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Angel Investor Tax Credit Program

Rolling Application

Deadline:

The New Jersey Angel Investor Tax Credit Program establishes refundable tax credits for qualified investments in New Jersey emerging technology businesses to stimulate investment in the innovation economy.

Start Date:

Eligibility

  • Investors in eligible emerging technology businesses or venture funds in New Jersey
  • Both the investor and the technology company must complete the application no later than 6 months from the date of investment
  • Fewer than 225 full-time employees, 75% of whom must work in NJ
  • Commercializes one or more of the following eligible technologies in the State: Advanced Computing, Advanced Materials, Biotechnology, Electronic Devices, Information Technology, Life Sciences, Medical Devices, Mobile Communications, Renewable Energy Technology, and Carbon Footprint Reduction Technology

Benefits

Tax credits equal to 20% of a qualified investment with a potential 5% bonus.

Technology
Life Sciences
Clean Energy
Other Services
Tax Credit
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Aspire

Deadline

Deadline:

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
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Bond Financing

Rolling Application

Deadline:

The Bond Financing program provides bond financing to qualified manufacturing companies, 501(c)(3) nonprofit organizations, and other facilities in New Jersey.

Start Date:

Eligibility

  • Manufacturing and processing facilities, certain government-owned facilities, facilities that furnish utilities, and some 501(c)(3) nonprofit organizations that meet Internal Revenue Code requirements for tax-exempt bond financing
  • Bonds can be used for projects that are owned and operated for the benefit of local, county, and state government bodies and for capital improvements and expansions

Benefits

  • Tax-exempt bonds of up to $10M for manufacturers
  • Unlimited for non-profits and public infrastructure projects
All Industries
Loan
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Catalyst R&D Voucher Program

Rolling Application

Deadline:

The Catalyst Research and Development (R&D) Voucher Pilot Program supports New Jersey-based early-stage company efforts to accelerate the development and innovation of technologies from the research stage into commercially viable technologies, leading to industry and investor interest.

Start Date:

Eligibility

  • Must be registered to conduct business in New Jersey at the time of application
  • Cannot have more than 25 full-time employees (35hrs per week) at the time of application and throughout the voucher duration
  • 100% of the project work has to be conducted in NJ
  • Minimum of one full-time employee working in NJ at the time of application and throughout the voucher duration
  • 50% or more of the work is conducted in NJ
  • Applicant must obtain a signed approval letter from a participating university/college, Federal lab, or non-profit organization confirming that the facility is capable and willing to provide the services that will be supported by the voucher (current list of participating facilities)

Benefits

This program is a $275,000 pilot program. Eligible applicants can apply for vouchers of up to $25,000 to help offset the cost of leveraging R&D resources, facilities, and equipment at the state’s academic universities, colleges, federal, and non-profit laboratories to advance their technology development.

Accommodation and Food Services
Arts, Entertainment, and Recreation
Clean Energy
Construction
Digital and Print Media
Grant
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Child Care Facilities Improvement Program

Rolling Application

Deadline:

The Child Care Facilities Improvement Program provides grants for facilities improvement to New Jersey child care providers that provide high quality early childhood learning environments.

Applicants are limited to one application per DCF-licensed child care center location, and two applications per Entity ID Number (EIN) .

Start Date:

November 15, 2022

Eligibility

  • Child care center licensed by New Jersey Department of Children and Families (NJDCF) as of June 4th, 2021
  • Currently enroll, or have enrolled in the 12 months prior to the date of application, at least one child receiving support through New Jersey Department of Human Services (NJDHS) Child Care Assistance Program
  • For-profit businesses or non-profit organizations that can own or lease space
  • Be in good standing with the New Jersey Departments of Labor and Workforce Development, Environmental Protection, NJDCF, and NJDHS
  • Must not be debarred from receiving federal funds, as indicated through System for Award Management (SAM)
  • Contractors conducting facility improvements must be New Jersey Department of Labor (NJDOL) Public Works Registered Contractors and abide by state prevailing wage and affirmative action requirements

