TRENTON, N.J. (12 de noviembre de 2021) – La Junta de la Autoridad para el desarrollo económico de New Jersey (NJEDA, por sus siglas en inglés) aprobó la creación del préstamo para microempresas Main Street, que proporcionará financiamiento de hasta $50,000 a las microempresas elegibles en New Jersey con diez empleados a tiempo completo o menos y no más de $1.5 millones en ingresos anuales.  El programa es el sucesor del programa de préstamos para microempresas establecido por la NJEDA en 2019.

El préstamo para microempresas Main Street es el producto más reciente del Fondo para recuperación Main Street—un conjunto de programas por $100 millones creados o ampliados en virtud de la Ley de recuperación económica de 2020 (ERA, por sus siglas en inglés), promulgada por el Gobernador Phil Murphy en enero de 2021.  La ERA incluye créditos fiscales para incentivar la creación de puestos de trabajo, nuevas construcciones y recuperación de áreas urbanas abandonadas y propiedades históricas; recursos financieros para pequeñas empresas; apoyo para nuevos supermercados y comerciantes minoristas de alimentos saludables en comunidades con escasez alimentaria; nuevas oportunidades de financiamiento para compañías de New Jersey que estén dando sus primeros pasos; y apoyo para la creciente industria del cine y los medios digitales.

“La economía de New Jersey depende de las pequeñas empresas en cuanto a los puestos de trabajo que proporcionan y el carácter único que aportan a nuestras comunidades, expresó el Gobernador de New Jersey, Phil Murphy. “A medida que salimos de la pandemia, debemos preparar el escenario para una recuperación más sólida y justa que cree oportunidades para las empresas que puedan haber quedado afuera anteriormente. El programa de préstamos para microempresas Main Street hace justamente eso al ayudar a las empresas más pequeñas a superar algunos de los obstáculos de larga data asociados al acceso al capital”. 

Con $20 millones en fondos asignados del Fondo para recuperación Main Street, el financiamiento que otorga el préstamo para microempresas Main Street cubrirá gastos operativos futuros como inventario, equipos (que no requieran instalación ni trabajo de construcción por un total de más de $1,999.99) y capital de trabajo para financiar los gastos operativos de la empresa. El préstamo tendrá un plazo estándar de 10 años, y la tasa de interés será del 2%, sin intereses ni pagos exigidos durante el primer año. 

“Las microempresas, que suelen estar dirigidas por mujeres y personas de color, son una parte esencial de la economía del estado, y una de las principales creadoras de puestos de trabajo. Lamentablemente, se enfrentan a menudo con desafíos desproporcionados a la hora de acceder a un financiamiento a bajo costo”, expresó el Director Ejecutivo de la NJEDA, Tim Sullivan. “En línea con la visión del Gobernador Murphy de una economía de New Jersey más justa, el programa de préstamos para microempresas Main Street garantizará que más empresas tengan acceso a los recursos que necesitan no solo para sobrevivir a los efectos económicos de la pandemia, sino también para recuperar su estabilidad económica y crear resiliencia para futuras dificultades económicas”.

A fin de garantizar que todas las áreas elegibles como Zonas de oportunidad en New Jersey reciban oportunidades de inversión equitativas e inclusivas, habrá $8 millones disponibles para apoyar a las empresas y entidades sin fines de lucro elegibles cuya ubicación comercial principal se encuentre dentro de las 715 áreas censales designadas elegibles para ser seleccionadas como una Zona de oportunidad.

