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Strategic Industry Support

WHY CHOOSE NEW JERSEY


Strategic Sector Support

Launched in support of Governor Murphy’s 2018 Economic Development Plan: The State of Innovation: Building a Stronger and Fairer Economy in New Jersey, NJEDA’s Strategic Sector efforts aim to accelerate the growth of New Jersey’s economy by developing and implementing programs that enhance the State’s long-term economic competitiveness in eight strategic sectors.

NJEDA  works in partnership with industry leaders, academic institutions, and government agencies to provide a coordinated approach to sector-based growth. We leverage New Jersey’s existing assets and implement programs to increase economic opportunities and create jobs.

We focus on expanding our State’s competitive strengths driving long-term growth and reclaiming New Jersey’s position as a center of invention and innovation.

Strategic Sectors

NJEDA innovation economy Programs

Angel Investor Tax Credit Program
Catalyst R&D Voucher Pilot Program
Clean Tech Research and Development (R&D) Voucher Program (Round 2)
Clean Tech Seed Grant Program (Round 2)
Edison Innovation Fund
New Jersey Offshore Wind Safety Training Challenge
NJ Accelerate
NJ Arts and Innovation Festival Challenge Grant
NJ CoVest Fund
NJ Founders & Funders
NJ Ignite
NJ Innovation Evergreen Fund​ (NEW)
NJ ZIP
Offshore Wind Tax Credit Program
SBIR/STTR Direct Financial Assistance Program (CSIT)
Technology Business Tax Certificate Transfer (NOL) Program
Venture Fund Investments
Wind Turbine Technician Training Grant Challenge

Click Here for a comprehensive information session discussing the various NJEDA programs designed to support New Jersey’s Innovation Economy. This session includes a review of programs such as Angel Investor Tax Credit, NJ Ignite, NJ Accelerate, and more.

Angel and VC Investments

Access to capital is pivotal to the growth of emerging New Jersey innovation-focused companies. Garden State businesses continue to attract the capital they need to grow. Below is a summary roundup by month of the many of the companies that have received investments, as well as a roundup by month of many mergers and acquisitions. Click on each company’s name to learn more.

EMAIL NJINVESTMENTS@NJEDA.COM TO SEND US INVESTMENTS YOU WOULD LIKE TO SEE HIGHLIGHTED.

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Strategic Innovations Centers

In July 2021, NJEDA approved policy guidance for utilizing recently appropriated funds to undertake development of or investment in strategic innovation centers.

Strategic Innovation Centers are facilities that either directly support research and development (R&D), innovation, or entrepreneurship or are aimed at solving specific problems in new and innovative ways through a combination of services such as mentorship, networking opportunities, hands-on training, business support services, education opportunities, and/or access to testing, fabrication, or manufacturing facilities and equipment.

The aim of funding strategic innovation centers is to accelerate economic recovery and drive the long-term growth of the State’s innovation economy.

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Visit us at IPF 2022

APRIL
26-28

2022 INTERNATIONAL
PARTNERING FORUM

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APRIL
26

SUPPLIER DAY

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MARCH
24

OSW READY DAY

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Looking for FInancial Assistance to Attend IPF?

Golden Seeds

Governor Phil Murphy’s comprehensive plan for building a stronger and fairer economy in New Jersey includes a goal of creating the most diverse innovation ecosystem in the nation and doubling venture capital in the state. Furthermore, the Governor’s plan calls for closing the racial and gender wage and employment gaps. One means of closing wage and employment gaps is to close the funding gap for female-led startups. 

In support of this goal, the NJEDA has worked with First Lady Tammy Murphy to organize a New Jersey chapter of Golden Seeds to focus on New Jersey women-led businesses. Here is the First Lady’s discussion on the benefits of supporting female entrepreneurs.

Learn More


New Jersey Commission on Science and Technology

In August 2018, Governor Murphy signed legislation re-establishing the former New Jersey Commission on Science and Technology as the New Jersey Commission on Science, Innovation and Technology. The Commission is tasked with leading the way in promoting the state as a home for academic and technological research, development, and commercialization. The Commission is comprised of 17 members including the State’s Chief Innovation Officer, the Secretary of Higher Education; the Commissioner of Education; and the CEO of the NJEDA.

Industry EngagEment- Request for Information

REQUEST FOR INFORMATION
2022-RFI-OET-PFS-146
New Jersey Financial Technology Innovation Center


I. INTENT/SUMMARY OF SCOPE
The New Jersey Economic Development Authority (“Authority”, “NJEDA”), an independent Authority of the State of New Jersey, is seeking information and ideas from qualified entities (“Respondents”) including, but not limited to: finance and insurance companies, information technology companies, suppliers within the Financial Services and Technology supply chains (e.g., product and technology development), post-secondary educational institutions, relevant industry or trade groups, policy and academic researchers; real estate developers; business leaders, employers and entrepreneurs; technical assistance providers, and municipal or county governments.


This Request for Information (RFI) is issued by the NJEDA to seek information from firms with perspectives on the creation of a physical innovation center dedicated to financial technology (fintech). The NJEDA is interested in receiving comments, questions, recommendations, facts, information, ideas, solutions, and responses that will help the NJEDA better understand the scope and characteristics of technology driven financial innovations, generally referred to as fintech, and the potential value in creating a Center for fintech activity in New Jersey.


This RFI seeks to collect information on whether a fintech strategic innovation center offers a unique opportunity for further economic development, sustain job growth/creation, and catalyze innovation. In addition, this RFI seeks to:

  1. Better understand the opportunities and challenges in establishing a fintech innovation center in in the State including, market need and gaps, as well as potential sites and logistical considerations regarding the Center’s location and operations.
  2. Collect information on potential projects or solutions that present the best return on investment and opportunity for sustainability.
  3. Learn about models in the United States and throughout the world that should be explored when developing a center.

