Incentives

ON3 is entitled to participate in the Grow NJ Assistance Program, a powerful job creation and retention incentive program designed to strengthen New Jersey’s competitive edge. Companies that create jobs in New Jersey are eligible for a potential benefit ranging from $7,000 to $10,750 per employee per year in tax incentives.

At a 200 square feet per employee space metric, this tax incentive could provide approximately $35.00 PSF–$53.75 PSF in savings per year.

$7,000–$10,750

tax credit per new job per year

$35.00–$53.75

potential occupancy cost savings per annum

Grow NJ Award Potential
Per New Job
Qualified Site Base Credit
$4,000
Qualified Site Bonus Credit: Building w/more than 1 mm sq.ft. of office/lab space vacant for more than 1 year
$1,000
Qualified Site Bonus Credit:Transit Oriented Development *
$2,000
Other Eligible Bonus Credits
Per New Job
Median salary in excess of county's existing median
$250–$1,500
Large Numbers of new and retained full-time jobs: 250–1,001+
$500–$1,500
Business in a targeted industry: transportation, defense, energy, life sciences, logistics, technology, health, finance, manufacturing
$500
Exceed LEED “Silver” or completes substantial remediation
$250
Total Grow NJ Award per New Job, per Year up to 10 Years
$7,000–$10,750
Total Grow NJ Award per Retained Job—the lesser of:
1/10 of the Capital Investment or 50% of the New Job Award
* availability limited depending upon application date