Edwin J. Torres/NJ Governor’s Office
About the Economic Recovery Act
Governor Phil Murphy signed the New Jersey Economic Recovery Act of 2020 (ERA) into law on January 7, 2021. The ERA creates a package of tax incentive, financing, and grant programs that will address the ongoing economic impacts of the COVID-19 pandemic and build a stronger, fairer New Jersey economy.
Programs outlined in the law include:
- Tax credits to incentivize job creation and capital investment;
- Investment tools to support and strengthen New Jersey’s innovation economy;
- Tax credits to strengthen New Jersey’s communities including revitalization of brownfields and preservation of historic properties;
- Financial resources for small businesses, including those impacted by the COVID-19 pandemic;
- Support for new supermarkets and healthy food retailers in food desert communities;
- Additional tax credits for film and digital media.
Economic Recovery Act Programs
Angel Investor Tax Credit Program (ERA-update)
Brownfield Redevelopment Incentive (NEW)
Community-Anchored Development Program (NEW)
Economic Redevelopment and Growth (ERG) (ERA-update)
Food Desert Relief Program (NEW)
Historic Property Reinvestment Program (NEW)
Main Street Recovery Fund (NEW)
Net Operating Loss (NOL) Program (ERA-update)
NJ Film & Digital Media Tax Credit Program (ERA-update)
NJ Innovation Evergreen Fund (NEW)
Offshore Wind Tax Credit (ERA-update)
Personal Protective Equipment (“PPE”) Manufacturing Tax Credit (NEW)
AnticiPated UpComing PROGRAM LAUNCH DATES
| RESIDENTIAL ERG PROGRAM
CHECK BACK SOON:
| We will be posting additional anticipated launch dates in the coming weeks.
ARE YOU INTERESTED IN APPLYING TO THE EMERGE OR ERG PROGRAM IN THE NEXT FEW MONTHS?
The new Emerge and ERG program applications are expected to be available in late May 2021 and early June, respectively. If you are a potential applicant that may want to apply in the first few months of these programs, please complete this expression of interest form and we will have a member of our team reach out to you.
Economic Recovery Act Reform Provisions
The NJ Economic Recovery Act of 2020 contains meaningful reforms that will better position New Jersey to recover from economic crisis caused by the COVID-19 pandemic while remaining true to the Authority’s commitments to transparency and accountability.
Three ways you can provide FEEDBACK to how NJEDA sets up the ERA programs…
learn more and provide feedback
Provide general suggestions on one or more ERA programs prior to NJEDA releasing program-specific information.
You can use this website to provide thoughts on the ERA legislation and how NJEDA should implement the ERA programs.
learn more and provide feedback
Provide specific feedback on draft program regulations, before they are approved by NJEDA’s Board.
NJEDA will post additional draft ERA program regulations on this website for public input as they are developed.
Stayed tuned FOR FUTURE REGULATIONS
Provide formal public feedback on the proposed regulations approved by our Board.
All ERA programs will have a formal APA 60-day public comment period once proposed rules are published.