Financing & Incentives - Technology & Life Sciences

The New Jersey Economic Development Authority (EDA) is committed to nurturing the development of new technologies and ensuring that the State continues to be a leader in innovation. That’s why we offer a full range of programs and services to fuel the continuing growth of core industries vital to the State’s economy, including:

  • Technology
  • Life sciences
  • Clean energy
  • Information and communication technologies

So, whether you are an early-stage company, a research and development firm, a manufacturer, a service provider or other established life sciences or technology business, the EDA may have the financing, real estate development and technical assistance tools to meet your specialized needs.

Our efforts can provide businesses like yours with low-interest financing through bonds, loan participations/guarantees, grants, and tax incentives.

 

Depending on your business goals, the EDA may have a financial solution that can work for you.


 
What’s Your Business Financing Goal? What Your Company Looks Like Options That May Be Available
To raise growth capital and advance newly discovered energy efficiency, renewable energy or supply chain products in becoming competitive with traditional sources of electric generation  Technology company with Class I renewable energy or energy efficiency products or systems that has achieved "proof of concept", achieved successful independent beta results, and has begun generating commercial revenues 
To raise growth capital for my angel supported business  A C-Corporation with a minimum of $500,000 in trailing 12 month revenues
To raise growth capital for my venture capital (VC) supported business
A C-Corporation with a minimum of $500,000 in trailing 12 month revenues
To raise additional growth capital for my angel supported or venture capital (VC) supported business 
A C-Corporation with a minimum of $2 million in trailing 12 month revenues that has previously received assistance under the Edison Innovation Fund
  • Edison Innovation Growth Stars Fund 
  • To identify a manufacturing site, support site improvements, construct a facility, and/or purchase equipment
    A manufacturer of Class I renewable energy or energy efficiency systems, products or technologies
    To lease office space within New Jersey
    • An early-stage company looking to lease at least 800 square feet
    • A large company looking to lease up to 100,000 square feet

     

    To find or build a new home in New Jersey for my business A mature company with cash flow to support debt service

     

    To fund non-project specific costs An early-stage business with a collaborative partner within the state and has been approved for an Edison Innovation R&D Grant
    • Edison Innovation R&D Fund Wraparound
    To raise "less-dilutive" funding for my company (which has NOT YET reached a proof of concept stage)
    • Organized as a C corporation or an LLC
    • Has proprietary, protected intellectual property
    • Will add 10 high-paying jobs or has 75% of its employees in New Jersey
    • Willing and able to create high-skill, high-paying jobs in New Jersey
    • A full time management team with industry experience
    • Founders with financial investment in the company
    • The ability and willingness to leverage other sources of financing
    • Edison Innovation Commercialization Fund

     

    To finance manufacturing equipment with a lower cost of funds
    • A technology or life science manufacturer with less than $20 million in capital expenditures in the past 3 years
    • A commercially financable company with a relationship with a financial institution that is willing to purchase bonds

     

    Product Fees and Interest Rate Pricing:

    The EDA charges application and processing fees for its products, details of which are captured in the individual product information pages found on our website. 

    For its loan products, the EDA also charges a fixed or variable interest rate that has an interest rate floor for the specific product, and which is determined for individual loans at the time of closing using various other criteria. Interest rate floors utilize nationally recognized financial indices such as the 5 Year United States Treasury or the Prime Rate as published in the Wall Street Journal. For fixed and variable rates loans, adjustments will be made to the base rate and are calculated based on factors that involve the applicant's creditworthiness, project public policy criteria, including number of jobs to be created and the leveraging of total project costs to public dollars, and amortization. Please refer to product information pages for current interest rate floors.

     

    To learn more about the EDA’s offerings for technology and life science companies, click here.