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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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Upskill: Worker Training Grant Program

Upskill offers New Jersey employers of any size grants to improve existing employees’ skills. Training may be provided by employers at their business or by an eligible training provider. These should be cohort-based trainings, not unique to one employee.

Start Date:

Due Date:

Eligibility:

Employers with existing employees who they want to train in a new skill for current and future workforce demands are eligible.

Benefits:

Individual employers can receive grants up to $100,000.

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Hiring & Employee Training Support
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Angel Investor Tax Credit Program

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:

Due Date:

Eligibility:

Investors who invest 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 FTEs, 75% of which 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:

Businesses can receive tax credits equal to 20% of a qualified investment with a potential 5% bonus.

Technology
Life Sciences
Clean Energy
Offshore Wind
Tax Credit/Exemption
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Bond Financing

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

Start Date:

Due 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 is for capital improvements and expansions.

Benefits:

Tax-exempt bonds up to $10M for Manufacturers, unlimited for Non-Profits and public infrastructure projects.

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Loan
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Clean Tech Research & Development (R&D) Voucher Program

The Clean Tech Research & Development (R&D) Voucher Program helps early-stage New Jersey 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:

Due Date:

Eligibility:

New Jersey-based clean energy and clean technology companies with 50 or fewer full-time equivalent employees.

Benefits:

Vouchers totaling up to $15,000 per year.

Technology
Clean Energy
Manufacturing
Other Services (except Public Administration)
Industries not classified
Grant
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Digital Media Tax Credit

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:

Due Date:

Eligibility:

Companies producing 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 incurred for services performed and tangible personal property purchased through vendors located in specific New Jersey counties.

Arts, Entertainment, and Recreation
Tax Credit/Exemption
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Direct Loans : For Job Creation or Retention

New Jersey businesses in need of financing and 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:

Due Date:

Eligibility:

Businesses that 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 $2 million for fixed assets, or up to $750,000 for working capital to be used for fixed assets or working capital.

All Industries
Loan
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Economic Redevelopment and Growth (ERG) Program

The Economic Redevelopment and Growth (ERG) Program is an incentive for developers and businesses to address revenue gaps in residential or commercial development projects. The original program closed for applications in 2019, but the program has been reopened for applications under the Economic Recovery Act of 2020.

Start Date:

Due Date:

Eligibility:

Residential and commercial development projects located in a qualifying incentive area that meet all other program eligibility criteria.

Benefits:

Tax credits or grant reimbursements up to 20% of eligible project costs plus bonuses.

All Industries
Tax Credit/Exemption
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Edison Innovation Angel Growth Fund

Edison Innovation Angel Growth Fund provides funding to early stage, emerging technology businesses matched with an outside equity investors within the last 90 days.

Start Date:

Due Date:

Eligibility:

Angel supported technology companies with minimum trailing 12 month commercial revenues of $250,000. The company must employ 75% of its W-2 employees in NJ or commit to growing 10 high-paying jobs over two years.

Benefits:

Up to $250,000 in growth capital matched with outside investors on a 1 to 2 basis.

Technology
Life Sciences
Loan
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Edison Innovation Growth Stars Fund

Edison Innovation Growth Stars Fund provides funding to early stage, emerging technology businesses matched with an outside equity investors within the last 90 days.

Start Date:

Due Date:

Eligibility:

Venture capital-supported technology companies with minimum trailing 12-month commercial revenues of at least $2 million that have previously received assistance through the Edison Innovation Fund. The company must employ 75% of its W-2 employees in NJ or commit to growing 10 high-paying jobs over two years.

Benefits:

Follow-on funding of up to $500,000. Businesses must have received an Edison Innovation VC Growth Fund investment and be in good standing.

Technology
Life Sciences
Loan
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Edison Innovation VC Growth

Edison Innovation VC Growth Fund provides funding to early stage, emerging technology businesses matched with an outside equity investors within the last 90 days.

Start Date:

Due Date:

Eligibility:

Venture capital supported New Jersey-based technology companies with a minimum trailing 12-month commercial revenues of $500,000. This revenue amount must exceed the amount of the potential Edison Innovation Fund investment amount. The company must employ 75% of its W-2 employees in NJ or commit to growing 10 high-paying jobs over 2 years.

Benefits:

Up to $1 million in growth capital matched with outside investors on a 1 to 1 basis.

Technology
Life Sciences
Loan
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