Monday, October 16, 2023

Resource Center

The CCSNJ is proud to partner with Camden Community Partnership, Inc. and the City of Camden on an event entitled “Camden Open for Business” - Tuesday, October 24, 3pm at TRIAD1828 Centre, Camden.



Please RSVP to: qlaw@camdencpinc.com. We hope to see you there!

The New Jersey Economic Development Authority is increasing the amount of tax credits available to $15 million through the Food Desert Relief Tax Credit Auction. The proceeds of the auction will fund programs aimed to improve and increase access to healthy and affordable food throughout New Jersey’s 50 Food Desert Communities (FDCs).

Eligible bidders must be New Jersey Corporation Business Tax or Insurance Premiums Tax filers. Companies can bid for tax credits at a discount of up to 15 percent. Applications will close on October 18 at 5:00 p.m.



Proceeds from the auction will be used to fund programs that will advance the priorities established by the Food Desert Relief Act (FDRA). These future grants, loans, and technical assistance initiatives will complement the Food Desert Relief Tax Credit Program, a tax credit program to support development and operation of new supermarkets in FDCs, by supporting small and mid-sized food retailers and other entities involved in strengthening food security.

The New Jersey Economic Development Authority (NJEDA) Board approved the creation of the Local Property Acquisition Grant Program. The pilot program will provide grants to governmental or not-for-profit local economic and community development entities for the acquisition of vacant properties to facilitate future redevelopment projects. Of the $24 million in funding available, approximately $3 million will support acquisitions for strategic public use projects, including public plazas, parks, and walkways, and the remainder of program funding will support acquisitions for future development projects, including commercial or mixed-use developments and research or laboratory spaces.

Maximum grant thresholds are $1 million for strategic public use developments and $4 million for future development projects. The minimum grant request for each product is $50,000. Grant funding for the program will be subject to a competitive application process expected to open in early 2024.

After eligibility review and scoring, recommended applications will be sent to the NJEDA Board for final approval.

For more information on the program, including application requirements, scoring parameters, and a full list of eligible projects, visit https://www.njeda.gov/local-property-acquisition-grant-program/.

South Jersey Business Survey

South Jersey Business Survey Third Quarter 2023

The region’s economy continued to expand in the third quarter, according to the responses to the South Jersey Business Survey. The survey’s company performance indicators for general business activity at the company level and sales remained positive but low, and both price indexes rose this quarter. Optimism about future business conditions at both the company and regional levels was less widespread among surveyed firms, as both indexes fell but remained positive this quarter.

To read more, click here.