Transportation and Logistics Archives

Program Makes up to $75,000 Available to Companies Furthering Clean Tech R&D

TRENTON, N.J. (February 8, 2021) – The New Jersey Commission on Science, Innovation and Technology (CSIT) today opened the application for its Clean Tech Seed Grant Program. The program will help accelerate development and innovation of clean technologies by furthering research and development (R&D) within the Garden State’s clean technology startup community. CSIT developed the program in coordination with the New Jersey Board of Public Utilities (NJBPU) and the New Jersey Economic Development Authority (NJEDA). The application is available at: https://application.njeda.com/csit

The Clean Tech Seed Grant Program provides grants for R&D activities to very early-stage, New Jersey-based clean technology companies. Specifically, the program will fund projects that are developing or testing clean technologies intended to recapture or avoid emissions of greenhouse gases and/or criteria pollutants, or to enable such avoidance or recapture. The following technology areas are eligible under the program: Chemicals/Advance Materials, Energy Distribution/Storage, Energy Efficiency, Energy Generation, Green Buildings, Transportation, Waste Processing, and Water and Agriculture.

These grants will help businesses continue their work toward the proof of concept and prototyping stages, at which point they can more readily attract outside investors and, in some cases, begin to generate revenue.

CSIT hosted an informational webinar last month on the Clean Tech Seed Grant Program. During the webinar, CSIT Executive Director Judith Sheft offered tips and advice to entrepreneurs that were considering applying to the program. A recording of the webinar can be found here.

The application will be open until April 5, 2021 at 4:00 p.m. or until the program receives 50 completed applications, whichever comes first. Qualified applicants can receive up to $75,000 in grants through the Clean Tech Seed Grant Program and the total funding for this initial pilot program is $750,000. The funding is being provided through NJBPU’s Clean Energy Program.
Complete program eligibility requirements can be found at https://www.njeda.gov/clean-tech-grant.

Applications from businesses located in an Opportunity Zone-eligible census tract, minority- or woman-owned businesses or businesses with technology coming out of New Jersey universities are all eligible for bonus points with respect to the scoring criteria.

About CSIT

In August 2018, Governor Murphy signed legislation re-establishing the former New Jersey Commission on Science and Technology as the CSIT. Comprised of representatives from the public and private sectors, as well as academia, the Commission is tasked with leading the way in promoting the state as a home for academic and technological research, development, and commercialization.

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New Program Incentivizes Use of Zero-Emission Vehicles in Camden and Newark

TRENTON, N.J. (January 15, 2020) – The New Jersey Economic Development Authority (NJEDA) Board of Directors today approved the New Jersey Zero Emission Incentive Program (NJ ZIP). 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). Bonuses will be available for small businesses and minority-, women-, and veteran-owned businesses. The NJEDA anticipates launching the program in the coming months.

“NJ ZIP brings a tried-and-true model for increasing the adoption and use of zero emission vehicles to New Jersey, with a focus on reducing emissions in the greater Camden and Newark areas,” said Governor Phil Murphy. “This is a critical step toward our environmental justice initiatives that I hope will spark the widespread adoption of zero emission vehicles across the state.”

“The adoption of zero emission vehicles will reduce dangerous emissions within the greater Newark and Camden communities and drive future economic growth by creating jobs critical to supporting and accelerating adoption of these vehicles,” said NJEDA Chief Executive Officer Tim Sullivan. “NJ ZIP moves us closer to these goals by providing a new resource that will enable businesses and institutions to invest in zero emission vehicles. We will look to learn from this initial pilot program in two of the most over-burdened communities in our state, near major ports and transportation hubs; and if successful, we will look to expand to other regions.”

“Increasing the use of zero emissions vehicles is central to achieving the targets set out in the Energy Master Plan and the RGGI Strategic Funding Plan,” said NJBPU President Joseph L. Fiordaliso. “NJ ZIP moves us toward these goals, in parallel with our other EV programs such as Charge Up New Jersey and hand-in-hand with Governor Murphy’s vision for a cleaner, healthier energy future.”