Las microempresas sin fines de lucro, las con fines de lucro y las administradas desde el hogar interesadas en solicitar el préstamo para microempresas Main Street deben reunir los siguientes requisitos de elegibilidad:

  • Deben tener menos de $1.5 millones en ingresos brutos anuales durante el año fiscal más actual (en la medida en que la empresa tenga ingresos anuales).
  • No deben tener más de 10 empleados a tiempo completo.
  • Deben estar legalmente registradas para llevar a cabo actividades comerciales en New Jersey, con una ubicación comercial (aparte de la oficina en el hogar) en New Jersey.
  • Deben existir, según lo demuestre la fecha de constitución, y estar operativas durante, como mínimo, seis meses antes de la fecha en la que la solicitud se pone a disposición del público.
  • Deben estar debidamente acreditadas en el Departamento de Trabajo y Desarrollo de la Fuerza Laboral (LWD, por sus siglas en inglés) y el Departamento de Protección Ambiental de NJ en el momento de la solicitud para ser elegibles para un préstamo para microempresas.
  • Deben proporcionar un certificado actual de pago de impuestos antes de la aprobación para demostrar que el solicitante está debidamente registrado en la División Fiscal de NJ.

El préstamo para microempresas Main Street no exigirá garantía, ya que el criterio de suscripción será en función únicamente de la calificación crediticia. Solo las organizaciones sin fines de lucro deberán tener una suscripción completa, y se les exigirá cumplir con una tasa de cobertura del servicio de la deuda del 1.0. En el caso de todas las demás entidades con fines de lucro, al menos un propietario debe tener una calificación crediticia de 600 o más para ser considerado elegible.  Se exigirán garantías personales de todos los propietarios o directivos de las entidades con fines de lucro, pero no de las organizaciones sin fines de lucro.   

Además, los prestatarios del préstamo para microempresas Main Street pueden ser elegibles para la condonación del saldo del préstamo al final del quinto año. Para calificar para esta condonación, el solicitante debe estar al día con todos los pagos del préstamo, sin morosidad de más de 90 días y debe poder certificar que la empresa sigue abierta y en actividad comercial como se detalla en el contrato de préstamo. Asimismo, reconociendo las circunstancias económicas extraordinarias que hacen que este programa sea necesario, la NJEDA redujo el cargo por solicitud no reembolsable a $100 y un cargo por formalización de $400.

Las aplicaciones para el préstamo para microempresas Main Street se procesarán en el orden en que se reciban, según la fecha y la hora en las que la Autoridad recibe la aplicación completada. Aún se puede continuar con toda solicitud pendiente para el programa anterior de préstamos para microempresas a fin de concretar el préstamo. Los beneficiarios anteriores del programa de préstamos para microempresas son elegibles para solicitar el préstamo para microempresas Main Street.  Debido a los plazos favorables de este producto, solo se permite una solicitud por EIN.  

Para más información sobre el préstamo para microempresas Main Street, ingrese a https://www.njeda.gov/microbusinessloan/.

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 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. Mediante asociaciones con diversas partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de New Jersey.

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 y LinkedIn.

###

TRENTON, N.J. (November 10, 2021) – The New Jersey Economic Development Authority (NJEDA) today released for public feedback rules for the Net Operating Loss (NOL) Program as updated under the New Jersey Economic Recovery Act of 2020 (ERA) and P.L. 2021, c. 160, including new measures to support woman- and minority-owned businesses. 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.

“Governor Phil Murphy is committed to driving long-term economic growth in New Jersey by building the most diverse, inclusive innovation ecosystem in the nation,” said NJEDA Chief Executive Officer Tim Sullivan. “The NOL Program has a long history of success helping early-stage companies with the greatest growth potential launch and grow in New Jersey. The updated program rules released today will increase this important program’s impact and help us continue to grow New Jersey’s innovation economy.”

The NOL Program enables tech and life sciences companies to sell their New Jersey net operating losses and/or research and development (R&D) tax credits for cash. Buyers can purchase tax credits at a discount and apply them to reduce taxable income.

To date, more than $1.07 billion in funding has been distributed to over 550 technology and life sciences companies since the NOL Program’s inception in the late 1990s. In 2020, 49 companies were approved to sell a combined $54 million through the program. The average award for companies approved to sell their net operating losses through the program last year was $1.1 million.

The updated rules released today incorporate changes mandated in the ERA, including increasing the NOL Program’s annual cap from $60 million to $75 million and raising the lifetime cap for an individual company from $15 million to $20 million. The updated rules also expand the type of participating companies subject to the initial allocation to include companies located within an opportunity zone and certified woman- or minority-owned businesses.

