TRENTON, N.J. (December 1, 2023) –The New Jersey Economic Development Authority (NJEDA) has issued a Request for Expressions of interest (“RFEI”) to identify specific sites, projects, or assets that are interested in financial support from its planned New Jersey Green Fund (“NJGF”). The RFEI can be found here, with responses due by January 12, 2024.

WHAT: The planned NJGF aims to facilitate an equitable clean energy transition in New Jersey by attracting private capital to enable the State to meet its ambitious clean energy goals while also providing measurable benefits to its Overburdened Communities. The NJGF may offer financial products and support to stimulate larger private capital investments for, and deployment at scale of, clean energy technologies within New Jersey. This RFEI will help the NJGF identify parties interested in accessing at least $5 million capital from NJGF for projects primarily located in the State. Projects and assets may fall within the priority categories of clean energy generation and storage, zero-emission transportation, building decarbonization and resiliency, or any other topic related to achieving the State’s clean energy goals. 

WHEN: Responses to the RFEI must be submitted via email to NJGFrfei@njeda.gov no later than 5:00 p.m. ET on January 12, 2024. Questions regarding the RFEI process or content may be submitted via email no later than 5:00 p.m. ET on December 15, 2023.

WHO: Potential Respondents to the RFEI may include but are not limited to: 

  • Property owners 
  • Real estate developers 
  • Renewable energy developers & operators  
  • Financial institutions  
  • Corporations 
  • Non-profit organizations 
  • Venture and private equity groups
  • Community-based organizations, including those representing Environmental Justice Communities  
  • Other private entities 

Respondents can submit multiple proposals to the RFEI, or include reference to multiple projects in one comprehensive proposal. Please note, providing a response to this RFEI is not a formal application for funding nor a binding intent to pursue investment opportunities that may be made available through the NJGF in the future. Future opportunities will be made available for Respondents and other members of the public to apply for NJGF funding regardless of whether they respond to the RFEI.

About the NJEDA and the NJGF

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, which include several programs that finance clean energy investments. Building on NJEDA’s track record of supporting the growth of clean energy technologies, Governor Murphy and the State legislature allocated capital in the FYE ‘24 Budget to the New Jersey Green Fund (NJGF), which is currently being organized within NJEDA to invest in clean energy projects in the State.

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.

Working capital loans with competitive interest rates and no collateral requirement will support New Jersey small businesses

TRENTON, N.J. (November 28, 2023) – The New Jersey Economic Development Authority (NJEDA) today announced the opening of the NJ Capital Access Fund. The fund will leverage Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) to offer a working capital loan product that will better serve New Jersey-based small businesses. The NJEDA-designated fund manager, Calvert Impact, will utilize and match NJEDA’s $50 million investment with State Small Business Credit Initiative (SSBCI) funding for a $100 million fund that supports a New Jersey loan participation program. The SSBCI funds, matched with raised private capital, will be used to purchase up to 80 percent of every eligible loan by participating community lenders.

“The NJ Capital Access Fund serves as a testament to Governor Phil Murphy’s unwavering commitment to supporting New Jersey small businesses by increasing access to much-needed capital in the wake of the pandemic and recent inflationary pressures,” said NJEDA Chief Executive Officer Tim Sullivan. “This program, which is being administered by Calvert Impact on behalf of the NJEDA, will bolster community lending infrastructure and provide a streamlined path for small businesses in need of loans, helping revitalize a core component of our state’s diverse economy.”

The NJ Capital Access Fund was designed by the NJEDA to meet the needs of small businesses and nonprofits throughout New Jersey and to help serve a larger amount of New Jersey businesses by leveraging a technology platform through the Community Reinvestment Fund, USA. The Capital Access Fund will work alongside six CDFI partners to offer working capital loans up to $250,000 to businesses that have been operating for at least 12 months, with a revenue of $10 million or less and fewer than 50 employees. The loan program will offer flexible features, including no minimum credit score or collateral requirements, terms from 36 to 60 months, low fees to borrowers, and competitive fixed interest rates. Full details, including eligibility requirements and pre-applications, can be found here.   

Calvert Impact is a nonprofit organization primarily focused on financing sectors ignored by mainstream capital markets and has been supporting community and economic development organizations for nearly 30 years. With proven experience in the creation of financial products that meet the specific needs of underserved and underbanked communities, Calvert Impact’s work supported over 231,000 small businesses in 2022, which have created or maintained more than 905,000 jobs.

“Small businesses across New Jersey deserve access to capital to support their continued growth,” said Beth Bafford, Calvert Impact’s Vice President of Strategy. “We are excited to partner with NJEDA and our CDFI partners to bring this innovative public-private partnership to New Jersey’s smallest businesses, which are vital to the character of their communities and the vibrancy of their local economies.”

Financing for the NJ Capital Access Fund is allocated from $255 million in federal SSBCI capital allotted to the State of New Jersey by the United States Department of the Treasury. The NJEDA is utilizing the funding to create six programs that provide financial assistance to small and micro businesses in New Jersey. More information on SSBCI-funded programs can be found here.