II. BACKGROUND
The Authority serves as the State’s principal agency for driving economic growth. The Authority 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 Authority 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.

Governor Murphy’s Economic Development Strategic Plan, “The State of Innovation: Building a Stronger and Fairer Economy in New Jersey” specifically highlights investing in emerging innovative industries as critical to the State’s economic development strategy. New Jersey will take a proactive, targeted approach to support innovative, resilient growth industries that provide living wages for New Jersey residents.

A stronger and fairer New Jersey economy will prioritize innovation sectors that best support New Jersey’s long-term economic future. The Governor’s plan identifies Finance and Professional Services as one of nine strategic sectors with the potential for outsized growth over the next five to fifteen years where the State could use targeted initiatives to promote innovation and economic development. NJEDA has determined that, given its high reliance on technology and innovation, fintech falls within the Financial and Professional Services sector.

In addition, the Economic Recovery Act provides a consistent definition of “targeted industry” for various programs and authorizes the Authority to amend the list from time to time. “Targeted industry” means any innovative industries that disrupt current technologies or business models, including but not limited, to Finance and Insurance. The Finance and Insurance industry includes, but is not limited to, the research, development, commercialization and management of financial and risk-management solutions, products and services for individuals, businesses and government agencies, including insurance lines, investment banking, depository and lending, and investment management services. It may include technology driven financial innovations generally referred to as fintech, research and development activities that advance finance and insurance industry practices, including executing financial transactions. The Finance and Insurance industry may also include wagering platforms and related products and services, cryptocurrencies and related products and services, and regional or global headquarters of finance and insurance operations.


Further, the Governor’s Strategic Plan notes that creating and supporting new physical innovation spaces and hubs is an important aspect of building the State’s innovation economy, as these spaces support the clustering of industry stakeholders to catalyze innovation. Additionally, the plan includes goals to create the most diverse innovation ecosystem in the country, support high-wage and high-growth innovation sectors, and close the racial and gender wage and employment gaps.


New Jersey is uniquely positioned to establish itself as a central location for the fintech industry. Many of the world’s leading financial services companies have placed their back-office data and technology support operations in New Jersey. The added value of locating in New Jersey include:


• A strategic location at the heart of the densely-populated and transit-connected Northeast Corridor, next to Philadelphia and New York City


• Best-in-class digital infrastructure


• A highly-educated, skilled, and diverse workforce


• International gateway with easy access to employees, clients, and customers across the globe


Many New Jersey institutions of higher education are fintech leaders. Efforts are already underway to strengthen the fintech innovation ecosystem in New Jersey. For example, Hoboken-based Stevens Institute of Technology, in partnership with Rensselaer Polytechnic Institute, was awarded the first-ever National Science Foundation (“NSF”) grant to create an industry-university cooperative research center devoted specifically to financial technology and science. Stevens and Rensselaer will bring together industry and academic partners, and policy makers involved in high-impact research efforts, to conduct research that is relevant for industry and has potential for commercialization. The effort is expected to receive approximately $1 million in funding in the initial year of operation, with $300,000 provided by the NSF annually over the five-year grant period and the remainder funded by its industry members. Stevens will serve as the administrative lead institution in compliance with NSF’s newly issued rules of designating a lead institution for all industry-university cooperative research centers.

Second, The NJEDA Board recently executed a memorandum of understanding with Stockton University to support the establishment of an esports Innovation Center at the university’s Atlantic City campus. The Esports Innovation Center in tandem with ongoing revitalization and job creation efforts will help pave the way for equitable and lasting economic growth in Atlantic City. The NJEDA will provide $200,000 in funding and provide staff support for the Innovation Center.

Finally, as part of a wider NJEDA strategic effort to grow New Jersey’s innovation, sports wagering, and fintech ecosystems, the NJEDA has an agreement with New Jersey City University (“NJCU”) to support the Sports Wagering and Financial Technology Workforce Development and Innovation Center at NJCU. This Center will provide an incubator for the sports wagering and fintech industries and act as a connector between industry, academia, and relevant State agencies to grow and support innovation in sports wagering technology and fintech.

Through the NJEDA’s revitalized tax incentive programs, New Jersey is attracting new startups and well-known blue-chip companies seeking to base their operations and establish new offices in the Garden State. Some of these programs include Emerge (Per-job tax credits to projects that create/retain good-paying jobs), Aspire (gap financing for real estate development projects), the Edison Innovation Fund (develop and grow technology and life sciences businesses leading to well-paying job opportunities for New Jersey residents), Angel Investor Fund (tax credits against corporation business or gross income taxes based for qualified investment in emerging technology businesses) and the NJ Accelerate Fund (encourages the participation of New Jersey Entrepreneurs in high-quality accelerator programs, which increase the growing young, innovative companies in the state). These funds, along with other creative programs are being deployed to bring new, innovative business structures and new sectors to New Jersey. In providing these business-friendly strategies, New Jersey is establishing itself as the Innovation State.

III. ELIGIBILITY CRITERIA (If applicable)
Not applicable to this RFI.


IV. RFI RESPONSE QUESTIONS
Please answer all questions that are relevant to you or your company, to the best of your ability. We recognize that many respondents will not be able to answer all questions. Answers to these questions are understood to be preliminary and non-binding.


Applicants are free to structure responses as necessary to increase clarity and efficiency of responses.


A. Description of your role and qualifications within the financial technology industry:
1) Please provide information on your company, group, government entity, or self and your capacity and qualifications within the fintech industry.
2) What is your experience or interaction with New Jersey’s financial and/or technology market (e.g., market presence, licensure status, interaction with regulators or state agencies, etc.)?