Draft NOL Program rules will be available for public comment until November 24, 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 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 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

###

TRENTON, N.J. (November 10, 2021) – The New Jersey Economic Development Authority (NJEDA) Board today 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.

The Main Street Micro Business Loan is the newest product from the Main Street Recovery Fund—a $100 million suite of programs created or expanded under the Economic Recovery Act of 2020 (ERA), signed by Governor Phil Murphy in January 2021.  The ERA 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.

“New Jersey’s economy depends on small businesses for the jobs they provide and the unique character they bring to our communities, said New Jersey Governor Phil Murphy. “As we emerge from the pandemic, we need to set the stage for a stronger and fairer recovery that creates opportunities for businesses that may have been left out in the past. The Main Street Micro Business Loan Program does just that by helping the smallest of businesses overcome some of the longstanding hurdles associated with accessing capital.” 

With $20 million in funds allocated from the Main Street Recovery Fund, financing from the Main Street Micro Business Loan will cover future operating expenses such as inventory, equipment (that does not require installation or construction work totaling more than $1,999.99) and working capital to fund business operating expenses. The loan will have a standard 10-year term and the interest rate will be 2 percent, with no interest and no payments due for the first year. 

“Micro businesses, which are often led by women and people of color, are an essential part of the state’s economy, and a major creator of jobs. Unfortunately, they often face disproportionate challenges when it comes to accessing low-cost financing,” said NJEDA Chief Executive Officer Tim Sullivan. “In line with Governor Murphy’s vision for a stronger, fairer New Jersey economy, the Main Street Micro Business Loan Program will ensure more businesses have access to the resources they need to not only survive the economic effects of the pandemic, but to regain their economic stability and build their resilience to future economic disruptions.”

To help ensure all Opportunity Zone eligible tracts in New Jersey receive opportunities for investment that are equitable and inclusive, $8 million will be set aside to support eligible businesses and nonprofits with a primary business location within the 715 census tracts designated as eligible to be selected as an Opportunity Zone.

Nonprofit, for profit, and home-based micro businesses interested in applying for the Main Street Micro Business Loan must meet the following eligibility requirements:

  • Must have less than $1.5 million in annual gross revenue for the most current fiscal year (to the extent the business has annual revenues)
  • Must have no more than 10 full-time employees
  • Must be legally registered to do business in New Jersey, with a business location (other than a home office) in New Jersey
  • Must be in existence, as evidenced by date of formation/incorporation, and in operation for at least six months prior to the date of application being made publicly available
  • Must be in good standing with the New Jersey Department of Labor and Workforce Development (LWD) and NJ Department of Environmental Protection at the time of application to be eligible for a micro business loan
  • Must provide a current tax clearance prior to approval to demonstrate the applicant is in good standing with the NJ Division of Taxation.

The Main Street Micro Business Loan will not require collateral, as the underwriting criteria will be based solely on credit score. Only not-profit organizations will need to be fully underwritten and required to meet a 1.0 debt service coverage ratio. For all other for-profit entities, at least one owner must have a credit score of 600 or greater to be considered eligible.  Personal guarantees of all owners or principals will be required of for-profit entities, but not from nonprofit organizations.   

Additionally, borrowers under the Main Street Micro Business Loan may be eligible for the balance of the loan to be forgiven at the end of the fifth year. To qualify for this forgiveness, the applicant must be current on all loan payments with no delinquency of more than 90 days and must be able to certify that they are still open and operating as detailed in the loan agreement. Furthermore, recognizing the extraordinary economic circumstances that make this program necessary, the NJEDA reduced the non-refundable application fee to $100 and a closing fee of $400.

Applications for the Main Street Micro Business Loan will be reviewed on a first-come, first-served basis, based on the date/time at which the Authority receives the completed application. Any pending applications to the prior Micro Business Loan Program can still proceed toward closing on their loan. Past recipients of the Micro Business Loan Program are eligible to apply for the Main Street Micro Business Loan.  Due to the favorable terms of this product only one application per EIN is allowed.  

