Over 2,300 small businesses have received support through the Main Street Recovery Program

TRENTON, N.J. (May 1, 2023) – In recognition of National Small Business Week (April 30 – May 6,) the New Jersey Economic Development Authority (NJEDA) today announced it has issued $85 million in grants and loans to over 2,300 small businesses since the launch of the Main Street Recovery Program in October 2021. Created under Governor Murphy’s Economic Recovery Act (ERA) of 2020, the Main Street Recovery Program provides a comprehensive suite of products designed to support New Jersey small businesses.

“From Cape May to Sussex County, small businesses serve as the backbone of New Jersey’s economy, and especially during the COVID pandemic, supporting our main streets was an essential component of ensuring the sustained vibrancy of our communities and their economic resiliency.” said Governor Phil Murphy. “Under the Main Street Recovery Program, New Jersey continues to invest in our small businesses and their owners, ensuring that our state and local economies continue to thrive today, tomorrow, and for years to come.”

The NJEDA also announced three webinars that will take place during National Small Business Week to highlight resources the NJEDA and other state partners offer to support small business owners. A Spanish-language webinar will be held today, Monday, May 1. A webinar for North Jersey small businesses will be held on Tuesday May 2, and one for Central and South Jersey businesses will be held on Thursday, May 4.

Gov. Murphy’s Fiscal Year 2024 budget proposal includes an additional $50 million for the Main Street Recovery Program.

“Under Governor Murphy’s leadership, New Jersey continues to prioritize small businesses by providing them with a suite of products designed to ensure that they have the tools necessary to succeed,” said NJEDA Chief Executive Officer Tim Sullivan. “When the pandemic hit, the NJEDA, under the Economic Recovery Act, worked diligently to craft a suite of products that injected millions of dollars of capital into New Jersey’s main streets. Today, the Main Street Recovery Program has supported and continues to assist thousands of small business owners expand and thrive.”

The Main Street Recovery Program is budgeted to provide $150 million to support the growth and success of small businesses as they emerge from the COVID-19 pandemic. Since the program launched in 2021, 330 small businesses have been approved for the Small Business Lease Grant, which provides funding to help businesses who leased new space or expanded their commercial space. 1,250 small businesses have been approved for the Small Business Improvement Grant, which reimburses grantees for 50 percent of the cost of capital improvements, furniture, fixtures, and equipment at their facilities.

In June 2022, the NJEDA launched the Main Street Micro Business Loan to help early-stage micro businesses access up to $50,000 in financing. Since it launched, 735 New Jersey micro businesses, which typically face hardships in accessing traditional financing, have received a combined $35.4 million.

Morph Mentoring, an organizational development corporation located in Neptune, Monmouth County, received the Small Business Lease Grant, which helped it maintain its original location and open a second location. With the Micro Business Loan, Morph Mentoring increased its marketing and improved its online presence.

“I am honored and very appreciative of all the help Morph Mentoring received from the NJEDA,” said Chelsey Brunson, Owner and CEO of Morph Mentoring. “With this incredible funding, we have been able to sustain and expand our business significantly. From doubling our staff to opening a second location, this would not have been possible were it not for the NJEDA support.”

In Marlton, Burlington County, Zed’s Beer is using a Micro Business Loan to invest in larger contracts with suppliers, allowing the company to manage lingering supply chain shortages. The South Jersey brewery was also able to use the Small Business Improvement Grant to offset the cost of creating an outdoor space to accommodate patrons during the pandemic. Zed’s was also able to keep its entire staff on payroll during the pandemic and purchase PPE with the help of NJEDA COVID-relief programs.

“Access to more working capital lets us make better deals than we would have been able to make with tighter cash flow, helping keep our prices down, and maintaining similar margins to what we had pre-COIVD,” said Lori White, co-founder of Zed’s Beer. “We are grateful that, with the support from the NJEDA, we were able to keep our staff, grow our business, and keep serving our loyal customers across South Jersey.”

With the Small Business Improvement Grant, the Micro Business Loan, and COVID-relief programs, Arepa Express in Passaic was able to grow its business, avoid staff layoffs, and continue paying its rent and utilities. Additionally, Arepa Express purchased new kitchen equipment and made an outdoor seating area for guests.

“Without help from the NJEDA, it would have been very difficult to continue running my business,” said Jenny Zapata, owner of Arepas Express. “With their support, we were able to keep our doors open and continue serving our community. I am very grateful for the NJEDA assistance we received.”

