Please note: The InvestNJ funding limit has been reached.  All applicants will now be placed on a waiting list.      

This program provides new capital investment and employment grants to help expand and improve New Jersey’s economic and job growth and business retention capabilities during a challenging economic period.  InvestNJ offers incentives under two separate components: Job Creation and Capital Investment.  Companies may benefit from either component, or a combination of the two.

Applications must be submitted prior to January 1, 2011, and funding is provided on a first-come, first-served basis

IF YOU ARE: A business in operation for at least two years that employs at least 5 full-time employees

YOU CAN APPLY FOR: A grant for the creation of new jobs and/or a grant for capital investment

IN THE AMOUNT OF:

Job Creation

• A $3,000 grant per each new full-time job created (up to $500,000 per applicant)

Capital Investment

• A grant of 7% for a qualified capital investment (up to $1 million per applicant)

PROGRAM DETAILS:

To qualify for the Job Creation grant, a company must meet the following criteria:

• Have been operating continuously in New Jersey for at least the prior two years
• Currently employ at least 5 full-time employees
• Eligible positions must be covered under the company's group health plan
• Create an eligible position and maintain a net increase in jobs over a 12-month period
• Positions benefiting from the Business Employment Incentive Program (BEIP), Business Retention and Relocation Assistance Grant (BRRAG) Program or Urban Transit Hub Tax Credit are not eligible for grants under the program.

An eligible position means a full-time position, filled by an individual whose wages are subject to withholdings as provided in the “New Jersey Gross Income Tax Act.”  Eligible positions are further defined as those covered under the requesting company’s group health plan.  Eligible positions will be those created after December 1, 2008 and before January 1, 2011, for a period of 12 consecutive months.  Independent contractors and consultants are not considered eligible positions.

To qualify for the Capital Investment grant, a company must meet the following criteria:

• Have been operating continuously for at least the prior two years
• Currently employ at least 5 full-time employees
• Make a capital investment in New Jersey after December 9, 2008, but before January 1, 2011
• Will maintain the capital investment in New Jersey for one year 
• Companies currently benefiting from the BEIP, BRRAG, Urban Transit Hub Tax Credit programs, or any retail sales purchase exemption (including, but not limited to, manufacturing equipment, research & development, farming, printing, solar, recycling, and Urban Enterprise Zone) at the site of the capital investment are not eligible for grants under the program.

An eligible capital investment means expenses of at least $5,000 incurred for the direct use and operation of a business.  This includes costs for site preparation and construction, renovation, improvement, equipping of, or obtaining and installing fixtures and machinery, apparatus or equipment.  Capital investments do not include soft costs such as financing or design, furniture or decorative items such as artwork or plants.  Capital investments also do not include any equipment with a useful life of less than 5 years, as defined by the Internal Revenue Code (IRC). 

Please note: construction projects will not be considered eligible if the construction permit for the phase of the project that will include the capital investments was received prior to the date of the Act, December 9, 2008. 

Equipment purchases will not be considered eligible if the equipment was ordered prior to the date of the Act, December 9, 2008.

To review Frequently Asked Questions on the program, click here.

If you would like to apply for the InvestNJ Business Grant Program, click here.

To access other relevant InvestNJ forms, please follow the links below:

•  InvestNJ Capital Investment Reporting Worksheet 
•  InvestNJ Employment Verification Worksheet 
•  Application for Tax Clearance 
•  Disqualification/Debarment Questionnaire 
•  InvestNJ Affirmative Action Certification 
•  InvestNJ Affirmative Action Completion Certificate 
•  Payroll Certification for Public Works Project

FEES*:

• Division of Taxation Tax Clearance Certificate Application Processing Fee: $75 for standard processing; $200 for expedited processing (response within 3 business days)  

For more information on the InvestNJ Business Grant Program, call 800-537-7397 or e-mail ServiceCenter@njeda.com.

*All fees are non-refundable.