex), who co-sponsored the Child Care Revitalization Fund, providing funding for the Child Care Facilities Improvement Program. “This next infusion of funds prioritizes 40 percent of grant funding to child care homes located in Opportunity Zones, underscoring our dedication to enhancing quality and accessibility across the state.”

Eligibility for Phase Two of the program is limited to registered Family Child Care homes that have enrolled at least one child receiving support from the New Jersey Department of Human Services (DHS) Child Care Assistance Program. Up to 40 percent of grant funding will be reserved for eligible applicants in Opportunity Zones. For more information, including eligibility requirements and qualified funding uses, click here.

“A thriving, high quality and affordable child care industry is critical for family and economic security, and the NJEDA’s Child Care Facilities Improvement Program is a key component of how our Administration is prioritizing families and child care providers,” said Sarah Adelman, Commissioner of New Jersey Human Services. “We applaud the Phase II expansion of access to capital for quality family child care providers, often in the very neighborhoods where families live and during hours when center-based care is harder to find. The families supported through our Child Care Assistance Program rely on stable, trusted child care providers in order to maintain employment or continue education, and this program will create a supportive ripple effect throughout communities.”

“ACNJ commends the NJEDA for ensuring FCC providers have access to funding through the Child Care Facilities Improvement Program grant. FCC providers are an integral part of the child care community and provide an invaluable service. Centering their unique needs to ensure equitable access is important to their sustainability and demonstrates a collective commitment to their success,” said Dr. Winifred Smith-Jenkins, Director of Early Learning Policy and Advocacy at Advocates for Children of New Jersey.

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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Authority reflects on evolution and momentum of job creation, business attraction, and community development over half a century

TRENTON, N.J. (February 9, 2024) – The New Jersey Economic Development Authority (NJEDA) kicked off the commemoration of its 50^th anniversary at its February board meeting on Wednesday morning. The NJEDA was established on August 7, 1974, by a bill signed by then-Governor Brendan Byrne, and sponsored by Assemblyman Herbert Klein. The bill was designed to create new jobs for the working men and women of New Jersey, by creating an authority that would seek to attract new industry and expand existing industry in the state.

“Fifty years and ten governors after its creation, the work of the NJEDA is more essential than ever as we continue to build and shape a stronger, fairer New Jersey economy that supports good-paying, family-supporting jobs of the future,” said Governor Phil Murphy. “The Authority’s role has continued to grow and evolve over the years as new challenges arise, and through it all, NJEDA has remained nimble, listening and responding to the needs of businesses and communities – large and small. As a result, we have unleashed extraordinary economic growth in recent years, transforming New Jersey into one of the best states in the nation to start or grow a business.”

Historically, the NJEDA’s core focus was traditional financing options such as loans, bonds, and tax incentives.  Under this administration, the NJEDA has expanded to include a vast array of innovative resources that can be adapted to the needs of New Jersey entrepreneurs, small businesses, municipalities, industries, and developers.  These offerings range from cannabis grants, to historic preservation tax credits, and offshore wind workforce development, to income replacement for entrepreneurs, new ways to help Main Street businesses grow, and the attraction of high-profile film projects.

“Time and again, Governor Murphy and the legislature have entrusted the NJEDA with developing and executing on resources that address the needs of New Jersey businesses, and proactively foster the growth of industries and development projects that can deliver on the promise of Governor Murphy’s Economic Development Strategic Plan,” said NJEDA CEO Tim Sullivan. “As we work to create opportunities for New Jerseyans from all backgrounds and foster the growth of New Jersey’s economy during 2024, we will continue to build on the momentum of 50 years of creating new jobs, driving economic activity, and revitalizing communities.”

Throughout its history, the NJEDA has stepped in to support New Jersey’s businesses during state and national crises. In the aftermath of Superstorm Sandy, the NJEDA delivered federal Community Development Block Grant – Disaster Recovery Program funds to small businesses and communities in the form of grants and loans. During the COVID-19 pandemic, the NJEDA created programs leveraging federal Coronavirus Aid, Relief, and Economic Security (CARES) Act money to help small businesses keep their doors open and staff on payroll. Since the pandemic, programs created under the Economic Recovery Act of 2020 have continued to help small businesses expand their operations and strengthen communities across the state.