For more information about the Main Street Micro Business Loan, go to https://www.njeda.gov/microbusinessloan/.

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.

###

TRENTON, N.J. (November 10, 2021) – The New Jersey Economic Development Authority Board today approved rules for the Aspire Program, a place-based economic development program created under the New Jersey Economic Recovery Act of 2020 (ERA) that supports mixed use, transit-oriented development by providing tax credits to commercial and residential real estate development projects that have financing gaps.

As authorized by the ERA, the Board approved rules that will be effective immediately for a short-term duration, enabling the NJEDA to move forward with instituting the program this year. Concurrently, the Board also approved publishing the rules for public comment prior to adopting longer-term rules.

“New Jersey’s economy is growing, and with economic growth comes the need for housing and commercial development,” said Governor Phil Murphy. “The Aspire Program is a much-needed incentive that will support the construction of new housing and commercial projects throughout the state, with an emphasis on communities that have been left out of growth in the past.”

“Supporting equitable development and growth that aligns with communities’ priorities is central to Governor Murphy’s economic plan,” said NJEDA Chief Executive Officer Tim Sullivan. “The Aspire Program rules approved today establish the framework for a robust policy that will support much-needed mixed use, transit-oriented development in communities all around New Jersey. Importantly, these rules also build in much-needed safeguards to ensure transparency, accountability, and fiscal responsibility. This is an important step forward for New Jersey that will drive sustainable, inclusive growth.”

“The Aspire Program rules that were approved today will facilitate the development of transformative mixed-income, mixed-use projects that will promote housing opportunity and economic growth throughout our state,” said NJHMFA Executive Director Melanie R. Walter. “We look forward to working with community and development partners to implement these rules, seamlessly combining Aspire and Low-Income Housing Tax Credits, from the NJEDA and HMFA, respectively, and leveraging these valuable resources to produce high-impact, high-quality development that benefits our residents.”

The Aspire Program is part of the suite of programs created under the ERA to address the ongoing economic impacts of the COVID-19 pandemic and build a stronger, fairer New Jersey economy. The Board action taken today approved special adoption rules for the Aspire Program, which will go into effect immediately upon filing with the Office of Administrative Law and will remain in effect for 180 days. During this time, the NJEDA will propose the same rules as long-term rules and undertake the Administrative Procedures Act required 60-day public comment process. This dual track approach, authorized by the ERA, will allow the Authority to begin accepting applications near the end of this calendar year, when Aspire’s predecessor program, the Economic Redevelopment and Growth (ERG) Program, sunsets.

In line with the Murphy Administration’s Executive Order 63 and the NJEDA’s commitment to transparency and accountability, and in anticipation of today’s vote, the NJEDA publicly posted a draft copy of the Aspire Program proposed rules several weeks ago and actively sought public feedback. This feedback process included two public listening sessions, an opportunity to submit written overall programmatic comments, and a channel to submit detailed feedback on the proposed rules.

The Aspire Program encourages mixed use, transit-oriented development in New Jersey by providing tax credits to commercial and residential development projects that have a financing gap. The amount of tax credits a project is eligible to receive is a percentage of the project’s eligible costs, subject to a cap that is determined by the project’s location, other financing available, and other aspects of the project. Most projects are eligible for tax credits up to $42 million, but projects that meet specific criteria may receive tax credits up to $60 million. Projects that qualify as “transformative projects” may receive tax credits up to $350 million.

To be eligible for Aspire Program tax credits, a project must be located in an eligible incentive location, which may include: Planning Area 1, Aviation District, Port District, or Planning Area 2 or other Designated Center that is within a half mile of a rail transit station or a high frequency bus stop. Film production projects may be located anywhere in the State.

Projects must also meet minimum size and cost thresholds. Commercial projects must include at least 100,000 square feet of retail or commercial space. Residential projects must have eligible project costs totaling $5 million to $17.5 million depending on location.