B. Mission and Structure of the Center
1) How do you define fintech?
2) If the NJEDA were to put $XM-YM in matching funds for a strategic innovation center, what type of projects/solutions would you bring to the Center? What types of partnership and opportunities would you bring?
3) The Center could be structured several ways, e.g. as an independent 501(c)3, as a partnership with a university, as an accelerator/incubator program. Can you comment on the strengths and shortcomings of these different structures? Are there comparable models in other parts of the country or world that should be considered?
4) What resources (capital, talents, ideas, solutions, etc.) are needed to establish a first-class fintech Center in New Jersey? What does the Center look like?
5) Describe the key factors contributing to the success of a fintech Center?
6) What are the biggest challenges/concerns/gaps in the State’s current fintech ecosystem? How can these challenges/concerns/gaps be addressed with a Center? Please provide specific examples if possible.
7) How substantial are the growth prospects for fintech industry as a whole? Where do you see the sector evolving?
8) How can we position the state for leadership in the fintech industry? What forms of growth might take place here in New Jersey for fintech?
9) What assets/advantages do we have? What resources are necessary for New Jersey to capture a significant share of that growth?
10) Explain how we compete with other states in this sector? What are other states doing that could have a significant positive impact here?


C. Scope and Service Offerings
1) Describe the main activities of the fintech Center.
2) Describe the types of programs/research that you would like to see provided at the Center.
3) Who would be interested in the Center’s research outcomes and solutions?
4) What is the demand for fintech products? Where is this located in the state of New Jersey?
5) How can the Center distinguish itself from other fintech centers in the world?
6) Who are the top 3-5 fintech stakeholders (other than yourself/your organization) that you think NJEDA should be aware of? What type of innovations/programs are they working on? Why should NJEDA be aware of them?


D. Site Location and Development
1) Is it preferable to build a physical location or repurpose/use an existing site?
2) Where should the Center be located? What are the most important factors to consider when selecting a location?

V. QUESTIONS AND ANSWERS (From Respondents to the NJEDA)
All questions concerning this RFI must be submitted in writing no later than 11:59 p.m. ET, on Monday, May 9, 2022 via e-mail to: FinTech@njeda.com
The subject line of the e-mail should state: “QUESTIONS-2022-RFI-OET-PFS-146 New Jersey Financial Technology Innovation Center”


Answers to questions submitted will be publicly posted on the Authority’s website on or about Monday, May 23, 2022 at: https://www.njeda.com/Bidding-Opportunities-General/Economic- Transformation-RFIs as Addendum.


IT IS THE RESPONDENT’S RESPONSIBILITY TO CHECK THIS URL REGULARLY FOR UPDATES.


VI. RESPONSE DETAILS (Info Provided to Respondents Regarding Document Submission)
All RFI responses must be submitted in writing no later than 11:59 p.m. ET, on Monday, June 6, 2022 via e-mail to: FinTech@njeda.com
The subject line of the e-mail should state: “RFI Response-2022-RFI-OET-PFS-146-New Jersey Financial Technology Innovation Center”


VII. FOLLOW-UP QUESTIONS (from NJEDA) / ADDITIONAL INFORMATION
Respondents may be asked to provide additional information to allow the Authority to better understand the responses or services available.


VIII. PROPRIETARY AND/OR CONFIDENTIAL INFORMATION
The Authority reserves the right to copy any information provided by the Respondents. The Authority reserves the right to use ideas that are provided by Respondents, applicants, stakeholders, or vendors. By submitting a Response, the submitter represents that such copying or use of information will not violate any copyrights, licenses, or other agreements with respect to information submitted or product solutions demonstrated, if applicable. Responses must clearly be marked for any information the Respondent deems Proprietary and/or Confidential.


IX. DISCLAIMER / NO OBLIGATION
This RFI is not a request for qualification/proposal. It may or may not result in further action. This RFI is issued solely as a means of gathering information regarding the Authority’s desire to understand the types of products and level of service available in the market to meet the Authority’s needs. Interested parties responding to this RFI do so at their own expense. There will be no monetary compensation from the Authority for the time and effort spent in preparing the response to this RFI. All expenses incurred are the sole responsibility of the Respondent.


Should the Authority decide to move forward and issue an RFQ/P or announce a program/product related to this RFI, Respondents need not have submitted a response to this RFI in order to be eligible to respond to the RFP. Should an RFQ/P be issued, responding to this RFI will not affect scoring or consideration for that process.

The Authority is under no obligation to contact Respondents to this RFI.


X. NEW JERSEY OPEN PUBLIC RECORDS ACT
Respondents should be aware that responses to this RFI are subject to the “New Jersey Open Public Records Act” (N.J.S.A. 47:1A-1 et seq.), as amended and including all applicable regulations and policies and applicable case law, including the New Jersey Right-to-Know law. All information submitted in response to the RFI is considered public information, notwithstanding any disclaimers to the contrary, except as may be exempted from public disclosure by OPRA and the common law.


Any proprietary and/or confidential information submitted in response to this RFI will be redacted by the Authority. A person or entity submitting a response to this RFI may designate specific information as not subject to disclosure pursuant to the exceptions to OPRA found at N.J.S.A. 47:1A-1.1, when such person or entity has a good faith legal and/or factual basis for such assertion (i.e. information that may be included in another ongoing public procurement or solicitation). The Authority reserves the right to make the determination as to what is proprietary or confidential and will advise the person or entity accordingly. The Authority will not honor any attempt to designate the entirety of a submission as proprietary, confidential and/or to claim copyright protection for the entire proposal. In the event of any challenge to the Respondent’s assertion of confidentiality with which the Authority does not concur, the Respondent shall be solely responsible for defending its designation.

