Symphony Center at Powerhouse Arts District in Jersey City will offer state-of-the-art performance and education facilities

TRENTON, N.J. (May 14, 2026) – Yesterday, the New Jersey Economic Development Authority (NJEDA) Board approved more than $29 million in tax credits under the Cultural Arts Facilities Expansion (CAFE) Program to New Jersey Symphony in support of the Symphony Center at the Powerhouse Arts District in Jersey City. The project will create a new, permanent venue and administrative space for New Jersey Symphony, expand free and low-cost arts programming, and advance neighborhood revitalization.

“New Jersey’s booming arts and culture sector continues to create impactful economic opportunities, enhancing quality of life in local communities and supporting high-quality jobs across the state,” said NJEDA Chief Executive Officer Evan Weiss. “The NJEDA is committed to supporting cultural institutions like New Jersey Symphony as it expands artistic offerings and educational initiatives, cultivating new generations of artists and catalyzing neighborhood vitality.”

The Symphony Center at Powerhouse Arts District, located at 151 Bay Street in Jersey City, will include a 550-seat performance hall, dedicated rehearsal and production spaces, and rooms to host year-round cultural arts educational classes, workshops, and afterschool programs. The center will host more than 100 public performances annually, including orchestral concerts, jazz, film, spoken word, and multimedia productions, and encourage community engagement through civic events, artist residencies, public forums, and cultural celebrations.

Founded in 1922, New Jersey Symphony, one of the oldest and largest performing arts organizations in the state, reaches more than 140,000 people annually through live performances, education, and wellness programs in over 100 New Jersey communities. The Symphony Center project will expand the Symphony’s reach in Hudson County region, creating new jobs and increasing access to arts education.

“This expansion is a transformative moment for New Jersey Symphony, Hudson County, and for Jersey City. With the NJEDA’s support for the Symphony Center, which will become the first fully managed facility by New Jersey Symphony, we can expand our performances and education programs into Jersey City,” said New Jersey Symphony President & CEO Terry D. Loftis. “This expansion continues our deep commitment to Newark and other communities throughout New Jersey, where our mainstage concerts, community events, and education programs impact the lives of thousands each year. As the Symphony’s president and CEO, and as a resident of Jersey City, I am excited about the opportunities this new chapter creates for our community, and I look forward to welcoming everyone to the Symphony Center.”

The center will be an anchor institution of the Powerhouse Arts District, a cultural corridor in Jersey City within walking distance of dense residential and commercial development and accessible by PATH train, Hudson-Bergen Light Rail, NJ Transit buses, and the NYC Ferry.

“The New Jersey Symphony Orchestra choosing Jersey City as its permanent home is a significant moment for our city and the entire region. The Symphony Center at Powerhouse Arts District will be a world-class performance venue and a civic anchor, bringing free and low-cost arts programming to Hudson County residents,” said Jersey City Mayor James Solomon. “Jersey City has invested deeply in building the Powerhouse Arts District into a thriving cultural corridor, and this $29 million commitment from the NJEDA reflects exactly what’s possible when state and local partners align around a shared vision. We are proud to welcome the New Jersey Symphony home.”

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

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

The NJEDA is not currently accepting new applications under the CAFE Program, but stakeholders are encouraged to visit www.njeda.gov/cafe periodically for up-to-date information.

About the NJEDA

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

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (May 1, 2026) – The New Jersey Economic Development Authority (NJEDA) is now accepting applications for the Technology Business Tax Certificate Transfer Program, commonly known as the Net Operating Loss (NOL) program. The NOL program allows early-stage technology and life sciences companies in New Jersey to sell a percentage of their net operating losses and unused research and development (R&D) tax credits to unrelated profitable corporations for cash.  

WHAT:            The NOL program supports innovative start-ups by enabling qualified, unprofitable New Jersey-based technology or biotechnology companies with fewer than 225 U.S. employees to sell a percentage of its net operating losses and R&D tax credits. Participants can use the capital raised through the NOL program to help cover allowable costs incurred in connection with operating their businesses such as salaries, R&D, and other working capital expenditures

In 2025, an economic impact assessment found that the NOL Program is crucial to driving economic activity and enhancing business sustainability in the state, with more than half of the 589 program recipients continuing to operate in New Jersey and employ an estimated 31,200 workers.

WHO:               Technology and biotechnology companies with no more than 224 employees are eligible to apply for the NOL Program. Up to $75 million is available annually, with up to $15 million set aside for businesses located in Innovation Zones, Opportunity Zones, or New Jersey-certified minority and/or woman-owned businesses.

WHEN:            Applications for the NOL Program opened today, May 1, at 10:00 a.m. Applications will close on Tuesday, June 30, at 11:59 p.m.

An informational webinar will be held on Thursday, May 21 at 12:00 p.m. To register, click here.

Full application and eligibility requirements can be found here.

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 the Commission of Science, Innovation and Technology (CSIT) Annual Board meeting is scheduled for Friday, May 1^st, 2026 at 10:00 AM.

