Since 2020, over $21M awarded to nearly 370 businesses across both grant programs

TRENTON, N.J. (October 15, 2024) – The New Jersey Commission on Science, Innovation, and Technology (CSIT) has awarded a combined $3 million in grants to 41 New Jersey startups through its Round 3 Catalyst Seed Research and Development (R&D) Grant and Clean Tech Seed Grant programs. The awards will help young companies accelerate the development of their technologies and transform discoveries from the research stage into commercially viable products and services.

“Supporting New Jersey startups through grant initiatives like the Catalyst Seed R&D Grant and the Clean Tech Seed Grant will help create a robust economy for the future and advances Governor Murphy’s vision for the state,” said CSIT Executive Director Judith Sheft. “Nurturing companies in their early stages allows them to establish a foundation in New Jersey, setting the stage for long-term financial growth, sustainability, and economic mobility.”

Companies awarded grant funding are developing innovations in medical devices, Artificial Intelligence (AI), software development, film and digital media, and non-retail food and beverage. Since 2020, CSIT has awarded 368 companies grants totaling over $21 million.

“Under Governor Phil Murphy’s leadership, New Jersey has dedicated significant resources to help young, innovative companies get their products to the marketplace, allowing the state to emerge as a premier destination for startups,” said New Jersey Economic Development Authority (NJEDA) Chief Executive Officer Tim Sullivan. “These CSIT grant programs enable entrepreneurs to obtain funding for essential research and technologies that enhance our society, generate high-paying jobs, and strengthen New Jersey’s standing as a leader in equitable, diverse, and transformative innovation.”

CSIT’s Round 3 Catalyst Seed R&D Grant Program has awarded 26 early-stage startup companies a total of $1.95 million in funding through grants of up to $75,000 for companies developing innovations in various fields, including manufacturing, transportation and logistics, film and digital media, life sciences, non-retail food and beverage, finance and professional services, and technology sectors. These sectors have all been identified as targeted industries in Governor Murphy’s economic development plan. Of those receiving awards from CSIT, 70 percent of awardees have six or fewer employees, 22 percent are certified as minority-owned businesses, and 19 percent of the awardees are located in an Opportunity Zone.

“New Jersey’s startups are amongst the best in the nation and place the State at the forefront of innovation and conservation,” said CSIT Chair and BioNJ Founding President and CEO Debbie Hart. “The Catalyst Seed R&D Grant and Clean Tech Seed Grant Programs reinforce the State’s commitment to its small businesses and nurture advancements in a range of innovation areas, including life sciences, technology, and clean tech sectors. We have seen early-stage companies leverage CSIT funding 15.5X in follow on funding thereby advancing and accelerating their development trajectory.”

A total of $1.1 million in funding has been awarded to 15 companies chosen in Round 3 of the Clean Tech Seed Grant Program. The Clean Tech Seed Grant Program, which was jointly developed by CSIT and the NJEDA, provides grants to early-stage, New Jersey-based clean technology companies to help them advance the development of their products and services so they can begin finding investors and generate revenue. 87 percent of awardees have five or fewer employees. Additionally, 27 percent of the awardees are certified as minority-owned businesses, and 47 percent of the awardees are located in an Opportunity Zone.

Funding for the Clean Tech Seed Program is provided through the Board of Public Utilities’ Clean Energy Program to advance clean energy innovation and help New Jersey achieve our goals of 100 percent clean electricity by 2035 and an 80 percent reduction of greenhouse gas emissions by 2050.

