IF YOU ARE: A developer, owner, or tenant making a qualified capital investment within a designated Urban Transit Hub.
This powerful financial tool is designed to spur private capital investment, business development and employment by providing tax credits for businesses planning a large expansion or relocating to a designated transit hub located within one of nine New Jersey urban municipalities.
Urban Transit Hubs are located within ½ mile of New Jersey Transit, PATH, PATCO, or light rail stations in Camden (expanded to one mile), East Orange, Elizabeth, Hoboken, Jersey City, Newark, New Brunswick, Paterson, and Trenton.
Eligibility is expanded to locations within these municipalities that have active freight adjacent or connected to the proposed building, and utilized by the occupant.
Businesses may apply for the tax credits within five years of the program’s January 13, 2008 effective date and satisfy the capital investment and employment conditions within eight years of that date.
Please note the tax credits may be reduced or forfeited if facility or employment levels are not maintained.
GREEN BUILDING PRACTICE REQUIREMENTS: All projects must meet Green Building Requirements. For guidance on these program requirements, please click here. For questions regarding these requirements, please contact your NJEDA Business Development Officer.
COMPLEMENTARY PROGRAMS: Portions of designated Urban Transit Hubs, with the exception of Hoboken, offer additional incentives through the Urban Enterprise Zone Program to qualifying businesses. These include tax credits for certain new hires, sales tax exemptions for eligible purchases, energy sales tax exemption for eligible manufacturers, and provides for reduced retail sales tax rates on most purchases.
The Business Retention & Relocation Assistance Grant (BRRAG) may not be used in conjunction with the Urban Transit Hub Tax Credit Program, and there may be limitations on the use of the Business Employment Incentive Program (BEIP) at the project site.
* Any proposed amendments to the program rules can be found on the Proposed New Rules/Amendments page