A copy of the proposed agenda can be found at https://www.njcsit.gov/

EVENT ENTRANCE ADDRESS:

Profeta Center – NJIT, New Jersey Institute of Technology

211 Warren St, Newark, NJ 07103

PARKING GARAGE ADDRESS:

Science and Technology Parking Garage – 42 Wilsey Street, Newark, NJ 07103

Parking is complimentary for this event

Parking Instructions

MICROSOFT TEAMS:

Join the meeting now

Meeting ID: 270 177 759 773 1 | Passcode: Zi9be2ac

Please be advised that The New Jersey Motion Picture and Television Commission meeting scheduled for 10:30AM, Wednesday, April 29, 2026, is hereby rescheduled to 10:30AM Wednesday, April 22, 2026. The meeting will be held in person and via teleconference.

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

One Gateway Center

11-43 Raymond Plaza West, 14^th Floor, Newark, NJ 07102

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

TRENTON, N.J. (April 9, 2026) – The New Jersey Economic Development Authority (NJEDA) will open applications for the New Jersey Lending for Equity, Access, and Financing (NJ LEAF) Program on Monday, April 20, 2026. The $15 million loan program will provide low-cost financing of up to $1.5 million to recreational eligible cannabis manufacturers, cultivators, and testing laboratories, expanding upon NJEDA’s already established cannabis-focused financial tools, empowering small businesses, and advancing the State’s commitment to equitable economic development.

WHAT:            The NJ LEAF Program will provide lending options for both fixed assets and working capital, helping eligible businesses grow and stabilize their operations in New Jersey. Fixed asset loan amounts will range from $100,000 to a maximum of $1.5 million, and working capital support loans will extend from $100,000 to a maximum of $500,000. The funding options offer valuable resources for cannabis businesses to invest in property, upgrade equipment, and cover day-to-day operational expenses.

WHO:              Eligible businesses must hold a valid and current recreational Class 1- Cannabis Cultivator, Class 2 – Cannabis Manufacturer, or Testing Laboratory annual license digital card as per the final recommendation issued by the New Jersey Cannabis Regulatory Commission (NJCRC). In addition, businesses must be based in New Jersey, employ fewer than 250 full-time employees, and must have been in operation for at least one calendar year with annual gross revenues of $5 million or less.

Five percent of funding under the program will be set aside for businesses located in Impact Zones, which are areas designated by NJCRC statute that were disproportionately impacted by cannabis prohibition and meet other statutory criteria.

For more information on eligibility and funding uses, visit www.njeda.gov/nj-leaf or email businessbanking@njeda.gov.

WHEN:           Applications for the NJ LEAF Program will open on Monday, April 20, 2026, at 10:00 a.m. Click here to apply.

An informational webinar will be held on Thursday, April 16, 2026, at 10:00 a.m. Click here to register.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (April 2, 2026) – The New Jersey Economic Development Authority (NJEDA) congratulated ofi (olam food ingredients), a leading global supplier of food and beverage ingredients and solutions, on the grand opening of its new East Coast Distribution Center. The Singapore-based company will occupy a newly-constructed 574,000 square-foot warehouse in East Greenwich Township.

“I am thrilled that ofi has chosen New Jersey as the location of its East Coast Distribution Center. Their decision will benefit our economy, and it reflects a substantial investment in the hard-working people of South Jersey,” said Governor Mikie Sherrill. “My Administration remains committed to strengthening New Jersey’s standing as a premier destination to start and grow a business.”

The NJEDA attended ofi’s East Coast Distribution Center ribbon cutting on February 19. With more than 110 manufacturing facilities worldwide and a diversified portfolio across cocoa, coffee, dairy, nuts and spices, ofi provides value-added ingredients and solutions, backed by innovation and sustainability impact programs to meet consumer demand for health, taste, indulgence and other trends.

“We are excited to welcome ofi, a cutting-edge leader in its field, to the great State of New Jersey,” said NJEDA Chief Executive Officer Evan Weiss. “ofi’s investment into New Jersey is a testament to the state’s global competitiveness, prime location, and high-quality talent pool. This new distribution center will be an economic gamechanger for the South Jersey region, helping to create new jobs and long-term sustainability.”

The East Greenwich location is strategically located less than 20 miles from the Philadelphia port and less than 100 miles from New Jersey’s major ports in Newark and Elizabeth.

“We are delighted to join the East Greenwich community and thank them for their very warm welcome and incredible support,” said M.Sathyamurthy, CEO & Managing Director, ofi Americas. “We chose this location for our East Coast Distribution Center due to a number of criteria, most notably, the exceptional workforce and the easy access to distribution channels. This new distribution center will help drive growth for our private label retail and ingredients businesses, support our manufacturing footprint and strengthen our global sourcing strategy for customers.”

“Enterprise Singapore values our collaboration with partners like the New Jersey Economic Development Authority and Choose New Jersey in supporting Singapore-based companies to expand in the United States, creating economic value and jobs,” said Ms. Lim Seow Hui, Director (Americas), Enterprise Singapore. “ofi’s investment in the new East Coast Distribution Center exemplifies how such partnerships strengthen global supply chains and help deliver reliable access to food ingredients. We continue to stand ready to support ofi‘s expansion in the US, together with our key partners.”

