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Incentives

NJEDA Board Approves Creation of New Jersey Innovation Evergreen Fund

New Jersey Economic Development Authority (NJEDA) | Press Release

The New Jersey Economic Development Authority (NJEDA) Board today approved the creation of the New Jersey Innovation Evergreen Fund (NJIEF), a groundbreaking new tool to increase access to strategic resources and venture capital in New Jersey. The NJIEF will create partnerships between the state and the private sector to collaboratively align New Jersey’s well-resourced corporations, and national investors to support …

New Jersey Incentives, Locations, Crew Lure Big Productions Looking for a Good Break

Phil Gallo | Variety

For his first film since winning the Oscar for 2018’s “Green Book,” Peter Farrelly again ventured into new regions of the country. The 40-day shoot of “The Greatest Beer Run Ever,” set between fall 1967 and spring 1968, was split between Thailand and northern New Jersey. Thailand filled in for Vietnam; bars, churches and other locations in Newark, Paterson, Jersey …

Cinelease Studios, largest film studio in N.J., opens in Jersey City

ROI-NJ Staff (Jersey City) | ROI-NJ

Cinelease Studios, Caven Point, is the largest film studio in New Jersey, the first purpose-built facility of its kind in the state — and just what Gov. Phil Murphy and the Legislature had in mind when they reinstated the film tax credit. On Friday afternoon, Murphy cut the ribbon on the new studio, located in Jersey City, saying it is …

Every state is looking to take business from Georgia — here’s why N.J. has legitimate chance to do so

Tom Bergeron (Trenton) | ROI-NJ

When the outrage following Georgia’s new voting laws started impacting business and industry in the state — starting with the loss of Major League Baseball’s All-Star Game — New Jersey Gov. Phil Murphy responded as so many other governors did, imploring companies to bring their business to their states. But Murphy’s appeal to television and film industry companies should not be confused …

NJ approves film tax breaks for 3 producers who filmed during COVID

Daniel J. Munoz | NJBIZ

The New Jersey Economic Development Authority on March 10 approved some of the few awards for media productions during the pandemic under a lucrative and popular tax break program meant to lure the film and television industry. All three awards combined totaled $1.32 million, according to the Wednesday board agenda. Known formally as the NJ Film and Digital Media Tax Credit Program, …

EDA approves $15M program to bring more zero-emission vehicles to Newark, Camden

ROI-NJ Staff (Trenton) | ROI-NJ

In an effort to bring more zero-emission medium and heavy-duty vehicles to Newark and Camden, the board of the New Jersey Economic Development Authority on Friday approved NJ ZIP, a $15 million pilot program that will fund 100 to 300 vouchers of up to $100,000 for the purpose. The EDA said it will launch the program in the coming months. Here’s how …

$750K N.J. grant program focuses on very early stage clean tech companies

Eric Strauss | ROI-NJ

The New Jersey Commission on Science, Innovation and Technology is launching a grant program that could provide as many as 10, $75,000 grants to qualifying companies. The CSIT said in a news release that the $750,000 Clean Tech Seed Grant Program will provide grants up to $75,000 to very early stage, New Jersey-based clean technology companies, with a goal of accelerating development …

Governor Murphy Signs Historic Economic Recovery Legislation

Governor's Office | Press Release

Bill Will Provide Aid to Small Businesses and Usher in New Era of Economic Development TRENTON – Governor Phil Murphy today signed into law the landmark New Jersey Economic Recovery Act of 2020, which will provide economic support for small businesses, while propelling New Jersey’s economic recovery and growth for much of the next decade. “These programs are the product of …

Ahead of Senate and Assembly Committee Hearings, New Jersey Leaders Applaud Economic Recovery and Tax Incentives Reform Legislation

Governor's Office | Press Release

“This long-awaited incentive reform package will offer valuable support to the state’s entrepreneurial and innovation ecosystem. It is both comprehensive and sufficiently funded to help attract and retain more companies,” said James Barrood, Advisor at Tech Council Ventures. “The investor community is pleased to see Evergreen funding and increases in the state’s popular angel credit and NOL programs. I am …

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Catherine Scangarella
Chief Business Development Officer