Press Releases Archives

The Strategic Innovation Center will support state-of-the-art aerospace research and innovation

TRENTON, N.J. (January 10, 2025) – Last month, the New Jersey Economic Development Authority (NJEDA) Board approved an $8.6 million investment to support the development and construction of the Aerospace Innovation Center (AIC), a Strategic Innovation Center (SIC) located in Atlantic County that will focus on the aerospace industry. The AIC, being developed in partnership with the Atlantic County Improvement Authority (ACIA), will be the fifth SIC in New Jersey and the first with a focus on innovation in aviation.

“This investment from the NJEDA builds upon New Jersey’s reputation as a leader in cultivating an innovation economy by expanding opportunities for aerospace research in our state,” said Governor Phil Murphy. “As our fifth Strategic Innovation Center, it will drive economic growth, create jobs, and continue to attract entrepreneurs to New Jersey.”

The AIC will be located in the National Aerospace Research & Technology Park (NARTP) in Egg Harbor Township. The Center will provide state-of-the-art aerospace research spaces, high-speed connectivity to the FAA William J. Hughes Center for Advanced Aerospace data systems and laboratories, and co-working and studio spaces that are ideal for collaboration and innovation.

“Atlantic County’s deep roots in the aerospace industry makes it a prime location for the Aerospace Innovation Center, where companies can test and further their products, while students and entrepreneurs make discoveries and create new technologies to help move the industry forward,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJEDA, under Governor Murphy’s leadership, has developed programs and initiatives to drive innovation, create jobs, and support sustainable long-term economic growth. Strategic Innovation Centers, like the AIC, is helping unlock opportunities for innovators to pursue research, testing, and development of cutting edge technologies.”

The AIC will be a 40,000-square-foot, two-story facility containing office and studios dedicated to research and development, innovation, and commercialization of emerging aerospace and aviation technologies. The innovation center will create hundreds of local, good-paying jobs in Atlantic County, including 130 permanent jobs and 114 construction jobs.

“The Aerospace Innovation Center is an incredible addition to the William J. Hughes FAA Technical Center and National Aerospace Research and Technology Park was made possible through the leadership of Governor Murphy and perseverance of New Jersey Economic Development Authority CEO Tim Sullivan,” said Senator Vince Polistina (R-Atlantic County). “Atlantic County is finally forging a path where people can be educated here, trained here, and have excellent opportunities for permanent employment in high-paying technical jobs.”

In addition to the NJEDA’s investment, the ACIA, NARTP and the Atlantic County Economic Alliance (ACEA), will contribute $10.5 million dollars in funding to construct the innovation center. Construction for the innovation center is underway and is expected to be completed in October 2025. The Center is expected to be fully operational in January 2026. ACIA is managing the construction of the facility and NARTP will manage the AIC’s operations.

“At ACIA, we are excited to collaborate with NARTP, ACEA, and NJEDA in the creation of the Aerospace Innovation Center,” stated Timothy Edmunds, Executive Director of the Atlantic County Improvement Authority. “This initiative represents a significant step forward in advancing aerospace innovation and research, and it is only be possible with the foresight and steadfast financial support of our Atlantic County partners whose vision laid the foundation for the success of the research park. We’re equally appreciative of Governor Murphy’s leadership and Senator Vince Polistina’s dedication, both of whom have been instrumental in turning the AIC into a reality. Together, these efforts are shaping a brighter, innovation-driven future for Atlantic County and beyond.”

“This $8 million investment in the Atlantic County New Jersey Aerospace Center represents a critical step forward for New Jersey’s innovation economy. By fostering research, development, and entrepreneurship within the aerospace industry, we are positioning the Garden State as a national leader in addressing the challenges of integrating advanced technologies, like drones and electric-powered flying taxis, into the National Airspace System,” said NARTP Chairman Major General Mark Loeben, USAF, retired. “I commend Governor Murphy, Tim Sullivan and the NJEDA, for their support. I especially commend Senator Polistina for his dedicated efforts in advancing the NARTP to the next level. I also thank our Atlantic County partners for their support in establishing and sustaining the NARTP.”

