Press Releases Archives - Page 10 of 149

Adam Sandler sequel filmed in 31 NJ municipalities

TRENTON, N.J. (August 19, 2025) – The New Jersey Motion Picture and Television Commission (NJMPTVC), which is part of the New Jersey Economic Development Authority (NJEDA), announced today that sports comedy film ‘Happy Gilmore 2’, had a total qualified spend of $152.5 million during its total of 64 days of filming in the state. The Adam Sandler sequel, which premiered last month on Netflix, nearly 30 years after the original film, utilized the NJEDA’s Film and Digital Media Tax Credit Program.

‘Happy Gilmore 2’ is one of Netflix’s latest projects that filmed in New Jersey. Other Netflix productions that have filmed in the state include ‘Nonnas’ and ‘The Irishman’ and upcoming movies ‘The Whisper Man’, ’72 Hours’, and ‘Office Romance’. Netflix has committed to expanding its presence in New Jersey and recently broke ground on its state-of-the-art, 500,000 square foot production facility at Fort Monmouth. The entertainment company’s $1 billion investment is expected to create a substantial number of permanent production jobs and construction-related positions, creating economic opportunities for local residents and boosting community revitalization.

“Under Governor Murphy’s leadership, New Jersey has become a Happy Place for filmmakers, with our above par tax credits, all-star local talent, and diverse locations,” said NJEDA Chief Executive Officer Tim Sullivan. “As productions continue selecting New Jersey, the film industry will boost our economy by helping generate good-paying jobs and support small businesses throughout the state.”

Since the state’s film tax credit program was reinstated in 2018 by Governor Murphy, ‘Happy Gilmore 2’ had the highest qualified spend of any production filmed in New Jersey. The film’s average spend per day was $2.3 million. Moreover, the production spent $1.2 million on lodging and $6.4 million on hiring extras.

“Happy Gilmore 2 showcases New Jersey’s exceptional versatility in doubling as a variety of locations,” said Jon M. Crowley, Executive Director of the New Jersey Motion Picture and Television Commission (NJMPTVC). “From golf courses and universities, to airports, beaches, and quintessential suburban neighborhoods, New Jersey has everything a production company desires. We look forward to welcoming more and more productions to the Garden State.”

‘Happy Gilmore 2’ filmed in 31 municipalities and 9 counties across the state. The exterior of the Gilmore home was filmed at a private home in Irvington and the interior was filmed at a private home in Belleville. New Jersey golf courses featured in the film included Beacon Hill Country Club in Atlantic Highlands, Fiddler’s Elbow in Bedminster, Forest Hill Field Club in Bloomfield, Closter Golf Center, Alpine County Club in Demarest, Farmview Golf Center in Hackettstown, Rockleigh Golf Course, Essex Golf Center in Roseland, and Montclair Golf Club in West Orange. New Jersey boasts over 330 golf courses in the state. According to the Virginia Turf Grass Council, New Jersey golf course revenues generated $1.4 billion of total economic activity in 2019, and was responsible for more than 11,000 jobs.

First Lady Tammy Murphy and representatives from the Governor’s Office and NJMPTVC joined Adam Sandler on set while filming at Fiddler’s Elbow.

L to R: Kathleen Coviello, NJEDA Chief Economic Transformation Officer; Janice Kovach, Mayor of Clinton and NJMPTVC Commissioner; Crowley; Sandler; First Lady Murphy; Eric Brophy, Office of the Governor, former Deputy Chief of Staff for Economic Growth; Stephanie Lagos, Office of the Governor, Deputy Chief of Staff to the Governor and Chief of Staff to the First Lady; and David Smith, NJMPTVC Vice-Chairman

Other notable filming locations include Newark Liberty International Airport, Farleigh Dickinson, Pleasantdale Chateau in West Orange, and the former Essex County Isolation Hospital in Belleville. All four sites are popular filming locations and have been featured in other major films and television shows.

Adam Sandler’s production company Happy Madison Productions chose New Jersey again to film a new project. In recent weeks, the teen musical ‘Don’t Say Good Luck’ has filmed in Cranford, Livingston, and Ridgewood.

About the New Jersey Motion Picture & Television Commission

The NJMPTVC, part of the NJEDA, is staffed by industry professionals and serves as a resource for production companies. The Commission promotes film and television production in New Jersey.

To learn more about NJMPTVC resources, visit www.film.nj.gov and follow on Facebook, X, Instagram, and LinkedIn.

