NJEDA Expands Food Desert Relief Tax Credit Auction to $15M
TRENTON, N.J. (October 12, 2023) – The New Jersey Economic Development Authority (NJEDA) is increasing the amount of tax credits available to $15 million through the Food Desert Relief Tax Credit Auction. The proceeds of the auction will fund programs aimed to improve and increase access to healthy and affordable food throughout New Jersey’s 50 Food Desert Communities (FDCs).
WHAT: Due to robust response to the Food Desert Relief Tax Credit Auction, the NJEDA has raised the available auction pool from $10 million to $15 million. Eligible bidders must be New Jersey Corporation Business Tax or Insurance Premiums Tax filers. Companies can bid for tax credits at a discount of up to 15 percent.
Proceeds from the auction will be used to fund programs that will advance the priorities established by the Food Desert Relief Act (FDRA). These future grants, loans, and technical assistance initiatives will complement the Food Desert Relief Tax Credit Program, a tax credit program to support development and operation of new supermarkets in FDCs, by supporting small and mid-sized food retailers and other entities involved in strengthening food security.
WHEN: Applications will close on October 18 at 5:00 p.m.
December 1, 2023
NJEDA Issues Request for Expressions of Interest for New Jersey Green Fund Financial Support
TRENTON, N.J. (December 1, 2023) –The New Jersey Economic Development Authority (NJEDA) has issued a Request for Expressions of interest (“RFEI”) to identify specific sites, projects, or assets that are interested in financial support from its planned New Jersey Green Fund (“NJGF”).
November 28, 2023
NJEDA Opens the NJ Capital Access Fund
TRENTON, N.J. (November 28, 2023) – The New Jersey Economic Development Authority (NJEDA) today announced the opening of the NJ Capital Access Fund.
November 21, 2023
NJEDA’s $4M Innovative E-Commerce Program has Helped over 150 Small Businesses Expand Online Presence
TRENTON, N.J. (November 21, 2023) – Earlier this year, the New Jersey Economic Development Authority (NJEDA) launched a new $4 million pilot program that provides free e-commerce and digital marketing consulting services to New Jersey small businesses.