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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Small businesses encouraged to take advantage of the Small Business E-Commerce Support Program to develop website, marketing plan & implement online ordering

TRENTON, N.J. (November 21, 2023) – Earlier this year, the New Jersey Economic Development Authority (NJEDA) launched a new $4 million pilot program that provides free e-commerce and digital marketing consulting services to New Jersey small businesses. Since the Small Business E-Commerce Support Program launched, the NJEDA has connected 152 small businesses to consulting firms, representing over $1.1 million in assistance. To date, 76 percent of the funding has supported minority-owned small businesses. The program aims to help small businesses adapt to the growing e-commerce economy, which has boomed since the pandemic.

“Under Governor Murphy’s leadership, New Jersey has prioritized small businesses by investing in resources to help them succeed,” said NJEDA Chief Executive Officer Tim Sullivan. “The Small Business E-Commerce Support Program has already begun to help businesses with their digital marketing needs and the NJEDA is prepared to help even more ‘mom and pop’ businesses statewide modernize their services, expand their clientele, and stay competitive in the evolving e-commerce economy. I urge small business owners up and down the Garden State to take advantage of this program so that they can expand their e-commerce services at no cost.”

The program offers up to $11,400 in consulting services to eligible restaurants, retailers, and personal care businesses to assist with web page design and development, online ordering implementation, online appointment booking implementation, e-commerce design and development, and online marketing plan development. Restaurants and personal care businesses can receive up to $11,400 in consulting services, while retail stores can receive up to $10,800.

Francis Henri, a baby boutique located in Westfield, was able to launch a brand-new website with the services provided by the Small Business E-Commerce Support Program. The baby boutique sells high quality clothing and accessories from international brands in Europe, the United Kingdom, and Australia. On the businesses new website, customers can browse, shop, place orders, and have it shipped nationwide.

“With the help of the NJEDA’s Small Business E-Commerce Support Program, we have a brand-new, highly professional, user-friendly website that will help us grow our business,” said Francis Henri owner Katherine Oyer. “Our consultants were so patient and diligent and asked the right questions to ensure our needs and priorities were met. I cannot think of anything they could have done differently to make us happier.”

The Small Business E-Commerce Support Program also helped Robin’s Nest Restaurant revamp their website. Although the Mount Holly-based restaurant, bakery, and catering service had a well-constructed website, the consulting firm helped the business add Google search words and social media to their website in order to increase traffic, and the owners learned how to use analytics to track success.

“We were fortunate enough to be included in the NJEDA’s highly beneficial Small Business E-Commerce Support Program,” said Audrey Winzinger, Marketing Manager of Robin’s Nest Restaurant. “We were paired with a consulting firm that was able to help us promote the three distinct aspects of our business – restaurant, catering, and bakery. The services provided were worth thousands and will serve us well for years to come. We are grateful to the NJEDA for the opportunity.”

Through a competitive selection process, the NJEDA has contracted with seven consulting firms to provide e-commerce and digital marketing services to small businesses until the funding is exhausted. Interested businesses should contact the consulting firm of their choice directly.

The firms include:

Small businesses interested in the program can click here to learn more.

This program is funded by the Main Street Recovery Finance Program, which was established under the New Jersey Economic Recovery Act of 2020 (ERA). The ERA created over 15 programs, including the $200 million Main Street Recovery Program. Since the Main Street Recovery Program launched in October 2021, the NJEDA made nearly 4,000 approvals for grants, loans, and technical assistance for small businesses totaling $132 million. 45 percent of Main Street funding has supported minority- and/or women-owned small businesses. The Small Business E-Commerce Support Program is the fifth pilot program the NJEDA approved under the Main Street Recovery Finance Program.

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.

TRENTON, N.J. (November 21, 2023) – Last week, the New Jersey Economic Development Authority (NJEDA) Board approved a new $20 million pilot program to support rising real estate developers. The Emerging Developer Fund will help developers gain access to capital and build additional capacity to expand their existing portfolio.

Access to capital for small-scale developers in the real estate development industry continues to be a challenge. These barriers are due to predatory lending, excessive carrying costs, and predevelopment expenses a developer may encounter. These predevelopment costs are necessary for the developer to incur before they can seek short-term construction financing. These deterrents in the development industry have created financial setbacks and limited portfolios for emerging development entities that do not have the capital to cover soft costs.

“Rising developers must be part of the process as we strengthen and build up underserved New Jersey communities,” said Lieutenant Governor Tahesha Way. “The NJEDA’s Emerging Developers Fund is in line with Governor Phil Murphy’s vision for a more accessible and equitable economy and a stronger Garden State.”

The Emerging Developer Fund will provide grants of up to $200,000 to assist small-scale developers with up to 50 percent of their pre-development soft costs. The program will support small-scale developers that have completed at least two – but no more than five – commercial and/or mixed-use properties of similar scope. The creation of this program will address various difficulties that continue to be a constant burden to emerging developers, which limit opportunities to expand their portfolios.

