Job Tax Credits

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Tricia DePadro

Provides for a statewide job tax credit for any business or headquarters of any such business engaged in manufacturing, warehousing and distribution, processing, telecommunications, tourism, or research and development industries, but does not include retail businesses. If other requirements are met, job tax credits are available to businesses of any nature, including retail businesses, in counties recognized and designated as the 40 least developed counties.

Counties and certain census tracts in the state are ranked and placed in economic tiers using the following factors:

1. highest unemployment rate;
2. lowest per capita income; and 
3. highest percentage of residents whose incomes are below the poverty level.

To determine the designation area for an address location, go to the Interactive Map of Potential Opportunity Zone areas for 2019, including designated LDCT and Military Zones. Click on the layers for the LDCT and Military Zones to have these layers shown on the map.

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Announcements

  • In light of the COVID-19 crisis, the Department of Community Affairs (DCA) has extended the Notice of Intent deadline from March 31, 2020, to April 30, 2020.  The Notice of Intent (NOI) is provided to assist businesses which plan for growth and expansion of its labor force.  A Notice of Intent may be filed with the Commissioner of Community Affairs to preserve the benefits associated with the tier status, military zone designation, or less developed census tract designation in an area that has been reclassified.  DCA will re-evaluate any need to make additional changes to the extended deadline as the date approaches.  In the meantime, businesses do not need to file any additional forms or call DCA to qualify for this extension.  We encourage businesses to file as soon as possible and welcome early submissions.