NJ ZIP Application to Open April 6, 2021
TRENTON, N.J. (March 16, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that applications for the New Jersey Zero Emission Incentive Program (NJ ZIP) will open on Tuesday, April 6th 2021. The $15 million pilot program will fund 100 to 300 vouchers ranging in value from $25,000 to $100,000 for businesses and institutional organizations in the greater Newark and Camden areas for the purchase of new, zero emission medium and heavy-duty vehicles (MHDVs).
The NJEDA will be hosting three informational webinars for potential applicants and vendors on Tuesday, March 23rd 2021. Register for a webinar that fits your schedule here.
NJ ZIP is the first initiative in New Jersey’s holistic, Regional Greenhouse Gas Initiative (RGGI)-funded effort to support the deployment of zero emission MHDVs. The pilot program allocates $15 million to provide vouchers to businesses and organizations purchasing new, class 2b to class 6 vehicles. The size of vouchers awarded through the program will vary depending on the class of vehicle being purchased, from a minimum of $25,000 for Class 2b vehicles to $100,000 for Class 6 vehicles. Bonuses will be available for small businesses; women-, minority-, and veteran-owned businesses; vehicles that are manufactured in New Jersey; small businesses that scrap their eligible MHDVs; and vendors that invest in driver education and training.
Vouchers will be available on a first-come, first-served basis with $5 million set aside for micro and small businesses. Initially, NJ ZIP will only be available in the greater Newark and greater Camden areas, defined as the overburdened communities within or intersected by a circle with a 10-mile radius centered on Newark and Camden. More information is available at https://www.njeda.com/njzip.
NJ ZIP will be funded using proceeds from New Jersey’s participation in RGGI, a multi-state “cap-and-trade” program regulating carbon dioxide emissions. The State plans to deploy those funds within four initiative categories identified in the RGGI Strategic Funding Plan: catalyzing clean, equitable transportation; promoting blue carbon in coastal habitats; enhancing forests and urban forests; and creating a New Jersey Green Fund. More information about New Jersey’s plans for using RGGI funding is available https://www.nj.gov/rggi/index.html.
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.
April 19, 2021
Notice of Funding Availability - Small Business Emergency Assistance Grant Program (Phase 4)
Pre-registration will open at 9:00 am on Monday, April 19th at 9:00 a.m. and remain open until Thursday, April 29th at 5:00 p.m. Following pre-registration, applications will become available on a rolling basis.
April 14, 2021
NJEDA Anuncia Fechas de Lanzamiento de la Fase 4 Por $85 Millones del Programa de Subsidios de Asistencia de Emergencia para Pequenas Empresas
La NJEDA hoy anunció la fase 4 del Programa de subsidios de asistencia de emergencia para pequeñas empresas. La fase 4 brindará apoyo operativo de corto plazo a un amplio grupo de pequeñas y medianas empresas y organizaciones sin fines de lucro de Nueva Jersey que se han visto afectadas negativamente durante el estado de emergencia declarado.
April 14, 2021
NJEDA Board Approves Reopening of 21st Century Redevelopment Program
The NJEDA today approved the reopening of the 21st Century Redevelopment Program. The program makes grants up to $50,000 available to suburban communities to help them redevelop, repurpose, or regreen vacant and underutilized retail or office park properties.