“We thank Governor Murphy for his leadership in driving innovation and economic growth in New Jersey. This $8.6million investment is a significant step forward for our state’s burgeoning aerospace industry. We also extend our sincere thanks to NJEDA President Tim Sullivan and his team for their dedication to advancing this transformative project,” said Michael Viscount, Chairman of the ACEA. “Additionally, we appreciate Senator Polistina’s strong advocacy and collaboration, which played an integral role in bringing this innovative vision to reality. Together, their support underscores the commitment to positioning New Jersey as a hub for aerospace research, development, and innovation.”

Additionally, the AIC will partner with Rowan University, Rutgers University School of Engineering, Stockton University, Embry-Riddle Aeronautical University, and the National Institute of Aerospace to provide university students hands-on experience and training.

SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and education opportunities. SICs can be accelerators, incubators, or research centers. Having a physical location where entrepreneurs can collaborate will help support new, diverse innovators and help drive long-term economic growth. SICs bring together government, Industry Partners, and University Partners around a central innovation focus.

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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Please be advised that a Special Board Meeting of the New Jersey Motion Picture and Television Commission will be held via teleconference only on Thursday, January 16, 2025, 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 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.

Teleconference #:
+1 551-220-2262

Phone Conference ID:
844 929 425#

The agenda can be found 48 hours prior to the meeting at the NJ Motion Picture & Television Commission website.

Camden development project will include a Federally Qualified Health Center

TRENTON, N.J. (January 7, 2025) – At its December meeting, the New Jersey Economic Development Authority (NJEDA) Board approved Aspire tax credit awards for two residential development projects in Camden and Trenton, marking the culmination of another productive year for the Aspire program. Throughout 2024, the program supported 11 residential projects, creating 2,078 housing units, of which 710 are designated as affordable. To date, the program has provided more than $2.5 billion in total awards, supporting catalytic developments across the state.

“The Aspire Program is a key element of Governor Phil Murphy’s strategy for a stronger and more equitable economy, aimed at expanding access to affordable housing and making investments in communities throughout the state,” said NJEDA Chief Executive Officer Tim Sullivan. “The developments approved yesterday and throughout the year will help drive long-term growth and prosperity across the state by providing high-quality, affordable housing, as well as critical health care and social services for families and seniors.”

The mixed-use development project in Camden, known as Parkside Place I and Parkside Place II, will include residential units, retail space, and a Federally Qualified Health Center (FQHC). The project will replace blighted properties and vacant lots along Haddon Avenue with two newly constructed buildings.

Parkside Place I, a four-story building, will include 24 affordable residential units and a FQHC. The FQHC will be operated by Osborn Family Health Center (OFHC), which was established in 1974 in the Parkside neighborhood. The health center will provide OB/GYN care, family practice, pediatrics, dental care, and behavioral health services. Parkside Place II will be a three-story building consisting of six affordable housing units. The ground floor will include over 4,000 square feet of retail and office space.

Parkside Camden Urban Renewal, LLC was approved for up to 60 percent of the total project cost, not to exceed $17.7 million. The project is also supported by NJHMFA Low-Income Housing Tax Credits.

“Thanks to Governor Phil Murphy’s leadership, Aspire tax credits are having a tangible and beneficial impact on the State’s urban communities,” said Camden Mayor Victor G. Carstarphen. “In the City of Camden, residents benefit not only from the creation of new quality housing units, but also from improved access to healthcare services which can only create better health outcomes for those at risk. My administration is proud to work with Governor Murphy, NJEDA CEO Tim Sullivan, and NJHMFA Executive Director Melanie Walter to continue the economic progress taking place in neighborhoods across the state and the undeniable transformation in Camden.”

Located at 801-833 Brunswick Avenue in Trenton, OAHS Brunswick TC LLC will renovate eight existing affordable apartment buildings, known as Brunswick Village, encompassing 110 one-, two-, and three-bedroom units. Six of those units will be specifically designed to meet requirements set by the Americans with Disabilities Act. Programs such as financial literacy courses, computer classes, and homeowner workshops will be offered to residents.

