Program Provides up to $125,000 to County and Local Governments to Develop Plans to Improve Food Security

Trenton, N.J. (September 26, 2022) – Today, the New Jersey Economic Development Authority (NJEDA) announced that it will open applications for its $1.5 million Food Security Planning Grant Program on Tuesday, September 27. This competitive program offers grants ranging from $75,000 to $125,000 to municipal governments, county governments, and redevelopment agencies to develop plans to improve food access and food security by leveraging distressed assets in New Jersey’s Food Desert Communities (FDCs). The application will be available at https://www.njeda.com/food-security-planning-grant/. All applications submitted by the deadline of November 25 will be reviewed after the application period has closed. 

Currently, more than one in 10 New Jersey households reports not having enough to eat within the past week. Additionally, out of the nearly nine million people who reside in New Jersey, approximately one million live in an NJEDA-designated FDC. Ensuring access to nutritious, affordable, and culturally relevant food is a key component in building a stronger and fairer New Jersey economy, as well as creating a sustainable local food system in every community.

The NJEDA will host information sessions for potential applicants (municipal governments, county governments and redevelopment agencies) to get an overview of the Food Security Planning Grant, a walk-through of the application, and information on how to best prepare to apply.

The information sessions will take place at the following times:

The Food Security Planning Grant Program is one tool that NJEDA will deploy to empower local governments to develop and submit plans to improve food access while transforming distressed assets that have presented a hindrance to economic growth. For the Food Security Planning Grant program, a distressed asset is defined as a commercial building or series of buildings, its attachments, and appurtenances; or vacant land that is fully or partially vacant for at least one year, that due to deteriorated condition or appearance of its exterior (because of deferred maintenance such as deteriorated paint or overgrown vegetation, boarded up door and/or windows), that can be leveraged to improve food access and food security. Distressed assets must be located within a New Jersey FDC, which can be mapped here.

Full details on the Food Security Planning Grant Program can be found here.

Applications will be accepted until November 25 and will NOT be reviewed on a first-come, first-served basis.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about state resources available to New Jersey entrepreneurs and early-stage companies, visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitterInstagram, and LinkedIn.

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ICGF Focuses on Investing in Minority- and Women-Owned Businesses

TRENTON, N.J. (September 23, 2022) – The New Jersey Economic Development Authority (NJEDA) today announced that its Board has approved investing up to $1 million into Innovate Capital Growth Fund (ICGF) through a limited partnership investment. ICGF marks the NJEDA’s 21st venture fund investment approval to date.

ICGF, a Delaware limited partnership, was created last year to provide growth capital, primarily in the form of equity, to minority- and women-owned businesses located substantially in the Mid-Atlantic region. ICGF is expected to invest an additional $2 in New Jersey-based companies for every $1 the NJEDA commits. This would result in a target of $3 million of capital invested into New Jersey companies.

“ICGF’s investment strategy aligns perfectly with Governor Phil Murphy’s vision to create the most diverse and inclusive innovation ecosystem in the nation,” said NJEDA Chief Executive Officer Tim Sullivan. “Through investments such as this one, we are providing much-needed capital for young companies to leverage as they grow, commercialize, and create good-paying jobs in New Jersey.”

Sullivan noted that, among its myriad resources for New Jersey’s innovation sector, the NJEDA helps increase available capital for emerging innovation-focused companies by investing as a limited partner in venture capital funds that invest in New Jersey-based enterprises. Gains resulting from these investments are then used to offer new funding opportunities to support New Jersey businesses. To date, the NJEDA has committed over $64.5 million to 20 venture capital funds since 1999, not including this latest approval.

The Fund will be managed by Innovate Capital Growth GP, LLC, which is owned in part by  The Enterprise Center (TEC). TEC is a nationally recognized community economic development center in Philadelphia that focuses solely on advancing economic growth by connecting minority and women-owned companies with business, capital, and community. TEC operates three federally contracted business centers, including the Camden Cares Business Center. The Camden Cares Business Center employs nearly 10 percent of TEC’s investment and operations professionals. TEC also operates a certified Community Development Financial Institution (CDFI). Across all of these instruments, TEC has helped small businesses earn more than $1 billion in contracts and financing, secure more than $7 million in start-up loans, and created more than 3,000 jobs for the local community.

