Establishes a Pilot Program to Provide up to $1.5 Million
to Improve Food Access and Food Security in New Jersey

Trenton, N.J. (April 13, 2022) – The New Jersey Economic Development Authority (NJEDA) Board today approved the creation of the Food Security Planning Grant Program, which will provide up to $1.5 million in grant funding to improve food access and food security in New Jersey. The program, which was established under the New Jersey Economic Recovery Act of 2020 (ERA), will competitively award grants of up to $125,000 to municipal governments, county governments, and/or redevelopment agencies that serve an area that includes a New Jersey Food Desert Community (FDC). The Food Security Planning Grant Program is NJEDA’s first pilot program designed to fund the development of plans to improve food access across the state’s FDCs.

Today, nearly one in 11 New Jersey households reports not having enough to eat within the seven-day week. Additionally, out of the nearly nine million people who reside in New Jersey, approximately one million live in an NJEDA-designated FDC. Ensuring access to nutritious, affordable, and culturally-relevant food is a key component in building a stronger and fairer New Jersey economy, as well as ensuring a sustainable local food system in every community. The Food Security Planning Grant Program is one tool that NJEDA will deploy to empower local government entities and redevelopment agencies to develop and submit plans to improve food access while transforming distressed assets that have presented a hindrance to economic growth.

“Reducing food insecurity serves as a critical component of building a stronger, fairer, and more equitable New Jersey economy,” said New Jersey Governor Phil Murphy. “Creative, methodical approaches such as this planning grant position New Jersey as a national leader in the fight to alleviate food insecurity. By investing in local communities and entrusting local leaders, this program will develop solution-driven and geographically-appropriate plans that will serve New Jerseyans for generations to come.”

“It is often taken for granted that so many of us never have to worry when and where our next meal will come from,” said Assembly Speaker Craig J. Coughlin. “By approving the Food Security Planning Grant Program, New Jersey is taking a crucial step forward to reduce the prevalence of food insecurity in our communities. By providing funding for place-based proposals, NJEDA is advocating for each municipality, zip code, and family currently located within a designated FDC.”

“Currently, approximately 10 percent of New Jersey households report not having enough food on a weekly basis,” said NJEDA Chief Executive Officer Tim Sullivan. “Under Governor Murphy’s leadership, New Jersey has taken a comprehensive approach to designate 50 FDCs. With this first step, we aim to design and deploy effective program, empower local communities, local government, anti-hunger advocates and others to begin thinking about place-based strategies which can lower the rates of food insecurity. Every New Jersey resident, regardless of zip code, should have access to healthy and nutritious foods, and today’s pilot program is a testament to our state’s commitment to ensuring that no community is left behind or forgotten.”

“NJEDA’s Food Security Planning Grant Program serves as a testament that in New Jersey, economic security is directly linked with the health and success of our communities,” said NJEDA’s Executive Vice President of Economic Security Tara Colton. “Access to healthy and nutritious food is not just a public health necessity, but is vital to community development. This program is an important step forward in the fight to reduce rates of food insecurity in New Jersey.”

Full details on the Food Security Planning Grant Program can be found 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.

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

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Fund Will Drive Investment and Cultivate Entrepreneurship

Trenton, N.J. (April 13, 2022) – The New Jersey Economic Development Authority (NJEDA) Board today approved the creation of the New Jersey Innovation Evergreen Fund (NJIEF), a groundbreaking new tool to increase access to strategic resources and venture capital in New Jersey. The NJIEF will create partnerships between the state and the private sector to collaboratively align New Jersey’s well-resourced corporations, and national investors to support entrepreneurs and grow the innovation economy in the state.

Under the NJIEF, the State will become an equity investor in startups deploying up to $600 million into companies alongside professional venture capital groups. This strategic investment will not only support New Jersey’s entrepreneurs, but will also ensure that more companies start, grow, and stay in state. Established by the New Jersey Economic Recovery Act of 2020, the NJIEF is an innovative tool designed to incentivize investment in emerging New Jersey companies while creating mentoring, networking, and educational opportunities to help position these companies for success.

The New Jersey Innovation Evergreen Fund is a groundbreaking public-private partnership that will fuel our innovation economy by attracting entrepreneurs and venture capital to the state,” said Governor Phil Murphy. “The NJIEF draws on the strengths of New Jersey’s world-class corporate leaders to create a steady stream of investment and expertise that will nurture the next generation of innovators. By fostering investments in entrepreneurship and start-up companies, we are driving job creation and economic growth for New Jersey.”

The concept for the NJIEF was first announced in October 2018 as part of Governor Murphy’s economic development strategic plan The State of Innovation: Building a Stronger and Fairer Economy in New Jersey.

“New Jersey has long served as fertile ground for inventions that changed our world – from Thomas Edison and the creation of the lightbulb to Beatrice Hicks and the development of a switch that helped land the Apollo spaceship on the moon,” said New Jersey State Senator Andrew Zwicker. “Our state has a long history of investing in entrepreneurs, and the NJIEF is a key component of reclaiming New Jersey’s leadership role in innovation by creating a vibrant culture of investment that is dedicated to growing the companies of the future.”

