TRENTON, N.J. (May 5, 2025) – The New Jersey Economic Development Authority (NJEDA) today opened applications for the Employee Stock Ownership Plan (ESOP) Assistance Program. The program, which was approved by the NJEDA Board in April, aims to increase employee ownership models in the state, which can provide employees with opportunities to have a greater stake in a business, generate sustainable and equitable wealth, and ensure greater financial security, while supporting business owners in transition planning.

WHAT:            The ESOP Assistance Program will connect applicants with an approved contractor to perform feasibility study services and provide technical assistance in the creation of an ESOP, an employee ownership model in which employees retain interest in shares of a company through holding corporate stock in a trust. ESOPs are successful nationwide and around the state, creating and sustaining wealth for employee owners. New Jersey is home to close to 90 ESOPs, nearly $65 billion in plan assets covering over 423,000 current employees and retirees, with an average stock account for eligible current employees of close to $190,000. 

In February, Onyx Partners Group and Lazear Capital Partners were approved by the NJEDA Board as contractors for the ESOP Assistance Program. Both firms are experienced in ESOP transitions, including the design and development of feasibility studies and valuations.

WHO:               Eligible businesses must be located in New Jersey, have at least 20 full-time employees, and be in good standing with the New Jersey Department of Labor and Workforce Development and the New Jersey Department of Environmental Protection. For more information on eligibility, click here.

WHEN:            Applications for the ESOP Assistance Program are open and will be accepted on a rolling basis. For any questions regarding the program, please contact ESOPAssistanceSupport@njeda.gov.

An informational webinar on the ESOP Assistance Program will be held Wednesday, May 28, at 1:00 P.M. in collaboration with the Rutgers School of Management and Labor Relations. To register, click 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 Board Meeting for the New Jersey Green Bank scheduled for May 8, 2025, is hereby cancelled.

The next regularly scheduled meeting is Thursday, June 5, 2025, virtually, and in person at the NJEDA’s Trenton offices.  

A virtual information session will also be held during the first week of May

TRENTON, N.J. (April 29, 2025) – In celebration of National Small Business Week, the New Jersey Economic Development Authority (NJEDA) will host an in-person “Show Me the Resources” fair to highlight key state resources available for small business owners and entrepreneurs. A virtual webinar option is also available for interested parties unable to attend in-person.

WHAT:            NJEDA representatives will be available at the in-person “Show Me the Resources” fair to provide information about the Authority’s programs and products aimed to support small businesses, as well as businesses in the clean energy, arts and culture, and film sectors. The in-person event is hosted in conjunction with the New Jersey Business Action Center, the New Jersey Department of Treasury, the New Jersey Small Business Development Centers, and the Small Business Administration.

WHO:              Small business owners, entrepreneurs, economic development professionals, local government representatives, non-profit organizations, and community partners are welcome to attend the in-person and virtual events. Both events are free to attend.

WHEN:           In-person Session:
Tuesday, May 6, 2025 – 9:00 a.m. – 12:00 p.m.
The College of New Jersey
Brower Student Center
2000 Pennington Rd.
Ewing, N.J.
*Parking available in lots 5, 6, and 7.
Click here to register.

Virtual Session:
Thursday, May 8, 2025 – 5:00 p.m. – 6:00 p.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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NJ Green Workforce Training Grants support Governor Murphy’s clean energy and climate goals

TRENTON, N.J. (April 28, 2025) – In celebration of Earth Month, the New Jersey Economic Development Authority (NJEDA) announced it recently approved four applications under the NJ Green Workforce Training Grant Challenge, totaling over $4.3 million in funding. The awardees will develop training programs to prepare New Jersey residents for green economy careers, with a particular focus on serving overburdened communities.

“These four approvals through the Green Workforce Training Grant Challenge will provide long-lasting solutions that will protect our environment while creating opportunities for New Jersey’s most vulnerable workforce,” said Governor Phil Murphy. “This grant challenge is a unique chance for entities across New Jersey to train residents for jobs in clean energy and other vital green sectors, which will help support a stronger and more diverse economy.”

The Grant Challenge was a competitive funding opportunity and applicants had to submit proposals outlining their plans to develop and implement workforce supports to bolster the green economy, with a focus on New Jersey’s overburdened communities. Grants from $250,000 up to $1.5 million were available. Awardees may use funds to cover design, planning, capital, and implementation costs to offer training programs in green economy industries.

