Frequently Asked Questions (FAQs)

Get answers to common questions and more specific situations about all kinds of businesses.

What State-level financial assistance programs are available to my business?

New Jersey Economic Development Authority Overview

The New Jersey Economic Development Authority (EDA) is an independent State agency dedicated to stimulating business development, job creation and community revitalization throughout the state.

The EDA offers a wide array of programs to assist businesses in expanding operations and creating jobs. These include training programs, issuance of bonds, loans and tax incentives to qualifying businesses, assistance with real estate development projects, and special programs designed to help businesses grow in economically-depressed areas.

The EDA works closely with banks, private investors, underwriters and other sources of capital to help businesses and other entities finance projects. It can sometimes partner with banks to provide blended interest rates on loans.
The EDA assists businesses, non-profits and governmental organizations of all sizes, helping to strengthen and grow New Jersey’s economy.

Business Incentive Grants
Business incentive grant programs are often offered through the EDA to help businesses relocating to or expanding within New Jersey that will create jobs in the state.
For more information on what grants and other programs are currently available to businesses, visit

Low-Interest Financing Opportunities
New Jersey, through the EDA, offers a variety of low-interest financing options to suit the needs of business, developers and not-for-profits.

Financing opportunities include low-interest loans, loan guarantees plus tax-exempt bonds to support small, mid-size and large businesses, not-for-profit and community development organizations that build facilities, purchase equipment and develop new products and services.  Opportunities are available to a broad spectrum of businesses, including manufacturers, technology-based enterprises, services, logistical operations and tourism and arts-related organizations, among others.

The Edison Innovation Fund
The EDA’s Edison Innovation Fund provides support to support to life science and technology businesses creating jobs throughout the State. It houses several programs tailored to specific types of businesses and needs.
For more information on the Edison Innovation Fund, visit the EDA’s website at

State Resources for Brownfields Redevelopment

Brownfields and Contaminated Site Reimbursement Program (BCSRP)
BCSRP provides financial incentives for businesses and developers to clean up and redevelop polluted sites.

Eight state taxes, including sales, business use and corporate taxes are eligible to be used to reimburse the developer for remediation costs. The BCSRP also allows for the reimbursement of sales taxes associated with the purchase of building materials. Because reimbursement is based on tax collections, there is no financial limitation on the total amount to be recovered.

Brownfields Restoration Low-Interest Financing Programs
Low-interest financing is also available to developers, businesses, municipalities and community groups at various stages of the Brownfield restoration process. Developers and business owners who have signed a Brownfields and Contaminated Site Reimbursement Program agreement are eligible for this program.
Interim financing is provided to eligible borrowers for meeting the costs of the remediation of a Brownfield site. The loan must be paid once reimbursements have been received by the borrower under the Brownfield Reimbursement Agreement.

Brownfield Redevelopment Loan Fund
The New Jersey Brownfields Redevelopment Loan Fund provides low-interest loans to municipalities and developers for remediating Brownfields so they may be developed for uses that benefit the community and its tax base. Eleven municipalities (Asbury Park, Camden, Elizabeth, Long Branch, Neptune, New Brunswick, Paterson, Perth Amboy, Plainfield, Pleasantville and Vineland) have access to financial assistance from the initial $2 million in funding that has been provided through a grant from the U.S. Environmental Protection Agency. Eligible projects are being funded on a first-come, first-serve basis.

To learn more about the Brownfields reimbursement, loan programs and other programs available to businesses visit or call 609-858-6767

Investigation and Remediation
New Jersey also offers financing assistance to municipalities, developers, businesses and homeowners to investigate or remediate sites suspected of or known to have discharges of a hazardous substance.

Businesses may qualify for low-interest loans of up to $1 million for up to 10 years. Municipalities may qualify for up to $2 million per year for properties they own or for which they hold a tax certificate and have a comprehensive plan or realistic opportunity to develop or redevelop within three years.
Interim financing is also available for up to $750,000 for up to three years at below- market interest rates to developers/business owners for meeting the costs of brownfield site remediation.

Borrowers must have signed a Brownfield Reimbursement Agreement. Anticipated reimbursements must be pledged to pay principal and interest on the EDA loan.
For information on EDA redevelopment resources, visit or call 866-534-7789.

New Jersey Department of Environmental Protection

Hazardous Discharge Site Remediation Fund (HDSRF)
Loans are available to businesses or homeowners who cannot obtain funding from another lending institution for 100 percent of the cost to remediate a discharge of hazardous substances up to $1 million per year, per site. The interest rate is 2 points below the Federal Discount Rate with a minimum of 5 percent, which is determined by the New Jersey Economic Development Authority (NJEDA). The maximum loan term is 10 years.

There are three categories of grants: innocent party, innovative technology and limited restricted/unrestricted use. Eligibility for a grant is not contingent upon the inability to obtain funding or any hardship.
Innocent Party Grants are available to any party who meets the following criteria:

• Having acquired the property before Dec. 31, 1983
• Not having used the hazardous substance found at the site and
• Not having discharged the hazardous substance found at the site

If a party meets these criteria, they would be eligible for 50 percent of the total costs of the remediation, up to $1 million. The additional 50 percent can be obtained from the Hazardous Discharge Remediation Fund (HDSRF) through a loan or outside conventional financing.

Innovative Technology Grants are available to any qualifying person, who has a net worth of not more than $2 million and received the approval of the New Jersey Department of Environmental Protection for a proposed innovative technology. If a qualifying person meets the criteria, they would be eligible for up to 25 percent of the total costs, up to a maximum of $1 million for the remediation.

Limited Restricted Use/Unrestricted Use Grants are available to any qualifying person who has a net worth of not more than $2 million and receives the approval of the New Jersey Department of Environmental Protection for the implementation of a limited restricted use remedial action or an unrestricted action. The qualifying person would be eligible for up to 25 percent of the total costs, up to a maximum of $1 million for the remediation.

Other Eligible Entities (specific eligibility requirements apply)
• Tax-exempt, non-profit organizations with fewer than 100 paid employees
• Duly incorporated volunteer fire, ambulance, first aid emergency or rescue companies
• Independent colleges and universities of New Jersey

Assistance for New Jersey Technology Companies

New Jersey Commission on Science, Innovation and Technology

The New Jersey Commission on Science, Innovation and Technology, formerly known as the New Jersey Commission on Science and Technology, “will promote the state as a home for academic and technological research and development and commercialization.”  

An Innovation Council will be appointed to help resolve ways to leverage the transfer of technology research between academia and industry.    

• Which technologies will impact work in New Jersey? In particular, which industries and to what extent? What is the likely timing of these changes?

• Which groups of residents in New Jersey will be most affected by these changes?

How will these impacts differ by gender, race, income, location, and education?

• What will be the impact of these changes on our communities in New Jersey, namely how people live and how they get to work?

• In what way might these same technologies improve workplace conditions, create better jobs, and grow the State’s economy?

Access to Technology Resources Research & Excellence Program
This multi-year funding program to academic research centers, in collaboration with industrial partners, is intended to create and/or mature new science and technology focus areas that have the potential to lead to products, services and processes important to the state’s future economic development.

Intellectual Property Program
This program provides a funding source to University Technology Transfer offices to support the final development and commercialization of university held patents.

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