The NJEDA continues to build on the foundation it has created over the last 50 years, with the understanding it has gained that economic development is not a one-size-fits-all proposition. The Authority’s commitment to creating equitable and inclusive opportunities will endure and evolve to ensure a thriving economy for New Jersey families and communities.

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. (February 8, 2024) – The New Jersey Economic Development Authority (NJEDA) Board approved $25.1 million in Real Estate Rehabilitation and Development Grants under the Activation, Revitalization and Transformation (A.R.T.) Program, to support projects that will help revitalize Atlantic City and Newark, two of New Jersey’s largest cities, which were particularly hard hit by a downturn in economic activity due to the pandemic. A total of 13 projects were approved for grants that will focus on the rehabilitation and renovation of current infrastructure, as well as the construction of new property. The projects will help create an environment necessary to attract and retain residents and talent, enable business creation and attraction, and enhance downtown vitality.

“New Jersey’s downtowns are essential to our state’s economy and culture and in the wake of the pandemic, Governor Phil Murphy has been committed to ushering in a resurgence in these downtowns,” said NJEDA Chief Executive Officer Tim Sullivan. “The funding awarded yesterday will allow entities to rehabilitate vacant and blighted properties to encourage businesses, commuters, and residents back to city centers.”

The A.R.T. program utilizes American Rescue Plan (ARP) State and Local Fiscal Recovery Funds (SLFRF) to reactivate and revitalize Atlantic City and Newark’s commercial corridors in the wake of COVID-19. Commercial corridors play a vital role in both urban and rural geographies, serving as economic engines for communities by providing jobs that keep money circulating in the local economy, offer goods and services for residents, and power entrepreneurship as well as wealth building.

“The sum of these funds – whether to establish dining venues, art studios, space for creative work and communal collaboration, or an agricultural and nutritional center –are each, and collectively, earmarked for the nourishment of all aspects of Newark’s vitality as a thriving community” said Newark Mayor Ras J. Baraka. “On behalf of all Newarkers, I thank NJEDA for these real estate and development grants so crucial to our present and future well-being and growth.”

“The Small administration has had much success in instilling investor confidence, making the Great City of Atlantic City a hub for future development once again,” said City of Atlantic City Mayor Marty Small, Sr.  “With the help of our partners with the NJEDA, we’ll be able to use this grant funding to push some of our major projects throughout Atlantic City forward, particularly in the Orange Loop area, which has undergone a significant renaissance in recent years.”

In December, the Board approved $3 million in Public Space Activation Grants under the A.R.T. program.

The following entities were approved for grants today:

Atlantic City

• 155 S Tennessee QOZB, LLC – $2,000,000
• The “Surf Lodge” project will create first floor retail space, a surf shop, and 12 residential units with a focus on building Atlantic City’s underdeveloped, yet significant, surfing destination status. Community surf culture will be developed through education/lessons while leveraging the Orange Loop’s scalable model of small, yet purposeful development on the beach blocks of Atlantic City.
• 1519 Boardwalk QOZB LLC – $1,975,000
• The project will consist of the rehabilitation of the former James Salt Water Taffy factory located at 1519 Boardwalk into a boutique hotel and fine dining restaurant. 1519 Boardwalk project plans include the buildout of the 28 room, 5 story “James Hotel”; a boutique luxury hotel concept; along with a 180-seat Southern/soul food restaurant, “Kelsey’s’ on The Boardwalk”.
• 2702 Arctic Ave Associates LLC – $2,785,319
• The project will focus on the rehabilitation of a vacant and blighted former hardware store at 2702 Arctic Avenue into a shared arts and co-working space with a small residential component.  “The Key” project will include a 5,000-square-foot open span, maintaining flexibility to be activated as community gathering space for senior and cultural activities; exhibit space for visual arts; or performing arts venue. Two residential units will provide an ongoing income source for project operations.
• MAP 3 Partners LLC – $2,484,850
• The entity will use the funding for the construction of The Orange Loop Container Park (OLCP), which will use renovated shipping containers to transform the vacant lot located at 1400 Pacific Avenue in Atlantic City with a unique business concept. Twenty-eight 8 ft x 20 ft shipping containers will be outfitted to house a hydroponic farm (for growing vegetables and mushrooms), retail spaces for local vendors, classroom/community activation space, a record pressing facility and recording/rehearsal studios. Plans also include rooftop outdoor seating and art installations, roadside murals along the backside of the containers, and installing a stage for live performances.
• MudGirls Studios – $604,609
• The nonprofit corporation will use the funding for the rehabilitation of a vacant storefront at 3711 Ventnor Avenue into a ceramics/pottery arts studio with retail, training, and office space. The new space will help grow MudGirls mission by providing opportunities and training in art and entrepreneurship to economically disadvantaged and at-risk women which will help transition them out of poverty and onto a pathway of self-sufficiency.