ICGF managers recently participated in the NJEDA’s New Jersey Founder & Funders event, where they met one-on-one with emerging innovation-focused companies. ICGF Co-Managing Partner and TEC President Della Clark indicated that, as part of ICGF’s growing commitment to New Jersey’s innovation ecosystem, she and her co-managers intend to participate in additional New Jersey Founders & Funders events in the future.

“In recent years, New Jersey has shown a strong commitment to bolstering opportunities for minority- and women-led businesses and we are excited to have the NJEDA as one of ICGF’s investors,” said Clark. “We have been continually impressed with the high-caliber startups we have found in New Jersey and are proud to bolster our ability to support these emerging companies through this fund.”

ICGF was awarded a Small Business Investment Company (SBIC) license from the United States Small Business Administration. Having this designation will enable the firm to access a wider pool of capital from private lenders and banks that may support companies in their portfolio.

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness. NJEDA is developing the Wind port on behalf of the State.

To learn more about state resources available to New Jersey entrepreneurs and early-stage companies, visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitterInstagram, and LinkedIn.

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NEW BRUNSWICK, N.J. (September 21, 2022) – Twelve researchers at Rutgers, The State University of New Jersey and Tel Aviv University (TAU) in Israel are poised to receive a combined $200,000 in seed grants to further joint projects across a broad spectrum of academic areas. The grants, which were awarded to six partnerships through the TAU – Rutgers University Research Collaboration Fund (the Fund), will support projects in such areas as genomics, agriculture, neurology, quantum computing, and computer science. The Fund was established last year to foster international collaborative partnerships between faculty at TAU and Rutgers.

“Israel has always been a formidable partner in our efforts to reclaim New Jersey’s role as a leader in innovation and harnessing the synergy between the Garden State and the Startup Nation brings us closer to that goal,” Governor Phil Murphy said. “The funding announced today will help us support academic researchers in high-wage, high-growth sectors as they bring their projects from infancy through commercialization.”

In August 2021, the New Jersey Economic Development Authority (NJEDA) and Rutgers University signed an agreement to facilitate research by Rutgers University faculty and staff in conjunction with a leading Israeli university. Rutgers University and the NJEDA each agreed to contribute $50,000 to what would ultimately become the Fund. Rutgers University subsequently signed an agreement with TAU to establish the Fund, which included a $100,000 contribution from TAU.

Grants awarded through the fund can be used for research activities, travel expenses, per diem allowances for faculty or full-time enrolled students, and for scholarships for students.

The awardees include:

  • Gophna – Severinov: Assessing the True Ecological Roles of CRISPR-Cas Systems to Advance Gene Editing
  • Friedman- van der Wel: Understanding Slow and Smooth Movements in Parkinson’s Disease
  • Fridman-Burlion: Development of Time Delay Software Technology to Power Systems
  • Goldstein-Andrei: Kondo Systems and Quantum Computing
  • Ohad-Lawton: Study of innate immunity of plant pathogens: implications for agriculture
  • Zimmerman-Kovacs: Metaphysics of Personhood

According to data released by the NJEDA earlier this year, annual New Jersey-Israel trade was valued at $1.55 billion in 2021 and Foreign Domestic Investments from Israel to New Jersey multiplied four times between 2018 and 2021, worth an estimated $347.1 million. This led to the creation of 1,120 jobs, including those resulting from Israeli companies new to the state.

New Jersey and Israeli officials welcomed the news announced today.

“Increasing access to seed grant funding for researchers statewide is paramount to growing our innovation economy and has been a priority for Governor Murphy since his very first days in office,” said NJEDA Chief Executive Officer Tim Sullivan. “New Jersey and Israel share a long history of collaboration and the awards announced today will spur new partnership opportunities between researchers at two of the world’s top universities. This, in turn, will lead to long-term economic growth.”

“We’re thrilled to bring Israel’s innovation prowess to this partnership with such a storied New Jersey institution,” said Ambassador Asaf Zamir, Consul General of Israel in New York. “Tel Aviv University and Rutgers University are exactly the kinds of places that will deliver tomorrow’s advancements in biotech, neurology, computing, and more. We look forward to seeing the scientific, technological and economic benefits of this wonderful collaboration.”

