More than $130 million in tax credits were approved by the New Jersey Economic Development Authority, according to northjersey.com. The tax credits are aimed at retaining several large companies and convincing them to expand in New Jersey and not nearby states.

NCPPP reports that The New York State Energy Research and Development Authority (NYSERDA) plans to procure $160 million in renewable energy as part of an ongoing effort to meet the state's renewable portfolio standards.

The designation of 12 brownfield opportunity areas across New York State was announced by Governor Andrew M. Cuomo. As part of the Brownfield Opportunity Areas Program, the 12 economically-challenged communities will be given priority status for grants and additional Brownfield Cleanup Program tax credit incentives.

The New Jersey Department of Transportation announced a proposed capital program that supports $2.8 billion in investments and $2.1 billion in transit improvements for Fiscal Year 2016. The Cape May County Herald reports that federal funds have increased by $800 million since last year.

Legislation that would create a 10-year Urban Enterprise Zone in Atlantic City is headed to the Senate, according to NJBIZ. The zone designation would allow the city to receive some property tax relief and provide participating businesses within the zone certain tax exemptions and credits.

September 17, 2015
Join the CDFA New York/New Jersey Financing Roundtable for the annual conference on September 17, 2015. This event will feature a number of economic development finance experts from around the state discussing development finance tools, authorities, resources and approaches, and how these can affect the New York and New Jersey economies going forward.

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