RETROFIT NJ Program

About this funding opportunity

Open in new Tab RETROFIT NJ Program

The NJEDA is no longer accepting applications as this program is currently under review. Please continue to check this page for any updates on this program.

The Reducing Emissions through Retrofits, Optimization, Fuel-switching, and Innovative Technologies (RETROFIT NJ) Grant Program is a $75 million pilot program launched by the New Jersey Economic Development Authority (NJEDA) to provide financial assistance to multi-pronged, large-scale retrofit projects that enable holistic energy improvements at buildings, campuses, and multi-building facilities.

The NJEDA will provide grant awards ranging from $2.5 to $12.5 million to reimburse applicants for eligible hard and soft construction costs, including design, equipment, construction, and commissioning from projects that significantly reduce carbon emissions, serve as replicable models, accelerate New Jersey’s clean energy transition, and stimulate economic growth in the clean energy industry

This pilot is funded by the Regional Greenhouse Gas Initiative (RGGI) proceeds allocated to the NJEDA and will accelerate the adoption of more environmentally friendly building systems, technologies, and construction practices within New Jersey.

AMOUNT

The tax credit amount to an eligible business is calculated based on the lesser of:

• 0.1 percent of the eligible business’s total capital investment multiplied by the number of new full-time jobs; or

• 25 percent of the eligible business’s total capital investment; or

• $250 million.

BENEFITS

The Next NJ Program, AI provides tax credits to eligible businesses to offset against their state tax liability and for companies to engage in building and fostering New Jersey’s fast-growing AI ecosystem. Additionally, these tax credits are transferable under the program.

ELIGIBILITY

AI business or a division must be primarily engaged in the artificial intelligence industry or the large-scale artificial intelligence data center industry. ELIGIBILITY REQUIREMENTS GRANT AWARD ELIGIBLE USES OF GRANT FUNDING APPLICATION PROCESS FEES

Applicants

Applicants must meet the following eligibility requirements: Applicants must be Commercial, Industrial, or Institutional building owners OR equivalent tenants seeking to complete retrofit construction projects in existing eligible building spaces. Tenants must demonstrate owner approval and a valid lease for one year beyond the length of the proposed project’s construction timeline. Institutional buildings are defined as those buildings that serve a non-profit or public purpose, such as a library, hospital, public school, institution of higher education, municipal utility, public recreation or cultural facility, or government entity. The applicant must also be in substantial good standing with the New Jersey Department of Labor and Workforce Development and NJ Department of Environmental Protection to participate in the program. The applicant must provide a current tax clearance certificate at the time of grant agreement execution to demonstrate the applicant is properly registered to do business in New Jersey and in substantial good standing with the NJ Division of Taxation.

Building

Buildings must meet the following eligibility requirements: Existing building located in the state of New Jersey. Meet one of the following property classes as defined by NJAC 18:12-22: Class 4A: Commercial Property Class 4B: Industrial Property Class 4C: Apartments (for purposes of this Program, applicants that are Class 4C must be multi-family that are owned by a commercial business or institutional entity) Class 15A: Public School Property Class 15B: Other School Property Class 15C: Public Property Class 15D: Church and Charitable Property Class 15E: Cemeteries and Graveyards Class 15F: Other Tax Exempt Property Funds can be used to support multiple building projects within one application if buildings are adjacent or in a campus style arrangement. Campus-wide and multi-building…

Topic areas: Circular Economy and Sustainability, Advanced Manufacturing and Industry, Energy and Environment, Smart Cities.

Funding amount

This grant provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

RETROFIT NJ Program is administered by New Jersey Economic Development Authority (NJEDA), listed via New Jersey Economic Development Authority.