“New Jersey and Israel share many common values and goals, such as developing ways for university researchers to spur innovation and ultimately drive economic growth,” said New Jersey-Israel Commission Executive Director Andrew Gross. “Innovation and education are among the Commission’s top priorities, and we are thrilled to know that these grants will also serve to strengthen the strong economic and academic ties that exist between Israel and New Jersey.”

“We congratulate both Rutgers University and Tel Aviv University on these historic grants as they fulfill the mission set out by Governor Murphy to connect these global academic ecosystems,” said New Jersey-Israel Commission Co-Chairs Mark S. Levenson and Karin Elkis. “Our commitment to strengthening the partnership between these incredible universities will continue as they leverage game changing technologies to make scientific discoveries that will better our world.”

“From Selman Waksman’s development of streptomycin, that supercharged the global effort to combat tuberculosis in the 1940s, to the invention just two and a half years ago of the saliva-based COVID-19 test that helped to guide the world through the pandemic, Rutgers has long been leveraging collaboration to spur technological progress with academic partners around the globe.  These new projects follow in that academic research tradition,” said Rutgers University Senior Vice President for Research Michael E. Zwick.

“Fostering collaboration between our researchers and their American counterparts is key to furthering innovation and is a tremendous mechanism for driving economic activity,” said TAU President Ariel Porat. “These joint grants are another example of how Governor Murphy and New Jersey continue to be steadfast allies as we seek to grow our presence in the United States.”

The awards announced today are the latest in a series of collaborations between TAU and Rutgers University. Last year, the universities signed an agreement to further collaboration and to have TAU establish a presence at the New Jersey Innovation and Technology Hub, a 550,000-square-foot, $665 million project in New Brunswick that will be home to the new Rutgers Translational Research facility and the Rutgers Robert Wood Johnson Medical School, among other public and private entities. The two universities also previously held a monthly series of joint-scientific symposia.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about state resources available to New Jersey entrepreneurs and early-stage companies, visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitterInstagram, and LinkedIn.

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El proceso de aplicaciones para préstamos de hasta 50.000 dólares abrirá el 6 de octubre de 2022

TRENTON, N.J. (16 de septiembre de 2022) – La Junta Directiva de la Autoridad para el Desarrollo Económico de Nueva Jersey (NJEDA) aprobó una revisión del Préstamo para microempresas de Main Street, que elimina el requisito de garantías personales para los propietarios de microempresas.

El Préstamo para microempresas de Main Street, que reemplaza al Programa de préstamos para microempresas establecido por la NJEDA en 2019, se ofrece como parte del Fondo para la recuperación de Main Street-un conjunto de productos de 150 millones de dólares creados o ampliados conforme a la Ley de Recuperación Económica de 2020 (ERA), firmada por el gobernador Phil Murphy en 2021. Este producto piloto proporcionará financiamiento de hasta 50.000 dólares a microempresas de New Jersey que reúnan los requisitos necesarios, cuyos ingresos brutos anuales sean de 1.500.000 dólares o menos y tengan 10 o menos empleados a tiempo completo en el momento de presentar la aplicación y tres meses antes de la fecha de la misma.  La NJEDA comenzará a aceptar aplicaciones para el programa el jueves 6 de octubre de 2022, a las 10:00 a.m. EDT.

“El Préstamo para microempresas de Main Street será un gran activo para las pequeñas empresas que se esfuerzan por aumentar su presencia en el Estado Jardín”, dijo el director ejecutivo de la NJEDA, Tim Sullivan. “La eliminación de los obstáculos que dificultan el acceso al capital para las empresas más pequeñas de nuestro estado es un paso más hacia la consecución de la visión del gobernador Murphy de una economía más fuerte y justa, ya que más propietarios de microempresas ahora tendrán acceso al financiamiento que necesitan para crear más puestos de trabajo y oportunidades económicas que permitan mantener a sus familias”.

Las empresas elegibles con y sin fines de lucro registradas para hacer negocios en Nueva Jersey, incluidas las empresas que operan desde el hogar, pueden solicitar financiamiento de los 20 millones de dólares en fondos asignados desde el Fondo de recuperación de Main Street para cubrir gastos operativos futuros, tales como inventario, alquiler, nóminas, equipos (que no requieran instalación o trabajo de construcción por un total de más de 1.999,99 dólares), o cualquier otro gasto de capital de trabajo para financiar los gastos operativos de la empresa. El préstamo tendrá un plazo estándar de 10 años y el tipo de interés será del 2%, sin intereses ni pagos durante el primer año. 

