BEIP UTHTC BRRAG RETIRED PROGRAMS. Up to 100% tax credit of capital investment made. Refundable tax credit for job retention.

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2 RETIRED PROGRAMS BEIP UTHTC BRRAG Business Employment Incentive Program Urban Transit Hub Tax Credit Business Retention and Relocation Grant Cash refund of payroll withholding taxes. Up to 100% tax credit of capital investment made. Refundable tax credit for job retention.

3 ELIGIBILITY THRESHOLDS Job Creation or Retention Capital Investment

4 Job Creation/ Retention Thresholds 1. For a business that is a technology startup company or a manufacturing company, a minimum of 10 new or 25 retained full-time jobs 2. Targeted Industry (other than above), a minimum of 25 new or 35 retained full-time jobs. Targeted Industries are: o o o o o o o o Transportation Manufacturing Defense Energy Logistics Life Sciences Technology Health Finance 3. For any other business, a minimum of 35 new or 50 retained full-time jobs

5 CAPITAL INVESTMENT REQUIREMENTS Commercial Projects $120 PSF for new construction $40 PSF for existing space Industrial Projects $60 PSF for new construction $20 PSF for existing space

6 ONCE ELIGIBILITY REQUIREMENTS ARE MET PER EMPLOYEE BASE AMOUNT IS DETERMINED BY FACILITY LOCATION For a Project located within an Urban Transit Hub municipality or Garden State Growth Zone or is a mega project For Project located within a distressed municipality but not qualifying as above For a project in a priority area, and/or commercial buildings with over 400,000 square feet of space that has been available for more than a year For a project in other eligible areas.

7 Garden State Growth Zone (GSGZ) Passaic Paterson Trenton Camden

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9 ONCE THE B A S E A M OUNT IS DETERMINED, BONUS ES ARE ADDED For a facility located within a transit-oriented development, which means a qualified business facility located within a 1/2-mile radius 2, or one-mile radius for projects located in a Garden State Growth Zone, 2 surrounding the mid-point of a New Jersey Transit Corporation, Port Authority Transit Corporation, or Port Authority Trans-Hudson Corporation rail, bus, or ferry station platform area, including all light rail stations.

10 1. For a facility located in a deep poverty pocket or in an area that is the subject of a Choice Neighborhoods Transformation Plan13 funded by the federal Department of Housing and Urban Development (a deep poverty pocket is a population census tract with a poverty level of 20% or higher) 2. For a marine terminal project in a municipality located outside the Garden State Growth Zone, but within the geographical boundaries of the South Jersey Port District 3. For a project located within an area determined to be in need of redevelopment pursuant to New Jersey s Local Redevelopment and Housing Law (sections 5 and 6 of P.L.1992, c.79) and which is located within a quarter mile of at least one US Highway and at least two NJ State Highways 4. Projects creating or retaining full time jobs in excess of 1, For a project in which a business retains at least 400 jobs and is located within the municipality in which it was located immediately prior to the application and is the US headquarters of an automobile manufacturer

11 1. For a facility at which the capital investment in an industrial premise for industrial use by the business is in excess of the minimum capital investment required, an increase of $1,000 per year for each additional amount of investment that exceeds the minimum amount required for eligibility by 20%, with a maximum increase of $3,000 per year or $5,000 per year for a mega project. 2. For a project located in a municipality in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Ocean, and Salem counties with a 2007 Municipality Revitalization Index 14 greater than For a project located within a half-mile of any light rail station constructed after the effective date of the proposed legislation.

12 For Projects with new or retained jobs between For Projects with new or retained jobs between

13 1. Located in a qualified incubator facility a commercial building with 100,000 square feet of office, laboratory or industrial space near a research institution where at least 75% of the area is for technology start-up 2. Projects located in a mixed-use development that incorporates sufficient moderate income housing on site to accommodate a minimum of 20% of the full-time employees of the business, an increase of $500 per year 3. Targeted Industry 4. If the number of new or retained jobs is between

14 1. High Salary: an increase of $250 per year during the commitment period for each 35% by which the project s average salary levels exceeds the county or Garden State Growth Zone average salary, with a maximum increase of $1,500 per year 2. Green Building: for a facility exceeding a Silver LEED rating 3. For a project that generates solar energy on site for use within the project of an amount that equals at least 50% of the project s electric supply service needs.

15 PER EMPLOYEE CAPS Base plus bonus amounts would be limited as follows: per year per job for mega projects or projects in a Garden State Growth Zone per year per job for a facility in an Urban Transit Hub per year per job for a facility in a distressed municipality, i.e., a municipality in serious fiscal distress or qualifying for state aid, or where a major rail station is located, or that is under Local Finance Board Supervision per year per job for a facility in other priority areas, which includes commercial buildings with over 400,000 square feet of space that have been available for more than a year in addition to proposed qualified incubator facility sites per year per job for a disaster recovery project per year per job for a facility in all other eligible areas While there is a per employee cap, there is no overall Project cap unlike the previous GROW NJ, which was capped at $40M per project.

16 MEGA PROJECTS INCLUDE : A facility located in a port district housing a business in the logistics, manufacturing, energy, defense, or maritime industries, either having a capital investment in excess of $20,000,000 and at which more than 250 fulltime employees of such business are created or retained, or at which more than 1,000 full-time employees are created or retained A facility located within a one-mile radius of the Atlantic City International Airport housing a business in the aviation industry, in a Garden State Growth Zone, or in a priority area housing the US headquarters and related facilities of an automobile manufacturer, either having a capital investment in excess of $20,000,000, and at which more than 250 full-time employees of such business are created or retained, or at which more than 1,000 full-time employees are created or retained A facility located in an Urban Transit Hub housing a business of any kind, having a capital investment in excess of $50,000,000, and at which more than 250 full-time employees of a business are created or retained

17 NEW, FULL TIME EMPLOYEES RECEIVE 100% OF THE BASE AND BONUS AMOUNTS RETAINED JOBS RECEIVE 50% OF THE TOTAL BASE AND BONUS AMOUNTS.