Newark

• Ablem Food Services NJ, LLC – $2,518,297
• Ablem Food Services will use the funding for the rehabilitation of a former office building space at 550 Market Street. “Melba’s 550” will include a 250-seat soul food inspired fine dining restaurant and large commissary kitchen for catering and satellite locations. The project is intended to create up to 250 jobs and looks to create long-term impact on the neighborhood by fostering community engagement, supporting local businesses, and increasing foot traffic.

• Delta’s Newark II, LLC – $3,494,933
• The entity will use the funding for the renovation of a historic bank building/hotel project located at 810 Broad Street. The new southern-Soul inspired fine dining project will include a 110-seat restaurant/music venue and a 120-seat rooftop lounge. The restaurant will occupy the existing 8,500 square foot of vacant restaurant space on the basement, first floor and rooftop levels.
• EqualSpace, LLC – $2,007,401
• Funding will be used for the renovation of multiple floors at 550 Market Street. The “=SPACE” is a shared space and incubator dedicated to providing a safe space for black and brown women, men, and those within the LGBTQIA+ community. The project includes three floors with resources for multiple types of entrepreneurs including virtual desk options up to head quarter office spaces for small business to medium size businesses. Amenities will include conference rooms, a podcast studio, classroom space, a multimedia studio, and an event space.
• Hospitality Concepts, LLC – $3,309,720
• The project will consist of the buildout of a vacant space at 110 Edison Place. “Katherine’s” will be a 175-seat restaurant, bar, microbrewery, and retail bakery. The project’s focus will be on revitalizing downtown Newark by filling a void of much-needed restaurant and event space and will support Newark’s arts & entertainment, catering, business events for the arts & entertainment, board of education, local/state government agencies, corporate partnerships, small businesses, and residential family needs. In addition, the brewery is planned to be leveraged as a tourist attraction for the city of Newark.
• Newark Science and Sustainability – $400,000
• Funding will be used for the new construction of classroom, office, and workspaces for an urban agricultural center located at 5 Fairmount Avenue. The “Garden of Hope Agriculture Hub and Sustainability Training Center” will create a Farm-to-Table cooperative, hold workshops on nutrition, urban farming, and generational sustainability, increase access to local food via farmers markets and the develop policy that encourages more consumption of local foods via Supplemental Nutritional Assistance Program (SNAP), Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), and other assistance programs.
• New Jersey Performing Arts Center – $1,500,000
• New Jersey Performing Arts Center requested $1,500,000 to fund the Acquisition of land for the renovation and adaptive reuse of a former Episcopal Church office building. The “Cooperman Family Arts Education and Community Center Annex”, located at 31 Mulberry Street, will house educational classrooms, community gathering spaces and office space for NJPAC’s staff. The project will accommodate additional space needed for NJPAC’s expanding programs in Arts Education, Community Engagement, Arts & Well-being, and the creation of new performance work.
• Project for Empty Space – $1,010,189
• The project will consist of the renovation of a former office space into nearly 36,500 square feet of studio and public programming space on four floors of 800 Broad Street and the renovation of a former lobby space into a public gallery with 3,700 square feet of ground floor, park-facing space at 110 Edison Place in Ironside Newark. The project would allow Project for Empty Space to provide more public programming for growing audiences, and provide additional studio space, art production workshop, materials, and career development opportunities at a more deeply subsidized rate for local, working artists.
• RBH-TRB East Mezz Urban Renewal Entity, LLC – $1,061,312
• Funding will be used for the renovation of a vacant storefront in the Teacher’s Village complex located at 23 William Street. The project will create a new Newark Glass Art Center, including studios, classrooms, and offices, for GlassRoots, the 22-year-old Newark-based glassmaking nonprofit. The project will include galleries, educational spaces, offices, and arts workshops that serve as an anchor arts institution within Newark’s Arts and Education District and deepen its impact through continued and new programs with schools and community partners.