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REQUEST FOR INFORMATION (“RFI”)
2022-RFI-Diversity & Inclusion-141
Barriers Minority and/or Women Owned Real Estate Developers Face in Accessing Capital

ADDENDUM #1

  1. INTENT/SUMMARY OF SCOPE

The New Jersey Economic Development Authority (“Authority”, “NJEDA”), is an independent Authority of the State of New Jersey and is seeking information to better understand the challenges faced by minority and women owned developers (“MWDE”) in New Jersey in accessing capital, especially businesses that are engaged in the development of residential and commercial real estate.  Access to capital is critical for the success of any business owner.  A lack of access to capital can impede the ability of business owners to maintain cash flow, cover operating costs, and/or start or expand a business.  Recent studies have found that minority and women-owned businesses have greater difficulty gaining access to capital than other businesses.   One study reported that 82% of entrepreneurs of color say they must work harder compared to their non-diverse peers.  Another study found almost 60% of women entrepreneurs say they do not have the same access to capital as their male counterparts.  A report in Chicago noted that MBE developers face several hurdles, including poor access to and high cost of debt capital, and weak ties to sources of equity funding.

Governor Murphy and the NJEDA are exploring a diverse developer fund to help grow existing MBWE developers by addressing barriers to capital.  The purpose of this Request for Information (“RFI”) is to inform the fund’s guidelines. The NJEDA is seeking information and ideas from qualified entities (“Respondents”), including but not limited to minority and/or women-owned developers, Community Development Finance Institutions, community development lending units of medium and large banks, other mission-based lenders, community development organizations that work closely with MWDE developers,  state and local government entities, and other stakeholders with perspectives on structural barriers and disparities encountered by real estate developers owned by minorities and/or women in terms of access to capital. The NJEDA also seeks interest and ideas on solutions to address those obstacles, including but not limited to, existing programs that address the disparities in financing available for residential and commercial development.  The NJEDA is interested in receiving comments, questions, recommendations, facts, information, ideas, and responses that will help the NJEDA better understand the scope and characteristics of access to capital and other forms of financing available to underserved real estate developers.

2. BACKGROUND

The New Jersey Economic Development Authority serves as the State’s principal agency for driving economic growth.  The Authority 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 Authority 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.

In The State of Innovation, Building a Stronger and Fairer Economy in New Jersey, the State’s comprehensive Economic Development Plan released in October 2018, Governor Murphy reiterated the importance of supporting the small business community in New Jersey, which employs more than 50% of New Jersey residents. Two of the five explicit goals of the plan are “Closing the racial and gender wage gaps and Encouraging thriving and inclusive New Jersey urban centers and downtowns, with a focus on reducing poverty.” Governor Murphy’s plan also committed to a New Jersey future that supports all the State’s businesses, specifically calling out the importance of ensuring that underserved businesses have enhanced access to the capital, programs, and networks that they need to successfully start and scale their businesses.   

This RFI focuses on the challenges faced by, and potential solutions for increasing capital available to underserved developers and is one of several steps being taken by the Authority and the Murphy Administration to address the goals of the State’s Economic Development plan. Understanding the importance of addressing the existing barriers to create a stronger and fairer economy, NJEDA will continue to engage and connect with other state entities to determine additional resources that may be utilized in reducing the necessary capital needed to acquire/rehabilitate proposed project(s), including:

  • New Jersey Housing and Mortgage Finance Agency (“NJHMFA”), which provides financing, and access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs;
  • The New Jersey Redevelopment Authority (“NJRA”), which operates as a catalyst to improve the quality of life by creating value in New Jersey’s urban communities; and
  • The Department of Community Affairs (“DCA”), which aims to provide administrative guidance, financial support and technical assistance to local governments, community development organizations, businesses and individuals to improve the quality of life in New Jersey.

3. ELIGIBILITY CRITERIA (If applicable)

This section is not applicable to this RFI.

4. RFI RESPONSE QUESTIONS

Please answer all questions below that are relevant to you or your organization, to the best of your ability. You can but need not answer any question that does not pertain to you or your organization.  Feel free to structure your response and add information beyond these questions to increase clarity and efficiency.  Answers to these questions are understood to be preliminary and non-binding.

  1. What current obstacles in public and private funding programs should this fund address?
  2. Have you observed business practices that provide differential challenges to MWDE real estate developers compared to their professional peers? For example, have you observed business practices and/or standards that result in different interest rates quoted; joint venture equity stakes sought; underwriting standards used; debt-coverage ratios set or reserves required; fees charged; personal income or asset thresholds utilized; legal standards applied; surety bonds required; or other business practices that increase the cost of debt, make credit harder to obtain, devalue contributed equity or require greater equity contributions, or otherwise differentially constrain economic opportunity for MWDE real estate developers?
  3. If there are differential business practices you have observed, which have had – or continue to have – the greatest negative effect on your ability to advance real estate projects?
  4.  At what project stage do MWDE developers most need capital?  
  5. The fund is exploring a number of eligible uses and investments.  Please rate each of the potential uses on a scale of 1 to 5 (with 5 being the most critical) in addressing barriers to capital for MWDE developers:

a. Acquisition                                                 ______

b. Early Stage/Predevelopment                      ______

c. Subordinate Debt                                       ______

d. Guarantee                                                ______

e. Tax Credit Bridge Loan                               ______

f. Other    ___________________                       ______

6. Are there existing programs or models across the country that this fund should emulate? For example, are there credit enhancement models that you have observed in other states, at the Federal level, or in other program settings that could offer a model for MWDE credit enhancement and that could be implemented in New Jersey?