“When entrepreneurs think of leaders in innovation, New Jersey should be at the top of their list,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJIEF will not only serve as a novel approach to investing in entrepreneurs, but also a key contributor for job creation and sustainable economic growth. Today’s announcement serves as a testament to Governor Murphy’s leadership in growing NJ’s innovation economy by investing in New Jersey companies and startups.”

“The NJIEF is a game-changing program that will catalyze venture capital investments into New Jersey startups,” said Kathleen Coviello, NJEDA’s Chief Economic Transformation Officer. “The state’s role as an equity investor will encourage established corporations to commit capital and knowledge-sharing resources, creating a dynamic cycle of innovation.”

The seed capital to launch the NJIEF will be raised by auctioning up to $300 million in transferrable tax credits — with an annual cap of $60 million during each of the first five years after program launch — to corporations registered to do business in New Jersey. Corporations seeking to purchase the tax credits must commit to supporting the state’s innovation economy through activities such as mentorship, internships, sales and distribution pipeline access, and availability to serve on the NJIEF Advisory Board for one year.

Auction bids will be evaluated according to price and the specific strategic commitments the bidding company makes to support NJIEF’s portfolio companies and the state’s broader innovation ecosystem, including networking and mentorship opportunities. Once the funding is raised, the NJEDA will partner with professional venture capital firms operating anywhere in the country to co-invest the funds in eligible high growth businesses in New Jersey.

Full details on the NJIEF are available at https://www.njeda.gov/economicrecoveryact/. The NJEDA expects to launch the NJIEF later this year.

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

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Programs Connect NJ Startups with Amenities at NJ Universities & Federal Laboratories

TRENTON, N.J. (April 11, 2022) – The New Jersey Commission on Science, Innovation and Technology (CSIT) today announced plans to open applications for the newly-created Catalyst Research & Development (R&D) Voucher Pilot Program and Round 2 of the state’s Clean Tech R&D Voucher Program. The programs are designed to connect early-stage New Jersey technology companies with access to laboratory facilities and specialized equipment statewide. CSIT expects to open applications for both programs on May 2, 2022 at http://www.njeda.gov/csit. The programs were developed in partnership with the New Jersey Economic Development Authority and New Jersey Board of Public Utilities (NJBPU).

Both the Catalyst R&D and Clean Tech R&D Voucher programs will help the state’s startups accelerate development and transform new discoveries from research stage to commercially viable products and services. Eligible applicants can receive vouchers to defray the costs associated with the use of equipment and technicians for testing and development, and for training in preparation for independent use of the equipment from participating University Facilities or Government or non-profit labs.

“New Jersey’s universities and colleges are uniquely positioned to assist and support entrepreneurs that are developing innovative technologies,” said CSIT Executive Director Judith Sheft. “By harnessing the resources of these world-class higher education institutions and other facilities statewide, the programs announced today will help accelerate the growth of New Jersey startups and strengthen our innovation ecosystem as we continue to reclaim our status as a leader in innovation.”

CSIT will host an informational webinar on the programs on April 19 at 10:00 a.m. to offer tips and advice to potential applicants. Registration information can be found at http://tinyurl.com/CSIT-May2022. A recorded version of the webinar and copy of materials presented will be made available on the CSIT webpage following the event. Applications will be accepted beginning May 2 on a rolling basis until funding from both programs is allocated.

“New Jersey entrepreneurs are creating truly extraordinary things and developing technologies that will have a lasting impact,” said CSIT Acting Chair Debbie Hart. “The programs announced today will enable some of the best minds to leverage state resources as they continue to make their mark on their communities and the innovation ecosystem as a whole.”

Through the $275,000 in total funds provided by the Catalyst R&D Voucher Program, eligible applicants can apply for vouchers to defray the cost associated with eligible services or activities. The vouchers can also be used to hire technicians for testing and development as well as the use of participating facilities. A startup can apply for multiple vouchers, capped at $25,000, within any 12-month period. An approved voucher will be valid for a period of twelve months, starting from the date of the voucher reservation approval letter.

The following technology areas are eligible under the program: advanced manufacturing, advanced transportation and logistics, film and digital media, life sciences (therapeutic drug development and other), non-retail food and beverage, professional and financial services, and technology. Complete eligibility criteria and usage of funds can be found at https://www.njeda.gov/catalyst-voucher.

The Catalyst R&D Voucher Program is a complement to CSIT’s Catalyst R&D Seed Grant Program, which saw a high level of interest from New Jersey’s startup community. That program provided seed funding to approved applicants developing technologies in all industry sectors except clean tech (which has a separate dedicated funding pool).

CSIT also announced today that it will provide vouchers totaling up to $375,000 to eligible startups within the clean technology sector through Round 2 of the Clean Tech R&D Voucher Program. Eligible startups can apply for multiple vouchers up to a cap of $25,000 within any 12-month period. Each approved voucher will be valid for a period of six months, starting from the date of the voucher reservation approval.