A full list of awardees can be found below:

Catalyst Seed Grant Awardees:

  1. AlphaROC Inc. (Essex County): Built a suite of AI-powered tools leveraging unique data sets to help investors gain customized, unbiased insights into a business’ present and future economic health.
  2. ANJO.AI INC. (Bergen County): Pioneered a revolutionary technology for the early detection of life-threatening allergic reactions, specifically Anaphylaxis.
  3. Balcony Technology Group, Inc. (Hudson County): Developing groundbreaking shift in managing and safeguarding real estate data.
  4. BioNanoTech, LLC (Mercer County): Developing new class of IMAC nanoresins that provide high purity in a single-step separation of both cytosolic and membrane proteins.
  5. Conduiit (Hudson County): Building a film and television tax incentive rule engine that will give a variety of stakeholders the ability to better audit their qualified expense spending.
  6. ConductInk, LLC (Burlington County): Developing technology provides the end-user the flexibility to design and create specific diseased-state models tailored to their drug candidate.
  7. Dandelion Science Corp (Hudson County): Developing a novel therapeutic to apply AI-generated algorithms to visually stimulate the brain and retrain it to compensate for central vision loss.
  8. EnaChip, Inc. (Somerset County): Developing a groundbreaking innovation revolved around a proprietary high frequency electroplated multilayer magnetic alloy, which is highly versatile and tailored to diverse applications.
  9. Endomedix, Inc. (Essex County): PlexiClot™ is designed for use as an absorbable hemostat, initially for use in brain and spinal procedures.
  10. Fuceltech (Mercer County): Developing a special type of lasers for atomic and quantum sensors including quantum computing applications.
  11. Heal R World, LLC (Somerset County): Developing an innovative fintech card program pilot.
  1. Innovations Unlimited LLC (Camden County): Developing an alarm that alerts caregivers of a pending or actual dislodgement or decannulation of a tracheostomy tube.
  2. MIRAKARE INCORPORATED (Middlesex County): Developing a platform that integrates both quantitative and qualitative health data, ensuring a comprehensive understanding of the care recipient so that the caregivers can better care for them.
  3. NeuroPair, Inc. (Mercer County): Technology can provide the necessary environment for guided neuron regrowth.
  4. Next Breath, Inc. (Middlesex County): Developing innovative technological approach to managing Chronic Obstructive Pulmonary Disease (COPD) and anxiety in a unique, user-friendly mobile application.
  5. Novara Solutions Group, LLC (Monmouth County): Developing groundbreaking Emergency Tourniquet device that seamlessly integrates a GPS call-out system with a biosensor to provide a comprehensive solution for critical situations.
  6. Oculomotor Technologies Inc. (Mercer County): Developing medical diagnostic software utilizing commercially available virtual reality headsets with integrated eye trackers for diagnosing various vision problems.
  7. Plumeria Therapeutics Inc. (Middlesex County): Developing diagnostics for chronic pain.
  8. Serdiuk Industries, LLC (Atlantic County): Developing specialized technology market catering to Drone/UAV/Air Taxi Launching and Landing Operations on marine vessels.
  9. SNOChip, Inc. (Middlesex County): Developing disruptive optical components and sensors by leveraging innovative metasurface technology.
  10. TacIton, LLC (Monmouth County): TacIton is a data management platform that automates manual work and increases financial analyst productivity.
  11. Talon Biomarkers (Morris County): Flow cytometry assesses cell-associated proteins, determining the quantity of various cell types.
  12. TLA Innovation, Inc. dba BoomID (Bergen County): Developing SAAS Platform for ensuring proper authorization, fraud prevention, and good, healthy user interactions.
  13. VINYO (Camden County): Developing a mobile learning and engagement app helping to make wine more approachable, accessible, and inclusive for the next generation of wine lovers.
  14. Vital Start Health, Inc. (Middlesex County): Developed the first reproductive and maternity mental health platform (COURAGE) using Virtual Reality for evidence-based care.
  15. ZSX Medical, LLC (Burlington County): Developed a breakthrough surgical closure platform with a focus on women’s health, specifically for closing internal surgical incisions in laparoscopic hysterectomy.

