TRENTON, N.J. (April 6, 2021) – The New Jersey Economic Development Authority (NJEDA) today announced that applications are now open for the New Jersey Zero Emission Incentive Program (NJ ZIP). The $15 million pilot program will provide vouchers for up to $100,000 to businesses and institutional organizations in the greater Newark and Camden areas to support the purchase of new, zero emission medium and heavy-duty vehicles (MHDVs) such as pickup trucks, vans, busses, and box trucks.
The application for the program is available at https://www.njeda.com/njzip. Following an eligibility review, vouchers will be awarded on a first-come, first-served basis, until funds are depleted.
NJ ZIP is the first NJEDA initiative in New Jersey’s holistic, Regional Greenhouse Gas Initiative (RGGI)-funded effort to support the deployment of zero emission MHDVs. The pilot program allocates $15 million to provide vouchers to businesses and organizations purchasing new, class 2b to class 6 vehicles. The size of vouchers awarded through the program will vary depending on the class of vehicle being purchased, from a minimum of $25,000 for Class 2b vehicles to $100,000 for Class 6 vehicles. Bonuses will be available for small businesses; women-, minority-, and veteran-owned businesses; vehicles that are manufactured in New Jersey; small businesses that scrap their eligible gas- or diesel-powered MHDVs; and vendors that invest in driver education and training.
Vouchers will be awarded on a first-come, first-served basis to eligible buyers with $5 million set aside for micro and small businesses. The pilot program will only be available in the greater Newark and greater Camden areas, defined as the overburdened communities within or intersected by a circle with a 10-mile radius centered on Newark and Camden. More information, including a complete list of eligible municipalities, is available at https://www.njeda.com/njzip.
The NJEDA recently hosted three informational webinars for potential NJ ZIP applicants and vendors. Recordings and copies of the slides that were presented are available at https://www.njeda.com/njzip.
NJ ZIP is funded using proceeds from New Jersey’s participation in RGGI, a multi-state “cap-and-trade” program regulating carbon dioxide emissions. The State plans to deploy RGGI funds within four initiative categories identified in the RGGI Strategic Funding Plan: catalyzing clean, equitable transportation; promoting blue carbon in coastal habitats; enhancing forests and urban forests; and creating a New Jersey Green Fund. This Plan reflects the thoughtful public input that was collected through four public workshops and one webinar held during November and December of 2019. More than 200 individuals representing a diverse array of organizations and areas of interest, including municipalities, unions, environmental groups, environmental justice communities, transportation planning, energy use, and natural resources conservation and use, attended the four workshops or participated in the webinar event, and the agencies received additional public input via email. More information about New Jersey’s plans for using RGGI funding is available https://www.nj.gov/rggi/index.html.
About the New Jersey Economic Development Authority
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.
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.