The program is open to New Jersey companies with fewer than 25 full-time employees that are developing or testing clean technologies intended to avoid emissions of, or recapture, greenhouse gases and/or criteria pollutants, or to enable such avoidance or recapture in the following target areas: chemicals/advanced materials; energy distribution/storage; energy efficiency; energy generation; green buildings; transportation; waste processing; and water and agriculture. Complete eligibility criteria and usage of funds can be found at https://www.njeda.gov/cleantechvoucher.

Funding for the Clean Tech R&D Voucher Program is provided by NJBPU.

“Our support of these programs will help pave a path for New Jersey to reach Governor Murphy’s important goal of 100 percent clean energy by 2050,” said NJBPU President Joseph L. Fiordaliso. “Startups play an essential role in our state’s growth and success and supporting them will push us forward toward a sustainable future.”

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.

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

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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, April 13, 2022, 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.

Initiatives Will Create Offshore Wind Fellowship Program and Support Universities to Deepen Industry Expertise

TRENTON, N.J. (March 31, 2022) – The New Jersey Economic Development Authority (NJEDA) announced plans to provide a total of more than $1 million to Rutgers University, Rowan University, Montclair State University, and New Jersey Institute of Technology (NJIT) to advance academic research and investment in offshore wind workforce training. Specifically, the NJEDA Board authorized staff to enter into memoranda of understanding with the universities to develop both the NJ Wind Institute Fellowship Program (Fellowship Program) and the University Initiatives to Advance Offshore Wind (University Initiatives).

In its pilot year, the Fellowship Program is expected to support 24 graduate and undergraduate students from diverse backgrounds and disciplines with stipends and resources as they conduct independent research on topics that will further offshore wind development in New Jersey. Selected students will participate as a cohort in workshops, site visits, and guest lectures with industry stakeholders and have the chance to present their research to government, academic and industry experts at the end of their Fellowship.

The University Initiatives will be designed to provide long-term, industry valued expertise for students, faculty, and staff. Potential initiatives can include new curriculum development, pre- and post-doctoral student positions, faculty training in offshore wind, or other activities that support offshore wind learning.

Both the Fellowship Program and University Initiatives are expected to begin this year. Students interested in learning more about these programs should contact their university’s career services office.

Governor Phil Murphy recently proposed dedicating $5 million in funding for the NJ Wind Institute for Innovation and Training in the state’s 2023 Fiscal Year Budget.

“Our partnership with these four leading New Jersey research institutions will ensure that the Garden State’s offshore wind sector is best positioned for growth and industry leadership,” said NJEDA Chief Executive Officer Tim Sullivan. “The Governor’s allocation for the NJ Wind Institute for Innovation and Training in the upcoming budget serves as a testament to the state’s commitment to accelerating economic growth, meeting our clean energy goals, and investing in a robust, diverse, and experienced workforce.”

Managing Director of Wind Institute Development Jenifer Becker echoed Sullivan’s sentiments about the benefits the Fellowship Program and University Initiatives will have on New Jersey’s economy.   

“These initiatives will allow us to capitalize on one of New Jersey’s greatest assets – its research universities – to build a pipeline of industry experts in the offshore wind sector,” said Jen Becker, Managing Director of Wind Institute Development. “This pool of trained talent will be a vital resource as New Jersey continues on its path toward becoming a global leader in this high-growth industry. We look forward to working in collaboration with the Legislature to establish the Wind Institute.”   

The NJEDA will utilize funding from the New Jersey Board of Public Utilities (NJBPU) to fund both the Fellowship Program and the University Initiatives.

“New Jersey has made significant strides in leveraging the state’s knowledge and talent to fuel the clean technology economy under Governor Murphy’s leadership,” said New Jersey Board of Public Utilities President Joseph L. Fiordaliso. “Today’s announcement will directly strengthen New Jersey’s research and development initiatives, while expanding its offshore wind workforce.”

The New Jersey Office of the Secretary of Higher Education has been a key partner to the NJEDA in its work to ensure that students and workers have the tools they need to compete for offshore wind jobs.

“Under Governor Murphy’s leadership, New Jersey continues to invest in higher education programs and partnerships that spur innovation and increase access to opportunity for students of all backgrounds,” said Secretary of Higher Education Dr. Brian Bridges. “The NJ Wind Institute will utilize the talents of our students, faculty, and research institutions to further develop New Jersey as a national leader in offshore wind.”

Each university will play a unique role in the development and implementation of the Fellowship and/or Initiative announced today.

“The collaboration with NJEDA and the NJ Wind Institute on the fellowship program will advance educational and scientific research opportunities for our students and faculty as they work to improve both the economy and our environment,” said Rutgers University President Jonathan Holloway. “As home to the New Jersey Clean Energy Resource Network, Rutgers remains committed to ensuring that businesses in the clean energy sector can grow and prosper in New Jersey.”

