Eligible Companies Could Receive up to $500,000

TRENTON – The New Jersey Economic Development Authority (NJEDA) has launched a marketing campaign to promote incentives designed to encourage New York-based companies with New Jersey employees to open New Jersey offices or allow those employees to work from home. New Jersey Re-assigning In-State Employees Program (NJ RISE), administered by the NJEDA, will provide grants to businesses who re-assign New Jersey residents working in another state (such as New York) to a New Jersey location. The program will allow employees to work closer to home, shortening their commute, and returning New Jerseyans’ tax dollars to the state.

“From the beginning, I vowed to fight congestion pricing, because New York should not balance its budget on the backs of New Jersey families,” said Governor Phil Murphy. “Back in 2023, I signed legislation establishing a grant program that would incentivize businesses in states like New York to reassign their New Jersey resident employees to work in our state. This would not only cut down on costs and travel time for commuters, but would keep their tax dollars in New Jersey. Our fight against congestion pricing isn’t over and we won’t allow another state to line its coffers with our hard-earned money.”

The first billboards promoting NJ RISE to commuters appeared Monday, at the 39th St. entrance to the Lincoln Tunnel, on the West Side Highway at West 155th St., and on the Cross Bronx Expressway, targeting vehicles heading towards I-87/ Major Deegan Expressway or crossing over the George Washington Bridge into New Jersey. Additional billboards will follow in New York and Northern New Jersey, complemented by taxi top banners, digital and social media ads, and transit posters.

“Governor Murphy has been committed to bringing more businesses to the Garden State, and the NJ RISE program will help incentivize companies to reassign their New Jersey employees back to their home state and increase their business activity in the state,” said NJEDA Chief Executive Officer Tim Sullivan. “In addition to saving time and money for commuters, NJ RISE will bolster the state’s tax revenue, increase economic activity, and grow a stronger and fairer economy for New Jersey’s commuters and families.”

NJ RISE’s goal is to increase New Jersey’s Gross Income Tax Withholdings by encouraging eligible businesses to re-assign their out of state New Jersey resident employees to New Jersey by issuing an incentive based upon on the employees’ withholdings. NJ RISE is a $20 million pilot program that will provide grants to businesses principally located out of state that re-assign New Jersey residents currently assigned to work in a state that employs the “convenience of employer” income taxation rule to work in a New Jersey location. The grant is equal to the amount of New Jersey Gross Income Tax withholdings of the re-assigned resident employees during one tax year of the business, not to exceed $500,000 in the aggregate per business.

To learn more and apply, click here.