OAHS Brunswick TC LLC was approved for up to 51 percent of the total project cost, not to exceed $22.76 million. The project is also supported by Low-Income Housing Tax Credits through the New Jersey Housing and Mortgage Finance Agency (NJHMFA).

“I am thrilled to hear that the Brunswick Village rehabilitation project is moving forward with the support of Aspire tax credits,” said Mayor W. Reed Gusciora of Trenton. “This is a significant step forward for our city, as it will not only improve the living conditions for local residents but also provide vital housing options for the dedicated health care workers at Capital Health. The revitalization of this property is a testament to our commitment to fostering growth and creating vibrant, sustainable communities in Trenton.”

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. All residential Aspire projects must include at least 20 percent affordable housing. As a performance-based program, projects must certify that all commitments established at time of approval have been met before receiving their first disbursement of tax credits.

About the NJEDA

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TRENTON, N.J. (January 3, 2025) – The New Jersey Commission on Science, Innovation and Technology (CSIT) awarded over $500,000 in funding to seven New Jersey startups under the Food and Agriculture Research & Development Pilot Seed Grant Program. The funding will support startup companies in the development of commercially viable technologies that combat food insecurity, helping to increase access to nutritious foods and alleviate food deserts.

“CSIT continues to provide robust support to early-stage startups in New Jersey, creating an unrivaled innovation ecosystem that strengthens the state’s economic competitiveness,” said CSIT Executive Director Judith Sheft. “The grant awardees announced today are developing technologies and products that will promote New Jersey’s food security initiatives, keeping the state at the forefront of innovation.”

“Under Governor Phil Murphy’s leadership, New Jersey’s startup companies are developing important technologies that exemplify the state’s position as a national leader in innovation,” said New Jersey Economic Development Authority (NJEDA) Chief Executive Officer Tim Sullivan. “The ingenuity of the state’s entrepreneurs compliments the food security efforts of the NJEDA, supporting innovative solutions to eradicate food deserts and increase access to healthy, affordable food.”

The Food and Agriculture Research & Development Pilot Seed Grant Program supports the development of technology and other solutions to address food insecurity in New Jersey. Awardees are developing new technologies in target areas including agricultural innovation and pesticide efficiency.

“Congratulations to the seven grant awardees,” said CSIT Chair and BioNJ President and CEO Debbie Hart. “Through initiatives such as the Food and Agriculture Research & Development Pilot Seed Grant Program, CSIT is proud to play a pivotal role in supporting early-stage start-ups in New Jersey, cultivating a vibrant innovation ecosystem that fuels economic growth and competitiveness. We commend these companies for their work in developing potentially groundbreaking technologies and innovative solutions to address food insecurity and related issues across the State and that could become solutions for the world.”

A full list of awardees can be found below:

AGEless Biotechnologies (Bergen County): Developing applications for a multi-functional protein modification platform, which offers functional improvements to various protein-based products in the biomedical and food sectors.
Fork & Goode, Inc. (Hudson County): Creates cultivated pork by using a patented process that maximizes yield.
Gather Agriculture, Inc. (Hudson County): Develops food resiliency on farms by building simplified robotic tools for farms and farmworkers to increase harvest efficiency and farmworker safety.
Hydronos Labs LLC (Mercer County): Developing and providing a key structured data layer for the global weather and climate risk transfer market via its TerraCognos software platform, which uses the complementary strengths of satellite observations, ground-based sensor networks, computational climate reanalysis, advanced hydrologic modeling, and short-term to seasonal weather forecasting.
Inspired Growing, Inc. (Hudson County): Harnesses cutting-edge indoor vertical farming technology to directly combat food insecurity in New Jersey while fostering healthy eating habits.
Mycsology Foods Inc. (Mercer County): Developing a solid-state fermentation technology platform to produce nutrient-dense, high-protein ingredients, unlocking previously indigestible and inaccessible nutrients from legumes and grains to create sustainable ingredients and foods.
Neoventech LLC (Mercer County): Improving pesticide application efficiency to ensure more effective pest control, leading to increased crop and fruit yields, increased overall food availability, and reduced risk of shortages.

