BRRAG Tax Credit Certificate Transfer Program
Tax credit
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Allows companies with unused BRRAG tax credits to sell those credits to unaffiliated businesses, also offers potential buying businesses an opportunity to reduce their corporate business tax liability by purchasing unused BRRAG tax credits from the selling business for at least 80 percent of their value.
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Bond Financing
Tax-exempt, taxable
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| The EDA is authorized by the IRS to issue bonds to provide long-term loans at attractive below-market interest rates to help businesses and nonprofits finance capital improvements and expansions, including real estate acquisitions, new equipment and machinery, and building construction and renovations. Nonprofits can also use tax-exempt bonds for debt refinancing and working capital.
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Brownfields and Contaminated Site Remediation Program
Remediation cost reimbursement
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Provides reimbursement of up to 75 percent of approved costs associated with the remediation effort.
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Business Employment Incentive Program
Grant
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| A powerful incentive for encouraging businesses to locate and expand in New Jersey. Approved businesses receive annual cash grants based on the number of new jobs they have created in the state of New Jersey.
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Business Retention and Relocation Assistance Grant
Grant of corporate business tax credits
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Help companies preserve jobs, expand operations and reinvest in the state of New Jersey.
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Casino Reinvestment Development Authority
Loan
| Casino Reinvestment Development Authority
www.njcrda.com
(609) 347-0500
| John Palmieri
Susan Ney Thompson
| Provides capital investment funds for projects that respond to the changing economic and social needs of Atlantic City and the state.
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Customized Training Grants
Grant
| Department of Labor and Workforce Development
http://lwd.dol.state.nj.us/labor
(609) 984-9414
| Harold J. Wirths
Office of Customized Training
| Customized training funds are available to create and upgrade the skills of workers or retain jobs in a labor demand occupation to ensure that New Jersey employers are more competitive in the global economy. This competitive grant program is made possible under the New Jersey Workforce Development Partnership, and is administered by the Division of Workforce Grant and Program Management, Office of Grants Operations (Customized Training Unit). All awards are made subject to the availability of funds.
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Diesel Risk Reduction
Reimbursement
| Department of Environmental Protection
www.state.nj.us/dep
(609) 292-2885
| Bob Martin
Tony Iavarone www.stopthesoot.org
| Provide a source of funding to reimburse diesel vehicle owners who are complying with the New Jersey Diesel Mandatory Retrofit Rule, the cost to purchase and install retrofit control devices, which will bring about the reduction of particulate emissions from diesel engines.
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Economic Redevelopment and Growth Grant
Grant
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| To address redevelopment project financing gaps.
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Edison Innovation Clean Energy Manufacturing Fund
Grants and loans
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Up to $3.3 million in grants and loans available to qualified manufacturers of Class I renewable energy or energy efficiency systems, products or technologies. This assistance can be used for project assessment and design, and project construction and operation, associated with a new manufacturing line or the material expansion of an existing line of a New Jersey manufacturing facility.
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Edison Innovation Green Growth Fund
Fund
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Offers loans up to $1 million with a performance grant component to support technology companies with Class I renewable energy or energy efficiency products or systems that have achieved "proof of concept" and successful independent beta results, have begun generating commercial revenues, and will receive 1:1 match funding by the time of loan closing.
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Edison Innovation Growth Stars Fund
Fund
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| This program provides up to $500,000 to angel-supported and/or venture capital-supported New Jersey-based technology companies with minimum trailing 12 month commercial revenues of $2,000,000 that have previously received assistance under the Edison Innovation Fund. Assistance can be used to support key hires, product rollout, product enhancement and marketing/sales.
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Edison Innovation VC Growth Fund
Fund
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Key hires, product rollout, product enhancement, and marketing/sales for venture capital supported New Jersey-based technology companies with minimum trailing 12 month commercial revenues of $500,000 derived from core business activities.
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Energy Efficiency Revolving Loan Fund
Loan
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Low-interest loans for New Jersey-based commercial, institutional or industrial entities (including 501(c)(3) organizations) that have received an approved Energy Reduction Plan under the New Jersey Board of Public Utilities' Pay for Performance program. This financing can be used for whole-building energy improvements.
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Energy Sales Tax Exemption Program for Salem County
Tax exemption
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@eda.com
| Manufacturers in Salem County with 50 or more employees, half of whom are directly involved in manufacturing, are eligible for a sales-tax exemption for electric and gas. The energy and utility services must be consumed exclusively at the facility.
