$20M Expansion to Pilot Program Helps Jersey Shore Businesses &
Organizations Purchase Zero-Emission Medium-Duty Vehicles
The New Jersey Economic Development Authority opened applications for its popular New Jersey Zero Emission Incentive Program (NJ ZIP) pilot to businesses and organizations in the Greater Shore Area to help them offset the cost of purchasing new, zero-emission medium-duty vehicles (MDVs). Last month, the NJEDA Board approved a $20 million expansion of the program funding pool, which builds on momentum generated since the launch of the clean energy initiative. NJ ZIP is also available to entities in the greater Newark, Camden, and New Brunswick areas.
With this expansion, nearly $45 million has been allocated to the voucher pool. Applications are being accepted on a rolling basis and can found at http://www.njeda.com/njzip. The website also includes links to useful resources for potential program applicants, including: webinars for vendors and purchasers, eligibility requirements, frequently asked questions, accounting of remaining funds, and a link to email the NJ ZIP program manager directly.
Businesses and organizations in the four designated greater community areas can apply for vouchers to purchase new, Class 2b to Class 6 zero-emission MDVs. The size of vouchers awarded through the program varies 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 are available for small businesses (fewer than 25 staff or less than $5 million in annual revenues); women-, minority-, and veteran-owned businesses; vehicles that are manufactured in New Jersey; and small businesses that scrap their eligible MHDVs. More information on eligibility and processes is available at https://www.njeda.com/njzip.
“Our shore communities have repeatedly experienced the long-term impacts of climate change over the last decade and it is incumbent upon us to continue to create and leverage innovative solutions to blunt these effects,” NJEDA Chief Executive Officer Tim Sullivan said. “NJ ZIP sits at the intersection of clean energy and environmental justice and is a vital part of Governor Phil Murphy’s whole-of-government approach to combating climate change and spurring economic opportunities in historically overburdened communities.”
For the purposes of this pilot expansion, the Greater Shore Area is defined as the overburdened communities within or intersected by a line set at a 10-mile distance from New Jersey’s eastern Atlantic shore, spanning approximately from Sandy Hook Bay to Delaware Bay. This includes the following municipalities:
Absecon, Asbury Park, Atlantic City, Barnegat Township, Berkeley Township, Bradley Beach Borough, Brick Township, Brigantine, Cape May, Colts Neck Township, Eatontown Borough, Egg Harbor City, Egg Harbor Township, Farmingdale Borough, Galloway Township, Highlands Borough, Holmdel Township, Howell Township, Keansburg Borough, Keyport Borough, Lacey Township, Lakewood Township, Little Egg Harbor Township, Long Branch, Lower Township, Manchester Township, Middle Township, Middletown Township, Neptune City Borough, Neptune Township, North Wildwood, Northfield, Ocean City, Ocean Gate Borough, Ocean Township, Pleasantville, Point Pleasant Beach Borough, Red Bank Borough, Seaside Heights Borough, Shrewsbury Township, Somers Point, South Toms River Borough, Stafford Township, Tinton Falls Borough, Toms River Township, Tuckerton Borough, Union Beach Borough, Ventnor City, Wildwood, Woodbine Borough
Vouchers are available on a first-come, first-served basis, with set-asides for the Greater Shore Areas, small- and micro-businesses, and passenger transportation. Based on the continued positive results of this expansion of the pilot program, additional expansions or a longer-term program with expanded eligibility may be proposed.
This latest NJ ZIP expansion is being funded using proceeds from New Jersey’s participation in the Regional Greenhouse Gas Initiative (RGGI), a multi-state “cap-and-trade” program regulating carbon dioxide emissions, that New Jersey was rejoined by Executive Order of Governor Murphy in 2019. More information about New Jersey’s plans for using RGGI funding is available https://www.nj.gov/rggi/index.html.
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.