Press Releases Archives - Page 63 of 152

TRENTON, N.J. (December 8, 2021) – The New Jersey Economic Development Authority (NJEDA) announced today the first awards under the Government Restricted Municipality (GRM) Planning Grants Program. The cities of Atlantic City, Paterson and Trenton, which are the only entities identified as GRM municipalities in the New Jersey Economic Recovery Act of 2020 (ERA), will each receive a grant of $250,000 under Phase One of this two-phase Program.

The funds awarded to each city will support the creation of detailed, long-term, and action-oriented strategic plans that synthesize existing plans from both the municipality and stakeholders and identify technical capacity gaps that have held projects back from completion. These projects are considered to have significant potential to provide sustainable and resilient benefits for community members and business stakeholders.

“Governor Murphy’s ERA is laser-focused on bringing sustainable economic growth to urban centers that can benefit from the creation of new family-sustaining jobs, quality housing and new commercial space,” said NJEDA Chief Executive Officer Tim Sullivan. “These planning grants will accelerate Paterson’s, Atlantic City’s and Trenton’s ability to maximize the impact of our new suite of tools to invest in their communities.”

In line with Governor Phil Murphy’s commitment to investing in communities and people, the GRM Planning Grants Program, announced in June 2021, leverages $3 million of ERA funding to provide grants to qualified applicants to create long-term strategic action plans to catalyze stalled projects and meet the community’s goals.

Following the creation of these strategic action plans under Phase One, Phase Two of the program will provide additional funding of up to $750,000 per GRM to support the execution of projects identified in their strategic action plans.

Eligibility for Phase 2 will be limited to GRMs with plans developed under Phase 1: The approved projects looked at innovative ways to create new collaborations and analyze plans and planning studies from a variety of stakeholders.

Through its Department of Planning, Atlantic City will leverage a rapid but thorough nationwide contract bid for a major planning and analysis partner. The dual focus of the plan will look at gaps that exist for current project development partners as well as identifying solutions that will increase the flow of outside capital.

“The economic revitalization of Atlantic City remains a top priority for my Administration,” said Mayor Marty Small, Sr. “The GRM Planning Grants Program will provide the critical funding needed to support innovative projects that aid in the long-term growth of the great City we call home.”

Paterson, utilizing a City-led integrated special project team, will focus their planning efforts on projects that are community-based but lack planning and research to move to market. The City will also look at the needs around redevelopment areas, city-wide redevelopment plans and their impact on municipal and stakeholder projects.

“As America’s first planned industrial city, we are thoroughly excited about this announcement from the NJEDA. These vital funds will ensure that Paterson engages key stakeholders in crafting new blueprints for comprehensive revitalization and redevelopment citywide,” said Mayor Andre Sayegh. “City planning is the management of change. It should inspire both hope and pragmatism for the future of our great City.”

Trenton will work with two core partners: Greater Trenton and New Jersey Future, who will conduct an in-depth assessment of economic opportunities based on city assets and market condition. The plan will report and examine the goals and measures for success of the City’s progress to implementing its master plan in order to determine Trenton’s ability to act strategically and take on a long-term planning approach; analyze strengths to be built from; and identify existing gaps that could slow implementation, including internal systems, procedures, and capacity.

“The grants approved today will enable the City, in partnership with Greater Trenton and NJ Future, to take stock of our assets and create a thoughtful, strategic path forward toward implementing Trenton’s Master Plan,” said Mayor Reed Gusciora. “We are so grateful for the state’s support, and are excited to launch this vital planning initiative that will create a solid foundation of economic growth for Trenton’s small businesses and residents now and into the future.”

More information about the GRM Planning Grants Program is available at https://www.njeda.gov/grmpgp.

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 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

###

Please be advised that a telephonic meeting of the New Jersey Economic Development Authority is scheduled for 10:00 AM, Wednesday, December 8, 2021.

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 (December 8, 2021)

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.

TRENTON, N.J. (December 6, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that the new Brownfields Impact Fund will launch later this winter. The program will provide grant funding and low-interest loans to public sector and non-profit organizations, as well as low-interest loans to for-profit organizations, to carry out cleanup activities at brownfield sites throughout the state. Potential applicants for the Brownfields Impact Fund can pre-qualify now by visiting https://www.njeda.gov/brownfieldsimpactfund/.