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. (August 15, 2025) – The New Jersey Economic Development Authority (NJEDA) is seeking public input on draft rules for the Next NJ Manufacturing Program, which will encourage growth in New Jersey’s manufacturing sector by offering long-term benefits to manufacturing companies. Yesterday, Governor Phil Murphy signed A5687/S4407 into law, establishing the $500 million tax credit program.

WHAT: The rules will be presented to the NJEDA Board for its review and consideration for approval. If approved, the rules will be published in the New Jersey Register for formal public comment as required by the Administrative Procedure Act before adoption.

The document explaining the draft rules can be found here.

WHEN: A listening session, which will provide an overview of the draft rules, will be held on Monday, August 18, 2025, at 1:00 p.m. To register for the webinar, click here.

Feedback must be submitted through the NJEDA’s website by Friday, August 22, 2025, at 5:00 p.m.

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$500 Million Next NJ Manufacturing Program Will Provide Tax Credits to Catalyze Investment and Job Creation in Crucial Sector

KEARNY – Governor Phil Murphy today signed A5687/S4407, creating a new $500 million tax credit program that incentivizes manufacturing investment and job creation. The Next New Jersey Manufacturing Program, which will be administered by the New Jersey Economic Development Authority (NJEDA), will encourage growth in New Jersey’s manufacturing sector by offering long-term benefits to manufacturing companies.

“From the industries that powered our early growth to the advanced facilities driving innovation today, manufacturing continues to play a vital role in shaping New Jersey’s economy and its future,” said Governor Murphy. “Since taking office, my administration has advanced policies that create good-paying jobs, attract cutting-edge manufacturers, and expand opportunity in communities across the state. The Next New Jersey Manufacturing Program builds on that progress, providing the support needed to accelerate growth, enhance our competitive position, and deliver lasting economic benefits for New Jersey manufacturers.”

Under the program, eligible businesses in manufacturing industries including advanced manufacturing, non-retail food and beverage, defense, clean energy, and life sciences can receive a tax credit award equal to the lesser of 0.1 percent of the eligible business’s total capital investment multiplied by the number of new full-time jobs or 25 percent of the eligible business’s total qualified investment, subject to a total cap of $150 million per project. $100 million in tax credits in the first two years will be reserved for clean energy product manufacturers in industries such as solar, geothermal, and green hydrogen, supporting innovative companies to further the State’s clean energy goals and support clean manufacturing. After the first two years of the program, any unused proceeds will roll over into the general manufacturing allocation.

“Under Governor Phil Murphy’s leadership, the NJEDA has remained focused on strengthening the industries of the future through programs that encourage job growth, promote expansion, and strengthen communities across the state,” said NJEDA Chief Executive Officer Tim Sullivan. “The Next New Jersey Manufacturing Program will encourage manufacturers to establish and grow successful operations in New Jersey, producing impactful economic benefits for the state and its residents for generations to come.”

In line with Governor Murphy’s vision to create the most diverse and inclusive innovation ecosystem in the nation, the program will offer stackable bonuses to companies holding New Jersey Business Certifications, like Minority and Women Business Enterprises, businesses located in Opportunity Zones, or companies that have collective bargaining agreements or labor harmony agreements in place. For a complete list of available bonuses and more information on eligibility requirements and potential awards, click here.

The Next New Jersey Manufacturing Program adds to the NJEDA’s existing initiatives that bolster the state’s manufacturing industry, aiding in expansion and supporting workforce development. As of July 2025, the NJEDA has approved 431 applications across three phases of its historic New Jersey Manufacturing Voucher Program (NJMVP), providing a total of over $66.2 million in support for these companies. In return, program awardees have committed to investing over $252.7 million in upgrading their manufacturing equipment and processes, an amount nearly four times the financial support provided by the NJEDA. Additionally, the NJEDA sponsored the New Jersey Manufacturing Extension Program’s (NJMEP) Future Makers & Creators Tour, providing an opportunity for the state’s students to connect with industry leaders and learn about career opportunities.

The primary sponsors of A5687/S4407 are Senators Michael Testa and Linda Greenstein, and Assemblymembers Louis Greenwald, Antwan McClellan, and Verlina Reynolds-Jackson.

“Manufacturing has long been the backbone of New Jersey’s economy, and this historic investment reaffirms our commitment to revitalize this vital sector,” said Senator Testa. “The ‘Next New Jersey Manufacturing Program’ is designed to drive innovation, attract new investment, and create high-quality careers for our residents. Through targeted incentives, we’re giving manufacturers and entrepreneurs the tools they need to grow, compete globally, and succeed right here in the Garden State. It is a modern revival of the message proudly displayed on the Lower Trenton Bridge— ‘Trenton Makes, The World Takes.’”