Projects that meet certain parameters can qualify as “transformative projects” and receive tax credits above and beyond the caps that are established for standard projects. Transformative projects must have eligible costs of at least $100 million and be at least 500,000 square feet or up to 250,000 square feet for film studio projects. Transformative projects must also demonstrate special economic importance to New Jersey and leverage New Jersey’s mass transit assets, higher education assets, and other economic development assets to attract or retain employers and skilled workers.

In addition to meeting these baseline eligibility requirements, the developer of a project seeking Aspire Program tax credits must be in substantial good standing with the New Jersey Department of Labor and Workforce Development (DOL), the New Jersey Department of Environmental Protection (DEP), and the Department of the Treasury. Projects must also comply with environmental laws (including flood hazard requirements), meet green building requirements, and pay prevailing wages to construction workers and building service workers. Retail, warehouse, and/or hospitality establishments with a certain number of employees that are included in projects with a State proprietary interest and that receive tax credits must enter into a labor harmony agreement with a labor organization or cooperating labor organizations that represent relevant employees in the State.

In line with Governor Murphy and the NJEDA’s commitment to fiscal responsibility and transparency, the Aspire Program rules include provisions, such as a gap financing review, excess revenue sharing requirements, and a net positive economic benefit test for most projects, to ensure tax credits are awarded responsibly.

Collectively, projects under the Aspire Program and the Emerge Program – a separate ERA tax incentive program focused on attracting high-quality jobs to New Jersey – are subject to a program cap of $1.1 billion per year in tax credit awards for each of the first six years of the programs, with the cap split between northern and southern counties. Unused amounts may be carried forward each year, and any remaining unused tax credits are available in the seventh year.

The Aspire Program rules also include requirements to ensure that communities where projects are located participate in and benefit from the economic growth the project generates. As part of the application for projects, applicants must provide a letter of support from the governing body of the municipality or municipalities in which the project is located and projects with an eligible project cost equaling or exceeding $10 million must also enter into a Community Benefits Agreement with the Authority and municipality or county in which the project is located.

Furthermore, projects including newly constructed residential units must set aside at least 20 percent for occupancy by low- and moderate-income households. The NJEDA will build on the coordination and collaboration practices with the New Jersey Housing and Mortgage Finance Agency (NJHMFA) that were established under the ERG program to ensure that Aspire projects with affordable housing components comply with housing rules and meet the housing needs of New Jersey’s growing work force.

In addition to the Aspire 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. More information about these programs is available at https://njeda.com/economicrecoveryact.

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 Capital City Redevelopment Corporation Special Board Meeting is scheduled for 1:00 pm, Friday, November 12, 2021.  The Members will convene via conference call only.

Members of the public whom wish to speak during the public comment segment of the meeting, pertaining to agenda items, may call into the meeting by using the following conference number:

Teleconference #:
1-551-220-2262

Access Code: 801 507 871#

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

TRENTON, N.J. (5 de noviembre de 2021) – La Autoridad para el Desarrollo Económico de New Jersey (NJEDA, por sus siglas en inglés) anunció hoy que ofrecerá un taller virtual para brindar información sobre cómo obtener y mantener los documentos necesarios de los departamentos del estado. El taller “Navegación de Departamentos Estatales” se llevará a cabo a las 11:00 a.m. del 9 de noviembre de 2021 y conectará a los propietarios de negocios con las personas y la información que necesitan para iniciar y mantener su negocio a largo plazo.

Esta es una gran oportunidad para que las pequeñas empresas, las nuevas empresas y las organizaciones sin fines de lucro de New Jersey aprendan a navegar adecuadamente los numerosos programas y servicios que ofrecen las entidades estatales, incluyendo cómo registrar correctamente una empresa en Nueva Jersey; cómo obtener un certificado de liquidación de impuestos; cómo certificar una empresa como propiedad de mujeres, minorías o veteranos; y formas de acceder a asistencia técnica gratuita disponible, recursos federales y oportunidades de tutoría, entre otros temas relevantes.