Brownfields are former commercial or industrial sites that are vacant or underutilized and are suspected or known to be contaminated. These properties have a negative impact on New Jersey’s economy because they lower property values, decrease employment opportunities, and lead to a loss of tax revenue. Brownfields are diverse in terms of shape, size, contamination level, and location. A brownfield can be a large, former industrial property or a small, local site such as an abandoned gas station in a downtown area.

The Brownfields Impact Fund will make low-interest loans up to $350,000 available to for-profit organizations and will make grants up to $350,000 available to nonprofit organizations and units of local governments. Grants may be combined with low-interest loans to help facilitate the redevelopment of brownfields by addressing funding gaps to make the remediation phase of the project financially viable. Once a site has been remediated, construction financing may be more readily obtained by a developer. The goal of the Fund is to advance cleanup activities that will in turn help promote the redevelopment of brownfield sites for productive reuse.

“As we continue to build a stronger, fairer New Jersey economy, Governor Phil Murphy has identified the remediation and redevelopment of brownfield sites as an important component of smart planning that will allow our State to meet its goals for economic growth,” NJEDA Chief Executive Officer Tim Sullivan said. “The Brownfields Impact Fund will increase the economic impact of the State’s investment, reactivating long-stalled sites and encouraging job creation through productive reuse of long dormant properties.”

Eligible uses of the loan and/or subgrant funding include remediation activities necessary to clean up the release or mitigate the threatened release of hazardous materials and other activities approved by the U.S. Environmental Protection Agency (US EPA).

To be eligible for a loan under the Brownfields Impact Fund, entities must be able to demonstrate site control or a path to site control of a brownfield property at time of application. Nonprofit organizations and local government entities applying for subgrant funding must own the brownfield property at the time of application and retain ownership for the term of the subgrant.

Furthermore, all applications for either the loan or subgrant must be accompanied by a letter of support from the mayor or, if the position of mayor does not exist, from the governing body of the municipality in which the brownfield site is located. Applicants must also be in good standing with the NJ Department of Labor and Workforce Development and the NJ Department of Environmental Protection.

Applications for the Brownfield Impact Fund are expected to open early 2022. For the first 90 days after the date the Authority begins accepting applications, eligibility will be limited to federally designated Opportunity Zones in the States’ Community Collaborative Initiative (CCI) cities. After the 90 days, the Authority will accept applications from projects located throughout the entire state.

Loans or subgrants cannot be provided to entities who are liable under federal law for contamination at the property. Private developers will not be eligible to apply for grant funding. Funds will be awarded on a first come, first serve basis upon receipt of a completed application.

The Brownfields Impact Fund is part of NJEDA Community Revitalization, a suite of solutions designed to support development that transforms underutilized and contaminated spaces into community assets, with the goal of achieving a greener, fairer New Jersey. This includes ensuring that residents living in communities that have historically suffered from disinvestment, environmental contamination, and health disparities benefit from brownfields redevelopment.

For additional details, eligibility criteria, and award sizes for the Brownfields Impact Fund, please visit https://www.njeda.gov/brownfieldsimpactfund/.

About the New Jersey Economic Development Authority

###

Trenton, N.J. (December 3, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that applications are open for the Offshore Wind Tax Credit Program as updated by the New Jersey Economic Recovery Act (ERA) and P.L. 2021, c. 160. With an overall budget of up to $350 million, the program provides tax credits, often up to 40-60 percent of the qualified capital investments made by a business in a qualified wind energy facility that will be employing at least 150 new, full-time employees.

“Between the New Jersey Wind Port, new offshore wind workforce development programs, and Governor Phil Murphy’s dedication to growing a greener, fairer New Jersey, the Garden State is quickly emerging as the American capital of offshore wind,” said NJEDA Chief Executive Officer Tim Sullivan. “The Offshore Wind Tax Credit is a powerful financial tool that will complement these efforts by enabling global offshore wind companies to make the decision to locate, invest, hire, and most importantly, build a local supply chain here in New Jersey.”

Offshore wind is one of the high-growth, high-wage sectors the State identified in Governor Murphy’s Economic Development Plan and is a central component of Governor Murphy’s Energy Master Plan to achieve 100 percent clean energy by 2050. As part of that plan, New Jersey has committed to producing 7,500 megawatts of offshore wind energy by 2035.