El Préstamo para microempresas de Main Street tiene un componente de condonación importante, ya que ayuda a reducir la carga de los propietarios de microempresas que ya tienen un acceso limitado al capital. Según las normas del programa, el prestatario está obligado a realizar pagos desde el segundo año hasta el final del quinto año. Para calificar para la condonación del préstamo, el solicitante debe haber realizado los pagos de su préstamo tal y como se identifica en su acuerdo de préstamo sin una morosidad de más de 90 días, no tener incumplimientos actuales, poder certificar que ha utilizado el préstamo solo para los fines aprobados, y que sigue abierto y operando como se detalla en el acuerdo del préstamo.

Para garantizar un acceso equitativo e inclusivo al Préstamo para microempresas de Main Street, de los 20 millones de dólares de financiamiento total disponibles, 8 millones se reservarán para apoyar a las entidades elegibles situadas en las zonas censales que califiquen como zonas de oportunidad en Nueva Jersey.

Los requisitos de elegibilidad para las microempresas interesadas en aplicar para este programa incluyen:

  • Tener menos de 1,5 millones de dólares de ingresos brutos anuales en el último año fiscal (en la medida en que la empresa tenga ingresos anuales).
  • No tener más de 10 empleados a tiempo completo en el momento de la solicitud y tres meses antes de la misma.
  • Estar legalmente registrada para hacer negocios en Nueva Jersey, y tener una ubicación comercial (incluida una oficina en casa) en Nueva Jersey.
  • Haberse constituido al menos seis meses antes de la fecha de la solicitud.
  • Estar al día con el Departamento de Trabajo y Desarrollo de la Fuerza Laboral de Nueva Jersey (LWD) y el Departamento de Protección Ambiental de Nueva Jersey en el momento de la solicitud.
  • Proporcionar un certificado de liquidación de impuestos actual antes de la aprobación para demostrar que el solicitante está al día con la División de Impuestos de NJ.

El Préstamo para microempresas de Main Street no requerirá garantías, ya que los criterios de suscripción se basarán únicamente en la calificación crediticia. Solo las organizaciones sin fines de lucro tendrán que estar totalmente suscritas y se les exigirá un índice de cobertura del servicio de la deuda de 1,0. Para las entidades con fines de lucro, al menos uno de los propietarios debe tener una calificación crediticia de 600 o más para ser considerado elegible. No se requieren garantías personales de los propietarios o directores.   

Las aplicaciones para el Préstamo para microempresas de Main Street se procesarán en el orden que son recibidas, según la fecha/hora en que la Autoridad reciba la aplicación completada. Los beneficiarios anteriores del Programa de préstamos para microempresas pueden solicitar el Préstamo para microempresas de Main Street.  Debido a las condiciones favorables de este producto, solo se permite una solicitud por EIN.  

La NJEDA organizará una sesión informativa sobre el Préstamo para microempresas de Main Street el lunes 26 de septiembre de 2022, a las 2:00 p.m. EDT. Para inscribirse en esta sesión en línea, haga clic aquí.

Para obtener más información sobre el Préstamo para microempresas de Main Street y el proceso para aplicar, visite https://www.njeda.com/microbusinessloan/.

Acerca de la Autoridad para el Desarrollo Económico de Nueva Jersey


La Autoridad para el desarrollo económico de Nueva Jersey (NJEDA) es la agencia principal del Estado para impulsar el desarrollo económico. La NJEDA tiene el compromiso de hacer del Estado de Nueva Jersey un modelo nacional para el desarrollo económico inclusivo y sostenible al centrarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos trabajos para los residentes de Nueva Jersey y ofrecer oportunidades para una economía más sólida y justa. A través de asociaciones con una diversa gama de partes interesadas, la NJEDA crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y para fortalecer la competitividad económica a largo plazo de Nueva Jersey.


Para obtener más información sobre los recursos de la NJEDA para empresas, llame a la línea de atención al cliente de la NJEDA al 844-965-1125 o visite https://www.njeda.com y siga a @NewJerseyEDA en FacebookTwitter, InstagramLinkedIn.