“As we work to revitalize communities across the state, we must ensure new, emerging developers have access to the same opportunities and advantages in order to create an inclusive economy,” said NJEDA Chief Executive Officer Tim Sullivan. “The Emerging Developer Fund will better position small-scale developers to grow and succeed, which will ultimately help build stronger communities. The program’s focus on developers in underserved communities underscore’s Governor Murphy and Lieutenant Governor Way’s commitment to creating a stronger, fairer economy and improving the lives of hardworking New Jerseyans.”

“The Emerging Developer Fund aligns with DCA’s mission of strengthening communities through the talent, vision, and energy of all stakeholders, including small-scale developers,” said Jacquelyn A. Suárez, Acting Commissioner of the New Jersey Department of Community Affairs (DCA). “We applaud the NJEDA and its Board for establishing a program to help emerging developers build their business and invest in aspiring communities.”

“Under Governor Murphy’s leadership, New Jersey is taking proactive strides to empower developers from a wider range of backgrounds. The Emerging Developer Fund will further the administration’s efforts to break barriers and foster growth,” said New Jersey Housing and Mortgage Finance Agency Executive Director Melanie Walter. “Together, we’re shaping a brighter future for our communities, one development at a time.”

Projects located in Opportunity Zones or in a Government Restricted Municipality (GRM) will receive an additional $50,000 bonus, increasing its award to $250,000. There are 169 designated Opportunity Zones and three GRM’s, including Atlantic City, Paterson, and Trenton.

“This latest initiative by the New Jersey Economic Development Authority demonstrates how government can execute with intentionality to expand participation in our state’s economy,” said John E. Harmon. Sr., Founder, President & CEO, African America Chamber of Commerce of New Jersey (AACCNJ). “The Emerging Developer Fund is a forward-thinking strategy to improve New Jersey’s competitiveness.”

“The Emerging Developer Fund is a groundbreaking initiative for underrepresented developers in New Jersey. It provides access to vital capital and opens up opportunities to expand their portfolio and contribute to economic growth in our communities,” said Carlos Medina, President/CEO Statewide Hispanic Chamber of Commerce of NJ (SHCCNJ).

Soft costs eligible to be covered by the program include, insurance costs, legal fees, utilities, property taxes, construction drawings, and design fees. Costs associated with purchase of property or construction are not eligible.

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

TRENTON, N.J. (November 17, 2023)– The New Jersey Economic Development Authority’s (NJEDA) Board yesterday approved the adoption of new rules for the Aspire Program aimed to spur development and increase affordable housing in communities across the state. The rule changes include increased per project caps, expanded eligibility for transformative projects, and increased affordability controls for residential units. The Aspire Program is a gap financing tool to support commercial, mixed-use, and residential real estate development projects.

“Since launching, the Aspire Program has supported innovative commercial projects like HELIX and affordable and mixed-income residential developments in downtowns across the state, including in Newark and Trenton,” said NJEDA Chief Executive Officer Tim Sullivan. “The adoption of these new rules will allow the NJEDA to support even more transformative, mixed-use, transit-oriented development which will help revitalize communities and strengthen our economy. Importantly, the rules will strengthen affordable housing, increasing access to hardworking New Jersey families.”

Aspire is a place-based economic development program created under the New Jersey Economic Recovery Act of 2020 (ERA) to support mixed-use, transit-oriented development with tax credits to commercial and residential real estate development projects that have financing gaps. In July, Governor Phil Murphy signed an update to the Aspire legislation in response to changing economic conditions making the program more accessible and able to support more projects that will create jobs and housing across the state.

To date, the NJEDA Board has approved 10 projects for over $500 million in Aspire awards, representing over 500,000 square feet of commercial space, 490 income-restricted units, and 1,040 market-rate units.

The new rules approved by the board include:

Increased Project Awards

In response to spiking inflation, supply chain disruptions and rising interest rates, the new legislation increased caps per project according to the following schedule:

  • 80 percent of eligible costs up to $120 million for Atlantic City, Trenton, and Paterson
  • 60 percent of eligible costs up to $90 million for four percent Low-Income Housing Tax Credit projects, projects in a qualified incentive tract, municipality with an Municipal Revitalization Index score over 50, or an enhanced area
  • 50 percent of eligible costs up to $60 million for all other eligible projects
  • Transformative project caps are subject to the above percentages with a dollar cap of $400 million

Transformative Projects
Transformative projects must demonstrate special economic importance to New Jersey and leverage the state’s mass transit assets, higher education assets, and other economic development assets to attract or retain employers and skilled workers or in targeted industries by providing employment or housing. Transformative projects must meet the following criteria:

  • Minimum project costs increased from $100 million to $150 million
  • Minimum commercial project size remains 500,000 square feet or
    • 300,000 square feet in an enhanced area
    • 200,000 square feet in Atlantic City, Paterson, or Trenton
    • 250,000 square feet for film production studios
  • Minimum residential project size of 700 newly constructed units
  • Minimum mixed-use project of 50,000 square feet plus
    • 200 residential units in Atlantic City, Paterson, or Trenton
    • 300 residential units in an enhanced area
    • 400 residential units in other eligible locations

Affordability Controls
For a project that includes newly constructed residential units, at least 20 percent of the units must be reserved for low- and moderate-income households. These income-restricted units will include a minimum number of three-bedroom units and a maximum number of studios and one-bedrooms ensuring more options for families. They also include more units for very low-income and low-income households with the remainder for moderate-income.