To achieve these goals, the Governor has taken a comprehensive approach to establishing New Jersey as a global hub of offshore wind. In September, the State broke ground on the New Jersey Wind Port, a first-in-the-nation infrastructure investment that will provide a location for essential staging, assembly, and manufacturing activities related to offshore wind projects on the East Coast that has potential to create up to 1,500 manufacturing, assembly, and operations jobs and drive billions of dollars in economic growth. Through the Wind Institute, and in collaboration with the New Jersey Board of Public Utilities (NJBPU), the NJEDA has also awarded nearly $4 million to community colleges throughout the state to support safety training and turbine technician training programs.

The Offshore Wind Tax Credit complements these efforts by providing tax incentives to support businesses making investments in qualified wind energy facilities. Eligible applicants can receive tax credits, often up to 40-60 percent of a project’s qualified capital investments, which can be applied against corporate business tax or insurance premiums. Tax credits are released in increments of 20 percent of the total credit amount per year for five years. Businesses can also sell their tax credits for at least 75 percent of the credit amount.

To receive tax credits, businesses must meet minimum capital investment and job creation requirements. In line with the NJEDA’s commitment to fiscal responsibility, projects must demonstrate that as a result of the capital investment and the resultant job creation, the State of New Jersey will receive at least 110 percent of the total tax credit amount over a 5-year period. Applicants may request an extended net-benefit period of up to 20 years if they can present verifiable evidence of a longer company commitment to the state.

More information about the Offshore Wind Tax Credit, including detailed eligibility criteria, is available at https://www.njeda.gov/offshorewindtaxcredit/.

Applications for the Offshore Wind Tax Credit are now open and will be accepted on a rolling basis until the program cap is reached. Businesses interested in applying for the program should contact offshorewindtaxcredit@njeda.com.

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.

###

$20M Expansion to Pilot Program Helps Jersey Shore Businesses &
Organizations Purchase Zero-Emission Medium-Duty Vehicles

TRENTON, N.J. (December 1, 2021) – The New Jersey Economic Development Authority today opened applications for its popular New Jersey Zero Emission Incentive Program (NJ ZIP) pilot to businesses and organizations in the Greater Shore Area to help them offset the cost of purchasing new, zero-emission medium-duty vehicles (MDVs). Last month, the NJEDA Board approved a $20 million expansion of the program funding pool, which builds on momentum generated since the launch of the clean energy initiative. NJ ZIP is also available to entities in the greater Newark, Camden, and New Brunswick areas.

With this expansion, nearly $45 million has been allocated to the voucher pool. Applications are being accepted on a rolling basis and can found at http://www.njeda.gov/njzip. The website also includes links to useful resources for potential program applicants, including: webinars for vendors and purchasers, eligibility requirements, frequently asked questions, accounting of remaining funds, and a link to email the NJ ZIP program manager directly.

Businesses and organizations in the four designated greater community areas can apply for vouchers to purchase new, Class 2b to Class 6 zero-emission MDVs. The size of vouchers awarded through the program varies depending on the class of vehicle being purchased, from a minimum of $25,000 for Class 2b vehicles to $100,000 for Class 6 vehicles. Bonuses are available for small businesses (fewer than 25 staff or less than $5 million in annual revenues); women-, minority-, and veteran-owned businesses; vehicles that are manufactured in New Jersey; and small businesses that scrap their eligible MHDVs. More information on eligibility and processes is available at https://www.njeda.gov/njzip.

“Our shore communities have repeatedly experienced the long-term impacts of climate change over the last decade and it is incumbent upon us to continue to create and leverage innovative solutions to blunt these effects,” NJEDA Chief Executive Officer Tim Sullivan said. “NJ ZIP sits at the intersection of clean energy and environmental justice and is a vital part of Governor Phil Murphy’s whole-of-government approach to combating climate change and spurring economic opportunities in historically overburdened communities.”