7. What range of project size, or total development cost (inclusive of acquisition), should this fund target? 

a. Under $1 million

b. $1 to $5 million

c. Over $5 million

8. What should the maximum loan to cost ratio be for investments?

9. What should the maximum interest rate be for any loan or equity investment?

10. What should the maximum repayment term, or length of loan in years, be?

11. Which types of projects should be eligible (Please circle as many as you wish)? 

a. Market rate residential or commercial

b. Affordable Housing

c. Acquisition of Existing Asset

d. Community facility

e. Other 

12. Which communities/municipalities should this fund target?  Why?

13. Are there existing lending programs that this fund should be leveraged with?

14. Are there existing partners that the fund should collaborate with?  How? 

15. What other policy measures will help the fund succeed?

Additionally, please provide the following personal information:

16. Please provide information on your company, group, government entity, or self and your experience, capacity and qualifications with respect to MWDE Developers and/or their access to capital.

17. What is your experience with, and understanding of, the real estate development environment, both private and public, specifically in New Jersey?

18. Please include prior experience related to real estate development, inclusive of residential and commercial properties.

5. QUESTIONS AND ANSWERS (From Respondents to the EDA)

All questions concerning this RFI must be submitted in writing no later than Friday, May 6, 2022 via e-mail to: MWDE-BarriersRFI@njeda.com.

The subject line of the e-mail should state: “QUESTIONS-2022 RFI-DI-141 – MWDE RE BARRIERS”.

Answers to questions submitted will be publicly posted on the Authority’s website under the RFIs section, on or about Friday, May 13, 2022.

IT IS THE RESPONDENT’S RESPONSIBILITY TO CHECK THIS URL REGULARLY FOR UPDATES.

6. RESPONSE DETAILS (Info Provided to Respondents Regarding Document Submission)

All RFI responses must be submitted in writing no later than 11:59 PM EST, on Friday, May 27, 2022 via e-mail to: MWDE-BarriersRFI@njeda.com.

The subject line of the e-mail should state: “RFI Response-2022-RFI-DI-141 – MWDE DEVELOPER BARRIERS.”

7. FOLLOW-UP QUESTIONS (from EDA) / ADDITIONAL INFORMATION

Respondents may be asked to provide additional information to allow the Authority to better understand the responses.

8. PROPRIETARY AND/OR CONFIDENTIAL INFORMATION

The Authority reserves the right to copy any information provided by the Respondents.  The Authority reserves the right to use ideas that are provided by or through Respondents.  By submitting a Response, the Respondent represents that such copying or use of information will not violate any copyrights, licenses, or other agreements with respect to information submitted or product solutions demonstrated, if applicable.  Responses must clearly be marked for any information the Respondent deems Proprietary and/or Confidential.

9. DISCLAIMER / NO OBLIGATION

This RFI is not a request for qualification/proposal.  It will not result in a contract award.  It may or may not result in any further action.

This RFI is issued solely as a means of gathering information. Interested parties responding to this RFI do so at their own expense.  There will be no monetary compensation from the Authority for the time and effort spent in preparing the response to this RFI.  All expenses incurred are the sole responsibility of the Respondent.

Should the Authority decide to move forward and issue an RFQ/P or announce a program/product related to this RFI, Respondents need not have submitted a response to this RFI in order to be eligible to respond to the RFQ/PP.  Should an RFQ/P be issued, responding to this RFI will not affect scoring or consideration for that process.

The Authority is under no obligation to contact Respondents to this RFI.

10. NEW JERSEY OPEN PUBLIC RECORDS ACT

Respondents should be aware that responses to this RFI are subject to the “New Jersey Open Public Records Act” (N.J.S.A. 47:1A-1 et seq.), as amended and including all applicable regulations and policies and applicable case law, including the New Jersey Right-to-Know law.  All information submitted in response to the RFI is considered public information, notwithstanding any disclaimers to the contrary, except as may be exempted from public disclosure by OPRA and the common law.

A person or entity submitting a response to this RFI may designate specific information as not subject to disclosure pursuant to the exceptions to OPRA found at N.J.S.A. 47:1A-1.1, when such person or entity has a good faith legal and/or factual basis for such assertion (i.e. information that may be included in another ongoing public procurement or solicitation).  The Authority reserves the right to make the determination as to what is proprietary or confidential and will advise the person or entity accordingly.  The Authority will not honor any attempt to designate the entirety of a submission as proprietary, confidential and/or to claim copyright protection for the entire proposal.  In the event it receives an OPRA request that encompasses the response, the Authority will redact any information that is not subject to OPRA, including proprietary and/or confidential information.  In the event of any challenge to the Respondent’s assertion of confidentiality with which the Authority does not concur, the Respondent shall be solely responsible for defending its designation.

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SOLICITUD DE INFORMACIÓN (“RFI”)  
2022-RFI-Diversidad e Inclusión-141 

Barreras que enfrentan los desarrolladores inmobiliarios propiedad de minorías o mujeres para acceder al capital 
ADDENDUM #1

  1. INTENCIÓN/RESUMEN DEL ALCANCE 

La Autoridad para el Desarrollo Económico de New Jersey (“Autoridad”, “NJEDA”) es una autoridad independiente del Estado de New Jersey y está buscando información para entender mejor los desafíos que enfrentan los desarrolladores propiedad de minorías y mujeres (“MWDE”, por sus siglas en inglés) en New Jersey para acceder al capital, en especial las empresas que participan en el desarrollo de inmuebles residenciales y comerciales. El acceso al capital es fundamental para el éxito de cualquier comerciante. La falta de acceso al capital impide la posibilidad de que los comerciantes mantengan el flujo de efectivo, cubran los costos operativos o inicien o expandan un negocio. En estudios recientes se concluyó que los negocios que son propiedad de minorías y mujeres tienen más dificultad para acceder al capital que otras empresas.  En un estudio se informó que el 82% de los emprendedores de color dicen que deben trabajar más arduamente en comparación con sus pares de grupos mayoritarios. En otro estudio se descubrió que casi el 60% de las mujeres emprendedoras sostienen que no tienen el mismo acceso al capital que sus homólogos de sexo masculino. En un informe de Chicago, se observó que los desarrolladores de empresas propiedad de minorías enfrentan varios obstáculos, incluidos el acceso deficiente y el alto costo del capital en títulos de deuda, y conexiones débiles con las fuentes de financiación con recursos propios.  