In line with Governor Murphy and the NJEDA’s commitment to fiscal responsibility and transparency, the Aspire program rules include provisions, such as a gap financing review and excess revenue sharing requirements, to ensure tax credits are awarded responsibly.

The Aspire program application, as well as complete rules, eligibility requirements, award sizes, and other information can be found here.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram and LinkedIn.
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Eight-Story Innovation Hub at Liberty Science Center’s SciTech City Will Drive Industry Growth in North Jersey

JERSEY CITY, N.J. (November 16, 2023) – Governor Phil Murphy today announced that the New Jersey Economic Development Authority (NJEDA) and SciTech Scity LLC (“STS”), have signed a non-binding letter of intent to form a limited liability company to be called “Edge Works” to develop, construct, and manage an approximately 120,000-square-foot life sciences, health care, and tech innovation hub adjacent to the Liberty Science Center in Jersey City, New Jersey. Pending approval by its Board, the NJEDA intends to invest up to $20 million in Edge Works. Anticipated costs for the Edge Works project totals more than $116 million.

Liberty Science Center is engaged in a large, $450-million expansion to build what will become the 30-acre STS innovation campus located in Jersey City and officially named the Frank J. Guarini Innovation Campus. The eight-story business creation hub of STS, will house laboratories, research & development spaces, office suites, coworking spaces for dozens of start-ups, a tech exhibition gallery, and a state-of-the-art conference center. In addition to Edge Works, SciTech Scity will also include Liberty Science Center High School, a new public STEM high school for Hudson County; and Scholars Village, consisting of 500 units of residential housing for tech-forward families and individuals.

“Edge Works will build upon New Jersey’s legacy as the ‘medicine chest’ of the world by fueling the economic benefits of this and other industries in North Jersey and contributing to our efforts to cultivate the most diverse, inclusive innovation ecosystem in the nation,” said Governor Phil Murphy. “This new hub of innovation will support dozens of promising New Jersey entrepreneurs in the nation’s most ethnically diverse city. In turn, the hub will have access to Jersey City’s unparalleled talent pool, and all the infrastructure, academic, and technological prowess right outside its doors that only SciTech Scity and Liberty Science Center can provide.”

A key focus area of Edge Works is health care and life sciences, particularly a new model of health care that emphasizes prevention and early detection of disease through the development, testing, and adoption of digital home health technology. STS anchor tenant Sheba Medical Center (Sheba), a leading Israeli hospital, will be creating Liberty Science ARC HealthSpace 2030, a “hospital of the future” simulation space on the top floor of Edge Works. Sheba is ranked by Newsweek among the World’s Top 10 Hospitals for the past four years and is an international leader in medical innovation, collaborating with health centers around the globe to develop groundbreaking techniques and life-saving treatments. Edge Works is expected to create nearly 800 construction jobs, and more than 400 permanent positions.

“Edge Works clearly aligns with Governor Murphy’s vision for strategic innovation centers and continued leadership in the life sciences and health care. We are thrilled to work with the STS team to make this promising concept come alive and ensure North Jersey reaps the educational, economic, and job creation benefits of the high-growth life sciences sector,” said NJEDA Chief Executive Officer (CEO) Tim Sullivan. “The Letter of Intent announced today and the planned investment will help to generate high-quality jobs in the near-term, but also plants the seeds for the career opportunities and economic activity the companies that grow at Edge Works will create long into the future.”

Governor Murphy and Liberty Science Center President and CEO Paul Hoffman were among the leaders that broke ground on the 30-acre, $450 million STS project in October 2021.

“We are grateful to Governor Murphy and the NJEDA for the state’s investment in SciTech Scity,” Hoffman said. “For 30 years Liberty Science Center has inspired the next generation of scientists, engineers, and innovators. We look forward to our expanded mission of starting new companies that use science and technology to address humanity’s greatest challenges and create a better future for all of us. Edge Works and SciTech Scity are guided by the vision that the best way to predict the future is to create it.”

“SciTech Scity is a revolutionary project where we are establishing Jersey City and New Jersey as a premier destination for innovation and collaboration while providing coveted opportunities ranging from public education for our youth to STEM-based jobs to investment and everything in between,” said Mayor Steven M. Fulop, City of Jersey City. “I am incredibly grateful for Governor Murphy’s and the NJEDA’s support, as this funding is vital in moving forward with SciTech Scity and our vision for economic growth.”