Representantes de la División de Impuestos de New Jersey, el Departamento del Tesoro de New Jersey, el Centro de Acción Empresarial de New Jersey (BAC, por sus siglas en inglés) y el Equipo de Capital de los Centros de Desarrollo de Pequeñas Empresas de New Jersey (NJSBDC, por sus siglas en inglés) ofrecerán su experiencia para brindarle toda la información necesaria que necesita para ver crecer su negocio en el Estado Jardín.

El taller virtual comenzará a las 11:00 a.m. del martes 9 de noviembre de 2021. Los dueños de pequeñas empresas interesados en participar pueden registrarse en: https://njeda.zoom.us/webinar/register/WN_nFgemN59QrCDt9R9ZiNW6Q

Puede encontrar información adicional sobre este taller virtual en https://www.njeda.gov/events/.

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 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. Mediante asociaciones con diversas partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de New Jersey.

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 y LinkedIn.

###

Please be advised that a telephonic meeting of the New Jersey Economic Development Authority is scheduled for 10:00 AM, Wednesday, November 10, 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 (November 10, 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. (November 3, 2021) – The New Jersey Economic Development Authority (NJEDA) announced today that it will host a virtual workshop to provide information on how to obtain and maintain the necessary documents from state departments. The ‘Navigating State Departments’ Workshop will be held at 11:00 a.m. on November 9th, 2021 and will connect business owners with the people and information they need to start and maintain their business long-term.

This is a great opportunity for New Jersey’s small businesses, startups, and nonprofits to learn how to properly navigate the numerous programs and services offered by State entities, such as how to properly register a business in New Jersey; how to obtain a tax clearance certificate; how to certify a business as women-, minority-, or veteran-owned; and ways to access free available technical assistance, federal resources, and mentorship opportunities, among other relevant topics.

Representatives from the New Jersey Division of Taxation, the New Jersey Department of Treasury, the New Jersey Business Action Center (BAC) and the New Jersey Small Business Development Centers (SBDC) Capital Team will offer their expertise to provide you with all the necessary information you need to see your business grow in the Garden State!

The virtual workshop will start at 11:00 a.m. on Tuesday, November 9th, 2021. Businesses owners interested in participating can register at: https://njeda.zoom.us/webinar/register/WN_nFgemN59QrCDt9R9ZiNW6Q

Additional information about this virtual workshop can be found at https://www.njeda.gov/events/.

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.

###

WASHINGTON, D.C. (November 1, 2021) – The New Jersey Wind Port has been awarded the “Strategic Infrastructure Project of the Year” award at CG/LA Infrastructure’s 13th Annual North America Infrastructure Leadership Forum. This award, together with the significant interest from global companies in leasing space at the Wind Port, confirms the offshore wind industry’s strong and sustained interest in partnering with the State to turn New Jersey into an internationally recognized offshore wind hub that will drive economic growth and job creation for decades to come.

“The New Jersey Wind Port is a transformative project that will provide immediate environmental and economic benefits and set New Jersey on a path to a more sustainable and prosperous future,” said Governor Phil Murphy. “This award and the demonstrable interest the wind industry has already shown in the project once again confirm New Jersey as the capital of offshore wind in the United States.”

“The New Jersey Wind Port is a forward-thinking project that will move us closer to Governor Murphy’s vision for a stronger, fairer New Jersey and cement New Jersey’s position as the U.S. capital of offshore wind,” said New Jersey Economic Development Authority (NJEDA) Chief Executive Officer Tim Sullivan. “The Strategic Infrastructure Project of the Year award recognizes this project’s transformative potential, and the significant interest from global leaders in the wind industry shows that our strategy for growing this industry in New Jersey is working.”

“CG/LA Infrastructure is honored to present the NJEDA with 2021 Strategic Project of the Year Award for the New Jersey Wind Port. With 55% of the vote, the project was selected over the SOO Green HVDC Link, the Northeast Maglev, and Clean Path NY, which were each nominated from the 2021 North American Strategic100 Top Infrastructure Projects List. As the first greenfield offshore wind port in the US under construction and given the project’s strategic place in the nascent industry’s supply chain, we celebrate the project’s milestones thus far and look forward to celebrating future phases of development!” said Colin Whelan, Director of Projects, CG/LA Infrastructure.

