Financing & Incentives - Urban Redevelopment
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The New Jersey Economic Development Authority (EDA) offers powerful resources to spur economic development and self-sufficiency in New Jersey’s urban areas. With lower borrowing costs and the capability of bridging financing gaps for municipalities, developers, businesses, and community groups in urban areas, the EDA is a flexible and effective business partner.

Some examples of the types of projects the EDA can assist include:

  • Infrastructure development
  • Utilities
  • Demolition
  • Brownfield remediation
  • Community centers and gardens
  • Streetscape and signage
  • Facade restoration
  • Landscape amenities

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

Why Do You Need Financing? Here's What the EDA Can Offer*:
To build or renovate a building, or construct a new building
  • Loans up to $750,000; loan guarantees up to $1.5 million
  • Grants and loans for brownfields and portfields investigation and cleanup
  • Tax-exempt bond financing, starting at $500,000
To encourage community growth of an urban area in need of reinvigoration
  • Grants and loans for brownfields investigation and cleanup
  • Loans up to $2, $3, or $10 million with favorable rates to businesses in specific urban areas
  • Tax-exempt bond financing, starting at $500,000
  • Loans and guarantees of up to $500,000 to urban-based community organizations that, in turn, make loans to micro-enterprises that don't qualify for traditional bank financing
  • Funding for up to $50,000 for feasibility studies for real estate development projects
To attract businesses to move to or start up in a low income community
  • Tax credits issued to investors to ensure a return on investment
  • Below-market equity investment capital, commercial loans for businesses and developers
To refurbish or restore a contaminated area to a marketable condition
  • Loans, grants, and matching grants to public, private, and not-for-profit entities for the investigation and/or remediation of known or suspected contaminated sites
To boost commercial real estate development
  • Short-term financing and loan guarantees of up to $1 million for pre-development site preparation (non-contamination related), including land assemblage, demolition, removal of debris and engineering costs
To make it attractive and affordable for businesses to move into or start up in our area
  • Incentive grants for companies creating at least 25 new jobs in New Jersey (10 if in targeted technology or biotechnology industries)
  • Tax-exempt bond financing, starting at $500,000

*All EDA offerings are subject to change, carry restrictions and require certain qualifications.

To learn more about the EDA’s offerings for urban redevelopment, click here.