Clean Tech Grant Awardees

  1. 4.0 Analytics (Essex County): Developing machine learning based predictive analytics for use on fleet and consumer vehicles to identify potential vehicle engine and emissions component failures.
  2. Biodome, Inc. (Burlington County): Developing sustainable, modular indoor farming units.
  3. CargoFish, LLC (Salem County): Developing energy-efficient, network capable “capillary” gage “encapsulated” system of “tracks” for delivery of consumer goods and a “containerized parcel” utility system.
  4. Energy Research Company (Union County): Developing an instrument that will increase the efficiency of converting renewable biomass feedstocks.
  5. Gendell Associates P.A (Hudson County): Develop a compact pop-up emergency solar power generator.
  6. Grid Discovery (Essex County): Developing SaaS platform to automate and standardize the traditionally complex and time-consuming microgrid planning process.
  7. HiT Nano, Inc. (Burlington County): Developing a full cell SIB system for use in low-cost electric vehicles (EVs).
  8. Materium Technologies, LLC (Union County): Develop technology for development of materials and techniques that can extend the lifespan and enhance the performance of solar panels and semiconductor devices.
  9. Oceanomics, Inc. (Middlesex County): Developed a suite of metabolite, protein, and DNA-based biomarkers that are diagnostic of thermal stress in corals.
  10. PureLi, Inc. (Somerset County): Developing a sustainable and cost-effective extraction technologies for lithium from saline water sources such as Produced Water, brines, and post-processing waste streams.
  11. Redi Farms, LLC (Union County): Repurpose underutilized buildings into vertical, hydroponic farms that serve local communities.
  12. RenewCO2, Inc. (Union County): Developed a cutting-edge electrocatalytic carbon utilization technology (eCUT) that forms C-C bonds at exceptionally low overpotentials so that the energy requirement is substantially reduced relative to competing technologies.
  13. Shutterbug Exchange, Inc. (Hudson County): Revolutionizing the solar industry by revitalizing outdated solar panels through advanced upcycling methods.
  14. Singlet02 Therapeutics, LLC (Union County): Developing a water disinfection technology for use in aquaculture.
  15. Sunray Scientific, Inc. (Monmouth County): Developing a unique multifunctional material/product that utilizes a magnetic field system during the manufacturing process.

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. Visit www.njeda.gov/csit/ for more information about CSIT incentive programs.

About the NJEDA

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

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

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Please be advised that the next Capital City Redevelopment Corporation Board Meeting will be held in person and via teleconference on Tuesday, October 22, 2024, at 11:00 am. 

Members of the public who wish to speak during the public comment segment of the meeting, pertaining to agenda items, may 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:

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:                    719 714 707#

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

Program enables commercial property owners to make energy efficiency, clean energy, and resiliency upgrades

TRENTON, N.J. (October 10, 2024) – Yesterday, the New Jersey Economic Development Authority (NJEDA) Board approved the creation of the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. The program will allow commercial property owners to access a new form of financing to undertake energy efficiency, water conservation, renewable energy, and resiliency upgrades, supporting Governor Phil Murphy’s efforts to transition to 100 percent clean electricity in the state by 2035.

“After seeing the success of C-PACE programs across the country, I was proud to sign legislation into law to establish the program in the Garden State,” said Governor Murphy. “The time for bold, innovative actions that will help thwart the effects of climate change is now. The Garden State C-PACE Program will lead to a greater embrace of clean energy measures that will help improve our communities, while saving money for New Jerseyans.”

“Under Governor Murphy’s leadership, New Jersey has set ambitious clean energy goals, unlocking opportunities in emerging industries to create economic growth and high-quality jobs while protecting the environment for future generations,” said NJEDA Chief Executive Officer Tim Sullivan. “The Garden State C-PACE program will serve as a catalyst for private investment into building decarbonization, renewable energy, and resiliency projects, helping to reduce energy costs and stimulate the economy.”

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 results 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.

In 2021, Governor Murphy signed legislation authorizing the establishment of the C-PACE Program. Over the past decade, C-PACE programs in more than three dozen states have proven an effective tool to attract private capital into the renewable energy, energy efficiency, and resiliency markets. To date, according to the non-profit entity PACENation, there have been 3,340 C-PACE projects throughout the United States, which have drawn a collective investment of $7.2 billion and have created more than 88,700 job-years.