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.

About the NJEDA

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

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Board also allocates additional funding to support new Atlantic City Revitalization Grant Program applications

TRENTON, N.J. (January 3, 2025) – Last month, the New Jersey Economic Development Authority (NJEDA) Board approved a $4.2 million Atlantic City Revitalization Grant Program award to support the expansion of the Showboat Family Entertainment Center. The Board also allocated nearly $4 million in supplement funding to support the reopening of the application window for the Atlantic City Revitalization Grant Program in the coming months. This will allow NJEDA to accept new applications and continue to support construction projects throughout Atlantic City.

“Under Governor Phil Murphy’s leadership, New Jersey has focused on investing in Atlantic City to foster sustainable and inclusive economic growth that will have an impact for years to come,” said NJEDA Chief Executive Officer Tim Sullivan. “With this award, Showboat can expand their family-friendly entertainment options and make significant upgrades to continue attracting residents and visitors. The NJEDA is excited to reopen applications for the Atlantic City Revitalization Grant Program so we can continue supporting major redevelopment projects, bolster small businesses, enhance downtown vitality, and create good-paying jobs to uplift families throughout the city.”

“The Showboat Family Entertainment Center has ushered in a new era for Atlantic City – one that offers attractions for families with children of all ages,” said Jacquelyn A. Suárez, Commissioner of the New Jersey Department of Community Affairs, which oversees Atlantic City’s budget and finances. “We’re excited by the success of the family-friendly Showboat and are thrilled it is already expanding to include more attractions for kids and the young at heart. This venue demonstrates that creative projects can flourish in Atlantic City and that the Murphy Administration stands ready to support such projects that positively impact the community.”

The investment into Showboat will support the expansion of the Showboat Family Entertainment Center located on the Atlantic City Boardwalk. The project will include an 18,000 square foot expansion to the Lucky Snake Arcade and Raceway, as well as the purchase and installation of additional arcade games and attractions. The project will also include the construction of the open-air entryway along the Showboat’s boardwalk facade, additional food and beverage outlets, installation of a ten-lane bowling alley, and a kids play area with private party rooms.

Currently, Showboat is one of the few places in Atlantic City that offers year-round indoor family-friendly entertainment options. This expansion will allow for the Showboat to update and upgrade its current entertainment center, so that it may continue offering reasonably priced entertainment that is appropriate for families. With these enhancements, Showboat will now also look to offer additional educational and sporting activities for local schools and organizations to utilize this space throughout the year.

“Showboat is thrilled with the support of the State of New Jersey in furthering year-round family friendly entertainment in Atlantic City,” said Bart Blatstein, Owner of Showboat Properties, LLC. “Atlantic City has been in the past, and will be again, a world class destination.”

The NJEDA Board also approved the allocation of nearly $4 million in American Rescue Plan funds to support the reopening of the Atlantic City Revitalization Grant Program. Grant awards will continue to support up to 50 percent of costs of capital projects located within Atlantic City and will now be awarded at a minimum of $250,000 and a maximum of $2.5 million. New applications will be accepted on a rolling basis.

Approved in December 2023, the Atlantic City Revitalization Grant Program focuses on addressing the negative impacts of COVID-19 by supporting real estate development projects, including the rehabilitation of existing structure or new construction. By investing in communities by repurposing underutilized properties, this grant program promotes economic growth and community wealth building within Atlantic City.

About the NJEDA

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11 early-stage startups will receive grant funding

TRENTON, N.J. (January 3, 2025) – The New Jersey Commission on Science, Innovation and Technology (CSIT) awarded over $2.7 million in grant funding to 11 New Jersey startups under Round Two of the Pilot Clean Tech Demonstration Grant Program. The funding will support pilot demonstration projects from startup companies creating technologies that mitigate the emission of greenhouse gases and other pollutants.