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TRENTON, N.J. (September 16, 2022) – Governor Phil Murphy has appointed BioNJ President and Chief Executive Officer (CEO) Debbie Hart as the next Chair of the Commission on Science, Innovation and Technology (CSIT), the Commission announced today. CSIT is tasked with leading the way in promoting the State as a home for academic and technological research, development, and commercialization.

The Governor signed legislation in 2018 re-establishing the former New Jersey Commission on Science and Technology as the CSIT and appointed Hart as the Commission’s Vice-Chair at that time. CSIT is comprised of representatives from the public and private sectors, as well as academia. To date, CSIT has provided nearly 150 startups with a total of over $6 million in funding.

“As we continue to invest in our state’s science, technology, engineering, and math sectors, CSIT’s role is becoming more important than ever,” Governor Murphy said. “Debbie has a long history of advocating for young, innovative companies in the Garden State and her decades of involvement has helped shape New Jersey’s innovation ecosystem and make it the ideal place for startups to grow and flourish.” 

Hart, who sits on numerous economic and academic boards statewide, has led BioNJ since its inception in 1994, after she worked with pharmaceutical industry leaders to establish the life sciences trade organization. BioNJ currently represents nearly 400 research-based life sciences organizations and stakeholders across the healthcare ecosystem from the largest biopharmaceutical companies to early-stage startups.

“The passion Debbie has for helping emerging companies succeed shines through in everything she does, making her the perfect choice to be the next CSIT Chair,” said CSIT Executive Director Judith Sheft. “Debbie brings a unique perspective and set of skills to CSIT and is a tremendous asset to the Board as we work with our partners in the industry and academia to support startups growing in the Garden State.”

Sheft noted that CSIT offers a suite of resources to help New Jersey startups thrive. Examples of these tools include seed grant funding, voucher programs to help offset the cost of accessing facilities and equipment at New Jersey’s world-class universities, a Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Direct Financial Assistance Program that helps bridge financing gaps for startups applying to Phase I or Phase II of the federal SBIR/STTR programs, and a Maternal and Infant Health R&D Grant Program that supports startups developing technology, therapeutics, and other solutions to address maternal and infant health challenges in New Jersey.  CSIT also manages the ReseachWithNewJersey.com portal that provides information on faculty, facilities, intellectual property and publications from five participating NJ universities (Montclair, NJIT, Princeton, Rowan and Rutgers).

“I thank Governor Murphy for his unwavering commitment to New Jersey’s startup community and for entrusting me with the vital task of heading the Board of such an important commission,” Hart said. “Under the Governor’s leadership, we have made significant strides in our efforts to recapture our role as a leader in innovation. I look forward to working with my fellow Board members, and the staff of CSIT, to put forth new programs and initiatives that will benefit businesses and researchers throughout the industry and New Jersey’s innovation economy as a whole.”

Hart succeeds Gunjan Doshi as CSIT Chair. Doshi stepped down from the position earlier this year.

To learn more about resources for startups within New Jersey’s innovation ecosystem, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.com/csit and follow @NewJerseyEDA on FacebookTwitterInstagram, and LinkedIn.

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Application for Loans up to $50,000 to Launch on October 6, 2022

TRENTON, N.J. (September 14, 2022) – The New Jersey Economic Development Authority (NJEDA) Board today approved a revision to the Main Street Micro Business Loan, removing the requirement for personal guarantees from owners of micro businesses.

The Main Street Micro Business Loan, which succeeds the Micro Business Loan Program established by the NJEDA in 2019, is offered as part of the Main Street Recovery Fund—a $150 million suite of products created or expanded under the Economic Recovery Act of 2020 (ERA), signed by Governor Phil Murphy in 2021. This pilot product will provide financing of up to $50,000 to eligible micro businesses in New Jersey whose annual gross revenues are $1,500,000 or less and have 10 or fewer full-time employees at the time of application and three months prior to the date of application.  The NJEDA will start accepting applications for the program on Thursday, October 6th, 2022, at 10:00 a.m. EDT.

“The Main Street Micro Business Loan will be a tremendous asset for small businesses that are working hard to grow their footprint in the Garden State,” said NJEDA Chief Executive Officer Tim Sullivan. “Removing the barriers to capital for our state’s smallest businesses is another step toward achieving Governor Murphy’s vision for a stronger, fairer economy, as more micro business owners will now have access to the financing they need to create more family-sustaining jobs and economic opportunities.”