“Investments into New Jersey’s robust innovation ecosystem drive our state forward, ensuring we continue to lead the nation in the science, health care, and technology space,” said Assemblyman Raj Mukherji. “Edge Works is an exciting opportunity for both the scientific community and Jersey City. This proposed investment into the innovation hub and partnership with the Liberty Science Center will stimulate the local economy, attract new businesses to our state, and spur further scientific advancements addressing the most pressing issues facing society.”

“We couldn’t be more excited by this announcement,” said Hudson County Executive Tom DeGise. “Edge Works will create the very kinds of research, enterprise creation, and employment opportunities we hope our students attending the new Liberty Science Center STEM High School will seek out and be recruited for in the future.”

Edge Works tenant companies will benefit from STS’ collaboration with colleges and universities to advance real-world applications for cutting-edge science and technology. The 170,000-student and faculty academic ecosystem that STS is bringing together includes Fairleigh Dickinson University, Hudson County Community College, New Jersey Institute of Technology, NYU Tandon School of Technology, Princeton University, Rowan University, Rutgers, the State University of New Jersey, and Stevens Institute of Technology. STS will work with these institutions to showcase their most important innovations and promote their research and talent to the venture capital and corporate innovation communities.

Strategic Innovation Centers, the program through which the NJEDA would collaborate with STS, are facilities that either directly support research and development (R&D), innovation, or entrepreneurship or are aimed at solving specific problems in new and innovative ways through a combination of services such as mentorship, networking opportunities, hands-on training, business support services, education opportunities, and/or access to testing, fabrication, or manufacturing facilities and equipment. The Centers can take many forms such as: accelerators, incubators, research centers, innovative service delivery centers, or multi-tenant innovation clusters. Most have a common goal of being a physical location that brings people together to advance innovation.  They are often focused on a specific industry or around solving a specific problem.  They build a community cluster of like-minded individuals that collaborate on solving a common problem or advancing a common goal. The ability to coalesce entrepreneurs and innovators at a central location often leads to a quicker time to market and greater success.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

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

About the SciTech Scity

Liberty Science Center is developing a “Science City of Tomorrow” in Jersey City—a 30-acre innovation campus called SciTech Scity devoted to using science and technology to address humanity’s greatest challenges, from inadequate health care to climate change, and create a better future for all of us.

In addition to the existing Liberty Science Center, home of the largest planetarium in the Western Hemisphere, the first $450-million phase scheduled to start opening in 2025 includes Edge Works, an eight-story business-creation center with laboratories, R&D spaces, office suites, co-working spaces, a tech exhibition gallery, and a state-of-the-art conference center.  Scholars Village, built and operated by Alpine Residential, will provide 500 apartments for innovators, scientists, entrepreneurs, and tech-forward families and individuals. Liberty Science Center High School, a new public magnet STEM high school, will be built by the Hudson County Improvement Authority and operated by the Hudson County Schools of Technology. A three-acre outdoor Public Commons will feature art installations and space for performances, farmers markets, and maker fairs.

Learn more at SciTechScity.com.

About Liberty Science Center

Liberty Science Center (LSC.org) is a 300,000-square-foot, not-for-profit learning center located in Liberty State Park on the Jersey City bank of the Hudson River near the Statue of Liberty. Dedicated to inspiring the next generation of scientists and engineers and bringing the power, promise, and pure fun of science and technology to learners of all ages, Liberty Science Center houses the largest planetarium in the Western Hemisphere, 12 museum exhibition halls, a live animal collection with 110 species, giant aquariums, a 3D theater, live simulcast surgeries, a tornado-force wind simulator, K-12 classrooms and labs, and teacher development programs. More than 250,000 students visit the Science Center each year, and tens of thousands more participate in the Center’s off-site and online programs. Welcoming more than 750,000 visitors annually, LSC is the largest cultural institution in New Jersey and the largest interactive science center in the NYC-NJ metropolitan area.

$15M pilot program will fund emissions-reductions and energy efficiency projects in commercial buildings

TRENTON, N.J. (November 16, 2023) – The New Jersey Economic Development Authority (NJEDA) Board today approved the creation of a new pilot program that will provide grants to commercial building owners and tenants undertaking retrofit construction projects that reduce greenhouse gas emissions from existing commercial buildings. The $15 million NJ Cool program will start as a pilot for projects in Atlantic City, Edison, and Newark.

These three communities have significant numbers of commercial buildings that will be potential applicants for the program, are municipalities with high commercial energy usage, represent the different geographic regions of the State, and most critically are considered Overburdened Communities per the New Jersey Environmental Justice Law. The NJEDA may seek Board approval to expand the pilot program in the future to include other municipalities across the State. 

