Funding

• Private entities, such as developers, can be eligible as applicants for clean water through public conduit borrowers

• Applicants with drinking water projects can be public community water systems privately and publicly owned, and nonprofit non-community water systems (as defined by the National Primary Drinking Water Regulations)

• All applicants must also satisfy the Water Bank's creditworthiness standards (PDF named Amended and Restated Credit Policy” under the “Policies and Procedures” section)

• CHP or Waste Heat to Power projects must achieve an annual system efficiency of at least 60% (Higher Heating Value - HHV), based on total energy input and total utilized energy output
• FC systems must achieve an annual electric system efficiency of at least 40% (HHV) based on Net Useful Electric Power plus Net Useful Thermal Production (if any) divided by the Total Fuel Input at HHV

• Participants must be electric and/or gas customers of New Jersey investor-owned utilities and pay the monthly Societal Benefits Charge (SBC)
• Incentives are offered for new construction and substantial renovations

• To qualify, eligible entities must have incurred at least $5M in total annual energy costs (on a pre-sales tax basis, aggregate of all buildings/sites) between July 1st, 2021 and June 30th, 2022 as billed by NJ investor-owned utilities and any applicable third-party suppliers associated with those accounts
• Applicant accounts must be commercially-billed and pay the Societal Benefits Charge (SBC)

• Must use natural gas and/or electricity as the primary heating fuel supplied by a New Jersey investor‐owned utility
• Must be newly constructed single family, multi‐single low‐rise, and high‐rise multifamily buildings

To be eligible for the Next NJ Manufacturing program, a project must:

• Invest at least $10 million in a business facility
• Create at least 20 new full-time jobs
• Make sure the facility mostly does manufacturing work
• Pay full-time workers a median salary at least 120% of the county's median for manufacturing
• Keep the facility as a qualified business facility during the commitment period
• Enter a collaborative relationship with a New Jersey-based school, college, workforce organization, or similar group
• Meet environmental and sustainability standards
• Follow affirmative action requirements
• Pay workers at least the prevailing wage rate for construction or building services

• Entities who are developing new, or building upon existing Registered Apprenticeship programs
• Any employer, trade associations, labor organization, or others with programs supporting the industries in which they work

• Companies that meet the program minimums for new job creation or retained jobs
• Must be located in an eligible incentive location
• Can demonstrate the award of tax credits is a “material factor” in their decision to locate in New Jersey versus an out-of-state alternative location
• Create at least 35 new, full-time jobs (requirement may be lower if business is primarily engaged in a targeted industry or meets the definition of a ""small business"")

• Businesses must own less than 10 petroleum underground storage tanks in New Jersey
• For an interest-free loan: Businesses must have a net worth of less than $2M and demonstrate they're unable to obtain a commercial loan for all or part of the eligible costs
• For a grant: Businesses must have taxable income not exceeding $250,000 and a net worth not exceeding $500,000, excluding their primary residence and pension
• Eligibility for independent institutions of higher education, nonprofit organizations, volunteer fire, ambulance, first aid, emergency or rescue company or squad, is defined in the UST Finance Act

Businesses and nonprofits must commit to create or retain 1 new full-time job for every $65,000. There is an application fee of $1,000.