“Together, we can spark real and lasting change to reduce greenhouse gases from New Jersey’s cars and trucks,” said New Jersey Department of Environmental Protection Commissioner Catherine R. McCabe. “Transportation is by far the largest source of greenhouse gas emissions in New Jersey, and most of these emissions come from commercial vehicles. NJ ZIP will enable businesses of all sizes, with a special emphasis on micro and small businesses, to replace their current medium duty vehicles with zero emission alternatives. Together with the DEP’s grant program, this important initiative will protect our environment, improve public health, and advance Governor Murphy’s environmental justice and clean energy goals.”

Transportation accounts for 42 percent of greenhouse gas emissions in New Jersey; more than double the emissions from the second largest source. Specifically, medium and heavy-duty vehicles (MHDVs) contribute the majority of New Jersey’s transport-sector emissions. For this reason, increasing the use of zero emission vehicles is central to many State plans for protecting the environment, including Governor Phil Murphy’s Economic Development Strategic Plan, New Jersey’s Energy Master Plan, and the RGGI Strategic Funding Plan.

NJ ZIP is the first initiative in the State’s holistic, RGGI-funded effort to support the deployment of zero emission MHDVs. The pilot program approved today 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. More information is available at https://www.njeda.gov/njzip.

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.

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

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (July 10, 2020) – As part of its efforts to establish New Jersey as a zero emission transportation hub, the New Jersey Economic Development Authority (NJEDA) today issued a Request for Information (RFI) seeking perspectives on electric medium and heavy-duty vehicles (MDHVs). Input from industry and communities will help to inform the use of proceeds from the Regional Greenhouse Gas Initiative (RGGI), which are earmarked for climate change reduction, environmental justice and clean energy. Responses to the RFI are due no later than 5:00 PM EST on August 14^th, 2020. The RFI is available at /wp-content/uploads/pdfs/rfps/RFI098/2020-RFI-OET-TL-098_Commercial-ZE-MHDV_200709.pdf
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“With its strategic location along the North East corridor and extensive transportation assets, including the nation’s second busiest port and second densest road and rail network, New Jersey depends more than any other state on its ability to move people and goods safely, efficiently, and cleanly. Transportation electrification will help protect New Jersey residents from harmful emissions and pollutants that disproportionately impact environmental justice communities, and will create new opportunities for businesses and workers,” said NJEDA Chief Executive Officer Tim Sullivan. “The RFI released today will allow us to hear directly from commercial vehicle owner-operators, manufacturers, related supply chain businesses, and community representatives about their plans and needs so we can craft the right programs to accelerate electrification and localize investment. This is particularly pressing now, as we work to address the health and economic impacts of COVID-19.”

On January 29, 2018, Governor Murphy signed Executive Order 7 (EO 7), instructing state government agencies to return New Jersey to full participation in the Regional Greenhouse Gas Initiative (RGGI). RGGI is a multi-state, market-based program that establishes a regional cap on carbon dioxide (CO2) emissions from the electric power generation sector allowing for auctioning of emissions rights. New Jersey’s participation in RGGI will provide the State with quarterly auction proceeds that are divided among the NJEDA, New Jersey Department of Environmental Protection (NJDEP), and New Jersey Board of Public Utilities (NJBPU). The State’s inaugural RGGI strategic funding plan, released in April 2020, includes plans to invest an estimated $80 million each year in programs that reduce greenhouse gas emissions, drive forward projects that boost clean energy and create jobs, protect the health of residents in environmental justice communities, and increase the resiliency of coastal communities.

“Helping New Jersey become a zero emission vehicle state is necessary to avoid the worst impacts of climate change. It is also important to improve air quality, especially in communities already overburdened by pollution,” said NJDEP Commissioner Catherine R. McCabe. “Currently, transportation accounts for the largest share, more than 40 percent, of greenhouse gas emissions in New Jersey. The RFI released by the NJEDA today is a critical step toward crafting new programs that will build on the Murphy Administration’s efforts to reduce these emissions, to protect our communities and economy from the harmful effects of climate change.”