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Export Express
Loan
| U.S. Small Business Administration New Jersey District Office
www.sba.gov/nj
(973) 645-2434
| Alfred Titone
William C. Boone
| Export Express loans help small businesses with exporting potential that need funding up to $500,000 to buy or produce goods and/or provide services for export. Loans may be used for most business purposes, including expansion, equipment purchases, working capital, and inventory or real estate acquisition. Export Express also has a line of credit feature. Applicants must demonstrate that the loan will enable them to enter a new, or expand in an existing, export market. Business must have been in operation for at least 12 months (though not necessarily in exporting).
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Export Working Capital Program
Loan guarantees
| U.S. Small Business Administration New Jersey District Office
www.sba.gov/nj
(973) 645-2434
| Alfred Titone
William C. Boone
| SBA's Export Working Capital loans have a revolving line of credit feature and are used to help small businesses export by providing financing for loans up to $5 million. The EWCP loans are generally provided for a term of 12 months. At the end of the 12-month maturity, a borrower may reapply for a new guarantee. Funds may be used to acquire inventory for export or to be used to manufacture goods for export, to pay the manufacturing costs of goods for export, to purchase goods or services for export, to support standby letters of credit related to export transactions, to cover pre-shipment working capital directly related to export orders, and to finance foreign accounts receivables.
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Fund for Community Economic Development
Loans, loan guarantees
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Provides financing assistance to urban-based organizations and for-profit developers to encourage community revitalization.
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Grow New Jersey Assistance Program
Grants of corporate business tax credits
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Up to $8,000 per each new or retained full-time job per year up to 10 years for businesses creating or retaining jobs in New Jersey and making a qualified capital investment at a qualified business facility. The Grow NJ program helps companies preserve and create jobs, expand operations and reinvest in the state of New Jersey.
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Hazardous Discharge Site Remediation Fund
Grant, loan
| Economic Development Authority, Department of Environmental Protection
www.njeda.com, www.state.nj.us/dep
(866) 534-7789, (609) 292-2885
| Bob Martin
Timothy T. Bartle
| Provides funding to municipalities and businesses for the investigation, remediation and/or cleanup of a suspected or known contaminated site. Funding dependent upon availability.
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Literacy Training Grants
Grants
| Department of Labor and Workforce Development
http://lwd.dol.state.nj.us/labor
(609) 984-9414
| Harold J. Wirths
Office of Grants
| The Literacy Skills grant program is made possible under the New Jersey Supplemental Workforce Fund for Basic Skills, and is administered by the Department’s Division of Workforce Grant and Program Management, Office of Grants Operations. The purpose of these grants is to assist New Jersey workers to achieve economic success and self-sufficiency, and to enable New Jersey employers with a more literate work force to compete more successfully in the global economy. All grants awarded are subject to the availability of funds.
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Main Street Business Assistance Program
Loan participations and guarantees, bank line of credit guarantees
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| This program provides financial support to commercial banks in New Jersey to assist in offering loans and guarantees to small and midsize businesses and nonprofit organizations with projects in New Jersey.
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New Jersey Business Growth Fund
Guarantee
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| EDA guarantee of PNC Bank loans for credit-worthy small and midsize businesses.
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New Jersey Environmental Infrastructure Financing Program (Drinking Water State Revolving Fund)
Loans
| Department of Environmental Protection
www.state.nj.us/dep
(609) 292-2885
| Bob Martin
David Zimmer (609) 219-8600 www.njeit.org
| Provide low-interest loans to finance the costs of infrastructure needed to achieve or maintain compliance with Safe Drinking Water Act requirements and to protect the public health in conformance with the objectives of the SDWA.
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New Jersey Redevelopment Authority Bond Program
Loan
| New Jersey Redevelopment Authority
www.njra.us
(609) 292-3739
| Leslie A. Anderson
Antonio Henson
| Tax-exempt bond financing can be used for land and building acquisition, new construction or expansion, or purchase of new equipment and machinery.
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New Jersey Redevelopment Authority Redevelopment Training Institute
Technical assistance/classroom instruction
| NJRA Redevelopment Training Institute
www.njra.us/rti
(609) 278-5779
| Leslie A. Anderson
Gerson Martinez
| Provides nonprofit and for-profit developers, professional consultants, entrepreneurs and city/county staff with a body of knowledge of the redevelopment and real estate development process. Instructors are seasoned industry professionals that bring real-world experience to the classroom setting.
