POPULATION: 8,682,661 (2008 estimate)
LABOR FORCE: 4,563,100 (July 2009 estimate)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Agriculture, manufacturing, distribution, services
EXPANDING INDUSTRIES: International trade, biotechnology, healthcare, telecommunications, research and development, business services, travel and tourism
COLLEGE GRADUATES: (Age 25 and over) 33.9% (Sept. 2009 estimate)
BASIC BUSINESS TAXES:
Corporate Income Tax: 9 percent of net income with adjustments; 7.5 percent for small businesses
Sales and Use Tax: 7 percent of taxable sales and uses, rentals, occupancies, and admissions
Property Tax: Real property subject to taxation unless specifically exempt; taxes administered by local taxing districts; tax based on percentage of assessed value
FINANCING PROGRAMS/BUSINESS INCENTIVES:
Bond financing
Loans and loan guarantees
Small business programs:
- • Main Street Business Assistance Program
- • Invest NJ
- • FastStart for Small Business
- • New Jersey Business Growth Fund
- • Statewide Loan Pool for Business Program
- • EDA Loan Guarantee Program
- • Work force training programs, grants
- • Registered Apprenticeship Incentive Program
- • New Jersey Manufacturing Extension Program
Business incentive programs:
- • Business Employment Incentive Program (BEIP)
- • Business Retention and Relocation Assistance Grant (BRRAG)
Miscellaneous business initiatives:
- • Portfields Initiative
- • Foreign-trade zones
Technology-specific programs:
- • Edison Innovation R&D Fund Wraparound
- • Edison Innovation Commercialization Fund
- • Edison Innovation Growth Fund
- • Technology Business Tax Certificate Transfer Program
- • New Jersey Technology and Entrepreneur Fellowship Program
- • Edison Innovation Clean Energy Fund
- • Incubator Seed Fund Grant Program
- • Edison Innovation Zones
- • Edison Innovation Centers of Excellence Federal Matching Program
- • University Intellectual Property Program
- • Small Business Innovation Research Bridge Grant Program
- • High-quality office and lab facilities
Clean energy programs:
- • Clean Energy Solutions Capital Investment Loan/Grant Program
- • Clean Energy Solutions Combined Heat and Power (CHP) Program
- • Clean Energy Manufacturing Fund
Urban/redevelopment/environmental programs:
- • Urban Plus Program
- • Fund for Community Economic Development
- • Local Development Financing Fund
- • Smart Growth Predevelopment Fund
- • New Markets Tax Credits Program
- • Brownfields Redevelopment Loan Program
- • Hazardous Discharge Site Remediation Loan and Grant Program
- • Brownfields and Contaminated Site Remediation Program
- • Urban Transit Hub Tax Credit Program
- • Economic Redevelopment and Growth Grant
- • Urban Enterprise Zone Program