“Under Governor Phil Murphy’s leadership, New Jersey is combatting the effects of climate change by supporting projects that will reduce our carbon footprint, creating a cleaner and greener state,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJ Cool Program will help fund the transition of commercial buildings to clean energy systems in overburdened municipalities, which will improve the health of families and kids living in these communities. The program will also bolster New Jersey’s clean energy industry by creating jobs and strengthening our economy.”

The NJEDA will provide grants of up to $1 million to applicants for eligible hard construction costs for energy efficiency projects, such as updating a building’s heating and cooling system.

This pilot is funded by the Regional Greenhouse Gas Initiative (RGGI) proceeds allocated to NJEDA under the RGGI Strategic Funding Plan: Years 2023-2025. It is the first investment of NJEDA RGGI funding to be allocated towards the plan’s Initiative One: Accelerate Healthy Homes and Building Decarbonization.   

In addition to reducing emissions, the program will accelerate the adoption of more environmentally friendly building systems, technologies, and construction practices within New Jersey.

Commercial buildings alone account for 10 percent of total greenhouse gas emissions in New Jersey. In line with Governor Murphy’s vision to bolster New Jersey’s clean energy economy and reduce dependence on harmful pollutants, the pilot builds upon the NJEDA’s efforts to support the State’s innovative clean energy industries and further the Governor’s goal of reducing statewide greenhouse gas emissions to 80 percent below 2006 levels by 2050.

Applications are expected to open in 2024 and will be reviewed on a rolling basis. For more information on the program, including application requirements and eligible projects, please monitor njeda.gov/njcool or email njcool@njeda.gov.

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

Innovative programs will expand access to fresh groceries for residents in NJ’s second-most-acute food desert community

TRENTON – Governor Phil Murphy today announced that the New Jersey Economic Development Authority (NJEDA) will commit over $5.5 million in funding to support a multi-faceted approach to immediately expand access to fresh, healthy grocery shopping options for Atlantic City residents. Out of 50 Food Desert Communities (FDCs) in the state, Atlantic City is the second-highest-ranked, demonstrating a significant need for interventions designed to reduce rates of food insecurity. The suite of programs that will be launched by the NJEDA will increase affordable access to produce and healthy food options, ensuring more residents of Atlantic City can purchase groceries right in their community.

“Every New Jerseyan deserves equitable access to affordable groceries regardless of their zip code,” said Governor Murphy. “The funding announced today will support several innovative programs that will alleviate the pressure on countless Atlantic City residents who travel miles out of their community to buy the groceries they need for their families. My administration continues to be committed to expanding access to fresh and healthy foods in Atlantic City and across the state.”

In 2022, the NJEDA designated 50 FDCs across New Jersey. The Atlantic City/Ventnor FDC, comprised of 41,000 residents, is ranked second-highest in the state based on its food desert factor score, a measure of acuity of need. Atlantic City has been without a full-service supermarket for nearly two decades. The programs announced today will serve as pilot programs, which could be expanded to other FDCs throughout the state.

“Through my Nurture NJ initiative, New Jersey is working hard to strengthen underserved communities so that every child has a supportive and healthy environment to grow up in,” said First Lady Tammy Murphy. “I am excited that a portion of today’s funding will allow the Department of Health to expand their Healthy Corner Store Initiative in Atlantic City. The initiative has already brought healthy food and beverage choices to communities across the state and this additional funding will allow hardworking families struggling to make ends meet access the groceries they need to feed their households.”

“Every New Jerseyan deserves access to affordable groceries and nutritious foods regardless of where they live,” said Senator Vince Polistina. “This multimillion-dollar investment by the NJEDA will significantly improve food security in Atlantic City, help end food inequality, and expand access to disadvantaged communities across Atlantic County.”

“The residents of the Great City of Atlantic City deserve easy access to quality and nutritious foods right here in their hometown,” said City of Atlantic City Mayor Marty Small, Sr. “As my administration continues our quest to combat food insecurity issues, we are extremely grateful Governor Murphy, the First Lady, and the NJEDA recognize this glaring need exists in our city and are committed to ensuring our families do not struggle to put fresh food on the table.”

“For far too long, Atlantic City families have had limited options to buy fresh groceries. Under Governor Murphy and First Lady Murphy’s leadership, New Jersey is taking concrete steps to ensure every resident has access to convenient, affordable, and healthy grocery options,” said NJEDA Chief Executive Officer Tim Sullivan. “The innovative programs the NJEDA is supporting will strengthen food security in Atlantic City, creating stronger, healthier families and a more prosperous community. I appreciate the commitment of our state and local partners and look forward to working with them as we bring these new, creative ideas to Atlantic City.”

The NJEDA will sponsor initiatives led by two major healthcare systems in South Jersey to expand mobile and community-based food retail options, bringing fresh and affordable foods directly into Atlantic City communities. AtlantiCare is a South Jersey-based healthcare system which has long been addressing food insecurity by operating the Pantry in the Plex in Midtown from which it serves hundreds of local families on a weekly basis. With this sponsorship, AtlantiCare is able to further expand its food programming to include a retail mobile grocery. AtlantiCare will implement a multi-pronged approach including a weekly market and educational event featuring health education, incentives for purchasing healthy items, cooking demonstrations and classes, and assistance with online ordering. Combined, these efforts will support access to healthy food as well as teach community members about meal planning, preparation, and more.