“Guided by the recommendations of the New Jersey Green Economy Task Force, New Jersey is preparing its residents for a cleaner, more environmentally friendly and resilient economy,” said First Lady Tammy Murphy. “The organizations that received funding through the Green Workforce Training Grant Challenge are addressing climate change head on by both building out our talent pipeline and also providing necessary support to ensure equitable access to trainings and certifications.”

“The Murphy Administration remains dedicated to building a clean energy future, and through initiatives like the Green Workforce Training Grant, the NJEDA is leading efforts to expand access to essential workforce training and development opportunities in emerging green sectors,” said NJEDA Chief Executive Officer Tim Sullivan. “The Grant Challenge highlights the State’s continued commitment to ensuring New Jersey residents are at the forefront of the green economy and that those in overburdened communities are prepared to take on the good-paying jobs of the future.”

“These awards will continue to empower our residents to get trained in cutting edge jobs that support the clean economy,” said Eric Miller, Executive Director of Council on the Green Economy. “The clean energy sector is one of the fastest growing sectors of our economy, and preparing our citizens to benefit from that growth is exactly what these awards accomplish.”

The following four applicants will receive grant funding through the NJ Green Workforce Training Grant Challenge:

  1. Elizabeth Development Company of New Jersey ($500,000): The Elizabeth Development Company of New Jersey, in collaboration with Dimension Energy, will provide hands-on solar energy training with graduates earning North American Board of Certified Energy Practitioners (NABCEP) Photovoltaic Associate certification and OSHA 30-hour certification. The course will take place in Elizabeth and Jersey City. Supportive services for participants will include stipends, job readiness training, and support with accessing public benefits.
  2. Ideal Education, A NJ Nonprofit Corporation ($1,500,000): Ideal Education will be training individuals to become certified NJ Clean Energy Program Installers and Weatherization and Energy Auditors in collaboration with Coalition for a Safe Community and Community Strategies and Solutions. The training will take place in-person in Pleasantville and will also utilize a mobile hands-on training unit and a virtual platform. Supportive services for participants will include transportation assistance, childcare services, counseling and mentorship, and job placement support.
  3. New Jersey Environmental Justice Alliance, Inc. (NJEJA) ($1,373,000): NJEJA will provide training in collaboration with Soulful Synergy and Green Tech Leaders on building systems, thermal systems, weatherization, and heating, ventilation, and air conditioning (HVAC), leading to multiple industry-recognized certifications. The training will be hybrid with the in-person portion taking place in Newark. Supportive services for participants will include stipends, mentorship, transportation, childcare, and other health services support.
  4. Hugo Neu Realty Management, LLC ($976,987): Hugo Neu will conduct training modules for graduates to obtain the Green Stormwater Infrastructure (GSI) Certification and the Electric Vehicle Infrastructure Training Program (EVITP) Certification, with the EV program recruiting those who have already received their Electrical Assistant training. The training will be hybrid with the in-person portion taking place in Kearny. Hugo Neu Realty Management will collaborate with the New Jersey Reentry Corporation, and will offer supportive services such as stipends, assistance accessing public benefits programs, health support, housing assistance, job placement support, and access to legal services for record expungement.

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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Apprenticeship Training Centers Construction Grant Program will support the development of USDOL Apprenticeship facilities in Overburdened Communities

TRENTON, N.J. (April 24, 2025) – The New Jersey Economic Development Authority (NJEDA) Board approved the creation of a $9.7 million grant program to support the construction of workforce training facilities in New Jersey’s Overburdened Communities. The Apprenticeship Training Centers Construction Grant Program aims to support the establishment of facilities that will help enable access to low- or no-cost training and eliminate transportation barriers, preparing local residents for high-paying jobs and creating positive economic benefits for communities.

“Under Governor Phil Murphy’s leadership, New Jersey has continued to invest in innovative apprenticeship and workforce development programs, with a particular focus on expanding equity and diversity in a range of career paths,” said NJEDA Chief Executive Officer Tim Sullivan. “This new initiative builds on the NJEDA’s existing efforts to expand workforce development programs across the state, preparing New Jersey residents for good-paying, family-sustaining careers and strengthening efforts to promote equitable economic opportunity.”

The new program will award grants between $500,000 and $6.5 million to sponsors of a Registered Apprenticeship Program as defined by the United States Department of Labor’s Office of Apprenticeship. Applicants will be required to be in and conduct training for the building and construction trades in the funded facility. Grants will cover up to 70 percent of all eligible project costs, and up to 80 percent of eligible project costs in a Government Restricted Municipality. More information on the application process will be available soon on the NJEDA’s website.