The NJEDA recently launched two additional initiatives under the Main Street Program. The Small Business E-Commerce Support Program opened in March 2023 to help restaurants, retailers, and personal care businesses that rely on in-person transactions implement the technological capabilities they need to accommodate pandemic-related health guidelines. This product offers free e-commerce and digital marketing consulting services that are performed for small businesses in the three aforementioned industries that operate from a commercial location. The NJEDA has partnered with seven consultants to assist eligible small businesses with services such as website development and optimization, online ordering making appointments electronically, and digital marketing plans. More information is available here.

In November, the NJEDA announced the awarding of over $11 million to eight lenders and financial institutions through its Main Street Lenders Grant to expand their capacity to support small businesses. The Main Street Lenders Grant provides grants to eligible Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), and other entities that have at least 10 years of experience lending to small and micro businesses. The Main Street Lenders Grant offers eligible lenders grants of up to $1.5 million each, with up to $500,000 reserved for technical assistance needs. Approved entities are providing flexible and low-cost financing through working capital term loans to qualified micro businesses, as well as technical assistance to help micro businesses access capital.

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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Agreements with Camden County College and Camden County Technical Schools will Further Support Offshore Wind Talent Pipeline

TRENTON, N.J. (April 21, 2023) – The New Jersey Economic Development Authority (NJEDA) has announced two agreements to establish sub-arc welding programs at Camden County College (CCC) and Camden County Technical Schools (CCTS). Over $300,000 in funding will be distributed to the two schools to train workers for careers in heavy steel offshore wind component manufacturing.

Sub-arc welding is a welding specialty utilized in large-scale component manufacturing, including for the fabrication of monopiles, which are used as the foundation of offshore wind turbines. As identified in “New Jersey’s Offshore Wind Workforce Assessment Through 2035,” welders are considered to be one of the greatest in-demand occupations for New Jersey’s growing offshore wind industry. By creating training programs with local institutions, New Jersey will continue to provide industry-leading, good-paying jobs, while growing a diverse and well-trained workforce across the emerging offshore wind sector.  

“The agreements with CCC and CCTS add to the momentum underway towards meeting New Jersey’s clean energy goals through strategic investments in offshore wind,” said NJEDA Chief Executive Officer Tim Sullivan. “Governor Phil Murphy has prioritized building a pipeline of talent for the offshore wind sector in an inclusive, equitable manner that creates opportunities for all New Jerseyans. The State’s highly respected community colleges and technical schools are key partners in providing access to essential training to ensure applicants have the proper skills for the wind industry’s growing opportunities.”

These agreements build on the efforts of the New Jersey Wind Institute for Innovation and Training, which continues to create opportunities through offshore wind workforce development programs. Through the sub-arc welding agreements, students will be equipped to fill positions at manufacturing companies such as EEW Offshore Structures at the Port of Paulsboro. Similar training agreements exist with Gloucester County Institute of Technology and Salem County Vocational Technical Schools.

“We are excited to expand the reach of our offshore wind training programs to Camden County and provide students at these two institutions an opportunity to acquire well-paying positions in the offshore wind industry,” said NJEDA Vice President of Offshore Wind Jen Becker. “These welding training opportunities add to our investment in offshore wind training and demonstrate our commitment to ensuring available local talent for the future of offshore wind. as we work towards Governor Murphy’s vision for a stronger, fairer New Jersey.”

CCC will integrate sub-arc welding into its evening welding program for adults and establish a new sub-arc training program for individuals with prior welding experience. Five scholarships will also be made available for CCC students. NJEDA funding will also support marketing and promoting these programs to attract a diverse array of participants. 

“We are enthusiastic to work with the NJEDA, industry stakeholders, and all the partners in this endeavor to fill the talent pipeline,” said Camden County College President Dr. Lovell Pugh-Bassett. “This partnership advances our mission to provide technical and career training for the residents of South Jersey. We are excited to offer this new curriculum that leads to jobs in sub-arc welding.”

The funding will help CCTS, a four-year vocational-technical public school, integrate sub-arc welding into its current training programs and establish an afterschool program to train senior level high school students in Camden County with introductory and sub-arc welding, and other related, skills. Five scholarships will be made available for afterschool students. Relatedly, but through a separate funding source, the school is adding a $2.8 million welding center to its Pennsauken campus, which will expand the number of welding students CCTS can serve. 

“We are proud to partner with the NJEDA and the Wind Institute on these training programs,” said CCTS Superintendent Frederick Cappello. “We have a unique window to get involved with the development of New Jersey’s offshore wind industry by training workers from our Pennsauken and Sicklerville campuses. We look forward to helping our students acquire these in-demand, high-paying positions.”

