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Business / Tech Programs
- Innovation Zones
New Jersey has created technology neighborhoods known as
Innovation
Zones in Camden, the Greater New Brunswick area, and Newark.
These three zones are geographically defined areas that have
been established to spur collaboration between the state’s
public research universities and technology businesses to
encourage the rapid transfer of discoveries from the lab to
the marketplace. They were created because of their
concentration of existing technology assets and developed
commercialization centers. The EDA and the New Jersey
Commission on Science and Technology work cooperatively with
other state agencies to direct resources that will support
financial, infrastructure, work force, and housing needs
within the zones. Technology and life sciences companies
locating within Innovation Zones are eligible for enhanced
financial incentives through the NJEDA.
- Techniuum Program
To enhance New Jersey’s reputation as a leader in
technological innovation and invention, the NJEDA offers
Techniuum , a
comprehensive effort of broad-based assistance to support
the evolution of technology and life sciences businesses and
grow the state’s economy. Techniuum provides a continuum of
customized, streamlined, long-term support to technology and
life sciences companies as they advance through their life
cycle of growth and expand their products and services.
Through Techniuum the EDA can assist with (1) technical
support and mentoring services; (2) financing and incentive
tools; and (3) real estate expertise and modern facilities.
EDA assistance offered under its Techniuum umbrella includes
angel and lease guarantees, low-interest loans, access to
venture capital, tax and business incentives, and affordable
modern office, laboratory, and production space and support
services designed to meet the specialized needs of
technology and life sciences companies.
Technology
- Business Tax Certificate
Transfer Program
Advanced technology or life sciences businesses with a
maximum of 225 employees and 75% or more of their operations
based in New Jersey companies are eligible to participate in
this program. Any approved business may sell their unused
net operating loss carry-forwards to a profitable corporate
tax payer in the state of New Jersey for at least 75% of the
value of the tax benefits. This allows businesses to turn
their tax losses and credits into cash for working capital
for the purchase of facilities, equipment, or other
expenses. There is $60 million available annually through
the program.
- The Technology Centre of New
Jersey
Affordable, state-of-the-art lab, production, and
research facilities are available for emerging and advanced
technology driven companies. The Technology Centre of New
Jersey offers young, growing firms, as well as large
established companies, a way to afford modern laboratory and
production facilities that are customized to fit their
specific R&D needs. For large tenants, stand-alone
facilities from 6,000 to 60,000 square feet can accommodate
state-of-the-art clean rooms and wet labs. For smaller
tenants, individual wet and dry lab modules of 800 square
feet, combinable up to 3,200 square feet, are available in
the Commercialization Center for Innovative Technologies.
Custom build-to-suit facilities are also available for
larger companies that require substantial space on an
individual basis. Located on Route 1 in North Brunswick, the
Technology Centre is in the heart of the state’s “Research
Corridor.” A full range of property and facility management
services is available to tenants, and financing may be
arranged for tenant improvements.
- Other R&D Funding Support
R&D Excellence Awards Program provides competitive,
multiyear R&D grants (up to $4 million over five years) to
academic institutions, including those partnered with
private-sector companies. About half are given in the life
sciences.
- Technology Transfer and
Commercialization Program offers repayable grants up
to $250,000 to high-tech companies with short-term
commercialization research programs.
- Edison Venture Fund
invests in emerging technology businesses in the
Mid-Atlantic. One-third of the fund is always invested
in New Jersey.
- Jumpstart Angel Investors
Network invests $200,000 to $500,000 annually in
early-stage, pre-venture capital and emerging companies
(www.jumpstartnj.com).
- Technology Centre of New
Jersey incubator $100 per square foot
available through NJEDA tenant fit-up allowance of $100
per square foot at the is also available through
the EDA.
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