The Sherrill Administration will continue to strengthen New Jersey’s standing on the global economic stage. The NJEDA and Choose New Jersey have helped establish strong international partnerships, including with Singapore, helping drive increased foreign direct investment (FDI) into the state. Since 2019, Singapore’s FDI in New Jersey has totaled at least $73 million, creating more than 230 jobs. In 2025, total trade between Singapore and New Jersey reached nearly $1.4 billion. Overall, since 2018, $13.6 billion of FDI has come into New Jersey, resulting in more than 27,000 new jobs.

“We are proud that ofi decided to expand its presence in the great State of New Jersey,” said Choose New Jersey interim President and Chief Executive Officer, Jen Lenhardt. “ofi’s investment in New Jersey’s food and beverage sector underscores the state’s global competitiveness, strategic location, and world-class talent. This new distribution center will strengthen South Jersey’s economy, create jobs, and showcase New Jersey as a premier destination for international businesses looking to grow and thrive.”

“ofi’s decision to establish its East Coast Distribution Center here in East Greenwich Township is a strong vote of confidence in South Jersey’s workforce, infrastructure, and strategic location,” said Senator John Burzichelli (LD-3). “With plenty of opportunity for growth on the Mickleton campus, this is the kind of long-term investment that strengthens our regional economy and reinforces New Jersey’s growing global partnerships.”

“This expansion represents smart economic development for our communities. ofi is not only bringing new jobs to our community but also investing in a footprint that will support supply chains and long-term industry growth,” said Assemblywoman Heather Simmons (LD-3). “Working alongside NJEDA and Choose New Jersey, we are continuing to attract international companies that see South Jersey as a place to grow and hire.”

“I cannot imagine the people of East Greenwich would have ever thought a company from Singapore would impact their economy and workforce in such an incredible way,” said Assemblyman David Bailey (LD-3). “This is an opportunity that took forward thinking and the ability to create relationships from outside our comfort zones. I applaud all of those involved and welcome ofi to our community.”

About the NJEDA

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

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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The program has delivered more than 250 loans, supporting nearly 3,000 small businesses across New Jersey

TRENTON, N.J. (March 23, 2026) – The New Jersey Economic Development Authority (NJEDA) today announced that seven new micro business lenders have been awarded funding under the Main Street Lenders Grant program. To date, the program has facilitated more than 250 loans totaling more than $8.8 million, supporting nearly 3,000 small businesses across the state through technical assistance and access to capital. 

The Main Street Lenders Grant program offers eligible lenders grants of up to $1.5 million each, with up to $500,000 reserved for technical assistance needs. Entities approved for the grant provide flexible and low-cost financing through working capital term loans to qualified New Jersey micro businesses, as well as technical assistance to help micro businesses access capital. These lenders also offer one-on-one advisory services, educational programming, and tailored support based on each business’s specific needs. 

“The Main Street Lenders Grant program reflects New Jersey’s ongoing commitment to small businesses and inclusive economic growth,” said NJEDA Chief Executive Officer Evan Weiss. “Access to capital continues to be a barrier for many micro businesses but this program is helping ensure entrepreneurs have the resources needed to succeed, leading to greater job growth and economic activity, particularly in disadvantaged communities.”  

The following lenders received $1.5 million in funding and are accepting microbusiness loan applications: 

• Ascendus, Inc.: offers loans between $10,000 and $100,000 with loan terms up to six years and interest rates of 5%.  
• Carver Federal Savings Bank: offers loans between $10,000 and $50,000 to businesses that have a commercial or home-based location in New Jersey.  
• Cumberland Empowerment Zone Corporation (CEZC): offers for-profit and nonprofit businesses in Cumberland County loans between $10,000 and $25,000 with no collateral required, and from $25,001 and $100,000 with collateral required.  
• Grow America: offers loans between $10,000 and $100,000, with interest rates not to exceed 5%. 
• Invest Newark: provides loan amounts between $10,000 and $100,000 to home-based, non-profit, sole proprietors, and start-ups with a commercial location in Newark. 
• Renaissance Economic Development Corporation: offers loans between $10,000 and $50,000 with 60-month terms and 5% fixed rates to businesses in Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Passaic, Somerset, Sussex, Union, and Warren Counties. 
• TruFund Financial Services, Inc.: offers loans between $10,000 and $100,00 to for-profit and nonprofit organizations located in low- to moderate-income (LMI) areas and that employ LMI workers.  

Loans provided by approved and participating lenders are available for eligible micro businesses with less than 10 full-time employees and less than $1.5 million in annual revenue. The loans carry no prepayment penalties, with interest rates capped at 5% and no payments for at least 12 months after closing. Micro businesses may use the loan funding for a wide range of business working capital expenses, including equipment purchases, rolling stock, payroll, marketing, inventory, rent or mortgage payments, property taxes, utilities, and other day-to-day operational costs. 

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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