“Expanding training and education opportunities for New Jersey residents is critical as our State works towards closing gaps in the talent pipeline and strengthening the state’s innovation ecosystem,” said Dr. Brian K. Bridges, NJ Secretary of Higher Education. “This agreement is a shining example of how academic and industry partners across New Jersey are coming together to create opportunities as a means of addressing the problems of tomorrow.”

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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Program offers loans to finance clean energy projects or the creation or expansion of clean energy businesses

TRENTON, N.J. (April 12, 2023) – The New Jersey Economic Development Authority (NJEDA) will host a virtual public information session on the New Jersey Clean Energy Loans (NJ CELs) Program on Monday, April 17 at 1:00 p.m. The session will provide information on program eligibility, loan terms, engagement with banking partners, and the application process.

NJ CELs is an $80 million co-lending program created by the NJEDA for small businesses seeking to finance qualifying clean energy projects or for the formation or expansion of clean energy businesses that create jobs in state.

The program’s funds come from the U.S. Treasury’s State Small Business Credit Initiative (SSBCI), which was reauthorized under the American Rescue Plan in order to stimulate state and local economies in the wake of COVID-19. NJ CELs will offer loans of $500,000 to $20 million with a term of one to 25 years, with the NJEDA financing up to 50 percent of the total loan amount ($250,000 to $10 million). NJEDA loans must be matched at least dollar for dollar with capital from a financial institution. NJ CELs will unlock capital for small businesses and start-ups, catalyze the deployment of clean energy in New Jersey, and support minority-, woman-, and veteran-owned businesses to participate in the State’s energy transition.  

Potential applicants, banking partners, and other interested parties, including members of the media, can register for the April 17 information session here. A recorded version of the webinar will be posted at https://www.njeda.gov/njcels/ following the event.

Applications for the NJ CELs program open Wednesday, April 19, 2023, and will be available here.  Those considering applying may conduct an Eligibility Self-Assessment here. Financial institutions interested in offering the benefits of the NJ CELs program to their clients can find information here, and may complete an expression of interest form here.

To be eligible, an entity must have fewer than 750 Full-Time Equivalent (FTE) employees and be seeking financing for a clean energy business or project located in New Jersey. Complete eligibility requirements can be found here.

Businesses certified as minority-, woman-, or veteran-owned, as well as businesses or projects located in an overburdened community, are eligible for an additional one percent rate reduction and ten percent loan forgiveness if the project results in at least one job being created per $100,000 of aggregate loan. 

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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The Phase I Joint Ventures Grant will award $250,000 to eligible recreational cannabis businesses

TRENTON, N.J. (April 12, 2023) — In recognition of 4/20 and National Cannabis Awareness Month, the New Jersey Economic Development Authority (NJEDA) announced yesterday that the application for Phase I of its $10 million Cannabis Equity Grant Program will open on Thursday, April 20, 2023, at 9:00 a.m. The Phase I Joint Ventures Grant will provide eligible startups with a grant of $250,000.

The Cannabis Equity Grant Program is focused on supporting businesses and startups in the recreational cannabis industry and ensuring communities that were adversely impacted by the War on Drugs have equitable access to the industry. To this end, 40 percent of the Phase 1 Joint Ventures Grant funding is reserved for qualifying social equity applicants primarily characterized as those who have previous cannabis convictions or live in economically disadvantaged areas. Additionally, 5 percent of the total program funding is reserved for businesses located in Impact Zones, which are areas targeted based on previous levels of marijuana arrests, population, unemployment rates, and other socioeconomic factors.

“Since cannabis legalization more than two years ago, the NJEDA has had impactful discussions with cannabis startups, community leaders, and advocates in order to create a program that brings equity and economic opportunity to communities and individuals who have been disproportionately impacted by the War on Drugs,” said NJEDA Chief Executive Officer Tim Sullivan. “This program will not only ensure equitable access to capital, but also spur economic growth and job creation in communities across the state. The NJEDA is committed to supporting entrepreneurs in this growing industry, which will help bring us closer towards Governor Murphy’s goal of creating a stronger, fairer New Jersey.” 

“While the cannabis industry is continuing to thrive and expand, we must ensure that those most negatively impacted by the War on Drugs are not locked out of the industry. A primary focus of the Cannabis Equity Grant Program is to help address this inequity by supporting entrepreneurs and small businesses,” said NJEDA Chief Community Development Officer Tai Cooper. “Cannabis entrepreneurship opportunities can play a crucial role in returning wealth to individuals and communities that have unfairly suffered as a result of the criminalization of cannabis. Ensuring access to these opportunities will help create jobs and bolster New Jersey’s entire economy.”

