- The Economic Redevelopment and Growth (ERG) Program is an incentive for developers and businesses to address revenue gaps in development projects. It can also apply to projects that have a below market development margin or rate of return. The grant is not meant to be a substitute for conventional debt and equity financing, and applicants should generally have their primary debt financing in place before applying.
- The Emerge Program, created under the Economic Recovery Act (ERA) of 2020, encourages economic development in Governor Murphy’s priority sectors and in targeted communities across the New Jersey. The program provides per-job tax credits to projects that invest private capital into the state and create new good-paying jobs or retain a large number of good-paying jobs.
- The Brownfields Loan Program provides financing to potential brownfield site purchasers and current brownfield site owners (including local government redevelopers) that intend to develop commercial (including but not limited to manufacturing), retail, mixed-use developments, expansions or reuses. The program offers low-interest financing of $100,000 to $5 million for all aspects of brownfields revitalization projects, including assessment, investigation, and demolition. It is one of the only funding sources available to cover pre-construction planning, demolition, asbestos, PCB removal, and lead-based paint remediation.
- OSW Tax Credit is a powerful financial tool designed to spur private capital investment and employment growth in major, land-based offshore wind industry projects. The tax credit program provides reimbursement for capital investments in industry-specific facilities located in New Jersey.
- Film and Digital Media Tax Credit provides a transferable credit against the corporation business tax and the gross income tax for qualified expenses incurred for the production of certain film and digital media content in New Jersey. The goal of the program is to incentivize production companies to film and create digital media content in New Jersey.
- New Jersey Urban Enterprise Zone Program’s 32 UEZ zones located within 37 cities, several tax incentive benefits are available to businesses including: sales tax exemptions for purchase of specific items, corporation business tax credits for businesses hiring new employees, partial sales tax exemptions to sellers of most tangible, personal property within the zone, unemployment insurance tax benefits, and sales and use tax exemptions for the purchase of natural gas and electricity used by a manufacturer within a zone.
- Aspire is a gap financing tool to support commercial, mixed use, and residential real estate development projects that replaces the Economic Redevelopment and Growth Grant (ERG).
- New Jersey Economic Development Authority has a portfolio of loan, financing, and technical assistance programs available to support small and medium-sized businesses.