“The Garden State C-PACE program is a game changer for New Jersey, making it easier for property owners to embrace energy efficiency and sustainability without the burden of upfront costs. This will fuel our state’s green transformation, help companies further embrace new technologies, and create jobs,” said Senator Raj Mukherji. “I applaud Governor Murphy for his continuing steadfast commitment to clean energy and for implementing this law. The program will catalyze significant energy cost savings and strengthen our state’s environmental resilience.”

“Across New Jersey, property owners want to transition their buildings to clean energy and to be more energy efficient, but are too often held back by upfront costs,” said Senator Bob Smith, Chair of the Senate Environment and Energy Committee. “Thanks to the NJEDA’s approval of this program, New Jersey will join the dozens of other states that utilize C-PACE to assist their citizens to more rapidly transition their properties, enjoy the benefits of clean energy, and combat the effects of climate change.”

“New Jersey’s new C-PACE program builds upon the Murphy Administration’s commitment to create more opportunities for innovative clean energy projects across the state,” said Eric Miller, Executive Director of the Office of Climate Action and Green Economy. “With this program, we can continue to grow our green economy, while at the same time achieving our ambitious climate goal of lowering emissions 50% by 2030.”

“The Garden State C-PACE Program facilitates an innovative approach to making clean energy choices more financially accessible to commercial property owners and supporting continued job growth in the clean energy sector, which supports the long-term goals identified in the Global Warming Response Act 80×50 Report that aims to reduce greenhouse gas emissions by 80 percent by 2050,” said New Jersey Environmental Protection Assistant Commissioner for Community Investment and Economic Revitalization Elizabeth Dragon. “My DEP colleagues and I encourage eligible property owners to explore the opportunities through C-PACE that will foster a more sustainable future and enhance the quality of life for New Jersey residents.” 

The Garden State C-PACE Program’s Participating Municipality, Qualified Capital Provider, and Qualified Technical Reviewer Intake forms are expected to launch soon, with the project application following shortly thereafter. For more information, including eligibility requirements and program guidelines, visit https://www.njeda.gov/c-pace/ or email Gardenstatecpace@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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$15M pilot program aims to reduce greenhouse gas emissions

TRENTON, N.J. (October 9, 2024) – The New Jersey Economic Development Authority (NJEDA) Board has expanded eligibility requirements for the NJ Cool Program, which provides grants to building owners and tenants undertaking retrofit construction projects that reduce greenhouse gas emissions from existing buildings. While the original program eligibility only included commercial buildings, the Authority has expanded the type of buildings eligible to apply to include industrial and institutional buildings, such as schools, non-profits, and local government buildings. Under the current pilot program, only projects in Atlantic City, Edison, and Newark are eligible for grant funding.

WHAT:            Under the NJ Cool program, the NJEDA will provide grants of up to $1 million to applicants for eligible hard construction costs for emissions-reducing projects, such as updating a building’s heating and cooling system. In addition to reducing emissions, the program will accelerate the adoption of more environmentally friendly building systems, technologies, and construction practices within New Jersey.

WHO:              The NJ Cool program is limited to existing commercial, industrial, and institutional buildings within Atlantic City, Edison, and Newark, which are designated Overburdened Communities per the State’s Environmental Justice Law. Buildings within these communities must meet select building occupancy classes or property classes to be eligible to apply. Eligible applicants may own or lease the building space that will be improved using the grant funding.

WHEN:           Applications are currently open and are first-come, first-served. An updated Notice of Funding Availability will be posted when the expanded program eligibility comes into effect. Please see https://www.njeda.gov/public_information/#NOFA for updates. For more information on the program, including full application requirements and eligible projects, please monitor https://www.njeda.gov/njcool/ or email njcool@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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Applications for the tuition-free program are now open

TRENTON, N.J. (October 7, 2024) – The New Jersey Economic Development Authority (NJEDA) and Kean University are partnering with the Initiative for a Competitive Inner City (ICIC) to bring Building for Growth (BFG) to the State of New Jersey. BFG is a tuition-free program that provides construction companies education and tools to help them increase capacity and develop sustainable growth strategies for their businesses. BFG was developed by ICIC, a national nonprofit advocacy group committed to spurring economic growth in under-resourced communities by supporting small businesses, creating jobs, and building wealth for residents. 

