In carrying out its mission to support business growth and stimulate investment in communities throughout New Jersey, the EDA maintains key alliances and partnerships with various departments and agencies.
New Jersey Partnership for Action
Created by Governor Christie and led by Lt. Governor Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the New Jersey Economic Development Authority (NJEDA). The Office of the Secretary of Higher Education has recently published a new blog featuring news and stories from 36 Colleges and Universities.
New Jersey Board of Public Utilities
The New Jersey Board of Public Utilities (BPU) is a regulatory authority with a statutory mandate to ensure safe, adequate and proper utility services at reasonable rates for customers in New Jersey. Accordingly, BPU regulates critical services such as natural gas, electricity, water and telecommunications and cable television. BPU addresses issues of consumer protection, energy reform, deregulation of energy and telecommunications services, and the restructuring of utility rates to encourage energy conservation and competitive pricing in the industry. BPU also has responsibility for monitoring utility service and responding to consumer complaints.
For more information about BPU, click here.
New Jersey Department of Environmental Protection
The EDA partners with the New Jersey Department of Environmental Protection (DEP) to administer the Hazardous Discharge Site Remediation Fund (HDSRF) and the Petroleum Underground Storage Tank Remediation, Upgrade and Closure Fund (PUST).
The HDSRF provides funding to public and qualifying private entities for the remediation of a suspected or known discharge of a hazardous substance or hazardous waste. The DEP evaluates an applicant's preliminary eligibility requirements and the estimated remediation costs. Upon the DEP’s recommendation for funding, the EDA evaluates an applicant’s financial status, determines grant and/or loan eligibility and awards funding.
The PUST Program provides loans and grants to eligible owners and operators of regulated and non-regulated petroleum underground storage tanks to help finance project costs for the upgrade and closure of State regulated underground storage tanks and remediation of discharges from regulated and non-regulated underground storage tanks.
For more information about DEP, click here.
New Jersey Department of Labor and Workforce Development
The New Jersey Department of Labor and Workforce Development (LWD) offers resources for employers, job seekers, career development, and more. The EDA collaborates with LWD on a variety of initiatives, including business attraction, recruiting, staffing support, and workforce requirements.
For more information about LWD, click here.
New Jersey Housing and Mortgage Financing Agency
For more than 30 years, the New Jersey Housing and Mortgage Finance Agency (HMFA) has worked with municipalities and developers across the state to provide financing and technical assistance for the development of affordable housing. In addition, HMFA is committed to advancing the work of not-for-profits and community organizations.
For more information about HMFA, click here.
The Port Authority of New York and New Jersey
The EDA and The Port Authority of New York and New Jersey have partnered on the Portfields Initiative designed to help private developers, communities and others transform underutilized and brownfield sites to productive properties. The initiative seeks to create new development sites and economic opportunities in the Port District within an approximate 25-mile radius of the Statue of Liberty to meet the fast-growing commercial cargo needs of the region.
The Portfields Initiative provides financial incentives, access to affordable capital, planning and other technical expertise, and coordination with state agencies for expedited project permitting and approvals to accelerate development.
For more information about Portfields, click here.
Urban Enterprise Zone Authority
Founded in 1983, the UEZ program was created to foster an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging businesses to develop and create private sector jobs through public and private investment. UEZ is administered by the New Jersey Department of Community Affairs, which collaborates with the EDA to implement the UEZ Energy Sales Tax Exemption Program.
For more information about UEZ, click here.
A statewide, not-for-profit economic development corporation dedicated to assisting and financing small businesses and minority- and women-owned enterprises. Access to capital is often a small business owner’s greatest challenge and UCEDC offers a variety of financing options when conventional lending sources are not available. With loans ranging from $500 to $5 million, including microloans, SBA 7a, and SBA 504 loans, UCEDC will work with start-up and established businesses to find the right financing solution.
For more information about UCEDC, click here.
New Jersey Small Business Development Centers
The New Jersey Small Business Development Centers (NJSBDC) network helps small businesses expand operations, manage growth or launch new ventures. With offices in every county of the state, NJSBDC consultants help small business owners finance, market and manage their ventures.
For more information about NJSBDC, click here.