“This is a landmark piece of legislation that will drive major investments in New Jersey’s manufacturing sector,” said Senator Greenstein. “With the generous tax incentives included, the ‘Next New Jersey’ program will create high-quality jobs and solidify our state’s status as a leader in clean energy manufacturing. I am proud to sponsor this bill and will continue to push New Jersey toward a more economically prosperous and sustainable future.”

“The Next New Jersey Manufacturing Program makes clear that our state is open for business and we are ready to compete for the industries and innovation that will define the future,” said Assembly Majority Leader Greenwald. “This is about building a stronger, smarter New Jersey that prioritizes good paying jobs and long-term economic growth.”

“Manufacturing is more than machines; it’s people, neighborhoods, and opportunities,” said Assemblywoman Reynolds-Jackson. “This bill is a bold investment in our workforce and our future. With the right tools, New Jersey can lead the way in bringing back high quality manufacturing jobs.”

“The Next New Jersey Manufacturing Program is a powerful example of how our state is leading the way on creating good jobs and investing in local businesses,” said Congressman Rob Menendez. “Manufacturing is a vital part of our economy and I’m grateful to Governor Murphy and our partners in state government for prioritizing this initiative. It’s crucial that we continue to collaborate across all levels of government to ensure that we are meeting the moment and moving our great state forward.”

“We are honored to host Governor Murphy at MAC Products, Inc. for the signing of A-5687. This legislation aligns with our decades-long commitment to strengthening New Jersey’s manufacturing backbone,” said Eddie Russnow, President, MAC Products, Inc. “As a family-owned business that lives by the motto ‘We Don’t Do Easy,’ we understand the importance of resilient, in-state manufacturing capacity. The Next New Jersey Manufacturing Program will propel local investment, fuel job creation, and reinforce the innovation and integrity at the heart of our operations—and the operations of manufacturers across the state.”

“This bill represents a vital investment in New Jersey’s future, supporting the full spectrum of manufacturing, including the clean energy sectors, while empowering the workforce that drives them,” said Peter Connolly, CEO, New Jersey Manufacturing Extension Program, Inc. “NJMEP is prepared to stand alongside NJEDA and every business this program attracts to offer targeted training, consulting, and workforce development. With this robust support in place, this $500 million incentive can translate into real high-quality jobs and tangible economic opportunity for the people of New Jersey.”

“This investment reflects New Jersey’s commitment to supporting growth in manufacturing,” said Tom Bracken, President & CEO, New Jersey Chamber of Commerce. “The Next New Jersey Manufacturing Program aims to encourage innovation, attract new industries, and expand career opportunities in the state. By combining targeted tax incentives with the strengths of our workforce, we’re creating a stronger environment for businesses to build and grow in the Garden State.”

“This law represents a significant and targeted investment for New Jersey’s manufacturing sector and our economy, with no new additional funding required,” said Michele Siekerka, President and CEO, New Jersey Business & Industry Association. “It will support much-needed workforce development in manufacturing amid both federal tariff and supply chain uncertainty that challenges these important businesses. And it will incentivize a wide range of manufacturing activities, including advanced manufacturing, food and beverage production, life sciences, defense, and clean energy component manufacturing. NJBIA thanks Governor Murphy for signing this important bill into law, as well as overwhelming bipartisan support within the Legislature. Let’s get to work.”

“New Jersey’s manufacturers are the backbone of our economy, and this program provides the kind of bold, targeted investment needed to keep them competitive in a rapidly changing economic landscape. By prioritizing innovation, job creation, and in-state capital investment, the Next New Jersey Manufacturing Program sends a clear message: our state is serious about building things here at home and supporting manufacturers up and down the state. We commend Governor Murphy for his leadership on this critical issue,” said Christina M. Renna, President & CEO, Chamber of Commerce Southern New Jersey.

“As the ‘Medicine Chest of the World,’ New Jersey relies on a strong manufacturing ecosystem to produce highly advanced, technologically sophisticated, and life-saving biopharma and medical device products,” said Chrissy Buteas, CEO, HealthCare Institute of New Jersey. “These products—from cell and gene manufacturing to complex metallurgic bone mesh implants to radioligand therapeutic products—are made in New Jersey because of our skilled, well-trained workforce and incentives like the Next New Jersey Manufacturing Program Act.” Buteas added, “New Jersey’s life sciences commend the bill’s sponsors and the Governor for their leadership and vision to grow New Jersey manufacturing and create jobs.”

