One of New Jersey ’s most successful business expansion programs, the BEIP makes grants to firms expanding or relocating in the state that create at least 10 new jobs in the high-tech/biotech field or 25 new jobs in other non-technology business categories. The New Jersey Economic Development Authority (EDA) may approve grants for up to 10 years. The company must commit to employment for 1.5 times the length of the grant. There is a maximum award of up to 50 percent of new state income taxes generated as a result of new employees hired. It also provides an opportunity for grant awards up to 80 percent to companies that promote certain smart growth strategies. Many projects in excess of 200 jobs will capture up to 50% of the personal income tax generated. An additional 30% bonus is available for targeted industries and smart growth projects. The grants must be a material factor in the final location or expansion decision. Since its inception in 1996, the EDA, which administers the program, has executed more than 275 grants worth about $860 million, supporting the creation of approximately 60,000 new jobs and leveraging over $10 billion in total public/private investment.
 

When larger employers need to relocate, BRRAG provides employment-based grants to encourage them to relocate to New Jersey. The state provides relocation grants to businesses that retain a minimum of 250 full-time jobs by relocating to New Jersey or expanding to a new location within the state. Transferable tax credit per full-time job retained is not to exceed 80% of retained personal
income tax. The total amount for all projects is limited to $20 million per year. Tax credits may be applied against current year or one subsequent year tax period or can be sold.

The program has three tiers:

• Qualified projects with 200 to 499 retained jobs
  may receive $1,500 per job;
   
• Qualified projects with over 500 jobs can expect
  $1,500 per job retained, based on statutory funding priority; and
   
• Super-projects (size plus smart growth impact)
  receive $750 per job bonus ($2,250 total), provided they involve 2,000 jobs and the relocation is to a designated urban center. Statewide, New Jersey has provided 17 BRRAGs that have resulted in retention of over 12,000 jobs and more than $1 billion in private-sector investment.
   

The New Jersey Department of Labor and Workforce Development offers a customized training program designed to create and retain high-skill, high-wage private-sector jobs. There are grants for skills training, education, and a wide range of support for workers and employers. Grant dollars can be awarded to employers for classroom- based and on-the-job training. Grants dollars may be used to reimburse up to 60% of a company’s training costs. Grant allocations can be applied to the direct cost of training (training vendor fees, training supplies, etc.), as well as the partial reimbursement of wages for workers participating in the training. Such work force investments exceed $35 million annually.