“Higher education must adapt quickly to not only meet the needs of this generation, but the generations to follow,” said Rowan University President Ali A. Houshmand. “Investing in sustainability education through our partnership with NJEDA and the NJ Wind Institute ensures that Rowan University students and our faculty can play a prominent role in reshaping the future of our state and planet.”

“Montclair State University – with its deep commitment to serving the public interest and advancing student success – has an opportunity to define the future,” said Montclair State University President Jonathan Koppell. “This collaboration with the NJEDA and the NJ Wind Institute will build on the great work being done by our Clean Energy and Sustainability Analytics Center and provide our students, faculty, and staff with the resources required to continue engaging in bold, imaginative research projects dedicated to bettering our environment.”

“NJIT remains dedicated to prioritizing research and creating opportunities that benefit the public sector,” said NJIT President Joel S. Bloom. “NJIT is proud to partner with NJEDA and the NJ Wind Institute as we work together to fund, develop, and cultivate research projects that grow New Jersey’s offshore wind sector, further economic opportunity and social mobility, and better our environment for generations to come.” 

About the New Jersey Economic Development Authority

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, LinkedIn, and YouTube.

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A meeting of the Commission of Science, Innovation and Technology (CSIT) Board has been scheduled for Friday, April 1, 2022 at 10:00 am.

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

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Conference ID: 133 584 975#

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La NJEDA formará parte de un memorándum de entendimiento con Kean University para facilitar la participación comunitaria en el centro

TRENTON, N.J. (11 de marzo de 2022) – La Junta de la Autoridad para el desarrollo económico de New Jersey (NJEDA) tomó medidas para avanzar con el desarrollo de un Centro de innovación en salud materno infantil único en su tipo en Trenton. A fin de garantizar el éxito del Centro y sus beneficios para la comunidad de Trenton, la Junta de la NJEDA autorizó al personal de la Autoridad a participar en un memorándum de entendimiento (MOU) con el Instituto de Políticas e investigación urbanas John S. Watson en Kean University (instituto Watson) para emprender un proceso iterativo de participación comunitaria. Este proceso está diseñado para generar confianza y apoyo en los residentes de Trenton y en los participantes a cargo de la organización, y para comprender los servicios necesarios para mejorar los desenlaces materno infantiles para madres embarazadas, madres primerizas y los niños de Trenton.

El MOU surge de una Solicitud de información sobre el Centro emitida por la NJEDA en marzo de 2021, en la que los encuestados enfatizaron enérgicamente que la planificación del Centro debía estar orientada a la comunidad, con amplias oportunidades para que los miembros de la comunidad y las partes interesadas de Trenton ofrezcan sus perspectivas sobre las prestaciones del Centro, las colaboraciones y las oportunidades para aprovechar los activos comunitarios actuales en la ciudad. La Junta de la NJEDA también aprobó la asignación de fondos a su contrato de servicios inmobiliarios existente con Jones Lang LaSalle Americas, Inc. (JLL), con la intención de que JLL realice la planificación inmobiliaria inicial para el Centro de innovación en salud materno infantil.

“Dado que el racismo institucionalizado se ha acelerado y ha alcanzado los desenlaces materno infantiles, lograr nuestro objetivo de garantizar un comienzo saludable para cada madre y cada bebé de New Jersey requerirá un espectro de trabajo amplio”, afirmó la Primera Dama Murphy. “El Centro de innovación en salud materno infantil de Trenton desempeñará un papel muy importante en este esfuerzo, proporcionando atención no solo de forma equitativa y con prácticas destacadas de atención materna, sino que también, desde el comienzo, estará moldeado por las opiniones de la comunidad a la que presta servicio. Por último, esperamos resolver la crisis de salud para madres y bebés negros aquí en New Jersey, y servir como referencia de atención materna en todo el país”.

“El Centro de innovación en salud materno infantil será un bien comunitario para Trenton, incluso más allá de su rol obvio de atención médica”, expresó el director ejecutivo de la NJEDA, Tim Sullivan. “Elevará la calidad de la atención para las madres y los recién nacidos en la comunidad, a la vez que catalizará otros desarrollos. También revitalizará la comunidad creando buenos empleos y generando actividad económica. Agradecemos al gobernador Phil Murphy, a la Primera Dama Murphy y a todos quienes apoyan el centro por su apoyo y compromiso con el bienestar de las familias de Trenton”.

En 2019, la Primera Dama Murphy lanzó Nurture NJ en respuesta a la necesidad en New Jersey de mejorar el acceso a atención médica para madres y bebés, con el compromiso de reducir tanto la mortalidad como la morbilidad materno infantil y de garantizar una atención equitativa entre las mujeres y los niños de todas las razas y todos los orígenes étnicos. Esta campaña se centra en mejorar la colaboración y la programación entre todos los departamentos, las agencias y las partes interesadas para convertir a New Jersey en el lugar más seguro y más igualitario del país donde dar a luz y criar a un bebé.