An eligible project location must be within an Overburdened Community as defined by the New Jersey Department of Environmental Protection (NJDEP). The NJDEP maintains a list and visualizations of Overburdened Communities throughout the state at https://dep.nj.gov/ej/communities/.

Funding for the Apprenticeship Training Centers Construction Grant Program will be utilized from the New Jersey Department of Labor and Workforce Development’s (NJDOL) Workforce Development Partnership Fund. In February 2024, the NJEDA Board approved an MOU with the NJDOL that permits disbursement from the fund for the NJEDA to create and sustain workforce development programs and projects. Since 2018, New Jersey has invested nearly $100 million in grant funding to support registered apprenticeship programs and has experienced a 138 percent increase in earn-while-you-learn opportunities.

“This grant program amplifies the Murphy Administration’s record-setting commitment to apprenticeship, and we are taking decisive steps to ensure every resident has the opportunity to succeed in high-demand trades, fueling both personal advancement and regional progress,” said Labor Commissioner Robert Asaro-Angelo. “This initiative exemplifies New Jersey’s dedication to building an economy where everyone has the chance to thrive, demonstrating that when we empower workers, we uplift entire communities.” 

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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$2.7M ESOP Assistance Program aims to reduce economic disparities and create generational wealth

TRENTON, N.J. (April 22, 2025) – The New Jersey Economic Development Authority (NJEDA) Board approved the creation of the Employee Stock Ownership Plan (ESOP) Assistance Program, which will connect applicants with an approved contractor to perform feasibility studies and provide technical assistance. The program aims to increase employee ownership models in the state, which can provide employees with opportunities to have a greater stake in a business, generate sustainable and equitable wealth, and ensure greater financial security.

“Under Governor Murphy’s leadership, New Jersey has expanded opportunities for equitable economic growth by providing the resources needed for diverse businesses and entrepreneurs to thrive,” said NJEDA Chief Executive Officer Tim Sullivan. “By expanding ESOPs, the NJEDA aims to create life-changing economic opportunities for workers and their families while supporting sustainable business transition plans, strengthening communities and businesses across the state.”

In 2021, Governor Phil Murphy issued Executive Order No. 262, which established the Wealth Disparity Task Force to examine the causes of, and creates remedies for, the longstanding wealth disparities that affect Black and Hispanic New Jerseyans. ESOPs, an employee ownership model in which employees retain interest in shares of a company through holding corporate stock in a trust, can create generational wealth for workers and provide unique succession plans for business owners.

ESOPs are successful nationwide and around the state, creating and sustaining wealth for employee owners. New Jersey is home to close to 90 ESOPs, nearly $65 billion in plan assets covering over 423,000 current employees and retirees, with an average stock account for eligible current employees of close to $190,000. The ESOP Assistance Program will alleviate risks for the business owner as they explore an employee ownership model. 

“Through the promotion of employee ownership models, the NJEDA aims to close racial wealth gaps, preserve diverse businesses, and increase household incomes for working class families,” said NJEDA Chief Diversity and Inclusion Officer Michelle Bodden. “Reducing economic disparities in New Jersey will contribute to a stronger and fairer economy for every resident and business owner, strengthening the state’s economic competitiveness.”

“We applaud the Murphy Administration and the New Jersey Economic Development Authority’s efforts to provide employees with access to resources that can place them on a pathway to understanding the principles to creating and obtaining wealth,” said African American Chamber of Commerce of New Jersey Founder, President, & Chief Executive Officer John E. Harmon, Sr. “The ability to connect the hard working citizens of NJ, to this level of professional assistance can be transformational. The wealth disparities in our state are significant, and the best way to mitigate them is to first acknowledge the disparity, and then apply proven strategies with intentionality to attain meaningful outcomes. The ESOP Assistance Program can be the catalyst to achieving these goals.”

“The NJEDA’s support for companies exploring employee ownership through ESOPs is a major win for our members and their employees,” said Statewide Hispanic Chamber of Commerce President and Chief Executive Officer Carlos Medina. “It creates a pathway for building generational wealth, deepening employee engagement, and strengthening small business stability. This initiative is a meaningful step toward a more inclusive and equitable economy across New Jersey.”

In July 2024, the NJEDA entered into an agreement with the Rutgers School of Management and Labor Relations to create educational and informational programming to increase the quantity of New Jersey businesses utilizing an ESOP. In March, the NJEDA and Rutgers held an ESOPs panel with business owners employing employee ownership models, which included discussions on the various benefits of ESOPs, methods of creating and implementing ESOPs, and the cultural and financial impacts of ESOPs on the workforce.