El gobernador Murphy y la NJEDA están analizando la posibilidad de instaurar un fondo para desarrolladores de grupos minoritarios para ayudar al crecimiento de los desarrolladores propiedad de minorías o mujeres ya existentes al abordar las barreras al capital. El propósito de esta Solicitud de información (“RFI”, por sus siglas en inglés) es informar las pautas para el fondo. La NJEDA está buscando información e ideas de las entidades calificadas (“Encuestados”), incluidos, entre otros, los desarrolladores propiedad de minorías o mujeres, las Instituciones Financieras de Desarrollo Comunitario, las unidades de préstamo para desarrollo comunitario de bancos medianos y grandes, otros prestamistas por misión, las organizaciones de desarrollo comunitario que trabajan cerca de los desarrolladores propiedad de minorías o mujeres, y otras partes interesadas con perspectivas en las barreras y disparidades estructurales que encuentran los desarrolladores inmobiliarios propiedad de minorías o mujeres en términos de acceso al capital. La NJEDA también busca generar interés y recibir ideas sobre soluciones para abordar dichos obstáculos, incluidos, entre otros, los programas existentes que abordan las disparidades en el financiamiento disponible para el desarrollo residencial y comercial. A la NJEDA le interesa recibir comentarios, preguntas, recomendaciones, datos, información, ideas y respuestas que ayudarán a que la NJEDA entienda mejor el alcance y las características del acceso al capital y otras formas de financiación disponibles para los desarrolladores inmobiliarios marginados. 

  1. ANTECEDENTES 

La Autoridad para el Desarrollo Económico de New Jersey presta servicios como organismo principal del Estado para impulsar el crecimiento económico. La Autoridad se compromete a hacer que New Jersey sea un modelo para todo el país de desarrollo económico inclusivo y sustentable al enfocarse en estrategias claves para ayudar a construir comunidades fuertes y dinámicas, crear buenos empleos para los residentes de New Jersey y ofrecer caminos a una economía más fuerte y más justa. Mediante asociaciones con una diversa gama de partes interesadas, la Autoridad crea e implementa iniciativas para mejorar la vitalidad económica y la calidad de vida en el Estado y fortalecer la competitividad económica a largo plazo de New Jersey. 

En The State of Innovation, Building a Stronger and Fairer Economy in New Jersey (por su significado en inglés, El estado de la innovación: cómo construir una economía más fuerte y más justa en New Jersey), el Plan de Desarrollo Económico integral del Estado publicado en octubre de 2018, el gobernador Murphy reiteró la importancia de apoyar a la comunidad de pequeñas empresas de New Jersey, que emplea a más del 50% de los residentes de New Jersey. Dos de las cinco metas explícitas del plan son “Cerrar las grietas del ingreso por raza y género” y “Alentar los centros urbanos y centros comerciales prósperos e inclusivos de New Jersey, enfocándonos en reducir la pobreza”. En el plan, el gobernador Murphy también se comprometió con un futuro para New Jersey que apoye a todas las empresas del Estado resaltando la importancia de asegurar que se mejore el acceso al capital, los programas y las redes de los comercios marginados que necesitan iniciar con éxito y escalar sus negocios.   

Esta solicitud de información se enfoca en los desafíos que enfrentan y en las posibles soluciones para mejorar el capital disponible para los desarrolladores marginados, y es uno de los varios pasos que dieron la Autoridad y la administración Murphy para abordar las metas del plan de desarrollo económico del Estado. Al entender la importancia de abordar las barreras existentes para crear una economía más fuerte y más justa, la NJEDA seguirá participando y conectándose con otras entidades estatales para determinar más recursos que se puedan utilizar para reducir el capital necesario que se necesita para adquirir o rehabilitar los proyectos propuestos, incluso: 

  • La Agencia Financiera para Viviendas e Hipotecas de New Jersey (“NJHMFA”, por sus siglas en inglés), que brinda financiamiento y acceso a viviendas de alquiler asequibles y oportunidades para convertirse en propietarios de viviendas para familias de ingresos bajos a moderados, adultos mayores y personas con necesidades de viviendas especializadas; 
  • La Autoridad para el Redesarrollo de New Jersey (“NJRA”, por sus siglas en inglés), que opera como catalizador para mejorar la calidad de vida creando valor en las comunidades urbanas de New Jersey; y 
  • El Departamento de Asuntos Comunitarios (“DCA”, por sus siglas en inglés), que apunta a dar orientación administrativa, apoyo financiero y asistencia técnica a los gobiernos locales, organizaciones de desarrollo comunitario, empresas e individuos para mejorar la calidad de vida en New Jersey. 
  1. CRITERIOS DE ELEGIBILIDAD (si corresponde) 

Esta sección no corresponde para esta Solicitud de información. 