A Special Meeting of the New Jersey Economic Development Authority is scheduled for 10:00 am, Monday, August 18, 2025. The Members will convene via conference call and Microsoft Teams only and plan to discuss and vote on the following matters:

COMMUNITY DEVELOPMENT

Activation, Revitalization, and Transformation (A.R.T.) Phase 2 Awards

ECONOMIC TRANSFORMATION

AI Innovation Challenge Administration Grant Program – Administrator Approval

INCENTIVES

Aspire Program Approval – 701 Newark Ave, Jersey City
Aspire Program Approval – Garden Court, Atlantic City

REAL ESTATE

FMERA Purchase and Sale Agreement and Redevelopment Agreement
Real Estate Gap Financing Program Awards

Members of the public may participate in the meeting by calling in on the conference line or joining via Microsoft Teams. Members of the public will have an opportunity to speak during the public comment segment of the meeting.

The following conference number is provided:

CONFERENCE NAME: NJEDA BOARD MEETING

PARTICIPANT DIAL-IN NUMBER: 1-888-790-3708

PARTICIPANT ACCESS CODE: 7825427

The Microsoft Teams link and the final Board Meeting Agenda can be found 48 hours prior to the meeting on our website: www.njeda.gov/

A Complete Unknown, a Made in NJ film, was also nominated

TRENTON, N.J. (August 11, 2025) – Today, the New Jersey Motion Picture and Television Commission (NJMPTVC), part of the New Jersey Economic Development Authority (NJEDA), announced its nomination for Outstanding Film Commission for its work with A Complete Unknown by the Locations Managers Guild International (LMGI). The LMGI Award Ceremony will take place on Saturday, August 23^rd, in Santa Monica, California.

“Under Governor Murphy’s leadership, the film industry has become a powerful driver of economic growth in New Jersey, creating good-paying jobs and supporting small businesses across the state,” said Tim Sullivan, Chief Executive Officer of the NJEDA. “Over the past several years, the New Jersey Motion Picture and Television Commission (NJMPTC) has made a name for itself by offering top-tier service to location scouts looking to film in the state. The commission’s hospitality and experience, paired with the State’s incentive program, local talent pool, and diverse locations has made New Jersey a premier destination for major, Oscar-caliber film productions—while also continuing to be a top choice for people to live, work, and raise a family.”

A Complete Unknown, which was filmed almost entirely in New Jersey, is also nominated for Outstanding Locations in a Period Feature Film. The film was also nominated for eight Oscars, including Best Picture, Best Actor, and Best Director. Last year, Oppenheimer, which was filmed partially in Princeton, took home the LMGI Award for Best Motion Picture.

A Complete Unknown was filmed in 17 municipalities across New Jersey, with notable scenes filmed in Hoboken, Jersey City, Paterson, and Cape May. In the film, New Jersey doubles as New York City, Pittsburgh, Rhode Island, Washington D.C., and Northern California. Buildings such as the Ritz Theatre in Elizabeth doubled as Carnegie Hall and the Newark Symphony Hall doubled as a San Francisco concert venue. Other notable filming locations include Paterson City Hall, White Mana Diner and William J. Brennan Courthouse in Jersey City, Columbus Park in Hoboken, Rutt’s Hut in Clifton, and the former Essex County Isolation Hospital in Belleville. All of the stage work for the film was done at Palisade Stages in Kearny.

“From big city lookalike locations that play like Manhattan or Washington, DC to quaint coastal towns, films such as A Complete Unknown showcase New Jersey’s remarkable versatility in doubling for a wide range of locations,” said Jon Crowley, Executive Director of the New Jersey Motion Picture and Television Commission. “This prestigious nomination solidifies that New Jersey values not only the important role of location scouts, but our variety of different looks has caught the attention of filmmakers and positions us to continue attracting top-tier productions for years to come.”

About the New Jersey Motion Picture & Television Commission

The NJMPTVC, part of the NJEDA, is staffed by industry professionals and serves as a resource for production companies. The Commission promotes film and television production in New Jersey.

www.film.nj.gov

About the NJEDA

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TRENTON, N.J. (August 8, 2025) – The New Jersey Economic Development Authority (NJEDA) is now accepting project applications for the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. The program enables commercial property owners to access a new form of financing to undertake energy efficiency, water conservation, renewable energy, and resiliency upgrades.

WHAT: The Garden State C-PACE Program allows commercial property owners to repay investments in eligible projects through a special assessment to a Participating Municipality, similar to the owner’s real property tax, sewer, or water bill. This unique form of financing results in lower-cost, longer-term financing, making it easier for projects to be cashflow-positive from the outset.

