On April 9, 2019, the New Jersey Economic Development Authority (NJEDA) authorized the creation of a revised Brownfields Loan Program (the "Program") to provide low-interest financing to borrowers in an effort to facilitate remediation of vacant or underdeveloped brownfields sites and return such sites to full and productive use, particularly in the under-served communities within the State. The Program is an expansion of the NJEDA's existing Brownfields Loan Program.
Local businesses within a commercial corridor looking to revitalize the economic, physical, and social value of its business should encourage their respective municipality to form Improvement Districts (“ID”).
Last month the New Jersey Economic Development Authority (NJEDA) announced that it would begin taking applications for tax credits through New Jersey's Offshore Wind Tax Credit Program (the "Program") from businesses that make a capital investment of at least $50 million dollars in certain qualified offshore wind facilities within Burlington, Camden, Gloucester, Salem, Cumberland, Mercer or Cape May counties.
On February 19, 2019, the New Jersey Economic Development Authority ("NJEDA") announced the expansion of the existing Business Lease Incentive Program (commonly known as the "BLI Program").
The governor’s office and the New Jersey Economic Development Authority (EDA) recently announced the initial group of collaborative workspaces that have been approved to participate in the NJ Ignite program.
Pursuant to New Jersey Governor Phil Murphy’s Economic Development Strategic Plan for the State of New Jersey ("Strategic Plan"), the New Jersey Economic Authority ("EDA") launched a new, dedicated unit ("Unit") to support the small-business community. The Unit will provide New Jersey small-businesses with financial, workforce, and technical support, with a focus on historically underrepresented small businesses such as minority, veteran, disability and LGBTQ-owned enterprises.
On November 9, 2018, the New Jersey Economic Development Authority ("NJEDA") provided an outline of several new enhancements to its existing lending programs for small businesses in New Jersey. In particular, the NJEDA announced changes to its "Premier Lender Program" and its small business lending programs, as well as the implementation of the new "Access Program."
Governor Murphy commits to investing in people, ecosystems, physical spaces and more in the State of New Jersey.