“This partnership between the NJEDA, Kean University, and the Initiative for a Competitive Inner City underscores New Jersey’s commitment to giving our diverse small businesses the opportunity to grow,” said Gov. Phil Murphy. “I’m proud to make this investment in uplifting our underrepresented communities and ensuring that New Jersey’s women- and minority-owned businesses have the resources they need to succeed.”

BFG aims to help businesses build their backlog, access capital, increase their bonding capacity, and position themselves to secure larger-scale contracts. Since its inception, BFG has demonstrated success in improving outcomes for construction companies owned primarily by people of color, women, and veterans. This hybrid 18-week program combines weekly classroom training, dedicated technical assistance, and one-on-one mentorship. Applications for the program are now open. Click here to apply.

“Under Governor Murphy’s leadership, New Jersey continues to implement unique programs to ensure minority- and women-owned small businesses have the resources, support, and access to capital needed to grow and thrive,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJEDA is proud to partner with Kean University and ICIC on this initiative, which will provide quality, tuition-free education for diverse small business owners on the path to success. The effort to bring BFG to the State builds off of our successful investment in the Small Business Bonding Readiness Program, and we plan to continue the partnerships we have developed with the diverse chambers across the state to offer this pivotal program to their members and New Jersey’s diverse business community.”

The program will offer four in-person sessions during the 18-week curriculum, including a kickoff and graduation hosted at Kean University, with panelists who will speak directly to the needs of growing construction businesses in New Jersey. During the course, participants will learn finance fundamentals, how to compete for contracts, construction law, contract negotiation, how to navigate certifications, and how to build a long-term business plan.

“As New Jersey’s urban research university, Kean is committed to creating pathways for economic opportunity and growth in our communities,” said Lamont O. Repollet, Ed.D., president of Kean University. “Our collaboration with NJEDA and ICIC on the Building for Growth program will equip diverse construction businesses with the knowledge and resources they need to thrive. By fostering these types of strategic partnerships, we are advancing Kean’s goal to be a catalyst for positive change and sustainable economic development across the state.”

“Expanding the Building for Growth program to New Jersey marks a significant step in empowering diverse contractors to overcome barriers and achieve lasting success,” said Steve Grossman, CEO of ICIC. “By equipping these talented entrepreneurs with the skills, connections, and support they need, we are not only strengthening their businesses but also fostering economic growth and resilience in under-resourced communities across the state.”

To be eligible for the BFG program, a company must:

  • Be an independent corporation in the construction industry
  • Be at least 51 percent minority, woman- or veteran-owned and/or located in an Overburdened Community;
  • Have annual revenues of $1-10 million and/or be on course to exceed $2 million within the next 3 years; and
  • Headquartered in New Jersey, or perform a significant percentage of contracts in New Jersey.

For a full list of eligibility and to learn more, click here.

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.

About Kean University

Kean University, New Jersey’s urban research university, is a national institution of higher education recognized for its diversity, innovation, and the social mobility of its graduates. Founded in 1855 as a teachers college, Kean has evolved into a thriving research university that supports students as they persist to graduation, give back to their communities, and launch successful careers. Kean’s six colleges offer more than 50 undergraduate programs, six doctoral degree programs, and more than 70 options leading to master’s degrees, professional diplomas, or certifications across a full range of academic subjects. With campuses in Union, Toms River, and Manahawkin, New Jersey, and Wenzhou, China, as well as Kean Online, the University provides students of all backgrounds an affordable and accessible world-class education. Learn more at www.kean.edu.

About ICIC

Initiative for a Competitive Inner City (ICIC) is the widely-recognized authority on accelerating small business growth in under-resourced communities. Founded by renowned Harvard Business School professor Michael Porter 30 years ago as a research and strategy organization, today ICIC drives inclusive economic prosperity in underserved communities through innovative research and programs to create jobs, income, and wealth for local residents.

