The New Jersey Economic Development Authority (EDA) is an independent government entity in the

U.S. state In the United States, a state is a constituent political entity, of which there are 50. Bound together in a political union, each state holds governmental jurisdiction over a separate and defined geographic territory where it shares its so ...

New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...

dedicated to broadening and expanding the state's economic base. The EDA creates public-private partnerships to provide access to capital by New Jersey's business community. The EDA's primary emphasis is on providing access to funds for small and mid-size businesses and nonprofit organizations. The EDA also supports entrepreneurial development through training programs.

Real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parce ...

projects that will create business opportunities and enhance community revitalization efforts, are another goal pursued by the EDA.

2019 audit

In January 2019, Governor

Phil Murphy Philip Dunton Murphy (born August 16, 1957) is an American politician, diplomat, and financier serving as the 56th governor of New Jersey since 2018. A member of the Democratic Party (United States), Democratic Party, he was elected governor i ...

signed an executive order to initiate an audit of the

tax incentive A tax incentive is an aspect of a government's taxation policy designed to incentive, incentivize or encourage a particular economic activity by reducing tax payments. Tax incentives can have both positive and negative impacts on an economy. Amo ...

s made to businesses by the New Jersey Economic Development Authority. It found numerous cases were tax credits given during the

governorship of Chris Christie Chris Christie took office as the 55th governor of New Jersey on January 19, 2010, began his second term on January 21, 2014, and left office on January 16, 2018. Electoral history Cabinet Finances and budget 2010 New Jersey budget Gov ...

were given under false pretenses.

References

External links

New Jersey Economic Development Authority
Economic Development Authority Business incubators of the United States State departments of economic development in the United States {{NewJersey-stub