Starting today, the state Economic Development Authority will begin accepting applications for new business incentive programs under the recently passed Economic Opportunity Act.
The act, which was signed into law by Gov. Chris Christie in September, combines five previous incentive programs into two, the Grow NJ program and the Economic Redevelopment and Growth program.
"The ERG and Grow NJ programs will create a positive impact in terms of New Jersey's ability to compete regionally, nationally and in the global economy," EDA CEO Michele Brown said in a statement Friday. "These incentive programs provide additional tools and will give businesses more opportunities in New Jersey."
Also today, the EDA will launch an interactive website to help navigate potential applicants through the new process.
EDA President Tim Lizura commended his colleagues this morning for working to update the incentive program regulations in just 60 days time following the signing of the bill, a feat he referred to as a "monumental task."