The Joint Ventures Grant will allocate a total of $6 million in funding to 24 entities that have a conditional or annual license, have obtained site control over their real estate, and have municipal approval. The goal of the Joint Ventures Grant is to support businesses that do not need technical assistance but still have carrying costs and capital issues associated with converting their conditional license to an annual license. This grant will be disbursed in two rounds with the first allocation in the amount of $100,000 occurring upon the execution of the grant agreement. The second disbursement of $150,000 will occur once the grantee receives its annual license and demonstrates that it utilized the first disbursement for eligible costs.

A free eligibility assessment tool is available online for those looking to verify if their business meets the requirements. Eligible applicants must have formed their business after March 9, 2020, and employ 50 or fewer full-time employees. Eligible uses for the Joint Ventures Grant include expenses such as rent and mortgage payments, payroll and independent contractors, utilities, legal, accounting, marketing, and more. To learn more about the program and the eligibility requirements, visit the NJEDA website.

Applicants who are not eligible for the Joint Ventures Grant may qualify for Phase II of the program that will launch later this year. The Phase II Seed Equity Grant of $150,000 is solely for applicants who meet the New Jersey Cannabis Regulatory Commission’s criteria for social equity and have obtained a conditional license but have not secured the real estate or municipal approval and need assistance in converting their conditional license to an annual license. Additionally, all applicants who do not qualify for the Phase I grant will be connected to training and other programmatic resources.

About 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 www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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NJEDA issues RFQ for three service providers to anchor first-of-its-kind center; advance First Lady Tammy Murphy’s Nurture NJ strategic plan

NJEDA also seeking expressions of interest from community partners

TRENTON, N.J. (April 3, 2023) – The New Jersey Economic Development Authority (NJEDA) today took its next step toward developing the Trenton-based Maternal and Infant Health Innovation Center, which is central to First Lady Tammy Murphy’s Nurture NJ initiative, by issuing a Request of Qualifications (RFQ) for three anchor tenants to lead the Center. The NJEDA is seeking a health care services provider, an Institution of Higher Education (IHE), and a Trenton-based Multi-Service Organization (MSO) to serve as initial anchor tenants at the Center. These three Lead entities will work collaboratively to provide services to New Jersey expectant and new parents and babies, advance the growth and development of the perinatal workforce, and deliver maternal and infant health policy, research, and innovation focused on eliminating racial disparities in maternal and infant health outcomes.

In tandem with the RFQ, NJEDA is seeking expressions of interests from organizations that may not meet the qualifications for or are not interested in serving in a Lead role but may be interested in providing direct services or establishing partnerships with the Center or the selected Lead partners. This builds on the Murphy Administration’s commitment to elevate community voices in the creation of the Center.

“The Maternal and Infant Health Innovation Center, through cutting-edge research, data analysis and innovation, will truly be a one-of-a-kind hub for developing groundbreaking solutions to our maternal health crisis,” said First Lady Murphy. “At its core, this center is designed to create innovative models of care and policy that will transform maternal health care locally in Trenton, across our state, and simultaneously serve as a resource for any and all communities across our nation looking to tackle similar disparities. Importantly, the center will be able to continue our vital work long after the Murphy administration, and we look forward to sharing our best-in-class policies, programs and innovations to better support every mother and baby in our state and country.”

“This first-of-its kind Center dedicated to maternal and infant health innovation will ensure Trenton moms and newborns receive the high-quality care and services they need to thrive. But beyond the health care implications, the Center will spur development, create good-paying jobs, support families, and generate economic activity,” said NJEDA Chief Executive Officer Tim Sullivan. “Under Governor Murphy and First Lady Murphy’s leadership, New Jersey has put this cause at the core of its mission of building a more equitable state. When we invest in families, we invest in communities’ long-term growth and prosperity.”

The creation of the Center is a key recommendation from Nurture NJ’s Maternal and Infant Health Strategic Plan, which is a roadmap to reduce the state’s maternal mortality rates by 50 percent over five years, and to eliminate racial disparities in birth outcomes. The Center is intended to catalyze new innovations to drive improved maternal and infant health outcomes and to serve as a central hub for New Jersey’s stakeholders dedicated to improving the health of New Jersey’s babies and mothers.

The RFQ released today seeks to identify three lead tenants for the development, programming, and ongoing operations of the Maternal Infant and Health Innovation Center. Together the tenants will focus on several key components including comprehensive clinical services; academic research and workforce training; and wrap-around social services. The tenants will work collaboratively toward eliminating racial disparities in maternal and infant health, which will benefit the City of Trenton, New Jersey, and the nation.

Interested parties may only apply for one of the three lead tenant roles. The NJEDA anticipates issuing a subsequent Request for Proposals (RFP), which will serve as a procurement for these three lead roles. In order to apply for the RFP, applicants for the three lead roles must respond to this initial RFQ. Successful respondents to the RFP will then enter a long-term lease with the NJEDA for space at the Center. The RFQ can be found here.