  1. PREGUNTAS PARA RESPONDER A LA SOLICITUD DE INFORMACIÓN 

Responda todas las preguntas siguientes que sean pertinentes para usted o su organización, lo mejor que pueda. Puede responder cualquier pregunta que no sea pertinente para usted o su organización, pero no es obligatorio. No dude en estructurar su respuesta y agregar información más allá de estas preguntas para mejorar la claridad y eficiencia. Las respuestas a estas preguntas se consideran preliminares y no son vinculantes. 

  1. ¿Cuáles son los obstáculos actuales en los programas de financiamiento público y privado que debería abordar este fondo?  
  1. ¿Ha observado algunas prácticas comerciales que generen desafíos por hacer diferencias con los desarrolladores inmobiliarios propiedad de minorías o mujeres en comparación con sus homólogos profesionales? Por ejemplo, ¿ha observado prácticas o normas comerciales que tengan como resultado la cotización de tasas de interés distintas, que se busquen participaciones en acciones en uniones transitorias de empresas, que se utilicen normas de suscripción de títulos valores, que se fijen cocientes de cobertura de deuda, que se apliquen normas legales, que se exijan cauciones personales, u otras prácticas comerciales que incrementen el costo de la deuda, que dificulten la obtención de créditos o que de otra manera hagan diferencias para restringir las oportunidades económicas para los desarrolladores inmobiliarios propiedad de minorías o mujeres? 
  1. Si observó que existen prácticas comerciales que hacen diferencias, ¿cuáles tuvieron, o siguen teniendo, el mayor impacto negativo en su capacidad de avanzar en los proyectos inmobiliarios? 
  1. ¿En qué etapa del proyecto los desarrolladores propiedad de minorías o mujeres necesitan más el capital?    
  1. Para el fondo se están explorando diversos usos e inversiones elegibles. Califique cada uno de los posibles usos en una escala del 1 al 5 (donde 5 es el más fundamental) para abordar las barreras al capital para los desarrolladores propiedad de minorías o mujeres: 

a. Adquisición ______ 

b. Etapa inicial/Predesarrollo ______ 

c. Deuda subordinada ______ 

d. Garantía ______ 

e. Préstamo puente por crédito fiscal ______ 

f. Otros ___________________ ______ 

  1. ¿Existen programas o modelos en el país que este fondo deba emular? Por ejemplo, ¿hay modelos de mejoramiento crediticio que usted haya observado en otros estados, a nivel federal o en otros entornos de programa, que podrían ser un modelo para el mejoramiento crediticio de las empresas propiedad de minorías o mujeres y que se podrían implementar en New Jersey? 
  1. ¿A qué rango de tamaño de proyecto o costo total de desarrollo (incluida la adquisición) debería apuntar este fondo?   

a. Menos de $1 millón 

b. De $1 a $5 millones 

c. Más de $5 millones  

  1. ¿Cuál debería ser el préstamo máximo según el cociente de costo para las inversiones? 
  1. ¿Cuál debería ser la tasa máxima de interés para cualquier préstamo o inversión en capital? 
  1. ¿Cuál debería ser el plazo máximo de reintegro o cuántos años debería durar un préstamo?  
  1. ¿Qué tipos de proyectos cumplirían los requisitos (marque con un círculo tantos como desee)?   

a. Proyectos residenciales o comerciales a las tasas del mercado 

b. Viviendas asequibles 

c. Adquisición de activos existentes  

d. Instalaciones comunitarias 

e. Otros   

  1. ¿A qué comunidades o municipalidades debería destinarse este fondo?  ¿Por qué?  
  1. ¿Hay algún programa de préstamo existente que se debería apalancar con este fondo?  
  1. ¿Hay algún socio existente con el que el fondo debería colaborar?  ¿Cómo?   
  1. ¿Qué otras medidas en cuanto a políticas ayudarán a que el fondo tenga éxito?  

Además, denos la siguiente información personal: 

  1. Denos información sobre su empresa, grupo, entidad gubernamental o sobre su persona y experiencia, capacidad y formación con respecto a los Desarrolladores propiedad de minorías o mujeres o su acceso al capital. 
  1. ¿Cuál es su experiencia y entendimiento del entorno de desarrollos inmobiliarios, tanto privado como público, específicamente en New Jersey?  
  1. Incluya la experiencia anterior relacionada con el desarrollo inmobiliario, incluso de propiedades residenciales y comerciales. 
  1. PREGUNTAS Y RESPUESTAS (De los Encuestados a la Administración de Desarrollo Económico [EDA, por sus siglas en inglés]) 

Todas las preguntas referidas a esta Solicitud de información se deben presentar por escrito hasta el viernes 6 de mayo de 2022 por correo electrónico a: MWDE-BarriersRFI@njeda.com. 

En la línea de asunto del correo electrónico debe decir: “PREGUNTAS-2022 RFI-DI-141 – ASUNTO BARRERAS PARA LAS MWDE”. 

Las respuestas a las preguntas enviadas se publicarán para el público en el sitio web de la Autoridad bajo la sección Solicitudes de información, alrededor del viernes 13 de mayo de 2022

ES RESPONSABILIDAD DEL ENCUESTADO REVISAR ESTE URL CON REGULARIDAD EN BUSCA DE ACTUALIZACIONES. 

  1. DETALLES DE LAS RESPUESTAS (Información dada a los encuestados con respecto a la presentación de documentos) 

Todas las respuestas deben enviarse por escrito a más tardar a las 11:59 p.m. Hora del Este, el viernes 27 de mayo de 2022 por correo electrónico a: MWDE-BarriersRFI@njeda.com

En la línea de asunto del correo electrónico debe decir: “Respuesta a la Solicitud de información-2022-RFI-DI-141 – BARRERAS PARA DESARROLLADORES MWDE”. 

  1. PREGUNTAS DE SEGUIMIENTO (de la EDA) / INFORMACIÓN ADICIONAL 

Se puede pedir a los encuestados que brinden más información para que la Autoridad entienda mejor las respuestas. 