The Program will help drive private investment, from Qualified Capital Providers, throughout the State to help decarbonize existing and forthcoming buildings. Using the Program, property owners will be able to finance up to 100 percent of eligible improvements for Retrofit Projects and up to 35 percent of the stabilized value of New Construction Projects. Projects that were previously completed within the three-year look-back period are also eligible to apply.

As the Program Administrator, the NJEDA will review applications for eligibility and issue determination letters, as appropriate. Each application must include the Qualified Capital Provider, Qualified Technical Reviewer, and the name of the Participating Municipality.

The following entities have been approved and are now active participants in the program:

Approved Municipalities:
Hackensack, Lakewood, New Brunswick, Oldmans Township, Plainfield, and Woodbridge
Approved Capital Providers:
PACE Loan Group and Petros PACE Finance
Approved Technical Reviewers:
Asset Environments

WHO: Commercial, industrial, agricultural, certain multi-family residential, and tax-exempt and nonprofit property owners in approved municipalities are eligible to apply. For a complete list of guidelines and eligibility requirements, please click here.

WHEN: Applications are now open and will be accepted on a rolling basis. To apply, click here. The NJEDA will continue accepting applications for municipalities, capital providers, and technical reviewers on a rolling-basis.

A previously recorded webinar containing additional information can be found here. The webinar slides can be found here.

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Film Ready New Jersey Program prepares municipalities and counties across the state for film and television production

NEWARK, N.J. (August 1, 2025) – Today, the New Jersey Motion Picture and Television Commission (NJMPTVC), part of the New Jersey Economic Development Authority (NJEDA), announced that 19 municipalities and two counties have been designated as Film Ready Communities following completion of the Film Ready New Jersey Program. The Program prepares communities to accommodate movie and television producers and effectively market themselves as film destinations, bolstering the state’s standing as a national leader in film and television production.

“From the Jersey Shore to the Pine Barrens, and from vibrant cities to quiet suburban neighborhoods, New Jersey offers a remarkable variety of landscapes that meet the diverse needs of film and television productions,” said NJEDA Chief Executive Officer Tim Sullivan. “Under Governor Murphy’s leadership, New Jersey has reestablished itself as a premier destination for the industry — creating jobs, supporting small businesses, and driving meaningful economic growth in communities across the state. Through the Film Ready New Jersey Program, municipalities are better positioned to welcome and support productions of every scale, from big-budget blockbusters to independent films.”

The new Film Ready Communities announced today include Atlantic City, Bridgewater, Carteret, Clinton Town, East Brunswick, Florence Township, Gloucester Township, Guttenberg, Keyport, Leonia, Little Silver, Livingston, Maplewood, Moorestown, Mount Holly, New Providence, Ocean, Sparta, and Union Township, as well as Hunterdon and Salem Counties. Along with the state’s first cohort announced in March 2024, New Jersey now has 43 Film Ready Communities.

“The NJMPTVC has built consistency into the Film Ready program so when studios or networks bring projects to New Jersey, Film Ready localities are prepared for any opportunity that may arise,” said NJMPTVC Executive Director Jon Crowley. “As the Garden State continues to break records in film and television production, initiatives like Film Ready exemplify the state’s commitment to ensuring towns and counties across the state share in the industry’s immense economic benefits.”

The Academy Award-nominated film A Complete Unknown showcased the vast diversity of New Jersey communities. The movie filmed in 17 municipalities across the state, with notable scenes filmed in Hoboken, Jersey City, Paterson, and Cape May. In the film, New Jersey doubles as New York City, Pittsburgh, Rhode Island, Washington D.C., and Northern California. Buildings such as the Ritz Theatre in Elizabeth doubled as Carnegie Hall and the Newark Symphony Hall doubled as a San Francisco concert venue.

Film Ready New Jersey is a 5-step certification and marketing program that educates municipalities on the basics of motion picture and television production and sets basic standards for attracting filmmaking. The NJMPTVC’s Film Ready Workshops provide training and guidance from industry professionals, local mayors, and NJMPTVC Commissioners and staff, covering topics such as the economic impact of hosting on-location filming, ordinances and permitting, opportunities for small businesses, and expanding film infrastructure.

The NJMPTVC will be hosting their next workshop at the 2025 League of Municipalities in Atlantic City on Tuesday, November 18, from 10 a.m. to 1 p.m. For more information on the event, click here.

