NJEDA Expands NJ Cool Eligibility Requirements

$15M pilot program aims to reduce greenhouse gas emissions

TRENTON, N.J. (October 9, 2024) - The New Jersey Economic Development Authority (NJEDA) Board has expanded eligibility requirements for the NJ Cool Program, which provides grants to building owners and tenants undertaking retrofit construction projects that reduce greenhouse gas emissions from existing buildings. While the original program eligibility only included commercial buildings, the Authority has expanded the type of buildings eligible to apply to include industrial and institutional buildings, such as schools, non-profits, and local government buildings. Under the current pilot program, only projects in Atlantic City, Edison, and Newark are eligible for grant funding.

WHAT: Under the NJ Cool program, the NJEDA will provide grants of up to $1 million to applicants for eligible hard construction costs for emissions-reducing projects, such as updating a building's heating and cooling system. In addition to reducing emissions, the program will accelerate the adoption of more environmentally friendly building systems, technologies, and construction practices within New Jersey.

WHO: The NJ Cool program is limited to existing commercial, industrial, and institutional buildings within Atlantic City, Edison, and Newark, which are designated Overburdened Communities per the State's Environmental Justice Law. Buildings within these communities must meet select building occupancy classes or property classes to be eligible to apply. Eligible applicants may own or lease the building space that will be improved using the grant funding.

WHEN: Applications are currently open and are first-come, first-served. An updated Notice of Funding Availability will be posted when the expanded program eligibility comes into effect. Please see https://www.njeda.gov/public_information/#NOFA for updates. For more information on the program, including full application requirements and eligible projects, please monitor https://www.njeda.gov/njcool/ or email [email protected].

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.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA onFacebook, Twitter, Instagram, and LinkedIn.

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