The New Jersey Economic Development Authority (NJEDA) released for public feedback updated rules for the Emerge Program as amended by P.L. 2021, c. 160. Members of the public are encouraged to review the preliminary rules and submit written feedback through an online form available on the Economic Recovery Act website.
The Emerge Program is New Jersey’s new job creation incentive program created under the ERA. Through the program, small and large businesses, as well as non-profits, can apply for tax credits to support projects that meet minimum capital investment, job creation or retention, and other requirements. To date, the NJEDA has approved two projects through the Emerge Program to support more than 3,500 good jobs.
The updated rules are the result of statutory changes made by P.L. 2021, c. 160. The draft amended rules will be available for public comment until December 1, 2021. Members of the public can review the rules and provide comment at https://www.njeda.com/economicrecoveryact/program-specific-feedback/.
In addition to the Emerge Program, the ERA creates a suite of programs that includes tax credits to incentivize job creation, new construction, and revitalization of brownfields and historic properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry. The NJEDA will continue to engage the public as new programs and rules are developed.
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.