The Grow New Jersey Assistance Program is Good for the Garden State’s Economy

January 2013Articles Commerce Magazine

The Grow New Jersey Assistance Program was Signed by Governor Christie January 5, 2012. This bill is designed to improve New Jersey’s business environment through financial incentives. The Grow NJ Program encourages capital investment, new job growth and existing job retention by providing businesses with a $5,000 per job annual tax credit (with a potential bonus tax credit of $3,000 per job for certain “desirable” industries) over a 10-year period. To qualify, a business must make a minimum capital investment of $20 million at a “qualified business facility” and employ at least 100 employees for the 10-year tax credit period.

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