About the New Jersey Motion Picture & Television Commission

The NJMPTVC, part of the NJEDA, is staffed by industry professionals and serves as a resource for production companies. The Commission promotes film and television production in New Jersey.

www.film.nj.gov

About the NJEDA

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TRENTON, N.J. (July 31, 2025) – The New Jersey Economic Development Authority (NJEDA) recently closed on two new investments through the New Jersey Innovation Evergreen Fund (NJIEF). Nascent Materials, Inc. received an initial Qualified Investment of $750,000 through an application for co-investment submitted by the Princeton-based venture capital firm, SOSV. Additionally, Enquyst Technologies, Inc. received an initial Qualified Investment of $3 million through an application for co-investment submitted by the New York City-based venture capital firm Eckuity Capital.

“The New Jersey Innovation Evergreen Fund is a groundbreaking tool aimed at strengthening New Jersey’s economy and backing high-potential startups by creating a self-sustaining cycle of investment for entrepreneurs seeking capital,” said Tim Sullivan, Chief Executive Officer of the NJEDA. “Under Governor Murphy’s leadership, the Garden State is cementing its position as a global hub for innovation by supporting the next generation of transformative businesses.”

The NJIEF, launched in 2022, is a unique tool to increase access to strategic resources and venture capital in New Jersey. Under the NJIEF, the State acts as an equity investor in early-stage companies, deploying up to $600 million into companies alongside professional venture capital firms. The Evergreen Fund currently has approximately $19 million of unallocated capital available to fund additional investments into high-growth businesses in New Jersey.

“The NJEDA’s funding for Nascent Materials and Enquyst will accelerate each companies’ growth by providing essential resources for success. With four investments already made, the New Jersey Innovation Evergreen Fund shows no signs of slowing, demonstrating the state’s strong commitment to supporting young, innovative ventures,” said Kathleen Coviello, Chief Economic Transformation Officer of the NJEDA. “NJIEF’s continuous venture capital investments in high-growth startups play a key role in driving job creation and economic growth across the State.”

Nascent Materials develops cost-effective cathode active materials, a key input in lithium-ion batteries. Cathodes are the single most expensive component of lithium-ion batteries, representing roughly 40 percent of total battery cell cost, with current cathode production capacity largely stemming from manufactures based in China. Nascent Materials is currently working out of SOSV-sponsored HAX, a startup development program and Strategic Innovation Center for pre-seed hard tech companies located in Newark. NJEDA’s investment of $750,000 into Nascent Materials’ Seed fundraising round attracted additional international and out-of-state capital of $1,550,000 resulting in /private/ public multiplier of 2:1.

“While the U.S. has both the lithium resources and strong end-market demand for batteries, we continue to lag in one of the most strategic segments of the value chain: cathode manufacturing. This bottleneck has left domestic cell manufacturers overly reliant on foreign suppliers for their most expensive and technically complex input,” said Chaitanya Sharma, Founder and CEO of Nascent Materials. “This investment from NJEDA enables us to expand our operations in New Jersey and build the foundation for a resilient, homegrown supply chain. With its exceptional engineering talent, global port access, and critical position in national logistics networks, New Jersey is uniquely positioned to become a key hub in the emerging U.S. battery belt. We’re proud to be part of that vision and excited to grow alongside a state that’s actively investing in clean energy innovation and advanced manufacturing.”

Based in Princeton, SOSV is a global multi-stage venture capital firm that operates early-stage deep-tech programs and has over $1 billion in assets under management. Currently, SOSV manages three development programs, including HAX, and has invested in 50 Newark-based businesses through the HAX Strategic Innovation Center (SIC) program. In June, the NJEDA also announced that it will partner with venture capital firm SOSV on a second project along with Princeton Plasma Physics Laboratory (PPPL) to create a new SIC in the Princeton area.

“New Jersey has become a critical hub for industrial deep tech, and Nascent Materials is exactly the kind of company we envisioned supporting when we chose Newark as the home for HAX HQ. Their breakthrough cathode manufacturing process tackles one of the most urgent challenges in U.S. electrification—sourcing battery materials that are affordable, reliable, and not dependent on foreign supply chains, enabling us to reshore critical manufacturing,” said Duncan Turner, General Partner of SOSV and Global Managing Director of HAX. “With support from NJEDA and the infrastructure we’ve built at HAX HQ in Newark, Nascent has a clear path to scale in New Jersey, while reshaping a core part of America’s energy future.”

Founded in 2017 and headquartered in Short Hills, Enquyst Technologies is a manufacturing technology company that developed an advanced modular equipment and process platform designed to enhance biomanufacturing, specifically in the purification of complex drugs. The company’s platform focuses on the production of monoclonal antibodies (mAbs), bispecific antibodies, protein therapeutics, biosimilars, and gene therapies, all of which are high-demand market segments in biologics, with mAbs being the largest.

