FISCAL AND RESIDENT PROTECTIONS
In order to receive tax credits through the Offshore Wind Tax Credit Program, a project must be in good standing with the NJ Department of Labor, NJ Department of Treasury, and the NJ Department of Environmental Protection. The Project must also meet minimum environmental standards and pay family-sustaining wages to construction workers and building service workers.
Tax credits awarded through the program will be subject to a net positive benefits test. This test considers direct and indirect benefits to the State during construction and direct benefits after construction is complete.