FOR IMMEDIATE RELEASE: Friday, March 13, 2015

Christie Administration Awards Neighborhood Revitalization Tax Credit Grants in Union County

Grants Totaling $182,500 Enables Nonprofits to Perform Activities to Benefit Neighborhood Residents

ELIZABETH, NJ – New Jersey Department of Community Affairs (DCA) Commissioner Richard E. Constable, III today announced $182,500 in grant awards through the Neighborhood Revitalization Tax Credit (NRTC) program to Elizabeth Development Company located in Elizabeth. Since the creation of the NRTC program, 31 corporations have contributed $78,081,000 to fund 29 neighborhood revitalization plans in 15 urban municipalities throughout the state.

"The Christie Administration continues to support the NRTC program which encourages new housing options and economic development opportunities for small businesses in New Jersey’s urban neighborhoods," said Commissioner Constable. "This program continues to have positive impacts in New Jersey and has allowed the state to work with local organizations to foster revitalization in communities throughout Union County. We will continue to invest in innovative programs such as this that will support New Jersey’s working families, seniors, and children."

Elizabeth Development Company was awarded $182,500 for activities associated with its On-The-Job Training Program. NRTC funds will enable Elizabeth Development Company to recruit employers who will provide commitments to employ program participants. Additionally, unemployed residents, from both the Elizabethport and Midtown neighborhoods, will participate in a 4-part pre-employment training series, designed to prepare them for obtaining employment. Participants will also receive supportive services. The program would make expungement assistance available to improve employment prospects, as needed.

Other communities that have benefited from the NRTC program this year include Salem City, Paterson, Asbury Park, Perth Amboy, Camden, Trenton, Newark, Orange and New Brunswick.

Funds for Elizabeth Development Company were contributed by JPMorgan Chase and NJ American Water.  Elizabeth Development Company has had an approved NRTC plan since 2005, for the Elizabethport neighborhood of Elizabeth.

Companies that fund the program receive a 100 percent tax credit against various state taxes for their investments in revitalizing low-and moderate-income neighborhoods in eligible cities.

Elizabeth Development Company was founded in 1977 to serve Elizabeth’s economic development needs. Since its inception, the EDC has helped generate more than $2 billion in new economic investments in Elizabeth that have helped put thousands of area residents to work. Additional information on EDC can be found at

The NRTC program is administered by the Division of Housing and Community Resources and provides community based nonprofit groups with corporate funding for implementing neighborhood revitalization plans.  The nonprofit organizations agree to allot at least 60 percent of the funds to housing and/or economic development activities.  The remainder may be used for complementary activities such as supportive services, improvements to streetscape and public open space, and community outreach activities.  NRTC has approved 96 grants to date to implement these neighborhood plans totaling $77 million in funding.

More information on the Neighborhood Revitalization Tax Credit program, visit

Tammori Petty
(609) 292-6055