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Department of State

Business Assistance Programs

The Hon. Tahesha Way, Secretary

Large Business Assistance Program

Hazardous Discharge Site Remediation Fund

Businesses operating in New Jersey, individuals, or municipalities that are required to, or volunteered to, perform remediation and/or cleanup of contaminated and underutilized sites may be eligible to secure financing through loans and/or grants under the Hazardous Discharge Site Remediation Fund (HDSRF).

The HDSRF is administered through a partnership between the New Jersey Department of Environmental Protection (DEP) and the EDA. The DEP evaluates an applicant’s preliminary eligibility requirements, the technical merits of the proposed project, and the estimated project costs. Upon DEP approval, the EDA evaluates an applicant’s financial status, determines grant and/or loan eligibility, and awards funding.

Eligibility Criteria:

  • Businesses required to perform remediation activities due to closure of operations, transfer of ownership/operations, and do not have funding source.
  • Municipalities and persons who voluntarily undertake remediation.
  • Municipalities, if they:
    • Own or hold a tax sale certificate on the property.
    • Have a comprehensive plan or realistic opportunity for property to be re/developed within a three-year period.
  • Individuals or businesses who have discharged hazardous substance or are responsible for such substance and do not have funding source.
  • Individuals or businesses must have a net worth less than $2 million.
  • Individuals or businesses who acquired the project site prior to 12/31/83 where there has been a discharge of a hazardous discharge that was not used by the person who acquired the site, or any person with permission from the applicant to use the site.

Fees apply and are non-refundable.

Division of Taxation Tax Clearance Certificate required. Certificates may be requested through the State of New Jersey’s Premier Business Services (PBS) portal online.

  • Under the Tax & Revenue Center, select Tax Services, then select Business Incentive Tax Clearance.
  • If the applicant’s account is in compliance with its tax obligations and no liabilities exist, the Business Incentive Tax Clearance can be printed directly through PBS.

Please note: It is the applicant/client’s responsibility to maintain a current and clear tax clearance certificate. If a current and clear certificate is not evidenced to EDA at time of closing, EDA will not proceed with closing.

* The interest rate for loans is the Federal Discount Rate at approval or closing, whichever is lower, with a minimum of 5%.
** Municipal loans have an interest rate of 2 points below the Federal Discount Rate with floor of 3%.

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