Search/GRANT

NJ: EMERGE PROGRAM

New Jersey Economic Development AuthorityGRANTSTATEEquity-Free
Apply Now
Amount
$1
Deadline
Open
Bootstrap Score
Complexity

Track This Opportunity

Create an account to track opportunities.

About This Opportunity

Emerge Program - NJEDA Open in new Tab EMERGE PROGRAM Please be advised that the statute extended the Emerge program to March 1, 2029. The Emerge Program, created under the Economic Recovery Act (ERA) of 2020, encourages economic development in Governor Murphy’s priority sectors and in targeted communities across New Jersey. The program provides per-job tax credits to projects that invest private capital into the state and create new good-paying jobs (or retain a large number of good-paying jobs). ELIGIBILITY AWARD SIZE FISCAL AND RESIDENT PROTECTIONS FEES APPLICATION PROCESS FORMS PROGRAM RULES ELIGIBILITY To be eligible for Emerge support, a project must: Create at least 35 new, full-time jobs. In some circumstances, this job creation requirement may be lower if a business is primarily engaged in a targeted industry, or if a business meets the definition of a “small business” as defined in the Emerge Program rules. Be located in an Eligible Incentive location.  Meet minimum capital investment requirements. Emerge tax credits must yield a minimum net positive economic benefit to the state of 200 percent to 400 percent depending on project location. Ensure that at least 80 percent of incented employees’ work time is spent in New Jersey and 80 percent of the withholdings of new or retained full-time jobs are subject to the ‘New Jersey Gross Income Tax Act’. Ensure the Qualified Business Facility can accommodate at least 50 percent of incented jobs.  Commit to stay at the Qualified Business Facility for 1.5 times the eligibility period. Demonstrate that the award of the tax credit is a “material factor” in the decision to create or retain at least the minimum number of full-time jobs. Please be advised: New Jersey State law prohibits most cannabis license and certification holders from receiving or continuing to receive an economic incentive from the NJEDA. If the applicant, or any person who controls the applicant or owns or controls more than one percent of the stock of the applicant, has applied for or received a license or a certification from the New Jersey Cannabis Regulatory Commission (NJ-CRC), the applicant is ineligible for this program and should not proceed with an application. If an application is received from an applicant that meets this criteria, the application will be declined and the application fee will not be refunded.  Eligible Incentive Locations As part of eligibility for the Emerge Program, a project must be located in an eligible incentive location, which may include: a government-restricted municipality, an enhanced area, distressed municipality, employment/investment corridor, qualified opportunity zone, or other eligible area. The Authority has developed a custom mapping tool to provide more clarity to potential applicants as to which of the aforementioned eligible incentive locations the proposed project falls within. Please click the link to review eligible i