All Updates

Businesses interested in opportunities to support the State’s climate resilience are encouraged to visit the new Climate Resilience Funding Directory. The Directory offers streamlined access to opportunities for State and federal grants. Though intended primarily for municipalities and community-based nonprofits, the Directory also includes numerous opportunities for small businesses and other private sector organizations. Use the “Applicant Type” menu and select “Private Sector and/or Small Businesses.”

The Department of Environmental Protection seeks public feedback to improve the Directory. Questions and comments may be emailed to the Resilient NJ program at resilientnj@dep.nj.gov.

New Jersey’s statewide minimum wage will increase by $0.36 to $15.49 per hour for most employees on January 1st, 2025. Employees of small or seasonal businesses, direct care staffers at long-term care facilities, tipped workers, and agricultural employees are subject to a different minimum wage scale.

Restaurants and certain retailers or manufacturers of alcoholic beverages may continue to use fixtures such as tents, canopies, umbrellas, tables, and chairs in designated outdoor spaces or on public sidewalks. A new law has made permanent the temporary outdoor dining rule changes adopted in February 2021. Holders of temporary expansion permits issued by the New Jersey Division of Alcoholic Beverage Control (ABC) may convert their temporary permit into a permanent permit at their next annual renewal.

Zero emission vehicles (ZEVs) are now subject to sales and use taxes in New Jersey. ZEVs incur a 3.3125% reduced tax rate until July 2025, when they will transition to the standard rate of 6.625%.

A recently introduced measure that required all U.S. companies to report stakeholder information to the U.S. Department of Treasury by December 31, 2024 is no longer in force. A Texas court has issued an injunction blocking the Corporate Transparency Act (CTA), which includes the Beneficial Ownership Information Report (BOIR). For now, the court’s ruling eliminates the BOIR requirement and deadline. Companies that have already filed a BOIR do not need to take action; companies that wish to file may do so voluntarily. Business.NJ.gov will provide any necessary updates on this situation.

Businesses, labor unions, and nonprofits can receive up to $10,000 in tax credits to offset the costs of establishing a federally recognized apprenticeship program. The Apprenticeship Tax Credit Program is intended to help cultivate a skilled New Jersey workforce and support the State’s economic growth. Some industries, including advanced manufacturing, construction, healthcare, logistics, pharmaceuticals, transportation, tourism, and renewable energy, may be eligible for enhanced tax credit incentives.

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New Jersey construction companies that are 51% minority-, woman-, or veteran-owned can now enroll in Building for Growth (BFG), a tuition-free, 18-week hybrid training program that teaches participants how to build business capacity, access capital, and secure larger contracts. Eligible companies are based in New Jersey (or conduct significant operations there) and meet specific revenue criteria. Sessions are hosted at Kean University in Union County and online via Zoom.

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Access financial, mentoring, and technical support for your business at a Resources for Growth event at Rowan University in Cumberland County on September 27, 2024. More than 40 exhibitors will offer detailed information on a wealth of resources and programs designed to boost your business growth. Free registration is required.

Businesses can now access funding through the NJ Department of Labor and Workforce Development's UPSKILL: NJ Incumbent Worker Training Grant. This grant helps employers cover up to 50% of training costs for frontline employees, aiding in skill development for mid- and high-skill jobs. Individual employers can apply for up to $500,000. For details and application instructions, download and complete the Notice of Grant Opportunity (NGO).