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

NJ Entrepreneur Support Program provides guarantees to support investments into Garden State companies 

TRENTON, N.J. (February 5, 2024) – The New Jersey Economic Development Authority (NJEDA) continues to accept applications for the New Jersey Entrepreneur Support Program, which was launched in 2020 to help Garden State entrepreneurs navigate COVID-19 related cashflow constraints, then relaunched in March of 2023 in light of challenges in the economy and venture banking system. The $5 million program encourages investors to provide additional funding to businesses by providing an NJEDA guarantee on loans advanced for working capital purposes.

According to estimates from PitchBook, venture capital and angel investment activity has declined since 2021, with a 40 percent reduction in the amount of companies receiving investment and a 50 percent decrease in investment funding. To respond to declining investment activity and unsteady market conditions, especially in the life sciences sector, the NJEDA aims to boost investor confidence in New Jersey companies and increase access to capital for founders through the Entrepreneur Support Program.  

“Increased investment into New Jersey companies is essential to supporting Governor Phil Murphy’s vision of bolstering the Garden State’s longstanding leadership in innovation,” said NJEDA Chief Executive Officer Tim Sullivan. “Especially in industries like biotechnology, the New Jersey Entrepreneur Support Program provides a unique solution to assist New Jersey companies in their financing endeavors when opportunities for private investment are not available.”

The NJ Entrepreneur Support Program provides investors with a one-year guarantee of up to 80 percent on a convertible note or bridge loan to a qualifying company. Multiple notes or loans to a qualified company can receive guarantees up to a maximum of $400,000 per company. To qualify for the program, a company must have an office located in New Jersey with a minimum of 50 percent of employees located in the state, have fewer than 225 employees, and be a part of at least one NJEDA targeted industry. For a full list of targeted industries, click here. Qualified investors under the program must be independent from the company, and the proposed investment must not mature for at least one year, cannot require payment for at least a year, and must be unsecured.

For a full list of eligibility requirements and further information on the program, visit https://www.njeda.gov/njesp/.

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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Golden Seeds’ New Jersey Chapter, supported by the NJEDA, Empowers Women Entrepreneurs Through Increased Access to Capital and Mentoring Opportunities

NEW BRUNSWICK, N.J. (February 2, 2024) – The New Jersey chapter of Golden Seeds partnered with the Rutgers University Foundation to hold an angel investing forum in New Brunswick earlier this week, bringing entrepreneurs, investors, and alumni together for networking and pitching opportunities to support innovative women-led businesses. Supported by First Lady Tammy Murphy and the New Jersey Economic Development Authority (NJEDA), the New Jersey chapter of Golden Seeds aims to close the funding gap faced by female-led startups and support their success by increasing access to capital and creating mentoring opportunities with angel investors and successful entrepreneurs.

“The New Jersey chapter of Golden Seeds continues to create opportunities for women-led startups and our state’s female entrepreneurs, leveraging a robust national network of angel investors to create a more equitable economy,” said First Lady Tammy Murphy. “Through collaboration with the Garden State’s leading research universities, Golden Seeds is ensuring the next generation of female founders has the resources and support they need to grow.”

The forum featured presentations from innovative founders and investors and provided networking sessions for attendees to discuss personal experiences and investment opportunities. The event also highlighted women innovators who are creating New Jersey-based startups based on Rutgers Research discoveries.

