The New Jersey Economic Development Authority (NJEDA) is accepting applications for the Brownfields Redevelopment Incentive Program. The $300 million competitive program offers up to $8 million in tax credits for the redevelopment of brownfield sites.
The NJEDA has provided an eligibility assessment tool that consists of a 2-minute survey to determine if organizations and sites may qualify for the program, which provides a one-time transferrable tax credit to incentivize environmental remediation, abatement, and demolition actives that will allow for the redevelopment of the property. For more information the Brownfields Redevelopment Incentive Program, including the on-line application portal, application checklist, and more, please see the NJEDA website.
Applications must be submitted before 5pm on September 21, 2023.
For questions about the Brownfields Redevelopment Incentive Program including the application process, please reach out to the NJEDA Brownfields Team at bftaxcredit@njeda.gov.
Contact: Frank Marshall, Esq., Associate General Counsel, fmarshall@njlm.org, 609-695-3481, x137.