New Jersey ocupa el puesto 47 en el país en cuanto a muertes maternas, y tiene una de las desigualdades raciales más grande en cuanto a la mortalidad tanto materna como infantil. Una madre negra en New Jersey tiene siete veces más probabilidades que una madre blanca de morir a causa de complicaciones relacionadas con la maternidad, y un bebé negro tiene tres veces más probabilidades de morir antes de su primer cumpleaños que un bebé blanco.

Nurture NJ se basa en un plan estratégico, publicado en enero de 2021, que incluía alrededor de 100 recomendaciones y estrategias en nueve ámbitos diferentes para abordar este desafío generacional, e incluía la recomendación de establecer un Centro en la capital del Estado que se dedique a la innovación en salud materno infantil mediante asociaciones con las comunidades académica, inversionista, empresarial y religiosa del Estado”. 

El Centro tiene el objetivo de catalizar innovaciones para mejorar los desenlaces de salud en madres y bebés y para desempeñarse como sede para los participantes de New Jersey dedicados a mejorar la salud de los bebés y las madres de New Jersey a través de la provisión igualitaria de servicios de atención médica.

La participación del Instituto Watson se centrará específicamente en los servicios que son más necesarios, en dónde podría ubicarse el Centro para servir a las comunidades que más lo necesitan, en comprender mejor el panorama actual de las ofertas de servicios para nuevos padres y niños pequeños en Trenton, y en oportunidades para aprovechar los recursos comunitarios existentes en la ciudad. El Instituto Watson también se asociará con investigadores en Stockton University como parte del esfuerzo de participación comunitaria.

“Es muy importante salvar las vidas de los miembros más pequeños y valiosos de nuestra comunidad, y aplaudimos de corazón a la Primera Dama Murphy y a todos los involucrados con Nurture NJ”, afirmó el presidente de Kean University, Lamont O. Repollet, Ed.D. “El Instituto Watson tiene una larga trayectoria de servicio con los centros urbanos de New Jersey. Nuestros equipos ansían trabajar con los participantes de la ciudad de Trenton para ayudar a que este Centro dé sus frutos y permita un mayor acceso a atención para las embarazadas de color y sus bebés”.

“La salud materna es un indicador importante de si estamos brindando el mejor servicio posible a nuestros ciudadanos”, manifestó el alcalde Reed Gusciora. “Estas clínicas cubrirán una necesidad vital en nuestra comunidad, ayudarán a tapar los huecos de nuestra red de seguridad y garantizarán el bienestar de nuestra energía vital, nuestras madres. Ellas son el recurso más valioso en la ciudad capital y estoy orgulloso de apoyar su salud y bienestar”.

Los departamentos de Servicios Humanos y Salud de New Jersey han desempeñado roles fundamentales en la implementación de las recomendaciones que se detallan en el plan estratégico de Nurture NJ y son socios esenciales en el desarrollo del Centro.

“Estamos muy emocionados de trabajar con la Primera Dama y la NJEDA en esta nueva e innovadora iniciativa para nuestra ciudad capital”, dijo la comisionada interina de Servicios Humanos, Sarah Adelman. “El Centro de Innovación de Salud Materno Infantil en Trenton desempeñará un papel clave en los esfuerzos de toda nuestra administración para mejorar y transformar la salud materno infantil en New Jersey, especialmente para las mujeres de color. Esperamos asociarnos para hacer de este Centro una realidad y trabajar con las mamás de Trenton para mejorar su bienestar y la salud de sus bebés”.

“Tenemos la obligación moral de garantizar el acceso igualitario a atención médica para madres y bebés, y estamos orgullosos de trabajar con la Primera Dama Murphy y nuestras agencias asociadas para implementar las recomendaciones que se indican en el plan estratégico de Nurture NJ”, mencionó la comisionada del Departamento de Salud de New Jersey, Judith Persichilli. “El Centro de innovación en salud materno infantil marcará un antes y un después para madres y bebés, y tendrá en cuenta las necesidades y los deseos de la comunidad a la que brinda servicio”.

Los esfuerzos de la NJEDA en relación con Nurture NJ y el Centro de salud materno infantil son encabezados por la vicepresidenta ejecutiva de Seguridad económica de la Autoridad, Tara Colton.

“Mantener un diálogo abierto con los miembros de la comunidad sobre sus necesidades es fundamental para desmantelar las desigualdades sistémicas que existen en relación con el acceso a atención médica para embarazadas de color y sus bebés”, afirmó Colton. “Nuestra Junta dio un paso importante hoy al garantizar que las líneas de comunicación no solo permanecen abiertas sino más fuertes”.

Acerca de la Autoridad para el desarrollo económico de New Jersey

La Autoridad para el desarrollo económico de New Jersey (NJEDA) es la agencia principal del Estado para impulsar el desarrollo económico. La NJEDA tiene el compromiso de hacer del Estado de New Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias clave para ayudar a forjar comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de New Jersey y ofrecer oportunidades para una economía más sólida y justa. La NJEDA tiene el compromiso de hacer del Estado de New Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de New Jersey y ofrecer oportunidades para una economía más sólida y justa.

