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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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Aspire

Aspire is a gap financing tool to support commercial, mixed-use, and residential real estate development projects. It is the successor to the Economic Redevelopment and Growth Grant (ERG), which closed after the 2019 application cycle.

Start Date:

Due Date:

Mar 1, 2027 11:59 PM

Eligibility:

To be eligible for Aspire support, a project must:

Demonstrate through NJEDA analysis that without the incentive award, the redevelopment project is not economically feasible.
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 developer who has an equity participation of at least 20 percent of the total cost.
Result in a net positive benefit to the state.
Meet specific cost thresholds, depending on where the project is located.

A "qualified incentive tract" is a population census tract that meets either of the following criteria:

A poverty rate of 20 percent or more
The median family income does not exceed 80 percent of either the statewide median family income or the median family income of the metropolitan statistical area where the census tract is located, whichever is greater.

Benefits:

Most Aspire projects will be subject to a total award cap of $42 million.

Residential projects also receiving low-income housing tax credits (LIHTC) or projects located in certain economically disadvantaged locations may receive up to $60 million.

Baseline tax credits available

‍Tax credits equal to 45 percent of project costs, up to $42 million

Bonuses

Atlantic City, Paterson, and Trenton are government restricted municipalities (GRM).

Commercial projects located in a GRM can receive tax credits up to 50 percent of project costs in project support. Newly constructed residential projects that are also utilizing four percent LIHTCs can receive tax credits up to 60 percent of project costs.

Projects using LIHTC or any other project in a Qualified Incentive Tract (QIT), GRM, or municipality with an Municipal Revitalization Index (MRI) distress score of at least 50, can receive tax credits up to $60 million.

Construction

Real Estate and Rental and Leasing

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.

All Industries

Loan

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Catalyst R&D Voucher Program

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

Start Date:

Due Date:

Eligibility:

Each applicant to the Catalyst R&D Voucher Pilot Program must meet the following eligibility criteria:

Companies registered to conduct business in NJ at the time of application
Companies with no more than 25 full-time employees (35 regularly scheduled hours per week) at time of application until the voucher is awarded and throughout the voucher duration.
100% of Project work for which the voucher is being sought has to be conducted in NJ
Minimum of one full-time employee working in NJ at time of application until the voucher is awarded and throughout the voucher duration
50% or more of the work of its employees and contractors 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

Applicant company must be developing or testing technologies in the following target areas:

Advanced Manufacturing
Advanced Transportation and Logistics
Film and Digital Media
Life Sciences – Therapeutic Drug Development
Life Sciences – Other
Non-Retail Food and Beverage
Professional and Financial Services
Technology

Benefits:

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

Manufacturing

Transportation and Warehousing

Technology

Film and Digital Media

Life Sciences

Grant

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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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Drinking Water State Revolving Fund Program

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:

Due 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

Real Estate and Rental and Leasing

Technology

Utilities

Loan

Deadline Approaching

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Closed

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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