Opening remarks from NJEDA’s Chief Economic Transformation Officer Kathleen Coviello, Rutgers University Foundation Vice President for Central Fundraising and Engagement Irene O’Brien, and Rutgers University Office for Research Executive Director of Technology Transfer Deborah Pérez-Fernández, focused on the importance of creating pathways for women-led startups to succeed in New Jersey’s innovation economy and the role of universities as staging grounds for inventive ideas and research.

“Female founders face significant barriers in accessing capital and investment, and under Governor Phil Murphy’s leadership, New Jersey has led the way in creating an environment for early-stage, female-led startups to thrive,” said Coviello. “New Jersey Golden Seeds provides opportunities for entrepreneurs to connect with experienced investors and leaders of world-class research institutions, arming them with the tools they need to expand and grow in the Garden State”

“The Rutgers researchers who presented at today’s Golden Seeds Angel Investing Forum are emblematic of the amazing work being conducted across the Chancellor-led units, and the Office for Research is proud to have supported them in their entrepreneurial efforts,” said Deborah Perez Fernandez, Executive Director of Technology Transfer. “The Office for Research (OfR) collaborates with faculty, researchers, and students to help commercialize their ideas, whether through licensing or launching a startup. Currently, there are 100 active Rutgers startups, including those who presented today, all working to address world-wide challenges in such fields as medicine, climate change, mental health, and digital safety. We are honored to work with all our great innovators as part of the OfR’s mission to support the research, scholarship, and creative endeavors of ALL Rutgers faculty.”

Founded in 2005, Golden Seeds is one of the nation’s most active early-stage investment firms focused on creating opportunities for women-led businesses, investing over $175 million in over 240 companies. Golden Seeds’ members are dedicated to evaluating, funding, and helping companies with at least one woman in an upper management role who has an equity position.

To support Governor Murphy’s goals of building a stronger and fairer New Jersey economy and creating the most diverse innovation ecosystem in the nation, First Lady Murphy and the NJEDA organized the New Jersey chapter of Golden Seeds in 2020, contributing to the creation of a strong, cohesive, and equitable angel investing community that supports the growth of women-led businesses. To date, the New Jersey Golden Seeds chapter has invested over $9.5 million in female-led companies.

“Golden Seeds extends unique tools to women-led companies, offering access to a robust network of angel investors and successful entrepreneurs and providing crucial information on investment strategies and innovative programs that the Garden State offers,” said Golden Seeds Managing Director Gina Tedesco. “This week’s event with Rutgers University highlighted the inventive ideas and businesses emerging out of New Jersey’s universities, bringing alumni investors and female founders together for engaging presentations and discussions. Women entrepreneurs continue to face barriers in accessing capital, but through the efforts of Golden Seeds and the NJEDA, they have the resources and network they need to grow and thrive.”

The New Jersey chapter of Golden Seeds holds monthly Office Hours to connect entrepreneurs and Golden Seeds members and provide information on the angel investing process. To sign up for an Office Hours session, click here.

Investors interested in Golden Seeds membership and the broader angel investing community can join an online forum to observe members as they consider future investments. For more information, visit https://goldenseeds.com/angel-network/interested-in-joining/.

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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NJ productions recently showcased at Golden Globes, Emmy’s & Sundance Film Festival

TRENTON, N.J. (January 25, 2024) – The New Jersey Economic Development Authority (NJEDA) today hailed the Oscar nominations showered on Oppenheimer and several other films with ties to New Jersey, as a testament to the momentum of the state’s film industry. Oppenheimer, the smash hit that broke box office records and received over a dozen Oscar nominations, including Best Picture, filmed portions of the movie in New Jersey. Receiving the most nominations of any film in the 2024 award cycle, Oppenheimer joins a long line of notable motion pictures filmed in New Jersey. A number of other productions filmed in New Jersey won major accolades earlier this month.

The Oscar awards are the latest major venue to feature productions filmed in the Garden State. Several movies and television shows also won Golden Globe and Emmy awards, and others were featured at this year’s Sundance Film Festival.

