New Jersey § 34:1b-244

§ 34:1b-244.

a. The Grow New Jersey Assistance Program is hereby established as a program under

the jurisdiction of the New Jersey Economic Development Authority and shall be administered

by the authority. The purpose of the program is to encourage economic development and job creation

and to preserve jobs that currently exist in New Jersey but which are in danger of

being relocated outside of the State. To implement this purpose, the program may provide tax credits to eligible businesses

for an eligibility period not to exceed 10 years. To be eligible for any tax credits pursuant to P.L.2011, c. 149 ( C.34:1B-242 et al.), a business's chief executive officer or equivalent officer shall demonstrate

to the authority, at the time of application, that: (1) the business, expressly including its landlord or seller, will make, acquire,

or lease a capital investment equal to, or greater than, the applicable amount set

forth in subsection b. of this section at a qualified business facility at which it

will: (a) retain full-time jobs in an amount equal to or greater than the applicable number

set forth in subsection c. of this section; (b) create new full-time jobs in an amount equal to or greater than the applicable

number set forth in subsection c. of this section; or (c) in combination, retain full-time jobs and create new full-time jobs in an amount

equal to or greater than the applicable number set forth in subsection c. of this

section; (2) the qualified business facility shall be constructed in accordance with the minimum

environmental and sustainability standards; (3) the capital investment resultant from the award of tax credits and the resultant

retention and creation of full-time jobs will yield a net positive benefit to the

State equaling at least 110 percent of the requested tax credit allocation amount,

which determination is calculated prior to taking into account the value of the requested

tax credit and shall be based on the benefits generated during the first 20 years

following the completion of the project, except that: (a) for a mega project or a project located in a Garden State Growth Zone, the determination

shall be based on the benefits generated during a period of up to 30 years following

the completion of the project, as determined by the authority, and (b) for a project located in a Garden State Growth Zone which qualified for the “Municipal

Rehabilitation and Economic Recovery Act,” P.L.2002, c. 43 ( C.52:27BBB-1 et al.), the net positive benefit determination shall be based on the benefits generated

during a period of up to 35 years following completion of the project, as determined

by the authority, and shall equal at least 100 percent of the requested tax credit

allocation amount and may utilize the value of those property taxes subject to the

provisions of section 24 of P.L.2013 c.161 ( C.52:27D-489s ), or the value of those property taxes that would have been assessed on the new construction,

improvements, or substantial rehabilitation of structures on real property if the

structures were not exempt because they are on real property owned by a public entity,

and incremental sales and excise taxes that are derived from activities within the

area and which are rebated or retained by the municipality pursuant to the “New Jersey

Urban Enterprise Zones Act,” P.L.1983, c. 303 ( C.52:27H-60 et seq. ) or any other law providing for such rebate or retention; and (4) except as provided in subsection f. of this section, the award of tax credits

will be a material factor in the business's decision to create or retain the minimum

number of new or retained full-time jobs for eligibility under the program. With respect to the provisions of paragraph (3) of this subsection, in the case of

a project located in a Garden State Growth Zone, the authority, in its discretion,

may award bonuses in its net positive benefit calculation. b. For all projects approved after the effective date of P.L.2013, c. 161, the minimum capital investment required to be eligible under this program shall be

as follows: (1) for the rehabilitation, improvement, fit-out, or retrofit of an existing industrial,

warehousing, logistics, or research and development premises for continued similar

use by the business in at least 51 percent of the gross leasable area of the premises,

a minimum investment of $20 per square foot of gross leasable area; (2) for the new construction of an industrial, warehousing, logistics, or research

and development premises for similar use by the business in at least 51 percent of

the gross leasable area of the premises, a minimum investment of $60 per square foot

of gross leasable area; (3) for the rehabilitation, improvement, fit-out, or retrofit of an existing premises

that does not qualify pursuant to paragraph (1) or (2) of this subsection, a minimum

investment of $40 per square foot of gross leasable area; and (4) for the new construction of a premises that does not qualify pursuant to paragraph

(1) or (2) of this subsection, a minimum investment of $120 per square foot of gross

leasable area. The minimum capital investment required by this subsection shall be reduced by one-third

for projects located in a Garden State Growth Zone or projects located within Atlantic,

Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, or Salem counties. c. The minimum number of new or retained full-time jobs required to be eligible under

this program shall be as follows: (1) for a business that is a technology startup company or a manufacturing company,

a minimum of 10 new or 25 retained full-time jobs; (2) for a business engaged primarily in a targeted industry other than a technology

startup company or a manufacturing company, a minimum of 25 new or 35 retained full-time

jobs; and (3) for any other business, a minimum of 35 new or 50 retained full-time jobs. The minimum number of new or retained full-time jobs required by this subsection shall

be reduced by one-quarter for projects located in a Garden State Growth Zone or projects

located within Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean,

or Salem counties. d. To assist the authority in determining whether a proposed capital investment will

yield a net positive benefit, the business's chief executive officer, or equivalent

officer, shall submit a certification to the authority indicating: (1) that any existing

full-time jobs are at risk of leaving the State or being eliminated; (2) that any

projected creation or retention, as applicable, of new full-time jobs would not occur

but for the provision of tax credits under the program; and (3) that the business's

chief executive officer, or equivalent officer, has reviewed the information submitted

to the authority and that the representations contained therein are accurate, provided

however, that in satisfaction of the provisions of paragraphs (1) and (2) of this

subsection, the certification with respect to a project in a Garden State Growth Zone

that qualifies under the “Municipal Rehabilitation and Economic Recovery Act,” P.L.2002, c. 43 ( C.52:27BBB-1 et al.), or a project located in a Garden State Growth Zone which contains a Tourism