Para obtener más información acerca de los recursos de la NJEDA para empresas, llame a la línea de atención al cliente de NJEDA al 844-965-1125 o visite https://www.njeda.gov y siga a @NewJerseyEDA en Facebook, Twitter, Instagram, LinkedIn y YouTube.

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NJEDA to Enter into Memorandum of Understanding with Kean University
to Facilitate Community Engagement for Center

TRENTON, N.J. (March 10, 2022) – The New Jersey Economic Development Authority (NJEDA) today announced that its Board has taken steps to further the development of a first-of-its-kind Maternal and Infant Health Innovation Center in Trenton. To ensure the success of the Center and its benefit to the Trenton community, the NJEDA’s Board yesterday authorized Authority staff to enter into a Memorandum of Understanding (MOU) with the John S. Watson Institute of Urban Policy and Research at Kean University (Watson Institute) to undertake an iterative community engagement process. This process is designed to build trust and support from Trenton residents and organizational stakeholders, as well as understand the services needed to improve maternal and infant health outcomes for Trenton’s new and expectant mothers and children.

The MOU stems from a Request for Information about the Center issued by NJEDA in May 2021, in which respondents strongly emphasized that planning for the Center needed to be community-driven, with ample opportunity for Trenton community members and stakeholders to offer their perspectives on the Center’s offerings, partnerships, and opportunities to leverage existing community assets in the City. The NJEDA Board also approved adding funds to its existing real estate services contract with Jones Lang LaSalle Americas, Inc. (JLL), with the intention of having JLL undertake the initial real estate planning for the Maternal and Infant Health Innovation Center.

“Because institutionalized racism has seeped its way into our maternal health outcomes, reaching our goal of ensuring that every mother and baby in New Jersey gets off to a healthy start will require a broad scope of work,” said First Lady Tammy Murphy. “The Maternal and Infant Health Innovation Center in Trenton will play a leading role in this effort, providing care not only equitably and with leading maternal care practices, but also, from the very beginning, will be shaped by the input of the community it serves. Ultimately, we hope to solve our Black maternal and infant health crisis here in New Jersey and serve as the benchmark for maternal care nationwide.”

“The Maternal and Infant Health Innovation Center will be an asset to Trenton even beyond its obvious healthcare implications,” said NJEDA Chief Executive Officer Tim Sullivan. “It will elevate the standard of care for local moms and newborns while catalyzing additional development. It will also revitalize the community by creating good jobs and generating economic activity. We thank Governor Phil Murphy, First Lady Murphy, and the Center’s many supporters for their advocacy for and commitment to the well-being of Trenton families.”

In 2019, First Lady Murphy launched Nurture NJ in response to New Jersey’s need to improve access to care for expectant mothers and babies, with a commitment to both reducing maternal and infant mortality and morbidity and ensuring equitable care among women and children of all races and ethnicities. This campaign focuses on improving collaboration and programming between all departments, agencies, and stakeholders to make New Jersey the safest and most equitable place in the nation to give birth and raise a baby.

New Jersey ranks 47th in the nation for maternal deaths and has one of the widest racial disparities for both maternal and infant mortality. A Black mother in New Jersey is over seven times more likely than a white mother to die from maternity-related complications, and a Black baby is over three times more likely than a white baby to die before his or her first birthday.

Nurture NJ is guided by a strategic plan, published in January 2021, which included nearly 100 recommendations and strategies across nine domains to tackle this generational challenge, including a recommendation to establish a Center in the State capital focused on innovation in maternal and infant health through partnerships with the state’s academic, funder, business, and faith communities. 

The Center is intended to catalyze new innovations to drive improved maternal and infant health outcomes and to serve as a central hub for New Jersey’s stakeholders dedicated to improving the health of New Jersey’s babies and mothers through equitable delivery of health care services.

The Watson Institute’s engagement will have a particular focus on what services are most needed, where the Center could be best located to serve the communities most in need, better understand the current landscape of service offerings for expectant parents and young children in Trenton, and opportunities to leverage existing community assets in the City. The Watson Institute will also partner with researchers at Stockton University as part of the community engagement effort.

“Saving the lives of the youngest and most vulnerable members of our community is critically important, and we wholeheartedly applaud First Lady Murphy and all those involved with Nurture NJ,” said Kean University President Lamont O. Repollet, Ed.D. “The Watson Institute has a long history of service to New Jersey’s urban centers. Our team looks forward to working with the stakeholders in the Trenton community to help bring this Center to fruition, leading to increased access to care for expectant mothers of color and their babies.”

“Maternal health is an important indicator as to whether we’re serving our citizens to the fullest,” Mayor Reed Gusciora said. “These clinics will serve a vital need in our community, helping to bridge gaps in our safety net and ensure the wellbeing of our lifeblood, our mothers. They are the most valuable resource in the Capital City, and I am proud to support their health and wellness.”