TRENTON, N.J. (October 2, 2024) – The New Jersey Economic Development Authority (NJEDA) will host a panel discussion focused on alternative funding opportunities to help advance New Jersey-based life sciences companies. Attendees will hear from industry leaders on how to secure funding from non-traditional sources, how the next generation of drugs, diagnostics, and devices will be funded, and ways to fund early and emerging commercial biomedical research.

WHEN:           Thursday, October 24, 2024
5:00 p.m. – 7:00 p.m.

WHO:              Josh Barer, Managing Director at Hibiscus BioVentures
Kathleen Coviello, Chief Economic Transformation Officer, NJEDA
Rik Mehta, Cofounder and CEO of Lactiga US, Inc
John Pennett, Partner, Life Sciences and Technology Group, Eisner Advisory Group LLC
Jorge Ramirez, Vice President, M&A and Business Development, Quest Diagnostics.
Judith Sheft, Executive Director, New Jersey Commission on Science, Innovation and Technology

WHERE:         New Jersey Bioscience Center
675 U.S. Highway 1
North Brunswick, N.J.

PRESS:            OPEN; press wishing to attend should RSVP to media@njeda.gov.

Members of the public can register to attend 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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The New Jersey Economic Development Authority’s next public Board Meeting will be held in person and via teleconference on Wednesday, October 9, 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:              877-692-8955

PARTICIPANT ACCESS CODE:                    4204420

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.

Funding will support economic development activities across communities with offshore wind transmission projects

TRENTON, N.J. (September 27, 2024) – In July, the New Jersey Economic Development Authority (NJEDA) received a notice of a $50 million funding award through the United States Department of Energy’s (USDOE) Transmission Siting and Economic Development (TSED) Grant Program. Upon NJEDA Board approval of the grant award, the NJEDA and its collaborators plan to fund a portfolio of initiatives that will prepare local residents for careers in the clean energy industry. It will also fund local projects designed to increase civic engagement, and further economic mobility in communities with new renewable transmission infrastructure. 

“Offshore wind presents us with not only a pathway to a clean energy future but an opportunity to generate impactful economic growth and family-sustaining, union jobs,” said Governor Phil Murphy. “Thanks to our partners at the U.S. Department of Energy, this critical funding puts us closer to realizing the offshore wind industry’s full potential for the benefit of all New Jerseyans.”

“Under Governor Murphy’s leadership, New Jersey is poised to capture the momentous opportunity presented by offshore wind by investing in projects and infrastructure that will contribute billions back to the state economy, grow our clean energy future, and better the environment for generations to come,” said NJEDA Chief Executive Officer Tim Sullivan. “Though the Transmission Siting and Economic Development Grants program, the NJEDA will fund locally-driven, high-impact, community projects that increase access to workforce training, connect residents with good-paying, family-sustaining careers, and improve quality-of-life.”

The NJEDA’s proposed initiatives will integrate community-driven decision making with capital improvements and foster equitable access to good-paying careers while prioritizing federally designated Disadvantaged Communities (DACs). Following NJEDA board approval and upon execution, the grant will support:

  • A Community Investment Fund to support capital projects identified and chosen by residents through Participatory Budgeting, a democratic process where residents propose, vote on, and lead spending decisions for community improvement projects in localities where new renewable transmission infrastructure is sited. At least 40 percent of the funds under this program will be targeted for DACs.
  • A new Transmission Trailblazers Training program in collaboration with Atlantic City Electric that will provide skills training to 200 individuals for entry-level jobs in transmission, with a target of 70 percent of enrollments from DACs.
  • An upskilling training program on High-Voltage Direct Current methods through the International Brotherhood of Electrical Workers (IBEW) Local Union 400. The program will be provided to 30 individuals, with a target of 40 percent of enrollments comprising workers from underrepresented communities or facing labor market displacement.
  • A Pre-Apprenticeship training program for electrical careers that supports entry into IBEW Local 400 and other electrical trade jobs, with a target of 40 percent of enrollments from DACs and underrepresented communities.
  • The development of a Transmission Corridor Bike Path that will utilize transmission rights-of-way and existing trail paths to create a larger interconnected trail system, bringing economic and quality-of-life benefits to New Jersey communities.

