Grow NJ (New Jersey)
Last modified on February 12, 2015.
|Applies to States or Provinces||New Jersey|
|Name||Grow NJ (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|
|Program Administrator||N.J. Economic Development Authority|
A business creating or retaining jobs in New Jersey and making a qualified capital investment at a qualified business facility can apply for grants of corporate business tax credits for job creation/retention in the amount of up to $8,000 per each new or retained full time job per year up to 10 years. Qualified eligible businesses may receive tax credits of $5,000 per year for a period of ten years for each new or retained full-time job to be located at the qualified business facility as long as the number of full-time jobs meets or exceeds the minimum requirement. In addition, a bonus award of up to $3,000 per job per year for a period of ten years may be awarded for each new or retained full-time job if the qualified eligible business meets additional criteria.
|Department||New Jersey Economic Development Authority|
|Address||PO Box 990|
|Address 2||36 West State Street|
|Place||Trenton, New Jersey|