NJEDA’s sponsorship with Virtua Health will allow the South Jersey-based healthcare system to bring their “Eat Well” mobile grocery store to Atlantic City, in addition to Virtua’s core operations in Burlington and Camden counties. Virtua’s mobile grocery store, which is a 40-foot refurbished New Jersey Transit bus, will allow Atlantic City residents to shop twice a week for fresh fruits and vegetables, fresh and frozen meat, dairy, eggs, and other basic grocery staples below-market prices.

The NJEDA will also launch the new $5.25 million Atlantic City Food Security Grants Pilot Program, which will provide grants ranging from $50,000 to $500,000 to fund projects to strengthen food security and food access in Atlantic City. Grants can be used for direct and indirect project costs. The pilot program, which the NJEDA Board approved in October, is meant to act as a more immediate response to the food access crisis in Atlantic City and to bring nutritious food options to the city as residents await the construction of a full-fledged supermarket, which can take years. The NJEDA is using American Rescue Plan Coronavirus State Fiscal Recovery Funds and general state funds to support the Atlantic City Food Security Grants Pilot Program.

The NJEDA Board also approved providing the New Jersey Department of Health (NJDOH) up to $250,000 to expand their Healthy Corner Store Initiative for stores in Atlantic City. The Healthy Corner Store Initiative, which is part of First Lady Murphy’s Nurture NJ food security initiative, works to improve access to healthy food and beverages in underserved communities, which often experience higher rates of chronic disease such as heart disease and diabetes.

In the coming months, the NJEDA plans to begin accepting applications for its Food Desert Supermarket Tax Credit program, which features a Supermarket Financing Gap Tax Credit for the development or rehabilitation of new supermarkets in FDCs and a Supermarket Initial Operating Costs Tax Credit to support the first three years of operations for these supermarkets. The tax credits are expected to create a feasible, sustainable path forward for a long-awaited supermarket in Atlantic City.

The NJEDA launched the Food Retail Innovation in Delivery Grant (FRIDG) program earlier this year, which helps food retailers to purchase and install temperature-controlled lockers to expand food delivery options for residents living in FDCs. Supermarket operators in the Atlantic City region are encouraged to apply for the FRIDG program, where recipients can receive up to $250,000 to purchase the lockers.

“We are proud to partner with the Administration in our shared commitment to eliminating health disparities for our residents who are dealing with food insecurity and living in food deserts,” said Acting Health Commissioner Dr. Kaitlan Baston. “By increasing access and availability to nutritious, affordable food, we are empowering residents to improve their own health.”

“I commend Governor Murphy, the First Lady and the NJEDA for continuing to invest in innovative approaches to better serve New Jerseyans and solve persistent challenges. These initiatives will help achieve food and nutrition security by bringing affordable, healthy, and nutritious foods directly to Atlantic City communities that do not have access to local grocery stores or markets today,” said Human Services Commissioner Sarah Adelman. “I also want to acknowledge the health care and community partners involved in these projects who recognize that regular access to healthy foods means healthier people and communities. Addressing barriers like transportation and affordability will make the difference for many families who right now have little to no access to healthy food options that are vital to their health.”

“Atlantic City cannot reach its full potential without grocery shopping options that offer fresh produce and high-quality food to the people who live and work in the community,” said New Jersey Department of Community Affairs Acting Commissioner Jacquelyn Suárez. “We understand that access to nutritious food will make a huge and positive impact on the health of people who live in Atlantic City, particularly the city’s youth. It will also make the city more attractive to visitors and potential residents. We thank Governor Murphy, First Lady Murphy, and the NJEDA for their creative approach to addressing food insecurity in Atlantic City.”

“The CRDA supports efforts for Atlantic City residents to have access to fresh and healthy food options,” said Casino Reinvestment Development Authority Executive Director Sean Pattwell. “The Murphy administration is taking important steps that will ensure they have the options they need to achieve this goal.”

“I applaud Governor Murphy and the NJEDA for deploying these trailblazing strategies to address food insecurity in Atlantic City,” said Mark Dinglasan, Executive Director of the NJ Office of the Food Security Advocate. “The Atlantic City Food Security Grants Pilot Program is a holistic approach to supporting innovative strategies that can bring partners together to collectively address community needs in one of New Jersey’s key cities. My team and I stand ready to support the NJEDA in whatever capacity as this program rolls out.”