“The Transmission Siting and Economic Development Grant Program’s $50 million award will create numerous opportunities across New Jersey to stimulate the economy, help residents learn new skills through training programs, and enhance the quality of life in disadvantaged and vulnerable communities,” Environmental Protection Commissioner Shawn M. LaTourette said. “We are grateful to our partners at the U.S. Department of Energy for this funding, which will boost our green economy by creating good-paying clean energy sector jobs and enhancing community engagement statewide.”

“The New Jersey Board of Public Utilities (NJBPU) thanks the Biden Administration for its continued support of the Garden State’s growing offshore wind industry, which remains pivotal to our achievement of 100% clean energy by 2035,” said NJBPU President Christine Guhl-Sadovy. “This significant funding will support union job training and spur economic opportunities in the local communities hosting critical transmission infrastructure projects across our state.”

“These programs are exactly the type of smart investments into our disadvantaged communities that the IBEW Local Union 400’s Joint Apprenticeship and Training Committee is proud to be a partner in,” said IBEW Local Union 400’s Director of Training Todd Larsen. “We can bring career opportunities to those who need it most, while building up our State infrastructure and doubling down on clean energy.”

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. (September 26, 2023) – The New Jersey Economic Development Authority (NJEDA) is now accepting applications for the Activation, Revitalization, and Transformation (A.R.T.) Phase II Program. The $15 million program will support the creation of public space activation initiatives, such as place making projects, public art installations, and arts-based projects along commercial corridors in 31 municipalities.

WHAT:            The A.R.T. Phase II program aims to catalyze community placemaking efforts by leveraging New Jersey’s arts and cultural sector as a creative force for change and supporting non-profit organizations focused on creating placemaking projects, public art installations, and arts-based activities and initiatives. With $15 million in funding, the NJEDA will award grants from $100,000 to $500,000.

WHO:              Non-profit organizations with a 501(c)(3), 501(c)(6), or 501(c)(19) status are eligible to apply. Permitted uses of funding include: placemaking projects, public art installations, arts-based projects, art exhibitions, performances, festivals, parades, concerts or concert series, film and video screenings, and cultural programming. Projects must take place within 1.5 miles of an eligible municipality’s passenger rail station.

For a complete list of eligible municipalities and other eligibility requirements, click here.

WHEN:           Applications are now being accepted during a competitive window and will close Monday, November 25, 2024, at 5:00 PM EST.

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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An informational webinar will be held next week

TRENTON, N.J. (September 25, 2024) – The New Jersey Economic Development Authority (NJEDA) today announced that applications will open for the Main Street Acquisition Support Grant on October 1, 2024. The Main Street Acquisition Support Grant is a pilot program that will help boost small business owners’ liquidity following the purchase of a New Jersey commercial property. A webinar outlining the details of the program will be held on September 30, 2024.

WHAT: The Main Street Acquisition Support Grant will reimburse small business applicants up to $50,000 for a portion of closing costs incurred after they have purchased an existing New Jersey commercial property from which their small business will operate. The closing must have taken place after the program application was made open to the public and the grant application date must be no later than one year from date of closing. 

WHO: The small business must be the applicant for this grant and occupy at least 1,000 square feet of total usable square footage of the building purchased. All loans must have been closed in an arm’s length commercial transaction with a conventional lender. More information can be found here.

WHEN: The NJEDA will host a webinar outlining the details of the Main Street Acquisition Support Grant on Monday, September 30, 2024, at 2:00 p.m. For more information and to register, please visit here.

Applications for the Main Street Acquisition Support Grant will open on Tuesday, October 1, 2024.

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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