Nj eda programs

The New Jersey Economic Development Authority just approved and announced a package of grant and loan programs for small- and mid-sized businesses and non-profits hit hard by the coronavirus crisis. We worked with EDA on these programs, which are varied in nature.

EDA estimates the initiatives will support between 3, and 5, enterprises. And while the funding earmarked for these grants and loans will not make all of our New Jersey businesses whole, this is a great first step and those in need will be able to apply soon.

We continue to strongly urge all business owners who are interested in these programs to QUICKLY take inventory of all necessary evidence of cash flow and income over the past year, including receipts and invoices, and to connect with your accountants.

This way you can put your most effective foot forward during the application process and get in early. Get ready now! We continue to update our own Coronavirus Resource Page , where you can also contact us if you have any other additional questions. Our staff is here for you and ready to help. Additional NJEDA programs will be presented to you in the event it is determined that your project is not a good fit for Emerge. To provide a thorough review, please allow our team 3 to 4 days to provide you with an update after submitting your pre-application.

A sample of the full application can be found here : It is recommended that potential applicants review the full application requirements before submitting their pre-application.

It is also highly recommended that applicants moving forward to submit the full application, draft responses and gather information based upon the sample application before starting to fill out the online application. Once your full application has been submitted and the non-refundable application fee has been received, NJEDA will conduct a completeness review of your application..

After that, NJEDA will begin a full application review including detailed review of all documents and additional staff due diligence. While we will work as diligently as possible, full application reviews may take up to several months based upon factors such as completeness of the responses included in the application and responsiveness on requests for additional information or documentation.

During this time NJEDA may reach out to you if additional information is needed to complete your application review. In the event of any questions, please contact: emerge njeda. The full statutory text of the Emerge Program can be found in sections of the Economic Recovery Act of Targeted Industries include: Download the target industry interpretations for full details.

If you are a potential applicant that would like to learn more about the Emerge Program? Please complete this expression of interest form and we will have a member of our team reach out to you. Open in new Tab. Be located in an Eligible Incentive location. Meet minimum capital investment requirements.

Emerge tax credits must yield a minimum net positive economic benefit to the state of percent to percent depending on project location. Ensure the Qualified Business Facility can accommodate at least 50 percent of incented jobs. Commit to stay at the Qualified Business Facility for 1.

Award Size Calculator This calculator is being provided as a courtesy planning tool to entities interested in applying for tax credits through the Emerge Program. Small projects Jobs.

Medium projects Jobs. Applications Fees. Approval Fee. Tax Credit Certificate Issuance Fee. Annual Servicing Fee. Tax Credit Transfer Certificate. First Six-month Extension. Subsequent Extension. Emerge Program Pre-Application Any business interested in applying to the Emerge program must first submit a pre-application on their project.

Open Public Records Act N. Eligibility Targeted Industries include: Download the target industry interpretations for full details Advanced transportation and logistics, Advanced manufacturing, Aviation, Autonomous vehicle and zero-emission vehicle research or development, Clean energy, Life sciences, Hemp processing, Information and high technology, Finance and insurance, Professional services, Film and digital media, Non-retail food and beverage businesses, and Other innovative industries that disrupt current technologies or business models.

Some of these eligibility requirements are relaxed for small businesses as defined in the program rules. Government Restricted Municipalities. Atlantic City. Enhanced Area. East Orange. Jersey City. Newark City. New Brunswick. Distressed Municipalities. Asbury Park City. Mount Holly Township. Bayonne City. Neptune City Borough. Belleville Township. Neptune Township. Bloomfield Township. North Bergen Township. Brick Township. Old Bridge Township. Bridgeton City. Orange City. Carteret Borough.

Pemberton Township. Cliffside Park Borough. Penns Grove Borough. Clifton City. Pennsauken Township. Garfield City. Perth Amboy City.

Glassboro Borough. Phillipsburg Town. Gloucester City.