Cedarbridge Corporate Campus is located in
a NJ Urban Enterprise Zone, a Foreign Trade Zone, and is a designated
Redevelopment Area. The following business incentives are available
to tenants:
 Business
Employment Incentive Program (BEIP) Businesses
creating at least 25 new jobs in designated areas, or 75 jobs elsewhere,
may be eligible to receive a BEIP grant. The incentive grant may have
a maximum term of 40 years and be 10% - 80% of the total amount of
state income taxes withheld from newly created jobs.
Business
Relocation Assistance Grant Program (BRAG) authorizes
the NJ Commerce and Economic Growth Commission to provide grants
to businesses that create a minimum of 25 new full-time jobs by
relocating to New Jersey or expanding to a new location in the state.
Technology
Business Tax Certificate Transfer Program allows
new and expanding technology and biotechnology businesses to "sell"
their unused net operating loss (NOL) carry-overs and unused Research
and Development Tax credits to other corporate New Jersey taxpayers.
Research
and Development Tax Credit is applied
against the corporate business tax for expenses related to qualified
research activities.
Customized
Employee Training Program is paid for
by the New Jersey Department of Labor and provides grants for skills
training, education, and a wide range of support to workers and
employers. Under this program, matching grant dollars can be awarded
to employers for classroom-based and on-the-job training. 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 of workers participating in the training.
35-year
Property Tax Abatement allows tenants
to pay 35 percent of the full real estate tax rate.
Personal
Tangible Property Exemption allows items
such as copiers, forklifts, and building supplies that will be utilized
at the place of business to be purchased tax exempt.
Unemployment
Insurance Subsidy for Each Worker Businesses
which hire workers who meet one of the targeted criterion may be
eligible for this subsidy.
A
One-time Tax Credit of $1,500 applied
against NJ Corporate Income Tax will be allowed for each new full-time,
permanent employee who meets the following requirements:
• Resides in any municipality, which contains an Urban Enterprise
Zone.
• Immediately prior to employment by the qualified business
was unemployed for at
least 90 days, or dependent upon public assistance as
the primary source of income.
A
Credit of $500 for New Full-time, Permanent Employees who
do not meet the qualifications for the $1,500 tax credit, provided
the following is true:
• They are residents of any municipality in which an Urban
Enterprise Zone
is located.
• They were not employed at a location within the municipality
immediately prior to
employment by the qualified business.
Businesses
May Borrow for working capital, equipment
purchases, or building improvements at below market interest rates.
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