Currently, the production capacity for these drugs meets only 50 percent of the market’s demand, with Enquyst looking to close that gap. Enquyst was founded in Boston, Massachusetts where the technology has been developed, but is pivoting its core operations to New Jersey as a result of the proposed Program investment and to leverage the State’s strong biotech ecosystem. NJEDA’s investment into Enquyst is expected to catalyze additional private funding on a 3:1 basis.

“For decades, we have seen minimal innovation in bioprocessing, due to the highly regulated and conservative nature of the biotech and biopharma industries. Strategies fall short in meeting the cost and purification demands of today’s increasingly diverse biological medicines,” said Dr. Jason Criscione, Founder and CSO of Enquyst Technologies. “Our platform technology is disrupting biological drug manufacturing by enabling truly continuous processing, delivering best-in-class purity with no yield loss, offering flexibility across diverse biological drug classes, and lowering downstream processing costs by more than 70 percent. With investment from NJEDA and Eckuity Capital, Enquyst is expanding its NJ footprint to facilitate early adoption through strategic partnerships within the region’s biomanufacturing ecosystem.”

Eckuity Capital was established in 2021 and is based in New York City. The firm invests in companies with innovative solutions that it judges can achieve commercialization faster than traditional timelines, with a focus on life sciences, devices and diagnostics, and digital health. Enquyst Technologies represents Eckuity’s first investment in a New Jersey-based business.

“We believe Enquyst can fundamentally transform the purification process for complex molecules, but more importantly, change the way we think about manufacturing costs, time, and speed to market for the broader biologics industry,” said Vishal Jain, Managing Partner of Eckuity Capital.

Both Nascent Materials and Enquyst Technologies, like all companies approved for investment under the NJIEF, will benefit from the strategic commitments made by NJIEF tax credit purchasers. These purchases, which fund investments made by the Qualified Venture Firms (QVFs), are made in tandem with commitments to provide strategic support to strengthen the State’s innovation ecosystem. These commitments, which include networking, mentoring, and educational opportunities, are a scored component of the tax credit purchasers’ bids.

Applications for venture firms seeking to qualify as a QVF can be found here and are being accepted on a rolling basis. The firms approved to date represent diversity in terms of investment strategy, industry, and stage. Additionally, there continues to be strong momentum from interested managers. The roster of the 19 currently approved managers can be found here.

Applications for approved QVFs to apply for Qualified Investments into high-growth, innovative businesses based in New Jersey are also now open. The total capital available for new investments stands at approximately $19 million.

About the NJEDA

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NJ ZIP & NJ ZEV programs will expand number of zero emission vehicles on NJ roadways

TRENTON, N.J. (July 31, 2025) – Vendor applications are now open for the New Jersey Economic Development Authority’s (NJEDA) two programs that are aimed at putting more zero emissions vehicles on roads across the state. Together, Phase III of the New Jersey Zero Emission Incentive Program (NJ ZIP) and the New Jersey Zero Emission Vehicle Financing Program (NJ ZEV), aim to accelerate the adoption and use of commercial zero emission medium- and heavy-duty vehicles within the state, while reducing harmful emissions.

WHAT: NJ ZIP Phase III will provide vouchers to businesses and institutional organizations to offset the cost of purchasing new, zero emission medium- and heavy-duty vehicles. The size of vouchers awarded through Phase III, which is funded at $75 million, will vary depending on the class of vehicle being purchased, from a minimum of $15,000 for Class 2b vehicles to $175,000 for Class 8 vehicles. Bonuses will be available for school busses, small businesses; women-, minority-, and veteran-owned businesses. Additionally, 50 percent of funds will be set aside for applications from small businesses in Overburdened Communities (OBCs).

NJ ZEV, which is funded at $25 million, is a loan program to support businesses adopting medium- and heavy-duty zero emission vehicles. The program complements NJ ZIP by offering financing for vehicle costs that may not be met by NJ ZIP vouchers or other available grant funding resources. Loans will also be available through the program for business not utilizing the NJ ZIP program. NJ ZEV will offer low-interest rate loans ranging from $50,000 to $500,000 for the purchase of one or more eligible vehicles.

WHO: Licensed vehicle dealers offering new zero emission medium- or heavy-duty vehicles. Detailed guidelines and eligibility criteria are available here.

WHEN: Vendor applications will be accepted on a rolling basis. However, vendors interested in being listed on the programs’ website prior to purchaser application launch should submit applications by Tuesday, September 2, 2025 at 5:00 p.m.

For more information about Phase III of NJ ZIP, click here.

For more information about NJ ZEV, click here.