The lead Healthcare Clinical Services Provider will offer clinical care to Trenton residents focused on maternal and infant wellbeing and health equity. Services the health care provider will be expected to provide include prenatal and postpartum care, newborn and pediatric care, mental and behavioral health care, doula services, family planning services, and home visitation services. The Healthcare Clinical Services Provider must be a New Jersey-based birthing hospital or maternity hospital or healthcare system containing one or more of these hospitals licensed by the New Jersey Department of Health and approved to accept Medicaid by the New Jersey Department of Human Services. Respondents should provide culturally competent care with specialized approaches for Black and Brown women, teenagers, and individuals with limited English proficiency.

The lead IHE will provide world class research on maternal and infant health with a focus on innovative models of care, data processing, and health equity. The IHE will also serve as a hub for growing and training the perinatal workforce, such as community doulas and certified midwives. Additionally, the IHE tenant may offer pre-college programs in clinical and behavioral science, allied health programs for high schools, college programs that incentivize minority students to study health sciences, and Graduate Medical Education support for cultural competency and equity training. IHEs licensed by the New Jersey Office of the Secretary of Higher Education, including senior public institutions, county colleges, and independent New Jersey-based public-mission institutions, may apply.

The Trenton-based MSO will focus on providing services that directly impact social determinants of health such as food insecurity, housing, and transportation – issues that severely impact the daily lives of Trenton residents, especially those of color. Services offered by the MSO may include case management, transportation assistance, assistance enrolling in public benefit programs, linkages to food and housing programs, or exercise and yoga classes. An MSO interested in submitting a response must be headquartered in Trenton, provide direct services within Trenton, be a 501(c)3 organization, and have at least 33% of their revenue come from governmental sources for the past two IRS 990 filings.

Organizations that wish to express interest in providing services through or partnership with the Center, but do not wish or may not meet qualifications to respond to the RFQ may fill out the Expressions of Interest Form here. NJEDA particularly encourages responses from organizations with deep experience in the Trenton community and with a track record of culturally competent service delivery that addresses legacies and patterns of systemic discrimination and bias that has led to disparate outcomes in maternal and infant health.

Last year, the NJEDA entered a Memorandum of Understanding (MOU) with the John S. Watson Institute for Urban Policy and Research at Kean University to facilitate community engagement, build trust and support among Trenton residents, and understand the services needed to improve maternal and infant health outcomes for the Trenton community This process is ongoing and will continue to directly inform potential locations for the Center in Trenton; assess current programs and service offerings for expectant mothers and infants in the Trenton area; identify gaps in the service landscape; and recommend opportunities to leverage existing community assets.

“The creation of the Maternal and Infant Health Innovation Center is the first step in addressing the long-standing issue of racially based disparities in the provision of maternal health services in Trenton and the region. Community-centered compassionate and equitable care for black and brown women as well as all women must be the gold standard in health care,” said Barbara George Johnson, vice president of external affairs and urban policy at Kean University’s John S. Watson Institute for Urban Policy and Research. 

In 2019, First Lady Murphy launched Nurture NJ, a statewide initiative dedicated to both reducing maternal and infant mortality and morbidity and ensuring equitable care among women and children of all races and ethnicities. The Center accomplishes a major recommendation in the Nurture NJ Maternal and Infant Health Strategic Plan.

New Jersey ranks 36th in the nation for maternal deaths and has one of the widest racial disparities for both maternal and infant mortality. A Black mother in New Jersey is nearly seven times more likely than a white mother to die from maternity-related complications, and a Black baby is three times more likely than a white baby to die before his or her first birthday.

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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Program Will Award Grants of up to $75,000

TRENTON, N.J. (March 31, 2023) – The New Jersey Commission on Science, Innovation and Technology (CSIT) plans to create a $750,000 grant program to help New Jersey startups develop innovative solutions designed to improve food security statewide.

Through the Food and Agriculture Research & Development (R&D) Pilot Seed Grant Program, CSIT will provide grants of up to $75,000 to startups working on food and/or agriculture-related innovation in the life sciences, technology, and food and beverage (non-retail) sectors.

The grants will enable awardees to accelerate their R&D to transform new discoveries from the research stage into commercially viable products and services that address food security needs of communities across New Jersey. Projects do not need to be located within a food desert community, but applicants should describe how their proposal will impact residents in food desert communities and food-insecure New Jerseyans more broadly. Complete eligibility requirements can be found here.  