Eligible for-profit and nonprofit businesses registered to do business in New Jersey, including home-based businesses, can apply for financing from the $20 million in funds allocated from the Main Street Recovery Fund to cover future operating expenses only such as inventory, rent, payroll, equipment (that does not require installation or construction work totaling more than $1,999.99), or any other working capital expense to fund business operating expenses. The loan will have a standard 10-year term and the interest rate will be 2 percent, with no interest and no payments due for the first year. 

The Main Street Micro Business Loan has a substantial forgivable component as it helps reduce the burden on micro business owners who already have limited access to capital. Under program rules, the borrower is required to make payments from year two to the end of year five. To qualify for loan forgiveness, the applicant must have made their loan payments as identified in their loan agreement with no delinquency of more than 90 days, have no current default, be able to certify that they have used the loan for approved purposes only, and that they are still open and operating as detailed in the loan agreement.

To ensure equitable and inclusive access to the Main Street Micro Business Loan, of the $20 million in total funding available, $8 million will be set aside to support eligible entities located in New Jersey Opportunity Zone-eligible census tracts.

Eligibility requirements for micro businesses interested in applying for this program include:

  • Must have less than $1.5 million in annual gross revenue for the most current fiscal year (to the extent the business has annual revenues)
  • Must have no more than 10 full-time employees at the time of application and three months prior to application
  • Must be legally registered to do business in New Jersey, with a business location (including a home office) in New Jersey
  • Must have been formed at least six months prior to the date of application.
  • Must be in good standing with the New Jersey Department of Labor and Workforce Development (LWD) and the NJ Department of Environmental Protection at the time of application
  • Must provide a current tax clearance certificate prior to approval to demonstrate the applicant is in good standing with the NJ Division of Taxation

The Main Street Micro Business Loan will not require collateral, as the underwriting criteria will be based solely on credit score. Only not-profit organizations will need to be fully underwritten and required to meet a 1.0 debt service coverage ratio. For all other for-profit entities, at least one owner must have a credit score of 600 or greater to be considered eligible. Personal guarantees from owners or principals are not required.   

Applications for the Main Street Micro Business Loan will be reviewed on a first-come, first-served basis, based on the date/time at which the Authority receives the completed application. Past recipients of the Micro Business Loan Program are eligible to apply for the Main Street Micro Business Loan.  Due to the favorable terms of this product only one application per EIN is allowed.  

The NJEDA will host an information session on the Main Street Micro Business Loan on Monday, September 26, 2022, at 2:00 p.m. EDT. To register for this online session, click here.

For more information on the Main Street Micro Business Loan and the application process, go to https://www.njeda.com/microbusinessloan/.

About the New Jersey Economic Development Authority


The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.


To learn more about NJEDA resources for businesses call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitterInstagram and LinkedIn.

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A meeting of the Commission of Science, Innovation and Technology (CSIT) Board has been scheduled for Friday, September 16 2022 at 10:00 am.

A copy of the proposed agenda can be found at https://www.njeda.com/csit

+1 551-220-2262
Conference ID: 100 564 750#

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Attendees will learn how their licensed child care centers can apply for grants of up to $200,000 to make facility upgrades

TRENTON, N.J. (September 12, 2022) – The New Jersey Economic Development Authority (NJEDA) today announced that it will host virtual information sessions on September 15 and September 19 for applicants interested in applying to NJEDA’s Child Care Facilities Improvement Program. Funded at $54.5 million, this program builds upon Governor Phil Murphy’s comprehensive strategy to support New Jersey’s child care sector, which plays a vital role in our state’s long-term economic recovery.

Through Phase 1 of the Child Care Facilities Improvement Program, the NJEDA will provide nearly $15 million in grants between $50,000 – $200,000 to licensed child care centers in New Jersey to cover the costs of facility improvements that will contribute to high-quality early childhood learning environments. These interior and exterior improvements could include, but are not limited to, installing energy efficient windows, creating additional classroom space, purchasing new playground equipment, replacing flooring, remediating environmental hazards such as lead or mold, or putting in child-height sinks or toilets. A complete list of eligible uses can be found here.

