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NJEDA Food Desert Relief Tax Credit Auction Info Session
Through the Food Desert Relief Tax Credit Auction, the New Jersey Economic Development Authority (NJEDA) will offer state tax credits to eligible bidders in 2023 to raise funds for programs under the Food Desert Relief Act. The auction allows corporations and insurance companies with New Jersey tax liability to bid for tax credits at a discount of up to 15 percent. Proceeds from the auction will support programs focused on New Jersey's designated Food Desert Communities, which are home to more than 1.5 million New Jerseyans across all 21 counties. These programs could include providing grants and loans to food retailers for equipment costs associated with providing nutritious food, offering technical assistance on best practices for increasing access to nutritious foods, and supporting other efforts to alleviate food insecurity. This webinar will explain the structure, eligibility criteria, application requirements, and bid review process for this auction. Staff from the NJEDA's Economic Security team will give an overview of how this auction fits into NJEDA's work on food security, summarize eligibility criteria, share details on deposits and bids, explain the program timeline, and bid review process, and offer a step-by-step walk-through of the online application. The webinar will conclude with a Question & Answer session. More information about the Food Desert Relief Tax Credit Auction is available at https://www.njeda.gov/food-desert-relief-program/. Questions may be submitted to FDRTCAuction@NJEDA.gov.
NJEDA Brownfields Redevelopment Incentive Program Information Session
Applications for the NJEDA Brownfields Redevelopment Incentive Program will be available on-line soon. This program offers a one-time transferable tax credit for environmental remediation, abatement, ...