“Food insecurity is a critical issue and New Jersey startups are developing innovative solutions in areas surrounding food processing, food access, and information on nutrition,” said CSIT Executive Director Judith Sheft. “Under Governor Phil Murphy’s leadership, we are supporting this next generation of entrepreneurs as they work to address the needs of the hungry. From companies like Campbell’s Soup Company and Wakefern Food Corporation to B&G Foods and Mars Chocolate, New Jersey is already home to numerous food and beverage giants, and we look forward to watching startups in this vital sector grow and expand their footprints in the Garden State.”

Sheft noted that this program will bolster New Jersey’s leadership role as it gains further recognition as one of the nation’s key hubs for food innovation and technology. New Jersey has many assets that are helping attract and retain companies in this growing sector, specifically its strategic location, expansive transportation infrastructure, and easy access to the Port of New York and New Jersey, which serves as the second busiest port in North America and is the largest on the East Coast.

CSIT will host an informational webinar on the Food and Agriculture R&D Pilot Grant Program prior to the application opening. Details of that webinar will be posted on CSIT’s website once it is scheduled. A recorded version of the webinar and copy of materials presented will be made available on the CSIT webpage following the event.

CSIT expects to begin accepting applications for this program later this Spring. 

A commitment of $750,000 from the New Jersey Economic Development Authority (NJEDA) to CSIT to fund the Food and Agriculture R&D Pilot Seed Grant program was approved by both Boards this month. The funding allocation from the NJEDA was appropriated through New Jersey’s Fiscal Year 2022 state budget, which dedicated $3.5 million to the Authority for “Food and Agriculture Innovation.”

“The Food and Agriculture R&D Pilot Seed Grant Program is an important tool in furthering Governor Murphy’s vision to make New Jersey a leader in innovation while increasing access to healthy food for every resident,” said NJEDA Chief Executive Officer Tim Sullivan. “This program will also harness the brainpower of New Jersey entrepreneurs – one of our state’s greatest assets – to aid in our whole-of-government approach to combatting food insecurity.”

In keeping with Governor Murphy’s goal of creating the most diverse and inclusive innovation ecosystem in the country, bonus scoring will be awarded to applicants that are New Jersey-certified women-owned, minority-owned, or veteran-owned businesses or have a primary place of business/research and development located either within an opportunity zone eligible census tract or within Trenton, Paterson, or Atlantic City. Bonus scoring will also be awarded to applicants using intellectual property initially developed at a New Jersey university, under an executed license agreement with such university. To increase the percentage of first-time CSIT awardees, staff will implement a new scoring bonus for applicants that have not previously been awarded a CSIT grant or voucher.

“Given the food insecurity in New Jersey and throughout the world, the Commission is proud to launch this important pilot program which will support entrepreneurs as they innovate to address this challenge,” said CSIT Chair Debbie Hart. “This program literally has the potential to change the world starting in the neighborhoods of New Jersey.”

The CSIT Board approved the creation of the Food and Agriculture R&D Pilot Seed Grant Program at its meeting last week.

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

To learn more about state resources available to New Jersey entrepreneurs and early-stage companies, visit http://www.njeda.gov/csit and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Update: Feedback on all C-PACE-related documents released by the NJEDA this year will be accepted through August 25, 2023 at 11:59 p.m.

Draft Program Guidelines for Commercial Property Assessed Clean Energy Program to be shared for public feedback

TRENTON, N.J. (March 27, 2023) – The New Jersey Economic Development Authority (NJEDA) will host a virtual public information session on the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program on Friday, April 14 at 10:00 a.m. The session will provide an overview of the draft C-PACE program guidelines, which will be made available prior to the session. 

The draft C-PACE guidelines will be posted here.  Feedback can be sent to gardenstatecpace@njeda.com through May 15, 2023 at 11:59 p.m. The draft C-PACE guidelines will include eligibility criteria, responsibilities of participants, the application process, technical standards, fees, and local program requirements.

Members of the public, including media, can register for the April 14 information session here.

The C-PACE Program will provide a new form of financing to New Jersey property owners for renewable energy, energy efficiency, water conservation, and certain types of resiliency-related improvements. The program will enable eligible commercial, industrial, agricultural, and certain multi-family residential real property owners to access financing to undertake these kinds of improvements on their properties and repay the financing through the payment of an additional assessment to their municipality, similar to a property tax, sewer, or water bill.

As part of his administration’s ongoing commitment to address climate change, in August 2021, New Jersey Governor Phil Murphy signed legislation (A-2374) requiring the NJEDA to establish the C-PACE program to facilitate the financing of eligible projects in municipalities that adopt an opt-in ordinance.