“New Jersey’s film industry continues to grow momentum as more and more major productions choose our state to film,” said NJEDA Chief Executive Officer Tim Sullivan. “From the Oscars, Emmy’s, and Golden Globes to the Sundance Film Festival, productions filmed in New Jersey are making headlines. Under Governor Phil Murphy’s leadership, the Garden State is poised to build upon this momentum, and we are ready to welcome new productions, which will create jobs and support small businesses.”

Oppenheimer, which is an NJEDA Film and Digital Tax Credit project, led the pack with 13 Oscar nominations, including for Best Picture, Best Actor, and Best Director. The hit-movie also received five Golden Globe awards, including for Best Motion Picture. Several of the movie’s scenes were filmed at Princeton University and the Institute for Advanced Study in Princeton.

Killers of the Flower Moon was nominated for 10 Oscar nominations. Actor Peter Yorn, a member of the film’s cast grew up in Montville. Yorn’s brother, Rick Yorn, was the film’s executive producer. Thelma Schoonmaker, a Ridgewood native, was also nominated for film editing.

Ramy Youssef, originally from Rutherford, starred in Poor Things, which received 11 nominations. The Holdovers, received five nominations, and stars Dominic Sessa, an Atlantic County native who grew up in Ocean City and Egg Harbor Township.

HBO hit-television drama Succession received an Emmy and two Golden Globe awards. Extensive filming for the fourth and final season of the show took place at CNBC Studios and the NBCUniversal Technology Center in Englewood Cliffs and Liberty State Park in Jersey City.

The 2024 Sundance Film Festival is featuring seven productions that were filmed in New Jersey. Filming for the productions took place in locations across the state including in Bergen, Essex, Hudson, Monmouth, Morris, Passaic, and Union Counties. This year’s event marks Sundance’s 40^th anniversary.

Oppenheimer and nearly 150 productions to-date have recently been attracted to New Jersey by the state’s Film Tax Credit Program, which offers eligible production companies up to 35% transferrable tax credit on qualified film production expenses, plus an additional 2% or 4% diversity bonus for qualified productions. Since the revival of the tax credit program, production has been booming in the Garden State, unlocking opportunities for thousands of businesses, residents, and filming locations across New Jersey.

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

Authority seeks input to better understand challenges faced by arts entities seeking access to capital

TRENTON, N.J. (January 16, 2024) – The New Jersey Economic Development Authority (NJEDA) today issued a Request for Information (RFI) seeking insight to better understand the challenges and opportunities faced by arts and cultural non-profit and for-profit organizations, institutions, and arts entrepreneurs in accessing capital. The RFI is available at Bidding Opportunities – NJEDA.

As part of the Murphy Administration’s ongoing efforts to support arts and culture, this RFI aims to build on the New Jersey State Council on the Arts’ tremendous knowledge base and community engagement process by exploring new and innovative funding solutions to help grow New Jersey Arts and Culture businesses and non-profits by addressing barriers to capital. Additionally, the NJEDA also seeks interest and ideas on solutions to address those obstacles, including but not limited to, existing programs that address gap financing due to lack of philanthropic capital for non-profit entities. The NJEDA is interested in receiving comments, questions, recommendations, facts, information, ideas, and responses that will help the NJEDA better understand the scope and characteristics of access to capital and other forms of financing available to arts and culture entities.

New Jersey’s core arts and culture entities directly accounted for $4.6 billion in revenue in 2021 with an additional $18 billion in revenue from indirect impact in other supporting industries like broadcasting, logistics, and publishing. The combined impact of arts and culture industries account for 3-5 percent of New Jersey’s gross domestic product, as well as 3.1 percent of the state’s workforce.  In 2022, arts and culture non-profits alone accounted for $338.5 million in spending, with their audiences spending an additional $193.8 million in event-related expenditures. 

“I am proud of the historic investment the Murphy administration has made through the Arts Council in supporting arts organizations and artists across New Jersey,” said Lieutenant Governor Tahesha Way, who oversees the New Jersey State Council on the Arts in her capacity as Secretary of State. “We look forward to seeing the results of the RFI and building on the state’s strategic support of the arts community in new ways through the NJEDA.”