For the purposes of this pilot expansion, the Greater Shore Area is defined as the overburdened communities within or intersected by a line set at a 10-mile distance from New Jersey’s eastern Atlantic shore, spanning approximately from Sandy Hook Bay to Delaware Bay. This includes the following municipalities:

Absecon, Asbury Park, Atlantic City, Barnegat Township, Berkeley Township, Bradley Beach Borough, Brick Township, Brigantine, Cape May, Colts Neck Township, Eatontown Borough, Egg Harbor City, Egg Harbor Township, Farmingdale Borough, Galloway Township, Highlands Borough, Holmdel Township, Howell Township, Keansburg Borough, Keyport Borough, Lacey Township, Lakewood Township, Little Egg Harbor Township, Long Branch, Lower Township, Manchester Township, Middle Township, Middletown Township, Neptune City Borough, Neptune Township, North Wildwood, Northfield, Ocean City, Ocean Gate Borough, Ocean Township, Pleasantville, Point Pleasant Beach Borough, Red Bank Borough, Seaside Heights Borough, Shrewsbury Township, Somers Point, South Toms River Borough, Stafford Township, Tinton Falls Borough, Toms River Township, Tuckerton Borough, Union Beach Borough, Ventnor City, Wildwood, Woodbine Borough

Vouchers are available on a first-come, first-served basis, with set-asides for the Greater Shore Areas, small- and micro-businesses, and passenger transportation. Based on the continued positive results of this expansion of the pilot program, additional expansions or a longer-term program with expanded eligibility may be proposed.

This latest NJ ZIP expansion is being funded using proceeds from New Jersey’s participation in the Regional Greenhouse Gas Initiative (RGGI), a multi-state “cap-and-trade” program regulating carbon dioxide emissions, that New Jersey was rejoined by Executive Order of Governor Murphy in 2019. More information about New Jersey’s plans for using RGGI funding is available https://www.nj.gov/rggi/index.htm l.

About the New Jersey Economic Development Authority

###

Please be advised that the Board Meeting of the New Jersey Economic Development Authority scheduled for Wednesday, January 12, 2022 is hereby cancelled. The next regularly scheduled meeting is Wednesday, February 9, 2022 at 10am.

The Members will convene to discuss and vote on matters 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 (February 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: www.njeda.gov.

TRENTON, N.J. (November 23, 2021) – Holiday shopping presents many opportunities to show your support for locally-owned businesses in New Jersey. With close to one million small businesses that call the Garden State their home, the support we show our small business owners during the holidays will have a more far-reaching effect than you may anticipate.

When you consider that according to the U.S. Small Business Administration, there are 937,436 small businesses in New Jersey that employ around 1.9 million people, which translates to half of all employees in the State, you can begin to understand the monetary impact small businesses bring to our economy. Three times more money returns to the local economy when you shop locally, while eating at locally-owned restaurants brings in two times more money, according to a series of independent-business impact studies conducted by Civic Economics, a consulting firm for local businesses.

To date, in line with Governor Phil Murphy’s vision for a strong recovery, the New Jersey Economic Development Authority (NJEDA) has approved 92,300 grants, loans, guarantees of loans, and technical assistance totaling nearly $667 million through COVID-19 relief programs. Of that, more than 77,790 grants totaling over $589 million have been awarded.

“In support of Governor Murphy’s goal of a stronger, fairer New Jersey economy, the NJEDA developed numerous programs and services to help our small businesses effectively navigate the economic difficulties caused by the pandemic,” said NJEDA Chief Executive Officer Tim Sullivan. “When small business owners have the local support, on top of any federal or state resources they might be eligible for, the light at the end of the tunnel becomes much brighter, not just for that business, but for the entire community.”

Sullivan added that in order to ensure equitable and inclusive distribution of support, one-third of grant funding approved has been for businesses in the 715 census tracts deemed eligible for consideration as Opportunity Zones.

“Minority- and women-owned businesses were impacted particularly hard by the pandemic, and the holidays are a great time to show our support,” said NJEDA’s Chief Diversity and Inclusion Officer Michelle Bodden. “COVID-19 exacerbated the existing challenges faced by businesses owned by people of color, and an equitable and successful recovery is imperative to the economic future of all New Jersey families.”

Bodden noted that outreach efforts for almost all the Authority’s COVID-19 relief programs targeted minority- and women-owned businesses as well as businesses in historically marginalized communities. As a result of these efforts, nearly 30 percent of the grant funding the NJEDA made available to COVID-19-impacted businesses went to women- and/or minority-owned small businesses.

Whether you decide to shop in one of your town’s many small businesses or opt to hit the road and visit your favorite New Jersey small-town vacation destination, shopping locally during Black Friday, Small Business Saturday and Cyber Monday will prove to be of vital importance to our local economies, as the money you spend at these brick-and-mortar, mom-and-pop shops, will in turn support the communities they serve in several ways.