Electrifying New Jersey’s commercial transportation sectors will play a central role in achieving Governor Murphy’s goal of reducing GHG emissions 80 percent by 2050, which is a major component of the New Jersey Energy Master Plan. In addition to the environmental benefits, cleaning New Jersey’s transportation fleets will also create new jobs and attract investments in the Garden State. Some reporting has assessed that the electric vehicle supply chain market is worth more than $160 billion globally and is growing at a compound rate of close to 25 per cent each year. Tapping into this market will provide significant economic benefits for businesses and workers in New Jersey.

“Increasing the use of zero emission medium and heavy-duty vehicles in New Jersey will improve public health by cutting down on dangerous emissions, reduce electricity costs for all by using the grid more efficiently, and protect consumers from unpredictable fuel costs,” said NJBPU President Joseph L. Fiordaliso. “The information gathered through this RFI will move us closer to achieving Governor Murphy’s goal of 100 percent clean energy and will ensure the State provides the right support industry and businesses need to quickly adopt zero emission MHDVs.”

The RFI released today solicits input from owners, operators, manufacturers and other supply chain businesses, environmental justice advocates, impacted communities, researchers, and other stakeholders to help inform future programming based on RGGI auction proceeds.

Responses to the RFI must be submitted via e-mail to: RFI-MHDVelectrification@njeda.com no later than 5:00 PM EST on August 14^th, 2020 with the subject line “RFI Response-2020-RFI-OET-TL-098.”

All questions concerning the RFI must be submitted via e-mail to: RFI-MHDVelectrification@njeda.com no later than 5:00PM EST, on July 22^nd, 2020 with the subject line “Questions-2020-RFI-OET-TL-098.” Answers will be publicly posted on the Authority’s website on or about July 24^th, 2020 at: https://www.njeda.gov/Bidding-Opportunities-General/Economic-Transformation-RFIs.

Related Work and Procurements

In parallel to the RFI, the NJEDA recently issued a Request for Qualifications/Proposals (RFQ/P) for zero-emission MHDV market study and programmatic consulting services. The complete RFQ/P is available at https://www.njeda.gov/IPMBidding#104.

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 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan

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TRENTON, N.J. (February 11, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that it approved 161 applications for investments into 32 emerging technology life sciences companies through the state’s Angel Investor Tax Credit Program in 2019. This represents the injection of $33.1 million in private capital into the State’s innovation ecosystem. More than 120 of the applications, totaling nearly $22 million in investments, were approved in the fourth quarter of the year alone.

Since the program’s inception, the NJEDA has approved 1,322 applications for the injection of $549 million into 94 New Jersey-based technology and life sciences businesses.

New Jersey’s Angel Investor Tax Credit Program offers investors refundable tax credits against qualified investments for New Jersey businesses. The program supports technology businesses with a physical presence in New Jersey that conduct research, manufacturing, or technology commercialization in the state. Seen as a means to not only invest in emerging companies but also attract capital into the New Jersey, the Angel Investor Tax Credit Program is open to investors throughout the world, not just those located in the Garden State.

Investors participating in the program in 2020 will benefit from an expansion of the program signed into legislation by Governor Phil Murphy in July 2019.

Changes to the program, which are in effect for investments made after January 1, 2020, include doubling the tax credit that investors can receive – from 10 to 20 percent of a qualified investment. An additional five percent bonus has been added to the program for investments in a business located in a qualified opportunity zone, low-income community, or a business that is certified as minority- or women-owned by the State.

“Attracting investments into early-stage New Jersey companies is pivotal to Governor Murphy’s vision of creating the most diverse and inclusive innovation ecosystem, one centered around the Garden State’s talented workforce,” said NJEDA Chief Executive Officer Tim Sullivan. “We anticipate increased interest in the Angel Investor Tax Credit Program in 2020, as investors realize the benefits these impactful program enhancements have on their investments into emerging New Jersey companies.”