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Funding will assist the hub in entrepreneurship, workforce development, and community engagement initiatives

JERSEY CITY, N.J. (July 31, 2025) – The New Jersey Economic Development Authority (NJEDA) announced yesterday it has provided financial support for the development and operation of the Statewide Hispanic Chamber of Commerce of New Jersey’s (SHCCNJ) Innovation Business Hub. The Hub, located at New Jersey City University (NJCU), offers a physical location for local business owners and leaders to gather and attend workshops, seminars, and networking events aimed to strengthen connectivity, provide educational resources and tools, foster innovation, and spur economic growth.

“This partnership is an extension of our administration’s commitment to expanding our innovation economy and creating an ecosystem where all businesses can thrive,” said Governor Phil Murphy. “The SHCCNJ Innovation Business Hub will provide resources to emerging businesses across our state, strengthening New Jersey’s long-term economic competitiveness.”

“Under Governor Phil Murphy’s leadership, New Jersey continues to invest in initiatives and resources that support the state’s entrepreneurs, encourage startup creation, and strengthen the state’s small business ecosystem,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJEDA is proud to collaborate with the SHCCNJ and NJCU on its Innovation Business Hub, which will create networking opportunities and expand access to resources for the next generation of business owners.”

“Latino-owned businesses contribute more than $100 billion to New Jersey’s economy—a number that speaks volumes not just here at home, but across the river in the broader regional market,” said SHCCNJ President Carlos Medina. “This Innovation Hub is about impact. It’s about turning that economic power into lasting opportunity. At the Chamber, our culture of advocacy grows stronger every day as la familia levels up small business for big impact.”

With the NJEDA’s $75,000 in funding, the SHCCNJ was able to convert a classroom at NJCU to serve as office space for the Innovation Business Hub. The Hub will offer comprehensive technical education programs, providing small businesses with access to an educational platform where they can take courses, review materials, and access key resources. SHCCNJ will also provide personalized mentoring and coaching for business owners, facilitating one-on-one sessions with industry experts. The Innovation Business Hub will offer space to host foreign guests, diaspora businesses, and entrepreneurial exchanges, making the Hub a center for knowledge-sharing and innovation.

Through the Innovation Business Hub, the SHCCNJ will connect business owners with the NJEDA’s Small Business Bonding Readiness Assistance Program, which provides a comprehensive series of classes, workshops, and strategic counseling sessions covering a variety of topics relevant to small businesses in all sectors, including bonding and insurance, business development, financial presentation, construction and contract law, construction management, estimating, and credit. At the end of the program, all participating businesses receive a Bonding Readiness Segment Report, which provides an in-depth assessment of their strengths and weaknesses to help them plan for the future.

“This investment from NJEDA represents more than just funding—it’s a commitment to our community’s future,” said SHCCNJ Chairman Luis O. De La Hoz. “The SHCCNJ Innovation Business Hub will serve as a launchpad for entrepreneurs to scale their businesses, access critical resources, and foster meaningful connections. We’re proud to partner with NJEDA and NJCU to turn vision into opportunity and drive sustainable economic impact across New Jersey.”

The funding was announced yesterday at a press conference held at the NJCU School of Business in Jersey City.

In October 2024, the SHCCNJ and NJCU signed a memorandum of understanding to facilitate the expansion of SHCCNJ’s Hispanic Business Hub to NJCU’s campus, as well as create new educational and professional opportunities for NJCU students. The agreement was structured around several key objectives, including enhancing collaboration on workforce development and entrepreneurship initiatives.

“What makes this partnership so meaningful is our shared belief that in New Jersey, you don’t have to uproot yourself to tap into your potential—you can prosper in place. We’re anchored right here in Hudson County, where nearly half of our population is foreign-born and where the promise of America speaks in an accent. This initiative allows us to institutionalize the organic connections that have existed for years, providing our students with direct internship and externship opportunities,” said NJCU President Andres Acebo. “While it’s great to work for an established company, imagine being able to say on your resume that you helped launch a startup while you were climbing toward your own success. That kind of hands-on experience, combined with the grit and resolve that defines our students and our community, creates something truly powerful — students who are not just learning, but actively contributing to the economic vitality of their own neighborhoods.”

The SHCCNJ was established in 1989 to foster, mentor, and train Hispanic-owned businesses in New Jersey and now represents over 120,000 businesses, contributing over $100 billion to the state’s economy. The Chamber is committed to creating new business opportunities, educating and training entrepreneurs and business owners, fostering advantageous relationships with the public and private sectors, advocating actively and visibly in the political process, and promoting trade between the business communities at the state, national, and international levels.

About the NJEDA

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