District as established pursuant to section 5 of P.L.2011, c. 18 ( C.5:12-219 ) and regulated by the Casino Reinvestment Development Authority, shall indicate that

the provision of tax credits under the program is a material factor in the business

decision to make a capital investment and locate in a Garden State Growth Zone that

qualifies under the “Municipal Rehabilitation and Economic Recovery Act,” P.L.2002, c. 43 ( C.52:27BBB-1 et al.), or a Garden State Growth Zone which contains a Tourism District as established

pursuant to section 5 of P.L.2011, c. 18 ( C.5:12-219 ) and regulated by the Casino Reinvestment Development Authority. In the event that this certification by the business's chief executive officer,

or equivalent officer, is found to be willfully false, the authority may revoke any

award of tax credits in their entirety, which revocation shall be in addition to any

other criminal or civil penalties that the business and the officer may be subject

to. When considering an application involving intra-State job transfers, the authority

shall require the business to submit the following information as part of its application:

a full economic analysis of all locations under consideration by the business; all

lease agreements, ownership documents, or substantially similar documentation for

the business's current in-State locations; and all lease agreements, ownership documents,

or substantially similar documentation for the potential out-of-State location alternatives,

to the extent they exist. Based on this information, and any other information deemed relevant by the authority,

the authority shall independently verify and confirm, by way of making a factual finding

by separate vote of the authority's board, the business's assertion that the jobs

are actually at risk of leaving the State, and as to the date or dates at which the

authority expects that those jobs would actually leave the State, or, with respect

to projects located in a Garden State Growth Zone that qualifies under the “Municipal

Rehabilitation and Economic Recovery Act,” P.L.2002, c. 43 ( C.52:27BBB-1 et al.), or projects located in a Garden State Growth Zone which contains a Tourism

District as established pursuant to section 5 of P.L.2011, c. 18 ( C.5:12-219 ) and regulated by the Casino Reinvestment Development Authority, the business's assertion

that the provision of tax credits under the program is a material factor in the business's

decision to make a capital investment and locate in a Garden State Growth Zone that

qualifies under the “Municipal Rehabilitation and Economic Recovery Act,” P.L.2002, c. 43 ( C.52:27BBB-1 et al.), or in a Garden State Growth Zone which contains a Tourism District as established

pursuant to section 5 of P.L.2011, c. 18 ( C.5:12-219 ) and regulated by the Casino Reinvestment Development Authority, before a business

may be awarded any tax credits under this section. e. A project that consists solely of point-of-final-purchase retail facilities shall

not be eligible for a grant of tax credits. If a project consists of both point-of-final-purchase retail facilities and non-retail

facilities, only the portion of the project consisting of non-retail facilities shall

be eligible for a grant of tax credits. For a qualified business facility that is a mixed-use project that includes retail

facilities and that is located in a Garden State Growth Zone or the Atlantic City

Tourism District as established pursuant to section 5 of P.L.2011, c. 18 ( C.5:12-219 ) and regulated by the Casino Reinvestment Development Authority, retail facilities

in an amount up to 7.5 percent of the mixed-use project may be included in the mixed-use

project application for a grant of tax credits along with the non-retail facilities,

and that application may include in the aggregate the pro-rata number of full-time

employees employed by any number of tenants or other occupants of the included retail

facilities. If a warehouse facility is part of a point-of-final-purchase retail facility and

supplies only that facility, the warehouse facility shall not be eligible for a grant

of tax credits. For the purposes of this section, a retail facility of at least 150,000 square feet,

of which at least 50 percent is occupied by a full-service supermarket or grocery

store, located in a Garden State Growth Zone which qualified under the “Municipal

Rehabilitation and Economic Recovery Act,” P.L.2002, c. 43 ( C.52:27BBB-1 et al.), or a tourism destination project in the Atlantic City Tourism District as

established pursuant to section 5 of P.L.2011, c. 18 ( C.5:12-219 ), or catalog distribution centers shall not be considered point-of-final-purchase

retail facilities. f. The authority may determine as eligible for tax credits under the program any business

that is required to respond to a request for proposals and to fulfill a contract with

the federal government although the business's chief executive officer or equivalent

officer has not demonstrated to the authority that the award of tax credits will be

a material factor in the business's decision to retain the minimum number of retained

full-time jobs, as otherwise required by this section. The authority may, in its discretion, consider the economic benefit of the retained

jobs servicing the contract in conducting a net benefit analysis required by paragraph

(4) of subsection a. of this section. For the purposes of this subsection, “ retained full-time jobs ” includes jobs that are at risk of being eliminated. Applications to the authority for eligibility under the program pursuant to the

criteria set forth in this subsection shall be completed by December 31, 2013. Submission of a proposal to the federal government prior to authority approval shall

not disqualify a business from the program. g. Nothing shall preclude a business from applying for tax credits under the program

for more than one project pursuant to one or more applications. h. A business shall not be required to purchase pinelands development credits under

the “Pinelands Protection Act,” P.L.1979, c. 111 ( C.13:18A-1 et seq. ), the pinelands comprehensive management plan, or any other rule or regulation adopted

pursuant to that act in connection with any approval or relief obtained related to

a qualified business facility located in an aviation district on or after the effective

date of P.L.2018, c. 120, 1 except if seeking to develop in permanently protected open space pursuant to the

Pinelands Protection Act. 1

L.2018, c. 120, eff. Oct. 3, 2018.