The following companies were among nine technology and life sciences businesses that were new to the program in the fourth quarter of 2019:

Radius8, Inc., located in Princeton, is a local engagement platform that delivers hyper-local digital experiences to create new commerce opportunities for any enterprise with physical locations and digital channels. The company sees these experiences as necessary to meet today’s industry standards and consumer expectations and allow clients to improve profitability by increasing consumer engagement. Customers who have adopted Radius8’s technology include adidas, John Varvatos, Lucky Brand Jeans, Orvis, and many more. Radius8 also participated in the NJEDA’s Net Operating Loss Program.

Deliveright Logistics, Inc. in Bayonne has developed patented technology called Grasshopper, which bridges the gap between e-commerce retailers of heavy goods (i.e. furniture) and final mile companies that specialize in delivering these products. Grasshopper, a cloud-based proprietary platform, provides increased efficiency for operations, pricing, route optimization, tracking, and visibility for customers throughout the logistics chain.

Fusion Recruiting Labs headquartered in Red Bank, offers human resource departments and staffing agencies software tools to simplify and humanize the hiring process. The company created three products that are software-as-a-service-based recruitment and job distribution platforms; FATj.com, FindaNursingJob.com, and Talenize. These platforms are designed to empower recruitment teams by allowing them to source, connect, and engage quality candidates in the high-demand industries of transportation and healthcare recruitment.

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 technology and life sciences businesses, call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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Representatives of the NJEDA and ConnectOne Bank joined Clifton Mayor James Anzaldi at the newly-expanded headquarters of Shawnee Trucking

TRENTON, N.J. (January 17, 2020) – Representatives from the New Jersey Economic Development Authority (NJEDA) and ConnectOne Bank joined Clifton Mayor James Anzaldi to visit Shawnee Trucking Company in Clifton today to raise awareness of resources available to small businesses throughout the state. The visit also highlighted the key role small businesses like Shawnee Trucking Company play in the growth of New Jersey’s transportation and logistics sector.

“The transportation and logistics sector is a major contributor to our economy, accounting for close to 200,000 private sector jobs and $23 billion into the economy,” NJEDA Managing Director of Business Development Paul Ceppi said. “Under Governor Phil Murphy’s leadership, we’re working with our partners in the industry to establish New Jersey as the nation’s pre-eminent transport technology hub. Small businesses up and down the supply chain play a pivotal role in making that happen.”

Shawnee Trucking operates as a “one-stop,” full-service transportation and logistics company that provides trucking and delivery services between Virginia and Maine. It also serves the remainder of the country through broker contracts and contractors.

Late last year, Shawnee Trucking Company used funding from the NJEDA’s Premier Lender Program to purchase a six-acre property in Clifton that will serve as its national headquarters. The property includes a 121,000-square-foot warehouse, 4,000 square feet of office space, and a two-acre parking lot. Financing from an $11,520,000 ConnectOne Bank loan, including a $2,000,000 NJEDA participation supported the purchase.

“We chose to base our operations in the Garden State because of its strategic location at the center of the Northeast Corridor, its proximity and easy access to ports throughout the region, its first-rate infrastructure and its dynamic workforce within the state,” Shawnee Trucking Founder Balram “Chris” Lall said. “We’re grateful that NJEDA and ConnectOne Bank support has enabled us to grow our business and expand our customer base.”

Mayor Anzaldi echoed Lall’s sentiments about New Jersey being the perfect place to grow a transportation and logistics business.

“Clifton sits at the crossroads of the Garden State Parkway and Rt. 3, just a short drive from the Lincoln Tunnel and the Port of Newark," Mayor Anzaldi said. “Our centralized spot makes us ideal for transportation and logistics companies such as Shawnee Trucking and we encourage other businesses in this vital sector to come see all that we have to offer.”