When small business owners use their earnings to pay for the local products and services they need, that money continues to circulate within the community. By shopping local, you are not just supporting small business owners, you str also supporting their families, their employees and their employees’ families. Additionally, a portion of the taxes charged on your purchases helps fund local police and fire departments, build and improve your schools, and keep roads and bridges in good condition. Therefore, shopping locally also benefits local facilities and municipalities.

The NJEDA’s support for small businesses in the state has not been limited to financial relief program. The Authority has also provided funding to create the E-Commerce Technical Assistance program services to help businesses operate safely during the COVID-19 pandemic. In July of 2020, the Authority engaged the services of Hudson Integrated, Positive Solutions, and Suasion Communications Group to help businesses that normally rely on foot traffic and in-person transactions identify and implement the website and ecommerce capabilities they need to stay in business while complying with health guidelines and changing customer preferences. Through support from this program, more than 60 New Jersey businesses have pivoted to expand their online capabilities, which has helped them continue to serve their customers throughout the pandemic, and also capitalize on opportunities to reach more customers, such as Cyber Monday.

Another NJEDA program that has received high praise for the positive impact it’s had on struggling communities is Sustain and Serve NJ. The program provides eligible entities with grants of between $100,000 to $2 million to support the purchase of meals from New Jersey-based restaurants that have been negatively impacted by COVID-19. So far, $34 million has been awarded to 29 organizations throughout the state to partner with over 400 restaurants and meal delivery services in all 21 counties. Governor Murphy announced another $10 million for the program earlier this month. Sustain and Serve NJ is now on track to provide more than 4.5 million meals.

Some programs created under the Main Street Recovery Program, established under the New Jersey Economic Recovery Act of 2020 (ERA), signed into law by Governor Murphy on January 7, 2021, are designed to assist growing small businesses. This includes the recently-launched Small Business Lease Grant, which offers reimbursement of a percentage of annual lease payments to for profit businesses and non-profit organizations in eligible areas that plan to lease between 500 – 5,000 square feet of new or additional market-rate, first-floor office, industrial or retail space for a minimum five-year term. A sister program, the Small Business Improvement Grant, will offer reimbursement for costs associated with making building improvements or purchasing new furniture, fixtures and equipment.

The NJEDA’s Board also recently approved the creation of the Main Street Micro Business Loan, which will provide financing of up to $50,000 to eligible micro businesses in New Jersey with ten or fewer full-time employees and no greater than $1.5 million in annual revenues. The Program is the successor to the Micro Business Loan Program established by the NJEDA in 2019.

New Jersey keeps making huge strides in its efforts to attract entrepreneurs from all sectors of the economy who see the state as an ideal place to start a business. Trenton’s pro-business approach and a growing state economy have made this possible. Nevertheless, the support small business owners need to see their business thrive comes from members of its own community and this holiday season gives us all a great opportunity to show that support.

Our small businesses are counting on you this holiday season! Remember, #NJShopsLocal!

About the New Jersey Economic Development Authority

###

Program Will Offer up to $150,000 in grants to NJ Startups

TRENTON, N.J. (November 23, 2021) – The New Jersey Commission on Science, Innovation and Technology (CSIT) today announced the creation of a $1.5 million Catalyst Seed Research and Development (R&D) Grant Program to help New Jersey-based startups accelerate development of technologies. The funding will help the companies transform new discoveries from the research stage into commercially viable products and services. The application, which opens on December 6, will be available at http://www.njeda.gov/csit.

The Catalyst Seed R&D Grant Program will be open to companies conducting R&D or testing technologies in the following areas that were identified as targeted industries in Governor Phil Murphy’s economic development plan, “The State of Innovation: Building a Stronger and Fairer Economy in New Jersey: Advanced Manufacturing, Transportation and Logistics, Film and Digital Media, Life Sciences (including, but not limited to: therapeutic drug development, diagnostics, and medical devices), Non-Retail Food and Beverage, Finance and Professional Services, and Technology.

“The new Catalyst Seed R&D Grant Program will vastly expand the scope of projects and companies that CSIT is able to support,” said CSIT Executive Director Judith Sheft. “Providing seed capital to businesses in high-wage, high growth sectors is both beneficial to the individual entities and important to the strength of our overall innovation economy.”

The program will offer two grant components:

Grants of up to $150,000 for projects that are developing life sciences therapeutics. It is anticipated that five awards will be made in this area.
Grants of up to $75,000 for other innovation projects – non–life sciences therapeutics drug R&D projects and projects that are not eligible for the Clean Tech Seed Grant. It is anticipated that 10 awards will be made in this area.