Project elements that can be covered by this grant:

  • Labor and materials cost for interior and exterior facility improvements to create high quality early childhood learning environments. See the full list of eligible facility improvement projects
  • Soft costs are capped at up to 20% of total grant and are limited to: architect fees, permit fees, construction management, freight and shipping delivery, environmental assessment

Benefits

  • Grant between $50,000 to $200,000
Educational Services
Grant
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Clean Tech Research & Development (R&D) Voucher Program

First Come, First Serve

Deadline:

The Clean Tech Research & Development (R&D) Voucher Program helps New Jersey early-stage clean tech and clean energy companies offset the cost of accessing equipment at participating New Jersey universities or federal labs for R&D.

Start Date:

Eligibility

  • Must be a New Jersey-based clean energy and clean technology company
  • Company must have 50 or fewer full-time employees

Benefits

Companies received vouchers totaling up to $15,000 per year.

Technology
Clean Energy
Professional, Scientific, and Technical Services
Manufacturing
Other Services
Grant
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Digital Media Tax Credit

First Come, First Serve

Deadline:

The Digital Media Tax Credit Program provides a transferable credit against the corporate business tax and the gross income tax to incentivize companies to produce content in New Jersey.

Start Date:

Eligibility

  • Companies must produce content in New Jersey

Benefits

  • A tax credit equal to 20% of qualified digital media production expenses, or
  • 25% of qualified digital media production expenses for services performed and tangible personal property purchased through vendors located in specific New Jersey counties
Arts, Entertainment, and Recreation
Tax Credit
Deadline Approaching
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Direct Loans

Rolling Application

Deadline:

New Jersey businesses committed to job creation or retention may be eligible for direct loans through the New Jersey Economic Development Authority (NJEDA) when conventional financing is not available.

Start Date:

Eligibility

  • Businesses must commit to creating or maintaining 1 job for every $65,000 of assistance. There is an application fee of $1,000

Benefits

Loans up to $2M for fixed assets or up to $750,000 to be used for fixed assets or working capital.

All Industries
Loan
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Disadvantaged Business Enterprise Supportive Services Program (DBE/SSP)

First Come, First Serve

Deadline:

The DBE/SS Program provides training and technical assistance to minority, disadvantaged, and women-owned businesses. This program aims to increase opportunities with the New Jersey Department of Transportation's (NJDOT) contracting program and assist them in competing for and performing work on highway and highway-related projects.

Start Date:

Eligibility

Benefits

  • Intensive, instructor-led instruction in a number of business and technical topics
  • Participating businesses complete a needs assessment and receive customized, one-on-one coaching and technical assistance tailored to their business needs
  • Provided opportunities to expand professional networks and establish relationships with NJDOT's prime contractors through various programs and events
Agriculture, Forestry, Fishing and Hunting
Construction
Finance and Insurance
Manufacturing
Professional, Scientific, and Technical Services
Hiring & Employee Training Support
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Drinking Water State Revolving Fund Program

Rolling Application

Deadline:

This program provides low-interest loans to finance the costs of infrastructure needed to achieve or maintain compliance with Safe Drinking Water Act (SDWA) requirements and to protect public health.

Start Date:

Eligibility

Must be a nonprofit, non-community water systems in New Jersey and use the funds for the following construction projects:

  • Water treatment facilities correcting a system's non-compliance with Surface Water Treatment requirements, acute violations, maximum contaminant levels, lead, and copper rule exceedance, or secondary drinking water regulation exceedance
  • Consolidation of water systems to comply with the SDWA
  • Rehabilitation of existing water treatment facilities, water mains, pump stations, water storage facilities, or new water storage facilities to maintain compliance with the SDWA and wells
  • Allowances for planning and design are also available

Benefits

Provides short-term loans at 0.337% Interest to replace and update drinking water infrastructure.

Construction
Utilities
Loan
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