Lall founded Shawnee Trucking Company in 1992, at the age of 21. Today, the company employs more than 125 people in New Jersey and plans to hire additional workers in the next two years. The minority-owned business has a fleet of 180 trucks and trailers and more than 450 customers. In addition to the New Jersey location, Shawnee also has a facility in Lancaster, P.A.

Lall noted that his company is always looking to hire qualified military veterans.

Through the Premier Lender Program, the NJEDA works with more than two dozen banks throughout New Jersey to guarantee or participate in a portion of commercial loans or lines of credit. Businesses can use this financing for fixed assets or term working capital, and NJEDA’s involvement in the transaction provides lenders with greater flexibility by reducing their overall exposure.

Ceppi was among NJEDA representatives to visit Shawnee Trucking Company today. He was joined by NJEDA Vice President of Policy & Communications Tai Cooper and Business Development Officer Monika Athwal. One of ConnectOne Bank’s Managing Directors, Robert Murphy, also attended the visit with Ceppi, Mayor Anzaldi, Clifton City Manager Nick Villano and Allan Ryff, the city’s Director of Economic Development.

“Since becoming an NJEDA Premier Lender nearly two years ago, we’ve had the opportunity to further our people-first mission by partnering with small businesses in our local communities.,” Murphy said. “We are excited to have supported Shawnee Trucking’s growth and look forward to working with Chris and his team as they continue to expand.”

About the New Jersey Economic Development Authority

To learn more about NJEDA resources, call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

Innovation-Challenge-(2).jpg
Dominic Villecco, President of V-COMM and Vice President of the NJ Wireless Association, discusses expanding 5G wireless technologies in Paterson and Passaic.

TRENTON, N.J. (August 26, 2019) – Project teams from nine New Jersey municipalities and counties convened today in Trenton to present their plans for building or augmenting their local innovation ecosystems. New Jersey Economic Development Authority (NJEDA) solicited these plans through a Request for Proposals (“RFP”) under the Innovation Challenge, a new initiative announced by Governor Phil Murphy in July 2018, as part of his vision for restoring New Jersey’s preeminence in innovation. These nine municipalities and counties were awarded contracts for $100,000 each in November 2018.

Governor Murphy created the Innovation Challenge as a call for municipalities and counties to partner with higher-education institutions and other strategic partners to consider groundbreaking approaches to building public-private and community partnerships, nurturing entrepreneurship, and upgrading infrastructure. The nine communities selected under the RFP were: Atlantic City, Atlantic County, Bridgeton, Camden County, Monmouth County, New Brunswick, Passaic County, Trenton, and Union Township.

"We launched the Innovation Challenge to encourage local communities to advance their own plans to further Governor Murphy’s vision to make New Jersey the State of Innovation, and it was exciting to see so much energy and enthusiasm for recapturing our historic leadership position,” said NJEDA Chief Executive Officer Tim Sullivan.

Participating project teams presented their progress today to an audience of state economic development leaders, including representatives of the Murphy Administration, and community leaders from relevant areas.
The plans focused on a wide variety of ideas designed to cultivate innovation and drive economic activity in New Jersey communities. They included:

The City of Atlantic City, Stockton University, and other partners’ plan for the Coastal Resiliency Institute, an educational, research, and incubator facility focused on the sustainable use of ocean and coastal resources for economic growth, improved livelihoods, and jobs;
Atlantic County, the Atlantic County Economic Alliance, Atlantic Cape Community College, and Embry Riddle Aeronautical University’s marketing feasibility assessment for an Aviation Maintenance and Technical Academy;
The City of Bridgeton, Cumberland County Improvement Authority, Rutgers Food Innovation Center, and the Cumberland Workforce Development Board’s plan to create a Smart Food Manufacturing Center within the expanded Food Specialization Center in Bridgeton, which has already received offers of in-kind assistance, consulting, and equipment from a leader in advanced manufacturing technology;
Camden County, Coopers Ferry Partnership, and Rowan University’s assessment around Smart City infrastructure needs for downtown Camden focused on integrating adaptive traffic signal technology and development of a central Transportation System Management and Operations Center;
Monmouth County, Fort Monmouth Economic Redevelopment Authority, and New Jersey Institute of Technology’s vision for a 50-acre technology campus at Ft Monmouth that will attract high- growth private and public organizations and build an entrepreneurial environment in Monmouth County;
A joint venture between the City of New Brunswick, Rutgers University, and New Brunswick Development Corporation (DEVCO) to create an integrated system for autonomous vehicle testing in a real-world urban cityscape;
The County of Passaic and Cities of Passaic and Paterson’s partnership with the William Paterson University-Small Business Development Center, Passaic County Community College, PSE&G, and St. Joseph's Hospital to document options available for expanding 5G wireless technologies in Paterson and Passaic;
The City of Trenton and Greater Trenton’s engagement with five Mercer County higher education institutions and Trenton Public Schools to plan for a collaborative innovation and entrepreneurial center. This includes an analysis that studies the entrepreneurial ecosystem and development needs for Trenton-area entrepreneurs, businesses, universities and residents. Resulting in recommended programs and sites for the Innovation Center within Trenton.
Union Township and Institute for Life Science Entrepreneurship (ILSE) at Kean University’s work with Union County and the Union County Economic Development Corporation to address a variety of issues associated with financing, expanding, and operating an innovation center that will catalyze the establishment and growth of life science start-up companies, creating a density of early-stage companies to promote entrepreneurial dynamism and economic activity.

The plans presented today will be made available to the public in the coming weeks so that other localities may learn from the experience of the Innovation Challenge project teams. A second round of Innovation Challenge projects was approved in March 2019. Included in this round are: Cape May County, Hoboken, Newark, Paterson, and Plainfield.

About Us
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 EDA resources for businesses call EDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
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NJEDA CEO Tim Sullivan moderates a panel focused on the potential for the State’s innovation economy to benefit from redevelopment in opportunity zones. From left: Tim Sullivan, Christopher Paladino, President DEVCO; Carl E. Van Horn, Ph.D., Distinguished Professor of Public Policy, Director, John J. Heldrich Center for Workforce Development; Mike Meyer, Hugo Neu Corporation, Aisha Glover, President & CEO Newark Alliance.

Trenton, NJ (March 11, 2019) – Governor Phil Murphy used today’s New Jersey Opportunity Zone Summit to demonstrate the State’s preparedness for attracting investment to the 169 Opportunity Zones in 75 municipalities spread across New Jersey’s 21 counties.

“Attracting investment to areas of the state that have been overlooked or perceived by investors as overly risky is key to achieving our goals for a stronger and fairer economy,” said Governor Murphy. “We are working together across state government to help Opportunity Zone communities put their best foot forward as they compete for investment dollars on a national scale.”

The New Jersey Opportunity Zone Summit, hosted by Choose New Jersey, featured a discussion between Governor Murphy and Anthony Foxx, Chief Policy Officer, Lyft, and former United States Secretary of Transportation. The discussion was facilitated by Choose New Jersey Chief Executive Officer (CEO) Jose Lozano.

Governor Murphy and Secretary Foxx discussed how the Opportunity Zone program will help to raise the profile of urban areas that have experienced long-term disinvestment. Foxx highlighted Lyft’s commitment to equitable mobility in New Jersey, particularly in areas underserved by existing traditional transit options. Foxx spoke to Lyft’s focus on forging public-private partnerships, growing the Lyft driver community, and the company’s plans to open a driver Hub in Jersey City later this year.

“Transportation is critical to economic opportunity and at Lyft, we are committed to providing rides to those who need them most,” said Foxx. “Not only is it imperative that we help people move around the state affordably and reliably, but we want to invest in New Jersey through growing our driver community and supporting local businesses. I commend Governor Murphy on not only highlighting this important initiative, but on investing in projects that will make a difference in Opportunity Zones across the state.”