“The innovative ideas of New Jersey entrepreneurs are essential to helping the state achieve its clean energy goals,” said CSIT Executive Director Judith Sheft. “Awardees under Round Two of the Pilot Clean Tech Demonstration Program are developing technologies that will address the carbon footprint of concrete, divert packaging waste from landfills, and the infrastructure needed to support the transition to electric vehicles, exemplifying New Jersey’s standing as a hub of innovation.”

“Under Governor Phil Murphy’s leadership, New Jersey has set some of the most ambitious clean energy goals in the country, supporting the creation of high-quality jobs and protecting the environment for future generations,” said New Jersey Economic Development Authority (NJEDA) Chief Executive Officer Tim Sullivan. “New Jersey’s startup companies are at the forefront of creative and transformative technologies that will move New Jersey closer to its goal of 100 percent clean electricity by 2035.”

Round Two of the Pilot Clean Tech Demonstration Program awarded 11 early-stage startups with more than $2.7 million in grant funding, supporting pilot demonstration projects to transform new clean tech discoveries from research stage into commercially viable products and services. Awardees plan to demonstrate new technologies in technology areas including energy storage and distribution and waste processing.

In 2023, the NJEDA awarded more than $3.6 million to 14 startup companies under Round One of the pilot program. Combined, both rounds have awarded over $5 million to support demonstration projects conducted by innovative New Jersey companies, accelerating the commercialization and deployment of clean energy technologies.

“Congratulations to the 11 grant awardees of the Pilot Clean Tech Demonstration Grant Program,” said CSIT Chair and BioNJ President and CEO Debbie Hart. “CSIT is proud to support innovative startups that are advancing clean tech breakthroughs that have the potential and promise to become environment-altering, commercially viable solutions — a testament to the extraordinary innovation emerging from New Jersey.”

Funding for Round 2 of the Pilot Clean Tech Demonstration Program is provided through a Memorandum of Understanding (MOU) between the NJEDA and the New Jersey Board of Public Utilities (NJBPU) to support early-stage, New Jersey-based clean tech companies.

“The NJBPU is excited to partner with our sister state agencies to support New Jersey-based clean energy start-ups through the Clean Tech Pilot Demonstration Grant Program,” said NJBPU President Christine Guhl-Sadovy. “The Clean Tech Pilot Programs build on New Jersey’s long history of innovation by helping develop and deploy new technologies that can play an important role in mitigating the effects of climate change, benefiting us all in the future.”

A full list of awardees can be found below:

AIVacua LLC (Somerset County): Demonstrating an innovative spray flash distillation technology to be an integrated part of a cost-effective and scalable solution for use in water treatment.
Amatec Inc. (Essex County): Created an alternative material to cementitious concrete: high-density gypsum (HDG) concrete, which enables the company to eliminate the culprit behind concrete’s enormous carbon footprint.
Bezwada Biomedical (Somerset County): Demonstrating and testing the innovation of proprietary biodegradable polyurethanes developed by the company for use in packaging and consumer product applications to avoid greenhouse gas emissions by diverting the waste from landfills.
Cecilia Energy, Inc. (Essex County): Demonstrating a modular, microwave-based system that upcycles plastic waste into hydrogen and carbon nanotubes (CNTs), addressing plastic waste management.
Coulomb Technology, Inc. (Somerset County): Demonstrating a 5Ah zinc-ion battery for use in energy storage applications, which are safer, faster charging, and half the cost of incumbent Lithium Iron Phosphate (LFP) batteries.
EV Edison (Hudson County): Achieved full proof of concept for a mobile electric vehicle (EV) charging platform to deliver mobile EV charging to small, medium, and heavy-duty vehicles, establishing EV charging sites “on-demand.”
InnoSepra LLC (Warren County): Demonstrating its biogas-upgrading technology at a wastewater treatment plant or landfill in New Jersey, which upgrades raw biogas to 92-98 percent purity methane.
NanoSepex Inc. (Middlesex County): Demonstrating innovative membrane technology and process for use in solvent recovery and recycling, biofuel refining, and treatment of aqueous waste streams containing low-concentration solvents and volatile organic compounds.
Pollux Technologies (Middlesex County): Developing a novel filter monitoring technology for use in heating, ventilation, and air conditioning systems, which sends sensor data or post-processed soil parameters to a cloud server via a Wi-Fi or 5G cellular network with Internet of Things capability.
PureLi Inc. (Somerset County): Demonstrating an interfacial crystallization process with superior performance in extracting lithium from saline water sources compared to current commercial operations, improving the throughput by 60 to 80 times and doubling lithium selectivity.
PureNanoTech Inc. (Morris County): Demonstrating a next generation nanobubble technology designed to enhance wastewater treatment processes, improving efficiency and effectiveness.