Offshore wind 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.

The New Jersey Wind Port is 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. At full build-out, the Wind Port has the potential to create up to 1,500 manufacturing, assembly, and operations jobs and drive billions of dollars in economic growth.

The NJEDA recently announced that six leading offshore wind developers and manufacturers have submitted 16 non-binding offers to sublease space at the Wind Port that NJEDA staff have preliminarily determined to be compliant. All bidders put in multiple offers encompassing different parcels, project configurations, and levels of investments.

CG/LA Infrastructure is the authority on infrastructure strategy and project development. Headquartered in Washington, D.C., CG/LA advises senior-level leaders, policymakers, investors, and infrastructure project developers from more than 20 countries across the public-private spectrum. The North America Strategic Infrastructure Leadership Forum is a two-day conference featuring more than fifty infrastructure projects and 500 infrastructure executives. The forum is not sector-specific and features projects from highways and bridges to urban mass transit and energy.

More information about the New Jersey Wind Port is available at https://nj.gov/windport.

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.

###

TRENTON, N.J. (October 28, 2021) – The New Jersey Economic Development Authority (NJEDA) has received 16 non-binding offers to become tenants at the New Jersey Wind Port from six of the largest turbine manufacturers and offshore wind developers in the world. The offers were made in response to a recent Notice for Sublease of Property. This solicitation result confirms the offshore wind industry’s strong and sustained interest in partnering with the State to turn the New Jersey Wind Port into an internationally recognized offshore wind hub that will drive economic growth and job creation in South Jersey and throughout the Garden State.

“The New Jersey Wind Port is a game-changing investment that establishes New Jersey as the capital of offshore wind in the United States,” said Governor Phil Murphy, “The overwhelming response to this early opportunity to lease space at the Wind Port from the biggest global players in offshore wind shows that we are already well on our way to achieving this vision and driving economic growth that firmly aligns with our environmental goals.”

“I am not surprised that many of the most successful offshore wind manufacturers and developers in the world want to join us in this project,” said Senate President Steve Sweeney. “We have captured the world’s attention with a Wind Port that will be the nation’s first onshore site built with the purpose of servicing an offshore wind industry. It will position South Jersey at the epicenter of the emerging industry for wind farms off the Jersey Shore and along the entire Atlantic Seaboard. The economic benefits will be significant and long lasting. This project will create hundreds of construction jobs, support thousands of ancillary jobs, and generate $500 million in annual economic activity. It didn’t happen by accident. This is the realization of a vision that has been more than a decade in the making, going back to our Offshore Wind Economic Development Act of 2010. It was an investment in New Jersey’s future that capitalized on our strengths, including a highly skilled workforce and an effective transportation infrastructure, and our willingness to invest in the evolving clean energy sector.  It is an investment in New Jersey’s future that will put our state in the forefront of a new industry that will offer expanding opportunities for generations to come.”

“We have taken significant steps to competitively and sustainably position New Jersey for the economy of the future,” said Assembly Speaker Craig J. Coughlin. “Our state’s commitment to clean, renewable energy with our investment in offshore wind is just one key example of this bold and ambitious leadership. News from the NJEDA of several global leaders in offshore wind bidding to develop our nation’s largest port makes it is clear New Jersey has captured the world’s attention, and with that we are confident we will move forward with a development plan that best prioritizes the interests of our diverse communities.”

“I am pleased that so many offshore wind energy companies – including some of the largest in the world – have expressed interest in the New Jersey Wind Port,” said Assemblyman John Burzichelli. “With fewer restrictions and greater access to various wind markets, this site is perfectly positioned to serve as a hub for America’s offshore wind industry. Our efforts to establish this port will lead to the creation of hundreds of new jobs and will advance our state toward a clean energy future.”

“Not only will this port help our state achieve its clean energy goals, it will also help increase the use of offshore wind throughout the rest of the world,” said Assemblyman Adam Taliaferro. “The interest in the New Jersey Wind Port goes to show just how critical it will be in expanding the offshore wind industry. Enabling environmentally-friendly energy sources while creating good-paying, union jobs is a win-win for our region, and I look forward to seeing this project continue to advance.”

