State approves rules, eyes May apps for $1.1B corporate tax break program May 12, 2021
12:32 pm
The New Jersey Economic Development Authority’s board on May 12 approved interim rules for a $1.1 billion corporate tax break program meant to act as a cornerstone for the state’s post-COVID economy recovery.
Called NJ Emerge, the proposal is capped at $1.1 billion a year for six years, with a seventh potential year for any unused tax credits.
It’s part of the mammoth $14.5 billion economic incentive program Gov. Phil Murphy signed in early January, which he, business leaders and state lawmakers contend will shape the course of New Jersey’s economy amid its reopening.
Press Releases
Murphy Administration to Highlight Infrastructure Investments Aimed at Addressing Climate Change and Economic Development During National Infrastructure Week May 12, 2021, 5:56 pm | in
Murphy Administration to Highlight Infrastructure Investments Aimed at Addressing Climate Change and Economic Development During National Infrastructure Week
05/12/2021
TRENTON – The Murphy Administration will host a series of events tomorrow, Thursday, May 13, highlighting the Administration’s infrastructure investments aimed at addressing climate change and economic development during National Infrastructure Week. The Administration will focus on the innovative, whole-of-government approach to electric vehicles, climate resilience, workforce development, and environmental justice through a combination of virtual and in-person events. Infrastructure week highlights investments, economic growth, and workforce development opportunities to reduce the impa
Caladrius Biosciences (NASDAQ:CLBS), (SAVA) - Caladrius Biosciences, Cassava Sciences Secure Non-Dilutive Funding For Product Development benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience. Necessary
UpdatedTue, May 11, 2021 at 1:46 pm ET
Replies(19)
The money is being split between qualifying small business and individuals previously excluded from relief, according to officials. (Shutterstock)
NEW JERSEY – The Garden State is ponying up $235 million in funding for small business relief and $40 million in funding for an excluded residents fund to assist those negatively impacted by the COVID-19 pandemic, according to Governor Phil Murphy.
The new small business funding, proposed by the Governor s Office and agreed upon by legislative leadership, will fulfill existing Phase IV small business grant requests made to the New Jersey Economic Development Authority (EDA), while the new direct cash assistance program will help New Jerseyans in need who have been excluded from previous rounds of COVID relief.