About the NJEDA

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Please be advised that a Board Meeting for the New Jersey Green Bank will be held in person and via teleconference on Thursday, January 9, 2025, at 1:00 p.m.

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:

New Jersey Economic Development Authority

NJEDA Board Room

36 West State Street, Trenton, NJ 08625

The agenda and teleconference number can be found 48 hours prior to the meeting here.

TRENTON, N.J. (December 20, 2024) – The New Jersey Motion Picture and Television Commission (NJMPTVC), under the New Jersey Economic Development Authority (NJEDA), is extending the open public comment period for amendments to the Commission’s Film Ready New Jersey Program requirements until Friday, January 3, 2025.

WHAT: The Film Ready New Jersey Program is a multi-step training and certification program that prepares communities to accommodate and support movie and television productions and effectively market municipalities as film destinations. The proposed changes aim to introduce greater program consistency, enhancing New Jersey’s competitiveness with other states in attracting film productions. The new requirements will focus on filming guidelines and associated fees.

The document can be found here.

WHEN: Feedback must be submitted in writing no later than 5:00 p.m. Friday, January 3, 2025. Written feedback can be submitted to filmreadynj@njeda.gov.

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State-of-the-art production studio campus at Fort Monmouth expected to create thousands of local jobs

TRENTON, N.J. (December 19, 2024) – The New Jersey Economic Development Authority (NJEDA) Board today approved Aspire tax credits for the Netflix Studio at Fort Monmouth. The studio will serve as Netflix’s flagship production location on the East Coast, which will redevelop the vacant Fort Monmouth campus and bring new, good-paying jobs to the area.

“With Netflix leading the way, the creation of new, world-class studios has solidified New Jersey’s standing as a national leader in film and television production,” said Governor Phil Murphy. “The approval made by the NJEDA Board today will help create thousands of good-paying jobs, support small businesses and vendors, and stimulate the regional economy.”

Netflix Studio is considered a transformative project under the Aspire Program and was approved for an award not to exceed $387 million. The studio campus will be over one million square feet and sit on a 292-acre parcel at Fort Monmouth. The state-of-the-art production studio campus will include 12 soundstages, backlot areas, an office building, and other production support facilities. Netflix plans to open the full facility in 2028.

“Under Governor Murphy’s leadership, the film industry is growing in New Jersey, exemplified by Netflix’s commitment to build a major, world-class studio at Fort Monmouth,” said NJEDA Chief Executive Officer Tim Sullivan. “The Aspire Program will ensure the continued development of this transformative project, which will bring good-paying union construction and permanent jobs. The Netflix Studio will prove to be an economic gamechanger for the residents and small businesses of Monmouth County.”

Earlier this year, the NJEDA Board designated Netflix as a Studio Partner, allowing the media company to access expanded benefits under the state’s Film and Digital Media Tax Credit program. Under the designation agreement, Netflix commits to occupy a New Jersey film production facility for at least 10 years and is potentially eligible for a 40 percent base tax credit for qualified production expenses on future New Jersey film projects.

“We are grateful to receive support from Governor Murphy, the local officials in Oceanport and Eatontown, and the NJEDA to help build Netflix Studios at Fort Monmouth,” said Ted Sarandos, co-CEO of Netflix. “This new studio will catalyze job creation and economic growth, contributing to a vibrant production ecosystem in New Jersey.”

Founded in 1997, Netflix is one of the world’s leading entertainment services, offering subscription video-on-demand and over-the-top streaming services for movies, television shows, and games. In 2013, Netflix established its original content division and has since filmed several productions in New Jersey, such as The Irishman, The Perfect Find, and The Watcher.