“The New Jersey Wind Port is a critical piece of Governor Murphy’s plan to curb the effects of climate change and set New Jersey on the path to long-term, sustainable economic growth,” said NJEDA Chief Executive Officer Tim Sullivan. “The significant interest we are seeing in the Port from many of the world’s largest offshore wind businesses validates our expectation that building this unique infrastructure resource would attract the attention of the global industry and establish New Jersey as a leader in the U.S. offshore wind industry. Going forward, this will drive investment and job creation in South Jersey and throughout the state.”

“Offshore wind is a major component of New Jersey’s Energy Master Plan and a pillar of the Governor’s plan to achieve 100 percent clean energy,” said New Jersey Board of Public Utilities President Joseph L. Fiordaliso. “The development of the New Jersey Wind Port with manufacturing and marshalling facilities will lead to lowering the cost of offshore wind. The interest from leading offshore wind companies in the New Jersey Wind Port shows the critical role this infrastructure project will play in attracting offshore wind projects to New Jersey and provides strong evidence that Governor Murphy’s strategy for attracting offshore wind investment is working.”

“The interest we are seeing in the New Jersey Wind Port demonstrates that we do not have to choose between addressing climate change and creating jobs,” said Jane Cohen, Executive Director, Office of Climate Action and the Green Economy. “Through this project and Governor Murphy’s other efforts to combat climate change, we can drive economic growth, strengthen our workforce, and create family sustaining jobs for all New Jerseyans who want to be in involved in the green economy.”

Offshore wind 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.

The New Jersey Wind Port is 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. At full build-out, the Wind Port has the potential to create up to 1,500 manufacturing, assembly, and operations jobs and drive billions of dollars in economic growth.

On September 29th, 2021, the NJEDA posted a Notice for Sublease of Property at the New Jersey Wind Port seeking non-binding offers from offshore wind developers and component manufacturers on four parcels of property at the Port, including two parcels of property that are being purpose-built for offshore wind marshalling, staging, and final assembly of turbines; and two parcels that are being purpose-built for offshore wind turbine component manufacturing and assembly. The deadline for submissions was Friday, October 22nd, 2021.

Six bidders submitted 16 non-binding offers that NJEDA staff have preliminarily determined to be compliant. All bidders put in multiple offers encompassing different parcels, project configurations, and levels of investments. Compliant bidders included offshore wind developers and manufacturers.   

Atlantic Shores Offshore Wind, LLC (Atlantic Shores), Ørsted Wind Power North America LLC (Ørsted), and Beacon Wind LLC (Beacon Wind) are offshore wind developers that submitted offers for Parcels A and B1, which are being purpose-built for offshore wind marshalling, staging, and final assembly of turbines.

All are major players in the US offshore wind industry with projects ranging from Massachusetts to Maryland and have parent organizations with global offshore wind portfolios. The New Jersey Board of Public Utilities (NJBPU) has awarded more than 3,700 MW of offshore wind projects to Ørsted and Atlantic Shores, a 50:50 joint venture between Shell New Energies and EDF Renewables. Beacon Wind, a 50:50 joint venture between Equinor and bp, has been awarded projects by New York State.

GE Renewables US LLC (GE), Siemens Gamesa Renewable Energy Inc. (SGRE), and Vestas-American Wind Technology, Inc. (Vestas) are the three largest offshore wind turbine manufacturers in Europe and the United States. All three have submitted bids for both Parcels C and G, the two manufacturing parcels available at the Wind Port.

Sixteen offers have been preliminarily determined by Authority staff to be compliant with the solicitation’s requirements and will be scored in the coming days. After scoring is completed, the Authority anticipates beginning negotiations with some or all of the parties with compliant bids. The NJEDA Board will review and determine final compliance determinations, scoring, and approval of binding offers and subleases on a parcel-by-parcel basis in months to come, after the Authority completes negotiations. 

More information about the New Jersey Wind Port is available at https://nj.gov/windport.

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.

###