Rutgers is proud of the opportunity to partner with NJEDA as it develops this assistance program,” said Rutgers Institute for the Study of Employee Ownership and Profit Sharing Associate Director and Rutgers Center of Employee Ownership Executive Director William Castellano. “Together we are continuing our work to promote the many benefits of employee ownership throughout the State; from the business owner who is looking for a sustainable succession plan option, to the worker who stands to gain an added benefit through these opportunities, and to the communities these businesses serve.”

An informational webinar on the ESOP Assistance Program will be held on Wednesday, May 28, at 1:00 P.M. To register, click here.

In February, Onyx Partners Group and Lazear Capital Partners were approved by the NJEDA Board as contractors for the ESOP Assistance Program. Both firms are experienced in ESOP transitions, including the design and development of feasibility studies and valuations. Applications for the ESOP Assistance Program are expected to open in early May.

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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NJ LEND pilot program expands upon NJEDA’s existing small business programs

TRENTON, N.J. (April 21, 2025) – The New Jersey Economic Development Authority (NJEDA) Board approved a new loan program designed to support the evolving needs of New Jersey businesses. The $30 million pilot program, known as the New Jersey Loan Expansion and Network Development (NJ LEND) program, will offer loans up to $5 million, more than double the amount offered through the Authority’s already existing loan products.

“New Jersey’s small businesses are the lifeblood of our economy, and they support our workforce and local communities,” said Governor Phil Murphy. “The NJ LEND program offers an enhanced loan to help businesses grow and thrive. By creating access to capital, we are empowering entrepreneurs to build stronger, more resilient businesses across New Jersey.”

“Under Governor Murphy’s leadership, the NJEDA has prioritized small business support, giving them the tools they need to survive and thrive in an ever-changing business environment,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJ LEND program leverages the success of the NJEDA’s Premier Lender and Direct Loan programs by offering expanded and flexible financial resources. Injecting much-needed capital into small businesses across the state will help drive economic growth, job creation, and increased business stability.”

NJ LEND is modeled after the NJEDA’s Premier Lender and Direct Loan programs, but offers higher lending limits for financing to small businesses with no more than 750 employees. The new program will offer fixed asset loans of up to $5 million for the purchase or refinance of owner occupied commercial real estate or new equipment. The program will also offer working capital loans of up to $1 million. Additionally, NJ LEND will offer flexible lending options in the form of  loan participations and line of credit guarantees in partnership with NJEDA Premier Lender financial institutions.

“In today’s uncertain economy, programs Like NJ Lend are a lifeline for small businesses—empowering businesses to grow, innovate, and create jobs when it’s needed most,” said Christina Renna, President & Chief Executive Officer of the Chamber of Commerce Southern Jersey. “We appreciate the Governor’s leadership in launching this program at such an uncertain time for businesses across the state.”

Through NJ LEND and the Authority’s current loan programs, the NJEDA is helping reduce barriers for businesses seeking capital for growth, job creation, and long-term stability. Additionally, through the Main Street Recovery Finance Program, the NJEDA is bolstering the small business community by ensuring business owners have the resources needed to expand, grow, and thrive. Since 2021, nearly $170 million has been distributed through Main Street’s suite of programs, bringing the NJEDA’s total small business support to nearly $1 billion.

In line with NJEDA’s existing traditional lending programs, the primary goal of NJ LEND is to drive economic activity through job creation. All businesses receiving funding through NJ LEND will be required to create and/or retain one full-time job for every $65,000 in NJEDA loan exposure, fostering individual business growth and strengthening workforce development throughout the state.

Eligible applicants under the NJ LEND program may be for-profit or non-profit businesses in New Jersey with no more than 750 New Jersey employees. For more information and to apply, email businessbanking@njeda.gov.

About the NJEDA

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

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

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Investor meetings, entrepreneur ecosystem resource fair, and pitch competition showcase New Jersey’s leadership in innovation

TRENTON, N.J. (April 16, 2025) – Last month, the New Jersey Economic Development Authority (NJEDA) held a New Jersey Founders and Funders’ All-Stars Alumni Pitch Competition and Resource Fair, bringing startups, investors, and other innovation economy stakeholders together for a day of pitches, an ecosystem resource fair, and many informal networking opportunities. The semi- annual Founders and Funders event connects early-stage businesses with investors to discuss strategy, business models, and funding opportunities, strengthening the state’s vibrant innovation ecosystem. The second alumni pitch competition featured qualified companies that previously presented at Founders & Funders events, competing for the opportunity to apply for a $100,000 grant award.