Governor Murphy also highlighted several initiatives that will help to facilitate investment in New Jersey’s Opportunity Zones. As proposed in the Governor’s Economic Plan announced last October, the New Jersey Economic Development Authority (NJEDA), in partnership with the New Jersey Department of Community Affairs (DCA) and the New Jersey Redevelopment Authority (NJRA), will develop the NJ Opportunity Zone Marketplace, a real estate and business equity project sharing portal. As envisioned, the Marketplace will be a nationwide access point where qualified investors and eligible New Jersey projects can meet up and begin the development process. Based on best practices from leading community development and economic empowerment philanthropies, this portal will allow projects from New Jersey’s 75 Opportunity Zone municipalities to market their investment opportunities nationwide. The Marketplace is expected to launch in summer 2019.

The NJEDA, DCA, and NJRA will also partner to launch the New Jersey Opportunity Zone Challenge, a competitive funding program which will be designed to leverage community knowledge, skills, and abilities. Its goal is to boost local community-based capacity in financial and technical planning. The funding will help selected entities write plans to identify their specific needs, leverage local resources, and advance projects through the development process. A Request for Proposals is expected to be issued by the NJEDA in the spring.

“Opportunity Zones are designed to attract investments to some of our most underserved communities to spur economic growth and job opportunities in all 21 counties,” said Lieutenant Governor Sheila Y. Oliver, who also serves as Commissioner of the Department of Community Affairs. “We are optimistic that the partnerships we are building today between stakeholders and municipalities will provide the competitive edge needed to reach a broader audience so development projects succeed at every stage – from concept to completion.”

NJEDA CEO Tim Sullivan moderated a panel focused on the potential for the State’s innovation economy to benefit from redevelopment in opportunity zones, including unique, revitalized facilities for shared workspaces, small businesses, and entrepreneurs. The panel featured Carl E. Van Horn, Ph.D., Distinguished Professor of Public Policy, Director, John J. Heldrich Center for Workforce Development; Aisha Glover, President & CEO Newark Alliance; Christopher Paladino, President DEVCO; and Mike Meyer, Hugo Neu Corporation.

“Governor Murphy and his entire administration are committed to making New Jersey the premier destination for Opportunity Zone investments that can catalyze inclusive, sustainable economic development,” said Sullivan.
“The Opportunity Zone Challenge will provide mayors and local leaders with vital resources to advance their unique visions for the transformative investments they would like to see in their own communities.”

Choose New Jersey’s Opportunity Zone Summit was supported by PSE&G, New Jersey Resources, Hackensack Meridian Health, and New Jersey Business Magazine.

“The lively discussions among experts from the real estate, academic, economic development, and investment communities we saw throughout the day are indicative of New Jersey’s collective determination to maximize the potential for returning these long-neglected pockets of our cities to economic productivity,” said Lozano. “New Jersey’s drive to showcase its Opportunity Zones enhances Choose New Jersey’s ability to appeal to investors in both the national and international arenas.”

To read Governor Murphy’s full economic plan, please visit: https://nj.gov/economicplan

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Technology and life sciences startups at Rowan University's Technology Business Incubator at the South Jersey Technology Park can now benefit from NJ Ignite, New Jersey's new rent-support program.

Collaborative Workspace is One of 10 Approved
to Offer Rent Support Through NJ Ignite

TRENTON, N.J. (February 5, 2019) – The community of startups that has emerged at Rowan University’s Technology Business Incubator at the South Jersey Technology Park (SJTP) in Mullica Hill is a microcosm for New Jersey’s innovation ecosystem. Entrepreneurs from a variety of technology and life sciences sectors—including health technology, information technology, medical devices makers, and defense companies—work side-by-side as they advance their businesses. Many of the incubator’s tenant companies hire Rowan University students and graduates to fill jobs and internships.

