NEW JERSEY INCENTIVES SUMMARY
Aspire Program
This gap financing program assists commercial, mixed-use, and residential real estate development projects.
Emerge Program
The Emerge Program is a job creation and retention incentive program that offers sellable tax credits when the state is competing with other states to attract or retain companies. Companies may be eligible for base tax credits ranging from $500 to $4,000 per job per year, with additional bonus tax credits that may increase the award to a maximum of $8,000 per job per year. The maximum term is seven years.
On-The-Job Training (OJT)
Employers may be eligible for matching grants of 50% of straight-time wages for a defined training period. OJT training must bridge the employee's skills gap. Companies may receive the OJT grant for the first six months of employment with a $10,000 cap per employee.
Notice: This list of economic development incentive programs is intended to provide a high-level overview of commonly pursued state discretionary programs. A comprehensive analysis of project details will determine the full scope of state and local incentive programs that may be available to support a specific project.