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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MARCH 13, 2023 – Newark, NJ – Governor Phil Murphy and First Lady Tammy Murphy took the stage at NJPAC’s Prudential Hall this morning alongside NJPAC President and CEO John Schreiber, Newark Mayor Ras J. Baraka, Asbury Park Mayor John Moor, and Atlantic City Mayor Marty Small to announce…

Programs will provide approximately $35m in short term support for New Jersey companies impacted by Silicon Valley Bank

Trenton, N.J. (March 12, 2023) – In response to Silicon Valley Bank’s (SVB) collapse last week, Governor Phil Murphy announced that the New Jersey Economic Development Authority (NJEDA) will be opening, and launching, a series of programs designed to provide emergency assistance to New Jersey-based companies banked by SVB.

Specifically, this package of assistance includes the re-opening of the NJEDA’s Entrepreneur Support Program, the launch of the NJEDA’s Angel Match Program, and the scheduling of a special board meeting for consideration of an emergency liquidity facility. All programs will provide necessary financial support for companies experiencing liquidity challenges due to the SVB collapse and are designed to help companies meet payroll, pay rent, and continue their day-to-day operations. Both programs will open on the NJEDA’s website early this week, with Angel Match launching on Monday, March 13th with pre-qualifications opening at 9:00am, and the Entrepreneur Support Program launching on Wednesday, March 15th.

“Ensuring the success of New Jersey’s businesses is a vital component in building a stronger and fairer New Jersey economy,” said Governor Murphy. “Now, more than ever, it is essential that our state supports companies that contribute to our economy, innovation ecosystem, and the dynamism of our cities. By offering a suite of programs for New Jersey entrepreneurs impacted by the SVB collapse, we will continue to keep residents employed and support companies that are vital to our innovation ecosystem.” 

“Under Governor Murphy’s leadership, New Jersey has made monumental strides in growing our innovation economy and scaling companies of the future,” said NJEDA Chief Executive Officer Tim Sullivan. “Today’s announcement serves as a testament to New Jersey’s commitment to the success of our entrepreneurial sector, with the state pivoting almost overnight to launch programs that provide critically necessary support for entrepreneurs during times of economic uncertainty.”  

Funded at $5 million, the New Jersey Entrepreneur Support Program offers a guarantee to support repayment of an investor loan advanced for working capital purposes and is designed to encourage investors to support businesses within their portfolios during this liquidity crisis when investor support is particularly crucial. It provides an NJEDA guarantee of up to 80 percent for an eligible new loan or convertible note by a qualified investor into a New Jersey qualified business, not to exceed a $200,000 guarantee per company.

Funded at $20 million, the Angel Match Program will help early-stage businesses bridge funding gaps as they scale their operations and refine their products. The program, which will match up to $500,000 in direct investments, is designed to fuel the growth of early-stage companies while increasing the pool of available capital, stimulating further investments into New Jersey’s innovation ecosystem. The funding may be used for product development, marketing, research and development, and other working capital needs. This will extend the capital support from investors during this time of uncertain banking resources.

Finally, the NJEDA board will consider the creation of a $10 million emergency liquidity facility that will review financial support requests for New Jersey-based companies with over $250,000 in deposits at SVB. This product is anticipated to support impacted companies with a loan of up to $500,000 to provide short-term financing options for at most 12 months.  The Authority’s board will consider the program approval at a board meeting to be scheduled in the coming week. Further details will be announced prior to the board meeting.

“During this challenging time, we remain committed to ensuring that investment dollars continue to flow to New Jersey’s emerging technology and life sciences companies,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “Entrepreneurial businesses are critical to our state’s overall economy. The suite of programs announced today will connect them with the working capital they need to keep their operations running and will keep our innovation economy moving forward.”    

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 state resources available to New Jersey entrepreneurs and early-stage companies, visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Woman-Founded and Led Small Business Plans to Create 90 Positions in New Jersey

TRENTON, N.J. (March 8, 2023) –The Board of the New Jersey Economic Development Authority (NJEDA) today approved EpiBone, Inc. to receive up to $3.5 million over seven years in Emerge tax credits to secure the Brooklyn-based biotechnology company’s commitment to move to Jersey City, where it expects to create 90 full-time jobs. The project is expected to yield a net benefit greater than 300 percent to the state over its 11-year commitment period.

EpiBone grows bone and cartilage for skeletal reconstruction using stem cells to create new healthy bone, cartilage, and compound (bone and cartilage) products in a lab. EpiBone is a clinical stage company with one product in clinical trials, and two products in various phases of clinical development, requiring it to take on additional space, including a clean room, and hire more support staff. The company has outgrown its current location at the Downstate Biotechnology Incubator space in Brooklyn, NY, and through the Emerge program, will move to New Jersey to expand.