During the sessions, attendees will receive a program overview, a walk-through of the application, and information on how to best prepare to apply.

The information sessions will take place at the following times:

Eligible applicants are child care center providers licensed by the Department of Children & Families as of June 4, 2021 that have enrolled in the last 12 months prior to the date of application at least one child receiving assistance through NJ Department of Human Services’ (NJDHS’s) Child Care Assistance Program. A complete list of eligibility requirements can be found at https://www.njeda.com/child-care-improvement-program/.

To help ensure that child care providers serving low-income children through the NJDHS’s Child Care Assistance Program receive the funding they need to survive and thrive, 40 percent of the Phase 1 funding will be set aside for child care providers in Opportunity Zone-eligible census tracts.


The application for the Child Care Facilities Improvement Program is expected to launch in October.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitterInstagram, and LinkedIn.

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he New Jersey Economic Development Authority’s next public Board Meeting will be held in person and via teleconference on Wednesday, September 14, 2022, at 10:00 am.

IN PERSON:

NJEDA Board Room

36 West State Street, Trenton NJ

TELECONFERENCE:

CONFERENCE NAME:                                NJEDA BOARD MEETING

PARTICIPANT DIAL-IN NUMBER:              877-692-8955

PARTICIPANT ACCESS CODE:                    4204420

Members of the public are encouraged to call in prior to the time the meeting is scheduled to begin to avoid any delays.

The agenda can be found 48 hours prior to the meeting on our website: https://www.njeda.com. The meeting will also be recorded and posted to the NJEDA website shortly after the conclusion of the meeting.

TRENTON, N.J. (September 1, 2022) – Today, the New Jersey Economic Development Authority (NJEDA) released information on the Brownfields Redevelopment Incentive (BRI) Program for public feedback. Established by the New Jersey Economic Recovery Act of 2020 (ERA), the Brownfields Redevelopment Incentive Program is a $300 million tax credit program designed to compensate developers of redevelopment projects located on brownfield sites for remediation costs.

The Brownfields Redevelopment Incentive Program covers specific costs associated with brownfield remediation and redevelopment., including the investigation and remediation of environmental contamination, as well as building and structural remediation activities.

The program, which provides $300 million in incentive funding over six years, focuses on brownfield redevelopment as an integral part of community development. Awards of up to 50 percent of remediation costs are available for eligible brownfield sites, up to a maximum of $4 million. Brownfield sites in a Government Restricted Municipality or Qualified Incentive Tract may be eligible for up to 60 percent of rehabilitation costs, up to a maximum of $8 million.  Awards are scored on a competitive basis.

Members of the public are encouraged to review the preliminary information and submit written feedback through an online form available on the Economic Recovery Act website. The NJEDA will also be hosting two listening sessions for public input on the proposed information.

“The Brownfields Redevelopment Incentive is part of a suite of programs created under the ERA that sets a high bar for equitable and inclusive development,” said NJEDA Chief Executive Officer Tim Sullivan. “Input from community stakeholders will help to ensure the BRI advances Governor Phil Murphy’s and the NJ State Legislature’s vision for incentivizing projects that turn vacant and contaminated sites into vibrant economic assets, with a continued focused on community development.”

Tax credits will be awarded through a competitive application process to ensure the best projects receive State support. The NJEDA will partner with the NJ Department of Environmental Protection (NJDEP) to create evaluation criteria for a competitive application process. To receive tax credits through the program, the developer must demonstrate that a financing gap exists. Parties that are in any way responsible or liable for the site contamination are not eligible for the program. 

The BRI Proposed Information is available now for review here

Members of the public can also provide input during the NJEDA’s public listening sessions, which are scheduled for the following times:

Members of the media interested in attending the session or submitting questions are asked to email media@njeda.com.  

To provide feedback on the BRI Program online click here.

In addition to the Brownfields Redevelopment Incentive, the ERA creates a suite of programs that includes tax credits to incentivize job creation, new construction, and historic property reinvestment; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry. The NJEDA will continue to engage the public as new programs and rules are developed.

For more information and to provide written input on the design and implementation of Economic Recovery Act programs, visit https://www.njeda.com/economicrecoveryact/.

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness. NJEDA is developing the Wind port on behalf of the State.
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitterInstagram, and LinkedIn.

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