Business Employment Incentive Program (BEIP) (New Jersey)

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Last modified on February 12, 2015.

EZFeed Policy

Place New Jersey


   
Applies to States or Provinces New Jersey
Name Business Employment Incentive Program (BEIP) (New Jersey)
Policy Category Financial Incentive
Policy Type Grant Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy
Active Policy Yes

Implementing Sector State/Province



























Program Administrator N.J. Economic Development Authority
Primary Website http://www.njeda.com/web/Aspx_pg/Templates/Npic_Text.aspx?Doc_Id=310&midid=962&menuid=962&topid=730



Last Review 2014-09-15



Summary

Economically viable expanding or relocating businesses that create jobs in New Jersey are eligible to secure annual incentive grants via the Business Employment Incentive Program (BEIP) of up to 80% of the total amount of employees' state income taxes withheld by the company during the calendar year from the new employees hired, awarded for up to 10 years, to a maximum of $50,000 per employee over the course of the grant. Approved businesses receive annual cash grants based on the number of new jobs they have created in the State of New Jersey.



Policy Contact

Department New Jersey Economic Development Authority

Address PO Box 990
Address 2 36 West State Street
Place Trenton, New Jersey
Zip/Postal Code 08625-0990



Email CustomerCare@njeda.com
Website http://www.njeda.com/web/Aspx_pg/Templates/Pic_Text.aspx?Doc_Id=89&midid=729&menuid=729&topid=717
     
     


















References