“By securing EpiBone’s relocation to Jersey City through the ground-breaking Emerge Program, New Jersey is once again expanding its nation-leading life sciences ecosystem,” said Governor Phil Murphy. “EpiBone will serve as an invaluable asset to our growing economy as it brings nearly 100 new jobs to our state and innovates at the cutting edge of life-changing biotechnology. We welcome this women-owned and led small business as we celebrate International Women’s Day and continue to foster a fairer and more inclusive New Jersey.”

EpiBone is co-founded and led by Chief Executive Officer (CEO) Dr. Nina Marie Tandon, a New York City native and biomedical engineer, who holds several patents and is known for her TED Talks on engineered tissue and the future of personalized medicine. She has completed a PhD in Biomedical Engineering and MBA from Columbia University, as well as a Master’s in Bioelectrical Engineering from MIT. Named one the 40 under 40 by Crain’s New York, an Ernst & Young Winning Woman, and one of Goldman Sachs’ 100 Most Intriguing Entrepreneurs; she is also a WEF Young Global Leader and McKinsey alumni. Dr. Tandon’s passion for science and innovation is dwarfed only by her desire to see the promise of regenerative medicine fully realized.

Prior to NJEDA Board consideration, Dr. Tandon submitted a letter of intent to the NJEDA indicating that if the Authority approves the tax award as proposed by the NJEDA, EpiBone will proceed with the Project at the Qualified Business Facility located at 95 Greene Street in Jersey City.

The Emerge Program is part of the New Jersey Economic Recovery Act (ERA). Through the Emerge Program, small to large businesses, as well as non-profits, can apply for tax credits to support projects that meet minimum capital investment, job creation or retention, and other requirements when competing with another State. Founded in 2014, EpiBone is the first company approved under Emerge to qualify for the program’s “Small Business” designation, which allows for increased flexibility and enhanced benefits as the company grows in New Jersey.

“The Board’s approval of EpiBone for tax credits illustrates the ability of the Emerge program to attract growing innovation companies to New Jersey,” said NJEDA CEO Tim Sullivan. “Governor Murphy’s vision for a stronger, fairer economy and the legislature’s thoughtful approach to the creation of the Economic Recovery Act, combined with New Jersey’s unmatched talent pool and ideal location, creates a stellar value proposition for up-and-coming companies and future technologies.”

Additionally, EpiBone’s approval falls in tandem with International Women’s Day. Dr. Tandon joins leagues of women entrepreneurs contributing to New Jersey’s leadership in innovation, a testament to New Jersey’s supportive climate for women-led businesses. Notably, Jersey City is home to the highest percentage of venture-funded companies founded by women, according to a study by banking app Tide.

“New Jersey’s educated and diverse talent pool, accessible location, and network of high-profile research universities makes it an ideal spot for a dynamic, rapidly growing business to reach its potential,” Dr. Tandon said. “New Jersey also offers a robust range of programs to support companies through all stages of growth. Jersey City, in particular, is a model of diversity, has a thriving innovation community, and is accessible via mass transit – all just a short drive from lower Manhattan and major international airports.”

The project will be the company’s headquarters and will include research and development facilities and clean room space. The positions moving to Jersey City include executive staff, clinical positions, research, system engineers, lab support, quality control and quality assurance specialists, manufacturing support, information technology, and various administrative functions.


“We continue to promote growth and economic development amid one of the greatest renaissances Jersey City has ever seen, and businesses want to relocate here to be part of the progress.  We have welcomed several majorly successful companies in recent years as they move their operations across the Hudson River and even across the nation seeking out Jersey City where we have become a destination for businesses of all sizes to grow and thrive.  We welcome EpiBone as our newest resident.  We look forward to the job creation and economic growth that these companies can offer communities like ours, and we’re thankful for the efforts on the state-level to further push this narrative,” said Mayor Steven M. Fulop, City of Jersey City.

More information about the Emerge Program is available at: https://www.njeda.gov/emerge. In addition to the Emerge Program, the ERA creates a suite of programs that includes tax credits to incentivize job creation, new construction, and revitalization of brownfields and historic properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry. More information about these programs is available at https://www.njeda.gov/economicrecoveryact.

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.

About EpiBone, Inc.

EpiBone, Inc. is a privately-held clinical-stage regenerative medicine company focused on skeletal reconstruction. Sitting at the intersection of biology and engineering, the company harnesses the power of cells to create living solutions that can become a seamless part of a patient’s body. EpiBone is currently developing a pipeline of bone, cartilage, and compound (bone and cartilage) products.

For more information, please visit: https://www.epibone.com/

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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