NJ RISE Program

Open in new Tab NJ RISE Program The NJEDA is now accepting applications for the NJ RISE Program. Please click the APPLY HERE button on the right to access the application. New Jersey Re-assigning In State Employees (NJ RISE) is a new program to incentivize businesses to re-assign New Jersey residents who are working in another state to a New Jersey location. The $10 million NJ RISE Program will provide grants to companies to relocate its New Jersey-resident employees, ensuring a residents’ income taxes stay in New Jersey, which will help increase tax revenue. DOLLAR AMOUNT The value of all grants to the business under the program shall not exceeded $500,000 per EIN. BENEFITS This program will help bring New Jerseyans tax dollars back to our state and fund critical priorities that will make New Jersey a stronger, fairer place to call home. ELIGIBILITY Business principally located in another state that uses convenience of the employer income taxation rule such as New York. PRODUCT DESCRIPTION ELIGIBILITY AWARD SIZE FEES ADDITIONAL INFORMATION NJ RISE’s goal is to increase New Jersey’s Gross Income Tax Withholdings by encouraging eligible businesses to re-assign their out of state New Jersey resident employees to New Jersey by issuing an incentive based upon on the employee’s withholdings. The NJ RISE Program is a pilot program that will provide grants to businesses principally located out of state that re-assign New Jersey residents currently assigned to work in a state that employs the “convenience of employer” income taxation rule to work in a New Jersey location. The grant is equal to the amount of New Jersey Gross Income Tax withholdings of the re-assigned resident employees during one tax year of the business, not to exceed $500,000 in the aggregate per business. The sum of all grants approved will not exceed $10 million per State fiscal year. States such as New York use “convenience of employer” where an employee who resides out of state is taxed based on the employer’s assigned location. For example, if a New Jersey-resident works in a state with “convenience of employer” (State A) three days a week and from home the other two days, the employee will be taxed by State A for all five days, because the work done from home in New Jersey was at the convenience of the employer. Applications will be accepted on a rolling basis until funding is exhausted. The business has 25 or more Full-Time Employees The business must submit a completed application to the EDA on or before July 1, 2028 A Business Principally Located In Another State that uses convenience of the employer income taxation rule such as New York Must be in substantial good standing with the New Jersey Department of Labor and Workforce Development (LWD) and the New Jersey Department of Environmental Protections (DEP) Re-assigned Employees may include Full-Time and part-time Employees but not independent contractors or individuals working on a consulting basis for the business A current tax clearance will need to be provided at application and maintained through disbursement to demonstrate the applicant is properly registered to do business in New Jersey and in substantial good standing with the New Jersey Division of Taxation