The New Jersey departments of Human Services and Health have played pivotal roles in the implementation of recommendations outlined in the Nurture NJ strategic plan and are key partners in the development of the Center.

“We are very excited to work with the First Lady and the NJEDA on this innovative new initiative for our capital city,” Human Services Acting Commissioner Sarah Adelman said. “The Maternal and Infant Health Innovation Center in Trenton will play a key role in our administration-wide efforts to improve and transform maternal and infant health across New Jersey, especially for women of color. We look forward to partnering to make this Center a reality and working with Trenton’s moms to enhance their wellness and the health of their babies.”

“We have a moral obligation to ensure equitable access to healthcare for mothers and infants and are proud to work with First Lady Murphy and our partner agencies to implement the recommendations stated in the Nurture NJ strategic plan,” said New Jersey Department of Health Commissioner Judith Persichilli said. “The Maternal and Infant Heath Innovation Center will be a game-changer for moms and babies, and one that takes into account the needs and wants of the community it serves.”

The NJEDA’s efforts surrounding Nurture NJ and the Center for Maternal and Infant Health are being spearheaded by the Authority’s Executive Vice President of Economic Security Tara Colton.

“Maintaining an open dialogue with community members about their needs is fundamental to dismantling systemic inequities that exist with respect to access to care for expectant mothers of color and their children,” Colton said. “Our Board took an important step today in ensuring that the lines of communication not only stay open but stay strong.”

About the New Jersey Economic Development Authority

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, LinkedIn, and YouTube.

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Award for companies approved to sell their losses through the program in 2021 average $1.82 million

TRENTON, N.J. (March 9, 2022) – The New Jersey Economic Development Authority (NJEDA) announced that 32 early-stage companies have been approved to share a combined $58.1 million in funding through New Jersey’s 2021 Net Operating Loss (NOL) Program.

The NOL Program, jointly administered by the NJEDA and the New Jersey Department of Treasury’s Division of Taxation, enables qualified companies to sell up to $20 million in benefits generated from their unused New Jersey net operating losses and research and development (R&D) tax credits for cash to unaffiliated, profit-generating corporate taxpayers in the state of New Jersey. The cash can then be used for working capital or to fund research. To date, more than $1.126 billion in funding has been distributed to over 570 technology and biotechnology companies since the program’s inception in the late 1990s.  The average benefit award for approved companies in the program 2021 was $1.82 million.

The NOL Program got a boost in January 2021, when Governor Phil Murphy signed the New Jersey Economic Recovery Act of 2020 (ERA). Part of the Act increased the program’s annual cap from $60 million to $75 million. Of this $75 million, $10 million is reserved for the surrender of transferable tax benefits exclusively by eligible companies operating within the boundaries of the State’s three Innovation Zones (technology clusters fostering business-university collaboration located in Camden, Newark and the Greater New Brunswick Area). It also increased the lifetime cap for an individual company from $15 million to $20 million.

“The NOL Program has a long and successful history of helping early-stage technology and life sciences companies by providing the resources they need to become profitable and prepare for long-term growth in New Jersey,” said NJEDA Chief Executive Officer (CEO) Tim Sullivan. “In line with Governor Murphy’s commitment to making New Jersey the most diverse, inclusive innovation ecosystem in the nation, the NOL Program will lead to additional job creation within New Jersey’s innovation ecosystem and to the advancement of life-saving and life-enhancing technologies.”

In addition to being vital to emerging companies, the NOL Program also provides enormous benefits to the profitable companies that are buying the net operating losses and unused R&D tax credits. A profitable company can purchase tax credits at a discount, based on the market price at the time. These tax credits have traditionally traded somewhere between 88 and 94 cents on the dollar. Once purchased, the tax credits can then be applied to potentially reduce the buyer’s state tax obligation. Profitable companies interested in becoming buyers for the program can visit http://www.njeda.gov/nol for details. The names of the buyers who chose to be publicly listed can also be found on that website.  

Caladrius Biosciences, Inc., located in Basking Ridge, TLC Products Inc. located in Blackwood, and Celsion Corporation, located in Lawrenceville, are three of the early-stage companies that benefited from the NOL Program in 2021. TLC Product Inc. is participating in the NOL Program for the first time in 2021.

Caladrius Biosciences, Inc. is a clinical-stage biopharmaceutical company targeting select cardiovascular indications. The company’s proprietary platform technology leverages the body’s natural repair mechanisms using formulations unique to each medical indication.

“Thanks to the NOL Program’s increased lifetime cap this year, we were able to secure more funding than we would have under the program’s previous parameters,” said Caladrius President and CEO David J. Mazzo, Ph.D. “This non-dilutive capital will be instrumental to the advancement of our efforts to develop first-in-class therapies. We are grateful for the NJEDA’s continued support of the New Jersey biotech community through resources such as the NOL program.”

