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During its recent board meeting, the New Jersey Economic Development Authority (NJEDA) announced it invested more than $1.8 billion in 60 programs in 2024.

The agency says the numbers reflect the breadth of its toolkit of initiatives and products – hitting into a number of economic sectors – and in 2024, supporting more than 2,800 projects and businesses through tax credits, loans, grants and bonds.

Highlights from the robust 2024 efforts include:

• Over $1 billion in tax credits to 14 projects through the Aspire Program
• Over $32 million to 19 projects under Phase One of the Activation, Revitalization, and Transform (A.R.T.) Program
• More than $67 million to over 365 child care centers through the Child Care Facilities Improvement Program
• More than $156 million in film and $95 million in digital media tax credit awards through the Film and Digital Media Tax Credit Program
• Over $25 million in projects financed through the NJ Manufacturing Voucher Program (MVP)
• More than 900 projects funded with over $25 million in financing under the Small Business Improvement Grant and Small Business Lease Grant
• And much more

“Since Gov. Murphy took office in 2018, New Jersey has been a national leader in economic growth by investing in the industries of the future, supporting main streets, and providing vital resources and funding options for entrepreneurs,” said NJEDA Chief Executive Officer Tim Sullivan. “Through a growing toolkit of programs, the NJEDA will build on 2024’s impressive investments to ensure that New Jersey businesses and communities to continue to thrive.”