  1. INFORMACIÓN PROPIETARIA O CONFIDENCIAL 

La Autoridad se reserva el derecho de copiar cualquier información suministrada por los Encuestados. La Autoridad se reserva el derecho de usar las ideas aportadas por o a través de los Encuestados. Al presentar una Respuesta, el Encuestado manifiesta que tal copia o uso de la información no infringirá ningún derecho de propiedad intelectual, licencia ni otros acuerdos con respecto a la información presentada ni a las soluciones para productos demostradas, si corresponde. En las respuestas el Encuestado debe marcar con claridad cualquier información que considere Propietaria o Confidencial. 

  1. EXENCIÓN DE RESPONSABILIDAD/NO OBLIGACIÓN 

La Solicitud de información no es una solicitud para calificar ni proponer. No tendrá como resultado la asignación de un contrato. Puede tener como consecuencia o no otra acción. 

Esta Solicitud de información se emitió solo como medio para reunir información. Las partes interesadas que respondan a esta Solicitud de información lo hacen a su propio cargo. No habrá ninguna compensación monetaria por parte de la Autoridad por el tiempo y esfuerzo dedicados a la preparación de la respuesta a esta Solicitud de información. Todos los gastos en que se incurra son responsabilidad exclusiva del Encuestado. 

Si la Autoridad decide avanzar y emitir una Solicitud de calificaciones o propuestas (RFQ/P, por sus siglas en inglés) o anunciar un programa o producto relacionado con esta Solicitud de información, los Encuestados deberán no haber presentado una respuesta a esta Solicitud de información para cumplir los requisitos para responder a las Solicitudes de calificaciones o propuestas. Si se emite una Solicitud de calificaciones o propuestas, responder a esta Solicitud de información no afectará la puntuación ni la consideración para ese proceso. 

La Autoridad no está obligada de ningún modo a comunicarse con los Encuestados que respondan esta Solicitud de información. 

  1. LEY DE REGISTROS PÚBLICOS ABIERTOS DE NEW JERSEY 

Los Encuestados deben estar conscientes de que las respuestas a esta Solicitud de información están sujetas a la “Ley de registros públicos abiertos de New Jersey” (N.J.S.A. 47:1A-1 y sig.), y sus enmiendas, incluidas todas las normas y políticas aplicables y la jurisprudencia aplicable, incluida la ley del Derecho a saber de New Jersey. Toda la información presentada en respuesta a la Solicitud de información se considera información pública, independientemente de cualquier exención de responsabilidad que sostenga lo contrario, excepto como se pueda eximir de la divulgación pública mediante la Ley de registros públicos abiertos (OPRA, por sus siglas en inglés) y el derecho consuetudinario. 

Toda persona o entidad que presente una respuesta a esta Solicitud de información puede designar información específica como no sujeta a divulgación de acuerdo con las excepciones a la Ley de registros públicos abiertos que se encuentran en N.J.S.A. 47:1A-1.1, cuando dicha persona o entidad se fundamente en la buena fe, la ley o los hechos para tal declaración (es decir, información que puede estar incluida en otra adquisición o requerimiento público actual). La Autoridad se reserva el derecho de determinar qué es propietario o confidencial y asesorará a la persona o entidad en consecuencia. La Autoridad no respetará ningún intento de designar la totalidad de una presentación como propietaria o confidencial ni reclamará la protección de derechos intelectuales de la propuesta total. En caso de que reciba una solicitud de la Ley de registros públicos abiertos que abarque la respuesta, la Autoridad redactará cualquier información que no esté sujeta a dicha Ley, incluida la información propietaria o confidencial. En caso de cualquier cuestionamiento a la declaración de confidencialidad del Encuestado con la que la Autoridad no esté de acuerdo, el Encuestado será el único responsable de defender tal designación. 

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Build Back Better Regional Challenge

On September 16, 2021 Governor Phil Murphy and NJEDA announced the NJEDA’s participation in four regional coalitions preparing applications for the U.S. Economic Development Authority’s Build Back Better Regional Challenge. The Challenge is a federal grant program to help communities adopt and implement transformational, industry-based economic development strategies that strengthen economic diversity and resiliency in the wake of the COVID-19 pandemic. Applications must be centered around developing or growing a regional industry cluster, with a long-term transformational vision and a plan for execution. Applicants for the Challenge act as a regional coalition with one lead entity per application.  The four coalitions that NJEDA has joined focus on regional industry clusters that are part of Governor Murphy’s Stronger and Fairer Economic Plan, including biomanufacturing, clean energy, aviation, and smart ports.

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Kathleen Coviello
Kathleen Coviello
Chief Economic Transformation Officer


kcoviello@njeda.com
609-743-0097
Bill Penders
Managing Director
Strategic Sector Development
wpenders@njeda.com
609-731-0974
David Ramsay
Manager
Project Officers
dramsay@njeda.com
609-690-1376
Erica Breiterman
Sector Lead
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ebreiterman@njeda.com
609-256-3830
Kara Moore
Senior Advisor
kmoore@njeda.com
609-306-2648
Robert Savarese
Sector Lead
Life Sciences
rsavarese@njeda.com
609-649-7020
Doug Yorke
Douglas Yorke
Sector Lead
Advanced Manufacturing 

dyorke@njeda.com
609-203-9891
Daryl Isherwood
Senior Advisor
Film, Digital & Economic Growth Communications
disherwood@njeda.com
609-306-3550
jonathan ward
Director
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jward@njeda.com
609-731-3227
Sandy Chu
Director Sector Lead Financial & Professional Services
schu@njeda.com
609-273-9244

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