Technology and life sciences businesses in their earliest stages that are considering joining the incubator can apply for rent support grants through the New Jersey Economic Development Authority’s (NJEDA’s) NJ Ignite Program. NJ Ignite provides up to nine months of rent support for startup businesses moving to collaborative workspaces. The funding is made possible through a combination of support from the NJEDA and the collaborative workspace, with the NJEDA supporting up to six months’ rent and the collaborative workspace supporting rent for half the length of NJEDA’s commitment. Due to SJTP’s affiliation with Rowan University, it can offer its companies participating in NJ Ignite an additional month of rent support, totaling ten months, with seven months of support coming from the NJEDA.

“Increasing collaboration among entrepreneurs is crucial to helping the State’s youngest companies flourish,” said Brian Sabina, NJEDA Senior Vice President – Office of Economic Transformation. “Governor Phil Murphy is committed to making New Jersey the State of Innovation, and programs like NJ Ignite are key to fulfilling that vision.”

Twenty-eight technology and life sciences startups currently call SJTP home. Each of these companies has access to Rowan University’s engineering, science, and business faculty and students, as well as their research, development, and commercialization expertise. They can also tap into SJTP's program of events and rich network of business resources, including legal, marketing/e-commerce resources, and venture capital. In 2014, Rowan University launched the Rowan Innovation Venture Fund, a $5 million fund designed to provide early-stage funding primarily to students, faculty, staff, alumni, and South Jersey individuals and companies that have developed and tested projects and products that are ready to compete in the marketplace.

In addition, tenants have access to some of the larger companies and research centers based at the SJTP, including Lockheed Martin, Inspira Health Network’s Innovation Center, and several of Rowan University’s Research Centers including Virtual Reality, Materials, Orthopedics, and the Center for Research and Education in Advanced Transportation Engineering Systems (CREATEs).

“One of our greatest assets is our ability to facilitate connections between our tenants and the broader New Jersey innovation ecosystem including governmental and scientific contacts,” said Jeanne Nevelos, Executive Director of the SJTP. “This includes making introductions between entrepreneurs and key individuals within the university’s network, including its two medical schools: the School of Osteopathic Medicine and Cooper Medical School at Rowan University.”

The Technology Business Incubator is one of ten collaborative workspaces that have already been approved to participate in the NJ Ignite Program. To learn more about the program and find a participating workspace by geographic location, please visit https://www.njeda.gov/njignite.

@NewJerseyEDA spoke with Nevelos about the incubator and her experience at Rowan University.

What would you say is the single biggest selling point for entrepreneurs moving to the incubator?
Access to a large and diverse university of more than 19,000 students offering a great talent pipeline of students, faculty expertise, and the ability to be part of a growing entrepreneurial community are among our strongest selling points.

What advice do you have for entrepreneurs looking to set up shop in southern New Jersey?
If you are seeking professional support, affordable space and access to other like-minded companies, the Technology Park can help you tap into the resources of one of the fastest growing universities in the country.

Any big plans for the incubator in the near future?
We have some innovative ideas that we plan to announce in the coming months. Stay tuned!

About Rowan University
Rowan University is a Carnegie-classified national doctoral research institution dedicated to excellence in undergraduate education. It offers bachelor’s through doctoral and professional programs to 19,500 students through its campuses in Glassboro, Camden and Stratford, New Jersey. Home to Cooper Medical School of Rowan University and the School of Osteopathic Medicine, it also comprises the William G. Rohrer College of Business; the Henry M. Rowan College of Engineering; the colleges of Communication & Creative Arts; Education; Humanities & Social Sciences; Performing Arts; Science & Mathematics; the School of Health Professions; the School of Earth & Environment, the Graduate School of Biomedical Sciences and a multidisciplinary honors college. Rowan is collaborating with regional leaders to create research and academic programs in health sciences. It has earned national recognition for innovation, commitment to high-quality, affordable education and developing public-private partnerships.

To learn more about EDA resources for technology and life sciences businesses, visit https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter and LinkedIn.

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