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LIghtbulbs_City-(2).pngLarge Business & Development

The NJEDA offers a full range of programs to help support large corporations that are creating or retaining jobs in New Jersey. Our incentives are attractive to existing large companies in the state, as well as those considering New Jersey as a future home. Low-interest financing through bonds, direct loans, loan participations/guarantees, and tax incentives rank among the key reasons for large corporations to conduct business in New Jersey.

The NJEDA also offers powerful resources to spur economic development and self-sufficiency across New Jersey, particularly in New Jersey’s urban areas. With lower borrowing costs and the ability to bridge financing gaps for municipalities, developers, businesses and community groups in urban areas, the NJEDA is a flexible and effective business partner.

We invite you to contact NJEDA to discuss your project details and whether any of the below list of programs is applicable to your business or redevelopment project.

Grow NJ Assistance Program

Grow NJ is a powerful job creation and retention incentive program that strengthens New Jersey's competitive edge against tax incentive programs in surrounding states.  Businesses that are creating or retaining jobs in New Jersey may be eligible for up to tax credits ranging from $500 to $5,000 per job, per year; with bonus credits ranging from $250 to $3,000 per job, per year  (award amounts vary based on applicable criteria.)

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Economic Redevelopment and Growth (ERG) Program

The Economic Redevelopment and Growth (ERG) Program is an incentive for developers and businesses to address revenue gaps in development projects, defined as having insufficient revenues to support the project debt service under a standard financing scenario.  It can also apply to projects that have a below market development margin or rate of return. The grant is not meant to be a substitute for conventional debt and equity financing, and applicants should generally have their primary debt financing in place before applying.  In order for a project to be approved, it needs to undergo a rigorous analysis of the sources and uses of funds, construction costs and projected revenues.

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Film and Digital Media Tax Credit Program

The New Jersey Film & Digital Media Tax Credit Program provides a credit against the corporation business tax and the gross income tax for certain expenses incurred for the production of certain films and digital media content in New Jersey. The goal of the program is to incentivize production companies to film and create digital media content in New Jersey.

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21st Century Redevelopment Program

The 21st Century Redevelopment Program will provide grants of up to $50,000 each to eligible redevelopment agencies, municipalities, or counties to create strategies to redevelop or regreen their stranded assets.

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Opportunity Zone Challenge Program

The goal of this grant program is to encourage communities to build economic development capacity by developing community-specific plans that will frame their pursuit of Opportunity Zones-based investments.

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Bond Financing

Creditworthy manufacturing companies, 501(c)(3) not-for-profit organizations, and exempt facilities in New Jersey may be eligible for long-term financing under the Bond Financing Program.

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Hazardous Discharge Site Remediaton Fund (HDSRF)

Businesses operating in New Jersey, individuals, or municipalities that are required to, or volunteered to, perform remediation and/or cleanup of contaminated and underutilized sites may be eligible to secure financing through loans and/or grants under the Hazardous Discharge Site Remediation Fund (HDSRF).

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Offshore Wind Tax Credit Program

The Offshore Wind Tax Credit is a powerful financial tool designed to spur private capital investment and employment growth in major, land-based offshore wind industry projects.  The tax credit program provides reimbursement for capital investments in industry-specific facilities located in the seven southern counties of New Jersey.

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Brownfields and Contaminated Site Remediation Program

Developers in New Jersey who need financial assistance to clean up and redevelop polluted sites and closed municipal landfills may enter into a redevelopment agreement with the EDA and be eligible to recover a portion of their remediation costs.

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Municipal Landfill Closure and Remediation Reimbursement Program

Eligible developers seeking financial assistance in the closure, remediation and redevelopment of municipal landfill sites in New Jersey may qualify for reimbursement of 75% of the closure or cleanup costs associated with the remediation and redevelopment of a municipal solid waste landfill.

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Sales and Use Tax Exemption Program

A company with 1,000 or more employees that needs to make purchases for construction and renovation of a new business location may be eligible for a sales tax exemption certificate for purchases of machinery, equipment, furniture and furnishings, fixtures and building materials (other than tools and supplies) for placement at the project location until the new facility is functional.

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