Established in 2017, TLC Products Inc. is a technology-focused company supporting the adoption of a new class of high performance, lightweight Co-Graphene(TM) thermoplastic composites in a variety of end markets and applications. The company built a machine to validate the process to make graphene composites from graphite, creating a cost-efficient technology for graphene composites. TLC Products currently operates in a 20,000-square-foot facility located in Camden County with a growing team of scientists, engineers, and operators, and is currently working with many companies as well as the US government.

“The NOL enables early-stage technology and life sciences companies like TLC Products to better position ourselves for profitability and long-term growth,” said TLC Products Inc. Founder Charles Chang. “By leveraging the funding we receive through the NOL Program, TLC will be able to further invest in our continuous commercial production process and strengthen our competitive position in the plastics industry supply chain.”

Celsion is a fully integrated, clinical stage biotechnology company focused on advancing a portfolio of innovative cancer treatments, including immunotherapies and DNA-based therapies.  The company has a product pipeline that includes GEN-1, a DNA-based immunotherapy for the localized treatment of ovarian cancer, and ThermoDox®, which is used for several cancer indications.  In addition, the company has developed a novel platform for the development of nucleic acid vaccines currently focused on COVID.

“The NJEDA’s NOL Program is a terrific example of the ways New Jersey is reinforcing its commitment to growing its already vibrant innovation ecosystem, the biotechnology industry, and the development of new lifesaving therapies,” said Celsion Corporation’s Chairman, President and CEO Michael H. Tardugno. “We appreciate the NJEDA’s support as we continue to develop life-saving drugs and we applaud their efforts to foster continued investment and growth for New Jersey businesses.”

The application process for the 2022 NOL Program is scheduled to open in May 2022. On this next round of awards, the $10 million reserved for the surrender of transferable tax benefits exclusively by eligible companies operating within the boundaries of the State’s three Innovation Zones Eligibility will be expanded to $15 million and include qualified companies located in Opportunity Zone-eligible census tracts, as well as eligible companies certified as women and minority-owned businesses in New Jersey.

In addition to expanding the NOL Program, the ERA creates a suite of programs that includes tax credits to incentivize job creation, new construction, and revitalization of brownfields and historic properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry. The NJEDA will continue to engage the public as new programs and rules are developed.

About the New Jersey Economic Development Authority

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, LinkedIn, and YouTube.

CompanyCompany Headquarters/Base of Operations (Municipality)Company Headquarters/Base of Operations (County)
1Acuitive Technologies, Inc.AllendaleBergen
2Agile TherapeuticsPrincetonMercer
3AIM ImmunoTech, Inc.New BrunswickMiddlesex
4Angel Medical Systems, Inc.EatontownMonmouth
5Bellerophon Therapeutics, Inc.WarrenSomerset
6BioAegis TherapeuticsNorth BrunswickMiddlesex
7Brilliant Light Power, Inc.CranburyMercer
8Caladrius Biosciences, Inc.Basking RidgeSomerset
9Celldex Therapeutics, Inc.HamptonHunterdon
10Celsion CorporationLawrencevilleMercer
11Cormedix, Inc.Berkeley HeightsUnion
12Cytosorbents Medical, Inc.Monmouth JunctionMiddlesex
13ElectroCore, Inc.Basking RidgeSomerset
14Gadget Software Inc.NewarkEssex
15Hope Portal Services, Inc.HolmdelMonmouth
16IoTecha CorpPiscatawayMiddlesex
17Malbec SolutionsSomersetSomerset
18Matinas BioPharma Holdings, Inc.BedminsterSomerset
19Nanotech Industrial Solutions, Inc.AvenelMiddlesex
20Ocean Power Technologies, Inc.Monroe TownshipMiddlesex
21OncoSec Medical, Inc.PenningtonMercer
22PDS Biotechnology CorporationFlorham ParkMorris
23Provention Bio, Inc.Red BankMonmouth
24Rafael Pharmaceuticals, Inc.NewarkEssex
25Scynexis, Inc.Jersey CityHudson
26Solidia TechnologiesPiscatawayMiddlesex
27Soligenix, Inc.PrincetonMercer
28Svelte Medical SystemsNew ProvidenceUnion
29Teligent Pharma, Inc. fka IGI Labs, Inc.BuenaAtlantic
30TLC Products, Inc.BlackwoodCamden
31United Silicon CarbideMonmouth JunctionMiddlesex
32VectraCor, Inc.TotowaPassaic

Please be advised that a telephonic meeting of the New Jersey Economic Development Authority is scheduled for 10:00 AM, Wednesday, March 9, 2022.

The Members will convene to via conference call only.  Members of the public may participate in the meeting by calling in on the conference line.  Members of the public will have an opportunity to speak during the public comment segment of the meeting.

The following conference number is being provided:

CONFERENCE NAME: NJEDA BOARD MEETING (March 9, 2022)

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.com. The meeting will also be recorded and posted to the NJEDA website shortly after the conclusion of the meeting.