“The social determinants of health are barriers to the well-being of our entire community and AtlantiCare is excited to partner with Governor Murphy and the New Jersey Economic Development Authority to address these underlying factors. Together, we can make a significant difference to those that need it most,” said Michael Charlton, president and CEO of AtlantiCare. “This funding will not only enable us to expand our food security initiatives and education programs, but more importantly, it will help us to address the root causes of health disparities that are so prevalent in Atlantic City. The health of our community extends beyond our medical facility. I am committed to addressing these issues and am confident that with the support and involvement of our staff, patients, and local partners, we can create a healthier, more equitable community for everyone we serve.”

“At Virtua Health, we view food as fundamental to health and wellness. Our Eat Well programs help ensure that South Jersey residents not only have access to fresh, affordable foods, but that they also receive guidance and support for embracing good nutrition as a lifestyle,” said Dennis W. Pullin, FACHE, president and CEO of Virtua Health. “We are honored to collaborate with Governor Murphy and the New Jersey Economic Development Authority to bring Virtua’s Eat Well Mobile Grocery Store to Atlantic City and explore new opportunities for food access.”

Please be advised that the next Capital City Redevelopment Corporation Board Meeting will be held in person and via teleconference on Tuesday, November 21, 2023, at 11:00 am. 

Members of the public who wish to speak during the public comment segment of the meeting, pertaining to agenda items, may attend in person or call into the meeting by using the conference number, and are encouraged to call in prior to the meeting start time to avoid any delays.

IN PERSON:

NJEDA Board Room

36 West State Street, Trenton, NJ 08625

TELECONFERENCE:

CONFERENCE NAME:                                CCRC BOARD MEETING

PARTICIPANT DIAL-IN NUMBER:              551-220-2262

PARTICIPANT ACCESS CODE:                    982 234 873#

The agenda can be found 48 hours prior to the meeting at our website: www.njeda.gov/ccrc.

Phase II offers $150,000 grants to qualifying social equity applicants

TRENTON, N.J. (November 13, 2023) —The New Jersey Economic Development Authority (NJEDA) announced today that the application for Phase II of its Cannabis Equity Grant Program will open on November 30, 2023, at 10:00 a.m. The second phase of the trailblazing program, offering the largest grant of its kind in the nation, will provide each eligible entrepreneur with a SeedEquity Grant of $150,000 and no-cost technical assistance.

The primary focus for Phase II of the Cannabis Equity Grant Program is to ensure the communities most adversely impacted by the War on Drugs have both equitable access to the lucrative cannabis industry and the resources needed to flourish. To this end, 100% of the Phase II SeedEquity Grant funding is reserved for qualifying social equity applicants, an increase from the 40% allocation in Phase I. In addition to the $150,000 in funding, Phase II includes an 8-week technical assistance program for grant recipients. The technical assistance program will provide training on converting a conditional license to an annual license, building a cannabis business team, financial management, securing investors, supply chain management, and more. To assist potential applicants, NJEDA will host a webinar on November 13, 2023, at 6:00 p.m.

“Under Governor Murphy’s leadership, New Jersey is on the forefront of creating a stronger and fairer cannabis market, especially for communities historically harmed by the unjust War on Drugs,” said NJEDA Chief Executive Officer Tim Sullivan. “The Seed Equity Grant, which is specifically designed for social equity applicants, will help create an equitable, inclusive marketplace that will create jobs and strengthen communities, all while ensuring our entrepreneurs are able to reap the industry’s economic benefits and have access to the resources needed to succeed.”

“We are excited to see grant funding being used to help social equity applicants realize their entrepreneurship dreams. Beyond the skills and business acumen it takes to be an entrepreneur in any industry, starting a cannabis business faces additional challenges – including limited access to traditional means of business funding,” said Cannabis Regulatory Commission (CRC) Chair Dianna Houenou. “By making these grants exclusively available to social equity businesses – that is, companies with majority owners who have prior marijuana convictions or live in an economically disadvantaged area – NJEDA is setting the example for establishing equitable funding initiatives. NJ-CRC Commissioners and staff see the hopes and dreams of those cannabis entrepreneurs every day, and we applaud every step that brings us towards making some of those dreams come true.”

“Reflecting on the successful outcomes of the Joint Ventures Grant, I’m immensely proud and excited to kick off the application process for the Seed Equity Grant. Building on our progress, this next phase intentionally targets funding to those communities historically excluded from these opportunities,” stated NJEDA Chief Community Development Officer Tai Cooper. “For those that are interested, we strongly encourage you to join us at our upcoming webinar on November 13th to learn more about the program and application process.”

The SeedEquity Grant will allocate a total of up to $8 million in funding for 48 entrepreneurs. Applicants must meet the New Jersey Cannabis Regulatory Commission’s criteria for social equity and have obtained a conditional license. Unlike with the Phase I Joint Ventures Grant, applicants do not need to have secured real estate or municipal approval. A free eligibility assessment tool is available online for those looking to verify if they meet the requirements. In addition to this, prospective applicants can register here to attend the upcoming Seed Equity Grant webinar on November 13, 2023, at 6:00 p.m. to ask questions and receive more information.

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, X, Instagram, and LinkedIn.