“The film industry is thriving across New Jersey, and Netflix’s commitment to building a first-rate studio in Monmouth County highlights our state’s growing prominence in this field,” said Senator Vin Gopal. “This project will prove to have a significant impact on our local economy by helping to create jobs, support small businesses, and revitalize communities. I am grateful for the leadership of Governor Murphy and the NJEDA in fostering this growth and look forward to working with Netflix, as well as our local and state partners to help continue the development of this major studio.”

“I’m excited to see the amazing progress of the Netflix Fort Monmouth project over the last few weeks,” said Senator Declan O’Scanlon. “The Oceanport & Eatontown Planning Board approvals, followed by today’s award of Aspire tax credits, clears the path for this regionally transformative project to move forward. Local land use and State tax policy, impact business decisions and I’m thrilled to see all pulling in the same direction.”

“For several generations, Oceanport’s identity was tied to Fort Monmouth and Monmouth Park Racetrack. Monmouth Park came close to closing in 2012 and Fort Monmouth actually closed in 2010. Thanks to the hard work, meticulous planning and visionary land use projections of the NJEDA and FMERA, Oceanport’s identity for generations to come will be tied to Monmouth Park Racetrack and Netflix,” said Oceanport Mayor Thomas Tvrdik. “That Oceanport, Eatontown, and Monmouth County will serve as the East Coast hub of the world’s pre-eminent and most recognized creator of entertainment when this billion dollar build out is completed is nothing short of remarkable. Oceanport is very excited to welcome Netflix into our community and we stand ready, willing, and able to ensure that the final part of Fort Monmouth’s transformation from a closed off military facility to a mixed use site that is part and parcel of the Oceanport community is a quick and successful one.”

“The Borough of Eatontown is excited to enter the next phase of the Netflix project. We are grateful for the opportunity to work collaboratively with Mayor Tvrdik in Oceanport and the FMERA team led by Kara Kopach,” said Eatontown Mayor Anthony Talerico, Jr. “While nothing can replace the emotional and sentimental loss from the closure of Fort Monmouth, we are happy that vibrant new life will be brought to the area in such a large and innovative project.”

This is the second production studio approved for Aspire tax credits this year. In June, the NJEDA Board approved 1888 Studios for tax credits under the Aspire Program. The studio, developed by Togus Urban Renewal, will be the largest and first campus-style film and television studio facility in the Northeast, and will occupy 58 acres of land just minutes from New York City.

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. As a performance-based program, projects must certify that all commitments established at time of approval have been met before receiving their first disbursement of tax credits. Netflix Studios is the third transformative project approved under the new Aspire rules, which the NJEDA adopted in November 2023.

In line with Governor Murphy’s 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 NJEDA

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Expanded website showcases massive volume of research being conducted statewide

TRENTON, N.J. (December 18, 2024) – The New Jersey Commission on Science, Innovation and Technology (CSIT) today announced the expansion of the website for ResearchwithNJ from five to eight leading research institutions, resulting in more than 365,000 pieces of research output and close to 7,000 researcher profiles. The robust platform, used globally, connects companies, faculty, and entrepreneurs with the goal of growing more academic research and business collaborations.

The recent site expansion adds participation by all New Jersey urban research university and medical schools spending greater than $5 million in research and development funding annually. Stevens Institute of Technology was added to the site in late 2023. With the recent expansion, Hackensack Meridian School of Medicine has been added to the platform, and Kean University will be added to the site in December 2024.

The expanded ResearchwithNJ site offers details about research taking place at Kean University, Hackensack Meridian, Montclair State, the New Jersey Institute of Technology (NJIT), Princeton University/Princeton Plasma Physics Laboratory, Rowan University, Rutgers, the State University of New Jersey, and Stevens Institute of Technology.

The expansion of ResearchwithNJ’s website will add hundreds of research outputs, faculty profiles, research facilities, grants, and award publications to the site. The site provides local, national, and international innovation communities with insight into groundbreaking research being conducted at New Jersey universities.

