Press Releases Archives - Page 23 of 152

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

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

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

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

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

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

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

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

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

About the NJEDA

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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11 early-stage startups will receive grant funding

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

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

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

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

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

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

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

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

A full list of awardees can be found below:

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

About CSIT
In August 2018, Governor Murphy signed legislation re-establishing the former New Jersey Commission on Science and Technology as the CSIT. Comprised of representatives from the public and private sectors, as well as academia, the Commission is tasked with leading the way in promoting the state as a home for academic and technological research, development, and commercialization.

About the NJEDA

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

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

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

IN PERSON:

New Jersey Economic Development Authority

NJEDA Board Room

36 West State Street, Trenton, NJ 08625

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

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

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

The document can be found here.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Aspire is a place-based economic development program created under the New Jersey Economic Recovery Act of 2020 (ERA) to support mixed-use, transit-oriented development with tax credits to commercial and residential real estate development projects that have financing gaps. As a performance-based program, projects must certify that all commitments established at time of approval have been met before receiving their first disbursement of tax credits. Netflix Studios is the third transformative project approved under the new Aspire rules, which the NJEDA adopted in November 2023.

In line with Governor Murphy’s and the NJEDA’s commitment to fiscal responsibility and transparency, the Aspire program rules include provisions, such as a gap financing review and excess revenue sharing requirements, to ensure tax credits are awarded responsibly. The Aspire program application, as well as complete rules, eligibility requirements, award sizes, and other information, can be found here.

About the NJEDA

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Expanded website showcases massive volume of research being conducted statewide

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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TRENTON, N.J. (December 12, 2024) – The New Jersey Economic Development Authority (NJEDA) has published municipality opt-in documents to participate in the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. The program will allow commercial property owners in Participating Municipalities to access a new form of financing to undertake energy efficiency, water conservation, renewable energy, and resiliency improvements.

WHAT: The Garden State C-PACE Program allows property owners to repay investments from Qualified Capital Providers into eligible projects through a special assessment to a Participating Municipality, similar to the owner’s real property tax, sewer, or water bill. The Participating Municipality then remits the payment to the initial capital provider. This unique form of financing can result in lower-cost, longer-term financing, making it easier for projects to be cashflow-positive from the outset. Municipalities are required to opt-in prior to any project application.

WHO: Municipalities interested in participating in the Garden State C-PACE program.

WHEN: Municipalities are required to first adopt the Opt-In Ordinance prior to submitting an application for participation in the Program to the Authority. Applications will open shortly and will be accepted on a rolling basis. For more information and to view the documents, click here. Interested parties may send questions to gardenstatecpace@njeda.gov.

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The New Jersey Economic Development Authority’s next public Board Meeting will be held in person and via teleconference on Thursday, December 19, 2024, at 10:00 am.

IN PERSON:

NJEDA Board Room

36 West State Street, Trenton NJ

TELECONFERENCE:

CONFERENCE NAME: NJEDA BOARD MEETING

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

PARTICIPANT ACCESS CODE: 7825427

Members of the public are encouraged to call in prior to the time the meeting is scheduled to begin to avoid any delays.

The agenda can be found 48 hours prior to the meeting on our website: https://www.njeda.gov. The meeting will also be recorded and posted to the NJEDA website shortly after the conclusion of the meeting.

Please be advised that the next Capital City Redevelopment Corporation Board Meeting will be held in person and via teleconference on Tuesday, December 17, 2024, at 10:00 am.

IN PERSON:

NJEDA Board Room

36 West State Street, Trenton, NJ 08625

TELECONFERENCE:

CONFERENCE NAME: CCRC BOARD MEETING

PARTICIPANT DIAL-IN NUMBER: 551-220-2262

PARTICIPANT ACCESS CODE: 980 839 435#

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

Open public comment period closing today

TRENTON, N.J. (December 9, 2024) – The New Jersey Motion Picture and Television Commission (NJMPTVC), under the New Jersey Economic Development Authority (NJEDA), is seeking public input on amendments to the Commission’s Film Ready New Jersey Program requirements.

The document can be found here.

WHEN: Feedback must be submitted in writing no later than 5:00 p.m. today, Monday, December 9, 2024. Written feedback can be submitted to filmreadynj@njeda.gov.

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