“Arts and culture entities create job-sustaining revenue for New Jersey Main Streets and communities, generating hundreds of millions of dollars in direct and indirect economic impact each year, all while representing the diversity and talent of New Jersey’s artists and creatives,” said NJEDA Chief Executive Officer Tim Sullivan. “Understanding the challenges faced by entities in this important sector is an essential component of Governor Murphy’s vision for a stronger and fairer New Jersey economy, and helps bolster economic support for an industry adversely impacted by the coronavirus pandemic.”

“New Jersey is home to a dynamic arts industry that contributes to quality of life in indispensable ways. From the smallest neighborhoods to the largest cities, artists and arts organizations keep people connected, offering inroads to address complex problems we all care about – from the economy to education to healthy aging, and everything in between,” said Allison Tratner, Executive Director of the New Jersey State Council on the Arts. “The last few years have brought great challenge and change in almost every industry, and the arts are no exception. As the largest funder of the arts in New Jersey, the Council is excited to work with the NJEDA to make sure our collective efforts to lift this essential industry are as effective as possible. Thanks to Governor Murphy’s historic support of the arts, we have the opportunity to strategically, transparently, and equitably invest public resources to help build a better New Jersey for people of all ages and walks of life, through the arts.”

“ArtPride New Jersey applauds the NJEDA’s efforts through the RFI to more fully comprehend the current capital challenges facing the state’s arts and culture sector. New Jersey’s creative industries have long been undercapitalized, and the COVID pandemic exacerbated this risk with earned and contributed income building back more slowly than is needed to function sustainably. At the same time, and without pause, the arts and culture sector continues to benefit communities through its direct impact on local retail, hospitality, tourism, education, and healthcare. The economic vitality of our downtowns depend on healthy and highly functioning arts and culture organizations and creative sector businesses supported by the NJEDA’s suite of products and programs,” said Adam Perle, President & CEO, ArtPride New Jersey.

“Arts and culture nonprofit organizations form the bedrock of the cultural landscape in New Jersey communities.  These organizations not only catalyze economic activity.  They also contribute to social cohesion, community wellbeing, and overall quality of life,” said Lynne Toye, Executive Director of the New Jersey Arts & Culture Renewal Fund.  

“As smaller cultural nonprofits navigate a variety of post-pandemic challenges, access to capital is among the biggest hurdles,” she continued. “I am excited to help advance the NJEDA’s efforts to understand the challenges arts organizations face more thoroughly, especially as funding sources shrink in our post-pandemic world,” said Barbara Bickart, Senior Advisor, Arts and Culture, NJEDA, and practicing artist for over 20 years. “This Arts & Culture-focused RFI presents the opportunity to hear directly from many organizations across the state about their particular challenges, whether it be accessing funding or other obstacles a State agency could potentially help to remove or mitigate. This input will inform our strategy moving forward as we work towards lifting the arts community up in whatever ways we can.”

All questions must be submitted in writing on later than Tuesday, January 23rd at 12 pm EST via e-mail to ArtsCulture@njeda.gov.

The subject line of the e-mail should state: “QUESTIONS-2023 RFI-193 Capital for Arts & Culture”.

Answers to questions submitted will be publicly posted on the Authority’s website on or about on or about Tuesday, February 6th  at: Bidding Opportunities – NJEDA as Addendum.

All RFI responses must be submitted in writing no later than Tuesday, February 13^th at 11:59 pm EST via e-mail to: ArtsCulture@njeda.gov.

The subject line of the e-mail should state: “RFI Response-2023-RFI-193 Capital for Arts & Culture”.

Potential respondents may include, but are not limited to, for-profit and non-profit entities, philanthropic partners, higher education institutions, community development organizations involved in arts-based placemaking, arts industry advocacy organizations, state and local government entities, and other stakeholders with perspectives on structural barriers and disparities encountered by arts and culture entities in terms of access to capital. Respondents do not need to be located within the New Jersey to provide input.

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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