New Jersey Economic Development Authority (NJEDA)

Trusted guidance for NJEDA incentives, compliance, and certification requirements.

If your business has been awarded an incentive program through the New Jersey Economic Development Authority (NJEDA), you are required to undergo ongoing compliance verification throughout the award term to confirm all conditions are met before benefits are released.

This mandatory verification requires an independent CPA report. EisnerAmper’s Assurance team is a trusted provider of Agreed-Upon Procedures (AUP) engagements, specifically designed to meet these rigorous compliance requirements, giving you and the NJEDA the assurance needed to move forward.

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Understanding NJEDA Incentive Programs

NJEDA has offered a range of incentive programs to support business growth and economic development. While these programs are no longer active, they laid the foundation for today’s incentives under the Economic Recovery Act:

Business Employment Incentive Program (BEIP)
Business Retention and Relocation Assistance Grant (BRRAG)
Urban Transit Hub Tax Credit (UTHTC)
Grow NJ Assistance (Grow NJ)
Economic Redevelopment and Growth (ERG)

New Generation of Incentives

2020 Economic Recovery Act

EisnerAmper continues to provide the required CPA certification services for businesses awarded under the newest generation of NJEDA incentive programs, including:

Aspire Program (Real Estate Development Tax Credit)

Designed to support mixed-use, commercial, and residential development projects that create jobs and promote placemaking. Compliance typically requires verifying eligible capital costs and project completion milestones.

Emerge Program (Jobs-Based Tax Credit)

The state’s principal job creation and retention tax credit program. Compliance hinges on verifying full-time employment counts, average wage requirements, and the location of those jobs over the defined compliance period.

Requirements & Importance

NJEDA CPA Certification

Once a company is awarded a tax credit or grant, it must certify that it has met the specific job-creation, capital-investment, or other performance commitments outlined in the incentive agreement. This is where the independent CPA certification becomes mandatory.

Why Accuracy Matters (Agreed-Upon Procedures)

The NJEDA carefully reviews all submitted reports before credits are issued. Errors or omissions in the compliance report can lead to delays or even jeopardize the realization of your tax credits.

An independent CPA AUP engagement provides:

Procedures aligned to meet the requirements of your incentive agreement
Verification of eligible costs and/or employment requirements required by NJEDA
A clear report that NJEDA can rely on for its approval process

EisnerAmper’s Role in the Process

EisnerAmper turns compliance from a hurdle to an opportunity by focusing on assurance-based verification. EisnerAmper’s professionals perform Agreed-Upon Procedures (AUP) engagements to certify the information required by the NJEDA.

Our procedures are designed and executed in strict accordance with AICPA professional standards. We have a longstanding working relationship with NJEDA staff, which helps provide clarity, anticipate questions, and drive efficiency throughout the certification process.

EisnerAmper has supported clients in securing over $1 billion in NJEDA-approved incentives through compliant, accurate, and timely certifications. We bring deep, current knowledge of the Authority’s evolving requirements to your engagement.

Need NJEDA Certification Support?

If your business has received an NJEDA incentive award and requires an independent CPA certification for compliance verification, contact EisnerAmper today.

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Joseph DiFalco

Joseph DiFalco is an Audit Partner providing accounting, auditing and business consulting services, and helps guide the firm’s International Financial Reporting Standards (IFRS) initiative.

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