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New Jersey Redevelopment Investment Fund
Loan
| New Jersey Redevelopment Authority
www.njra.us
(609) 292-3739
| Leslie A. Anderson
Director of Business Development
| Flexible investment fund that provides debt and equity financing for business and real estate ventures located in any of NJRA’s eligible municipalities.
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New Jersey Urban Site Acquisition Program
Loan
| New Jersey Redevelopment Authority
www.njra.us
(609) 292-3739
| Leslie A. Anderson
Antonio Henson
| Facilitates the acquisition, site preparation and redevelopment of properties, which are components of an urban redevelopment plan in New Jersey Redevelopment Authority-eligible communities.
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New Jersey Women's Micro-Business Credit Program
Collaborative economic development program
| Department of Community Affairs Division on Women
www.state.nj.us/dca/dow
(609) 292-8840
| New Jersey Division on Women
(609) 292-8840
| The program assists women with minimal business experience to develop their entrepreneurial goals. Participants learn how to start, market or expand their small business, as well as increase their business skills through training and mentoring opportunities. In addition, eligible participants have the opportunity to apply for a loan of up to $5,000.
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Petroleum Underground Storage Tank Program -- Leaking Tanks Commercial and Residential
Financing Programs
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| A business owner or residential property owner who has less than 10 petroleum underground storage tanks on site and are required to upgrade, close and remediate discharge from those tanks; grant and loan funding, based on the financial performance review conducted by the EDA. Funding dependent upon availability.
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Premier Lender Banking Status
Financing program
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| The Premier Lender Banking Status creates new opportunities for the EDA's lending partners by providing new, low-cost financing opportunities with faster turnaround. EDA-designated Premier Lenders may submit credit assistance requests and the EDA will make a decision on the applications within three business days. A written commitment letter is issued within two days of approval, and upon notice, closing may occur within three business days.
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Sales and Use Tax Exemption Program
Tax credit
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Often used in conjunction with the BRRAG tax credit program, this program offers companies relocating and retaining jobs in New Jersey a sales-tax exemption on their purchases of eligible items including machinery, equipment, furniture and furnishings, fixtures and building materials other than tools and supplies for placement at the project location.
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Shore Protection Grants and Loans
Grants and loans
| Department of Environmental Protection
www.state.nj.us/dep
(609) 292-2885
| Bob Martin
David Rosenblatt (609) 984-0859 http://www.nj.gov/dep/shoreprotection
| To protect existing development from sea‑level rise and shoreline migration through dune creation and maintenance, beach fill projects and repair of existing shore protection structures.
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Small Business Fund
Loan
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| To provide up to $300,000 of financing to credit-worthy small, minority-owned or woman-owned businesses in operation in New Jersey for at least one year or not-for-profit organizations in operation for at least three full years.
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Small Business Loan Programs
Loans
| U.S. Small Business Administration New Jersey District Office
www.sba.gov/nj
(973) 645-2434
| Alfred Titone
William C. Boone
| SBA's loans support expansion of existing businesses and the creation of new firms. Loans are made through a network of participating lenders with SBA's guarantee, and range from $5,000 to $5 million.
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Statewide Loan Pool Program
Loan participation and guarantee
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| The EDA can participate in, or guarantee up to, 50 percent of a bank loan to New Jersey-based businesses that create jobs, are located in a targeted municipality, or represent an industry that the EDA has targeted for assistance.
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Technology Business Tax Certificate Transfer Program
Tax credits
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Qualified technology/biotechnology businesses in New Jersey with fewer than 225 employees can raise money to finance their growth and operations by selling unused net-operating losses and research and development tax credits to other profitable New Jersey corporations for at least 80 percent of their value.
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Urban Enterprise Zones Manufacturers Energy Sales Tax Exemption
Financing program
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| An Urban Enterprise Zones-certified manufacturer employing at least 250 full-time workers, at least 50 percent of whom are involved in the manufacturing process may receive an exemption from the sales and use tax for electricity and natural gas utilities, both the commodity and its transmission, consumed at the UEZ-certified location.
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Urban Transit Hub Tax Credit Program
Tax credits
| Economic Development Authority
www.njeda.com
(866) 534-7789
| Business Action Center
customercare@njeda.com
| Powerful financial tool 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.
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Working in Newark's Neighborhoods
Loan
| New Jersey Redevelopment Authority
www.njra.us
(609) 292-3739
| Leslie A. Anderson
Antonio Henson
| Funds can be used for commercial and mixed-use projects directly related to comprehensive redevelopment initiatives, including pre-development, site preparation, acquisition, demolition, permanent financing, loan guarantees and construction financing. Funds are designated for Newark.
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