Sheft noted that the Catalyst Seed R&D Program is modeled after CSIT’s successful Clean Tech R&D Seed Grant Program, which awarded nearly $750,000 to startups statewide earlier this year. CSIT anticipates opening a second round of its Clean Tech Seed Grant program in early 2022. Therefore, companies that are working on research regarding the avoidance of emissions of, or recapture, greenhouse gases and/or criteria pollutants, or to enable such avoidance or recapture, will not be eligible to participate in the Catalyst Seed R&D Grant Program.

Applications for the Catalyst Seed R&D Grant Program will open on December 6, 2021. CSIT will host an information webinar on December 7, 2021 at 10:00 a.m., which will include a walk-through of the application. Anyone interested in attending can visit http://tinyurl.com/NJCSIT to register. A recording of the webinar will also be available on CSIT’s website. Entrepreneurs can also get information about this and other programs designed to help their early-stage companies grow during the NJEDA’s November 30 Innovation Economy Programs webinar. Attendees can register for the event at http://tinyurl.com/NJ-Innovation.

“Under Governor Murphy’s leadership, New Jersey is receiving national and international attention as an excellent place to locate and grow a startup,” NJEDA Chief Executive Officer Tim Sullivan said. “The Catalyst Seed R&D Grant Program will be an important tool for helping us continue to foster an environment where these startups can succeed and thrive.”

Applicants for the Catalyst Seed R&D Grant Program will be required to demonstrate at least one of the following for their projects in order to be eligible for funding: description of the proof of concept results, published paper outlining results achieved, successful completion of a federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grant or contract related to the project, and/or confirmation documentation from a university tech transfer office if the project relates to technology that has been developed at a university. Complete eligibility requirements can be found at http://www.njeda.gov/csit.

In support of CSIT’s mission to foster diversity and inclusion, one grant award will be reserved for an applicant meeting the minimum scoring criteria of 70 points that is women-owned as certified by the State of New Jersey and one grant award will be reserved for an applicant meeting the minimum scoring criteria of 70 points that is minority-owned as certified by the State of New Jersey. If there are no applicants that meet these criteria the funds may be allocated to other applicants.

In their roles on the CSIT Board, New Jersey State Senator Robert Singer and Assemblyman Andrew Zwicker have been vocal champions of creating resources such as the Catalyst Seed R&D Program to support New Jersey startups.

“Access to seed capital is among the most vital tools for very young companies that are often too early-stage to attract outside capital,” Senator Singer said. “Giving them that access now will pay dividends for our innovation ecosystem in the future.”

“New Jersey startups already have a tremendous number of assets available to them – including proximity to world-class universities, a top-notch talent pool, and a supportive innovation ecosystem,” Assemblyman Andrew Zwicker said. “Adding the Catalyst Seed R&D Grant Program to the suite of resources that CSIT offers startup companies will further Governor Murphy’s goal vision of making New Jersey the nation’s premier hub for innovative, science-and-technology focused entrepreneurism.”

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 https://www.njeda.gov/csit or follow @NewJerseyEDA on Twitter, Facebook, LinkedIn and Instagram.

###

TRENTON, N.J. (November 17, 2021) – The New Jersey Economic Development Authority (NJEDA) today released for public feedback updated rules for the Emerge Program as amended by P.L. 2021, c. 160. Members of the public are encouraged to review the preliminary rules and submit written feedback through an online form available on the Economic Recovery Act website.

The Emerge Program is New Jersey’s new job creation incentive program created under the ERA. Through the program, small and large businesses, as well as non-profits, can apply for tax credits to support projects that meet minimum capital investment, job creation or retention, and other requirements. To date, the NJEDA has approved two projects through the Emerge Program to support more than 3,500 good jobs.

The updated rules are the result of statutory changes made by P.L. 2021, c. 160. The draft amended rules will be available for public comment until December 1, 2021. Members of the public can review the rules and provide comment at https://www.njeda.gov/economicrecoveryact/program-specific-feedback/.

In addition to the Emerge 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

###

A meeting of the Commission of Science, Innovation and Technology (CSIT) Board has been scheduled for Friday, November 19, 2021 at 10:00 am.

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

+1 551-220-2262
Conference ID: 301 618 755#

Join Microsoft Teams Meeting