The New Jersey Economic Development Authority (NJ EDA) operates a number of programs for companies both within and looking to relocate to New Jersey. Many of these are intended to assist businesses that are committed to reducing their impact on the climate and interested in getting involved in the clean energy supply chain. Significant incentives within these programs are also available specifically for women and minority owned businesses. The list below includes several programs that may be of interest:
This is a co-lending program in which the EDA will provide $250,000 to $10 million in loans provided they are matched by a financial institution. These loans are intended to finance clean energy projects in the state for businesses with fewer than 750 employees. Click the link above for more details about eligibility and the application process!
The EDA will cover costs related to brownfield remediation and subsequent redevelopment through this program. Developers must submit applications by September 21st in order to be considered for the tax credits provided by this incentive. More information regarding eligibility and specific requirements for the application can be found in the link above.
This soon to be launched program will allow property owners to finance renewable energy, energy efficiency, water conservation, and resilient design upgrades with loans that will be repaid through an additional charge similar to a property tax. The advantages of this financing strategy, potential structure of the program, and other details can be found via the link above. While businesses cannot apply until the program begins, the NJEDA will soon launch a Project Indication of Interest form on the same website linked above in order to gauge interest and discuss details with potential future applicants.