Applications for the New Jersey Economic Development Authority’s (NJEDA) Next New Jersey Program – AI are now open. The program will drive economic growth, collaboration, and the development of AI infrastructure across the state by providing tax credits to eligible businesses investing in large-scale AI data centers and companies engaging in AI-related activities.

WHAT: The $500 million allocation to the Next New Jersey Program – AI will provide tax credits to eligible businesses to engage in building and fostering New Jersey’s fast-growing AI ecosystem. The program builds on Governor Phil Murphy’s goal of establishing New Jersey as a leader in AI by encouraging private investment into the state’s AI sector.        

WHO: The program will be open to businesses or divisions primarily engaged in the AI industry or the large-scale AI data center industry. Businesses must commit to creating at least 100 new eligible full-time jobs and meet a minimum capital investment of $100 million to be eligible for tax credits. Additionally, the program requires that the business enter into a collaborative relationship with a New Jersey-based public or private research university, technology startup, incubator, accelerator, or similar entity.

WHEN: Applications for the Next New Jersey Program – AI are open. For more information, and to apply, visit https://www.njeda.gov/nextnjai/. 



About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.