The free, online portal offers more than 365,000 pieces of research output and profiles close to 7,000 investigators that commercial enterprises, from startups to global corporations, can use to fuel their growth. Topics range across a broad spectrum of disciplines, such as biology, chemistry, mathematics, engineering, artificial intelligence, computer science, and others.

“Our close ties to both the startup community and the state’s many academic institutions made the management of ResearchwithNJ by CSIT a natural fit,” said CSIT Executive Director Judith Sheft. “We anticipate this expansion of ResearchwithNJ, combined with our ongoing efforts to expand outreach to emerging companies and academic professionals, will help strengthen connections between New Jersey’s research universities and the industry.”

ResearchwithNJ highlights the Garden State’s leading research experts and facilities, enhancing the visibility of research output. It also increases opportunities for users to create partnerships and build innovative new businesses and products based on the latest scientific and technological breakthroughs. Businesses can gain access to relevant areas of expertise, facilitating the transfer of technology to the marketplace. This includes information on subject matter experts, facilities, publications, intellectual property, news, and events. Investors considering investing in a startup can also leverage ResearchwithNJ to learn about research done by members of the company prior to investment.

“One of New Jersey’s greatest assets is our vast network of globally recognized universities, including all of the academic institutions that are a part of the ResearchwithNJ portal,” said CSIT Vice Chair Debbie Hart. “Through ResearchwithNJ, we are harnessing the brainpower of our state’s highly talented researchers and providing their intellectual data, free of charge, to individuals worldwide in order to help propel our innovation ecosystem forward.”

To date, the ResearchwithNJ platform has sourced nearly 365,000 outputs from all participating universities, incorporating more than 6,800 individual profiles, over 160 core facilities, and grants/projects topping 12,700.

“ResearchwithNJ is bridging academia and industry to amplify the impact of institutional research being done across New Jersey,” said Dr. Brian Bridges, Secretary of Higher Education. “By showcasing our researchers and intellectual capital, it positions the state as a hub for innovation and collaboration, fosters opportunities for students and faculty to engage impactful industry-relevant projects, and showcases how higher education is actively working to solve real-world challenges.”

“We are excited to launch Research with Hackensack with the New Jersey Commission on Science, Innovation, and Technology and the State of New Jersey. The platform will be piloted with data from the Center for Discovery Innovation and the School of Medicine. The global platform will showcase our renown researchers, research outputs, grants/projects, and research units with the aim of building research/business collaborative and partnerships,” said Dr. Sandra Elliot, Vice President, Chief Innovation and Commercialization Officer, Hackensack Meridian Health.

“Kean University is proud to join ResearchwithNJ, a global site that will highlight the rich and robust STEM-based research outputs, faculty, facilities, grants/outputs at the university. As the university strives toward R2 status, implements on recent prestigious Federal Grants to Increase Diversity in Biomedical Sciences and computational science fields, and builds greater commercialization pathways for research entrepreneurs, our inclusion onto Research with NJ further validates the academic rigor of our university,” said Dr. Keith Bostian, Associate Provost, Science and Technology, Kean University, CEO, Institute for Life Science Entrepreneurship.

“Stevens Institute of Technology’s integration into ResearchwithNJ reflects our commitment to making transformative research accessible to industry partners and entrepreneurs,” said Ed Synakowski, Vice Provost for Research and Innovation at Stevens Institute of Technology. “With our research spanning artificial intelligence, climate resilience, sustainable energy and healthcare innovation, Stevens is experiencing unprecedented growth in research funding under our Strategic Plan. This partnership with ResearchwithNJ creates new pathways for companies to tap into our expertise and accelerates the translation of academic discoveries into real-world solutions that benefit New Jersey and beyond.”

ResearchwithNJ was developed under the leadership of an Advisory Board consisting of the participating research universities and industry representatives from the NJEDA, OSHE, New Jersey Business & Industry Association, Choose New Jersey, BioNJ, the HealthCare Institute of New Jersey, the R&D Council of New Jersey, and TechUnited. The Advisory Board provides oversight and recommendations to ensure the portal’s sustainability and success.

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