RETROFIT NJ Program

Open in new Tab RETROFIT NJ Program Due to limited remaining funding, as of April 24, 2026, all new RETROFIT NJ Program applications will be added to a waitlist and will not require the $1,000 application fee. Waitlist applications will be reviewed in the order they are received, if sufficient program funding is available. Upon notification from NJEDA staff, the application fee will be required to proceed with application review. APPLY HERE The Reducing Emissions through Innovative Technologies (RETROFIT NJ) Grant Program is a $75 million pilot program launched by the New Jersey Economic Development Authority (NJEDA) to provide financial assistance to multi-pronged, large-scale retrofit projects that enable holistic energy improvements at multi-building facilities. The NJEDA will provide grant awards ranging from $2.5 to $12.5 million to reimburse applicants for eligible hard and soft construction costs, including commissioning from projects that significantly reduce carbon emissions, serve as replicable models, accelerate New Jersey’s clean energy transition, and stimulate economic growth in the clean energy industry This pilot is funded by the Regional Greenhouse Gas Initiative (RGGI) proceeds allocated to the NJEDA and will accelerate the adoption of more environmentally friendly building construction practices within New Jersey. AMOUNT The tax credit amount to an eligible business is calculated based on the lesser of: • 0.1 percent of the eligible business’s total capital investment multiplied by the number of new full-time jobs; or • 25 percent of the eligible business’s total capital investment; or • $250 million. BENEFITS The Next NJ Program – AI provides tax credits to eligible businesses to offset against their state tax liability and for companies to engage in building and fostering New Jersey’s fast-growing AI ecosystem. Additionally, these tax credits are transferable under the program. ELIGIBILITY AI business or a division must be primarily engaged in the artificial intelligence industry or the large-scale artificial intelligence data center industry. ELIGIBILITY REQUIREMENTS GRANT AWARD ELIGIBLE USES OF GRANT FUNDING APPLICATION PROCESS FEES Applicants Applicants must meet the following eligibility requirements: Applicants must be Institutional building owners OR equivalent tenants seeking to complete retrofit construction projects in existing eligible building spaces. Tenants must demonstrate owner approval and a valid lease for one year beyond the length of the proposed project’s construction timeline. Institutional buildings are defined as those buildings that serve a non-profit or public purpose, such as a school, institution of higher education, municipal utility, public recreation or cultural facility, or government entity. The applicant must also be in substantial good standing with the New Jersey Department of Labor and Workforce Development and NJ Department of Environmental Protection to participate in the program. The applicant must provide a current tax clearance certificate at the time of grant agreement execution to demonstrate the applicant is properly registered to do business in New Jersey and in substantial good standing with the NJ Division of Taxation. Building Buildings must meet the following eligibility requirements : Existing building located in the state of New Jersey. Meet one of the following property classes as defined by NJAC 18:12-22: Class 4A: Commercial Property Class 4B: Industrial Property Class 4C: Apartments (for purposes of this Program, applicants that are Class 4C must be multi-family that are owned by a commercial business or institutional entity) Class 15A: Public School Property Class 15B: Other School Property Class 15C: Public Property