Financing and Incentives

New Jersey Urban Transit Hub Tax Credit Program (UHTC)

Qualified businesses located in Urban Transit Hubs may qualify for tax credits equal to 100% of the qualified capital investment that may be applied against corporation business tax, insurance premiums tax or gross income tax liability.

Economic Redevelopment Growth Grant (ERGG)

The "RAD" program has been replaced with the Economic Redevelopment Growth Grant (ERGG) program which utilizes up to 75% of the incremental increase in certain State and local revenue sources to provide gap financing of up to 20% of the project cost for certain projects.

New Market Tax Credit Program (NMTC)

Businesses or nonprofit organizations in New Jersey with a project located within areas designated for Smart Growth may qualify for up to $10 million for fixed assets or working capital.

Department of Labor Training

The Office of Grant Operations creates partnerships between federal, state and local government to offer business incentives to employers through customized training grants. Through the WorkFirst NJ On-the-Job (OJT) Program, employers may receive up to half of their new employee’s gross wages for up to 26 weeks to help defray the costs of their training.