The New Jersey Economic Development Authority on Tuesday opened the auction for up to $60 million in state tax credits available through the New Jersey Innovation Evergreen Fund Program and the Food Desert Relief Program.
The New Jersey Innovation Evergreen Program (NJIEF) helps fund promising high-growth startups by matching private investment with state money raised from selling tax credits to large companies that want to support the state’s economic development efforts. Corporations can purchase credits for a minimum of 75% percent of face value to offset their state Corporation Business Tax or Insurance Premium Tax liability.
For the 2025 auction year, $50 million in tax credits is available for purchase through the NJIEF. Eligible bidders purchase at least $500,000 in tax credits. Completed bid applications, including initiating a refundable deposit, must be received by 5 p.m. on Oct. 3, 2025.
In addition to their bid, purchasers of NJIEF tax credits must fulfill a self-defined strategic commitment to support the state’s innovation economy and nominate a company representative to serve on the New Jersey Innovation Evergreen Advisory Board.
The NJEDA has also opened the auction for $10 million in tax credits available through the Food Desert Relief Program, an initiative that supports development of supermarkets in 50 New Jersey communities without easy access to fresh food. Eligible bidders must purchase at least $500,000 in tax credits at a minimum of 85% of face value.
A refundable deposit of 10% of tax credit purchase value must be initiated via wire transfer before the auction closes at 5 p.m. on Oct. 3, 2025.
For more information about the NJ Innovative Evergreen Program tax auction, including the application, go here.
For more information about the Food Desert Relief Program tax auction, including the application, go here.