“Under Governor Murphy’s leadership, New Jersey has cemented its role as a national leader in the innovation economy, providing entrepreneurs and startups with the capital and support they need to grow and thrive in the Garden State,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJEDA’s Founders and Funders initiative continues to spark vital connections between investors and entrepreneurs, and this year’s All-Stars event showcased the incredible depth of talent driving our state’s thriving startup ecosystem. Through ecosystem development initiatives like Founders and Funders, we are building on New Jersey’s rich legacy of innovation to power the technologies and companies of tomorrow.”

Since 2014, the NJEDA has organized 16 Founders and Funders events to facilitate warm introductions between innovative emerging New Jersey companies and sophisticated angel investors and venture capital firms. Since its inception, more than 400 companies and 250 investors have participated in Founders and Funders events. At last week’s event, 10 “All-Star companies” had the opportunity to pitch and meet with 11 venture capital firms. Over 20 investors were present throughout the day, and more than 50 entrepreneurs engaged in meaningful discussions with resource fair ecosystem participants.

“Since our inaugural event in 2014, the NJEDA’s Founders and Funders initiative has matched hundreds of startup companies with investors, bolstering economic opportunity and access to capital for entrepreneurs and promoting growth in the state’s innovation ecosystem,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “This year’s all-stars event exemplifies the breadth of talent in New Jersey’s startup community and the transformative impact of investment in innovation.”

This year’s All-Stars event included an ecosystem resource fair as well as a presentation on the NJEDA’s Strategic Innovation Center initiative, showcasing the range of programs available to bolster the creation of startups in the state.

The prize winner of the alumni pitch competition, which was selected by audience vote, was Cranford-based Boxcar, an innovative, integrated commuting company focused on simplifying long and stressful commutes through luxury busing and other services. Founded in 2016, Boxcar previously received funding from the NJEDA through the Angel Match Program and obtained further investment from Newark Venture Partners with NJEDA support.

“This was another terrific NJEDA event,” said Boxcar Founder and Chief Executive Officer Joe Colangelo. “Boxcar was able to meet new investors as well as reconnect with investors that we initially pitched at a 2018 Founders and Funders event – 7 years ago! Similarly, we were able to catch up in person with all the dedicated people at the NJEDA who have helped us over the last 8 years. They have become real partners when it comes to building and scaling in New Jersey, and I would encourage every entrepreneur in this state to reach out to the NJEDA regardless of their size. The NJEDA has programs for every stage company and their employees are so dedicated to finding a way to help.”

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. (April 15, 2025) – The New Jersey Economic Development Authority (NJEDA) will open applications for the Route 80 Business Assistance Grant Program on Tuesday, April 22, at 10:00 a.m. The grant program will support small businesses in Morris County that have experienced a decline in revenue due to the lane closures on Route 80 caused by the ongoing sinkhole repairs.

WHAT:            The Route 80 Business Assistance Grant Program will provide grants ranging from $1,000 to $15,000 to businesses and non-profits located in close proximity to Route 80’s Exit 34, the epicenter of the sinkholes causing traffic disruptions.

WHO:              Eligible applicants include small businesses and non-profits that have up to 50 full-time employees. Businesses must be located in Morris County and within a five-mile radius of Route 80’s Exit 34. Applicants must also certify a negative financial impact of at least $1,000 for the first quarter of 2025.

WHEN:           Applications for the program will open Tuesday, April 22, 2025, at 10:00 a.m. and will be accepted on a first-come, first-served basis until funds are exhausted. For more information about the program and to apply, click here.

                        The NJEDA is hosting several information sessions for small business owners interested in learning more about the program, its eligibility requirements, and application process. The next information session is a webinar and will be held tomorrow, Wednesday, April 16, 2025 at 6:00 p.m. Click here to join.

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 11, 2025) – The New Jersey Economic Development Authority (NJEDA) is seeking public input on proposed amendment to the Garden State Film and Digital Media Tax Credit Program Rules. The goal of the program is to incentivize production companies to film and create digital media content in New Jersey.  The proposal includes readoption of the February 2024 specially adopted rules with substantial changes, which further clarify the rules and reflecting changes made by P.L. 2024, c. 33, signed into law in July 2024.

WHAT:            The document posted on the NJEDA webpage is a draft, which will be presented to the NJEDA Board, with any final edits, for its review and consideration for approval. If approved, the amendments will be published in the New Jersey Register for formal public comment as required by the Administrative Procedure Act before adoption.

The document can be found here.

WHEN:           Feedback must be submitted through the NJEDA’s website by 5:00 p.m., EST, Tuesday, April 15, 2025.

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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