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Whether you're looking for startup capital or considering a loan to finance the expansion of your business, a variety of opportunities are available.
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Aspire

Deadline:

March 1, 2027

Aspire is a gap financing tool to support commercial, mixed-use, and residential real estate development projects. This tool replaces the Economic Redevelopment and Growth Grant (ERG).

Start Date:

Eligibility

  • The project must demonstrate through New Jersey Economic Development Authority analysis that without the incentive award, the redevelopment project is not economically feasible
  • Must demonstrate that a project financing gap exists and/or the redevelopment project will generate a below-market rate of return
  • Be located in a designated Incentive Area
  • Include a developer with equity participation of at least 20% of the total cost
  • The project must in a net positive benefit to the State
  • Must meet specific cost thresholds, depending on where the project is located

Benefits

  • Total award cap of $42M, but residential projects also receiving Low-Income Housing Tax Credits (LIHTC), or projects located in certain economically disadvantaged locations may receive up to $60M
  • Tax credits equal to 45% of project costs up to $42M

Bonuses:

  • Commercial projects in a Government Restricted Municipalities (GRM) (These municipalities include: Atlantic City, Paterson and Trenton) can receive tax credits up to 50% of costs in project support
  • Newly constructed residential projects that are also utilizing 4% LIHTCs can receive tax credits for up to 60% of project costs
  • Projects using LIHTC or any other project in a Qualified Incentive Track (QIT), GRM, or municipality with a Municipal Revitalization Index (MRI) distress score of at least 50, can receive tax credits up to $60M
Construction
Manufacturing
Real Estate
Tax Credit
Deadline Approaching
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Get Private Lands Grants to Reduce Greenhouse Gas Emissions

First Come, First Serve

Deadline:

September 16, 2022

Private landowners can apply for up to $5 million in grant awards for projects on New Jersey properties to create, restore, and enhance New Jersey’s natural carbon sinks, such as salt marshes, seagrass beds, forests, urban parks and woodlands, and street trees. Applications will now be accepted through September 16th, 2022.

Start Date:

Eligibility

Applicants eligible to apply for funding under this Notice of Funding Availability include:

  • State, county, and local government units within New Jersey, including State government agencies or school boards;
  • New Jersey universities and colleges;
  • Interstate agencies of which New Jersey is a member;
  • Private landowners owning property in New Jersey (note: private property project must provide matching funds);
  • Nonprofit organizations recognized by the Internal Revenue Service under Section 501(c)(3) of the Internal Revenue Code authorized to operation in the State of New Jersey.

Benefits

Up to $5 million in grant funding per project

All Industries
Grant
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Historic Property Reinvestment Program

Rolling Application

Deadline:

August 15, 2022

This program offers a tax credit for historic, income-producing properties within the state of New Jersey. It's administered by the New Jersey Economic Development Authority in coordination with the New Jersey Historic Preservation Office and the New Jersey Division of Taxation in the Department of the Treasury.

Start Date:

Eligibility

  • Be a rehabilitation project
  • Demonstrate that without the tax credit award, the rehabilitation project is not economically feasible
  • Prove there is a financing gap for a project and the tax credit award being considered is equal to or less than the project financing gap
  • Have not and will not commence any construction or rehabilitation activity until the funding is awarded and the agreement executed
  • The business entity contributed equity of at least 20% of the total project costs, or 10% of the total project costs if located in a government-restricted municipality
  • Can meet minimum cost requirements where the cost of rehabilitation for the period cannot be less than the adjusted basis of the structure or $5,000
  • For a residential project, the structure must serve a residential rental purpose and contain at least four dwelling units

Benefits

  • Tax credits worth up to 40% of eligible costs and up to a project cap of $4M for qualified properties
  • Eligible projects can receive tax credits worth up to 45% of eligible project costs up to a project cap of $8M
  • Transformative projects can receive tax credits worth up to 45% of eligible project costs up to a project cap of $50M
Construction
Tax Credit
Deadline Approaching
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Maternal and Infant Health R&D Grant Program

Rolling Application

Deadline:

August 26, 2022

The Maternal and Infant Health R&D Grant Program supports innovation from researchers and entrepreneurs focused on developing technology, therapeutics, and other solutions to address maternal and infant health challenges in New Jersey.

Start Date:

Eligibility

  • Authorized and in good standing to conduct business in New Jersey as evidenced by a current New Jersey tax clearance certificate
  • Have 1- 25 full-time equivalent workers (FTE calculated on a 35-hour work week) at time of application
  • 50% or more of the cumulative hours  must be conducted in NJ
  • Have less than or equal to $1M in 2021 calendar year sales revenue

Benefits

Eligible applicants can receive grant awards of up to $75,000.

Accommodation and Food Services
Educational Services
Health Care and Social Assistance
Life Sciences
Technology
Grant
Deadline Approaching
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Offshore Wind Tax Credit Program

First Come, First Serve

Deadline:

July 1, 2025

The Offshore Wind Tax Credit Program is a financial tool that spurs private capital investment and employment growth in major, land-based offshore wind industry projects.

Start Date:

Eligibility

  • Businesses investing at least $17.5M in a qualified wind energy facility and employing at least 150 new, full-time employees

Benefits

Tax credits up to 100% of qualified investments

Clean Energy
Clean Energy
Professional, Scientific, and Technical Services
Manufacturing
Other Services
Tax Credit
Deadline Approaching
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Technology Business Tax Certificate Transfer (NOL) Program [formerly Net Operating Loss Program]

Deadline:

July 1, 2022

The Net Operating Loss Program enables qualified, unprofitable New Jersey-based technology or biotechnology businesses to sell a percentage of their net operating losses (NOL) and unused research and development (R&D) tax credits to unrelated profitable businesses.

Start Date:

May 1, 2022

Eligibility

  • Technology or life sciences companies with up to 225 employees in the United States with an operating loss for at least the last 2 years

Benefits

Ability to sell NOL and unused R&D tax credits for up to 80% of their value up to a total amount of $20M

Technology
Life Sciences
Clean Energy
Health Care and Social Assistance
Professional, Scientific, and Technical Services
Tax Credit
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