2022 Incentives Issuance Report
The following is a summary of NJEDA activity related to the actual issuance of tax credits or
cash reimbursements, as applicable, for the following incentives programs administer by
the Authority:
• Business Employment Incentive Program (BEIP)
• Business Retention and Relocation Assistance Grant (BRRAG) Program
• Grow NJ Program (EOA and Legacy)
• Film Tax Credit Program
• Economic Redevelopment and Growth (ERG) Program (Commercial and Residential)
• Urban Transit Hub Tax Credit Program
Exhibit A – Summary of Incentives Issuances in CY 2021 (By Program)
Program Tax Credit Issuance Cash Reimbursement
Issuance
Total Issuance
BEIP $93,581,929 -- $93,581,929
BRRAG $0 -- $0
Commercial ERG -- $5,620,884 $5,620,884
Film Tax Credit $45,999,018 -- $45,999,018
Residential ERG $60,680,906 -- $60,680,906
Grow NJ (EOA) $250,243,847 -- $250,243,847
Grow NJ (Legacy) $29,781,505 -- $29,781,505
Urban Transit Hub $98,741,283 -- $98,741,283
TOTAL $579,028,487 $5,620,884 $584,649,371
* This total reflects adjustments as a result of previously reported BEIP issuances in CYs 2018 and 2020 that have
since been surrendered:
Please see Exhibit D – Summary of Incentives Issuance (by Project) for a detailed listing of
projects that received the issuances reported above.
Exhibit B – Projects Certified by NJEDA and Division of Taxation
(Grow NJ – EOA and Legacy, ERG – Commercial and Residential, and Urban Transit Hub)
In CY2022, EDA and Taxation certified 13 new projects under the Grow NJ and ERG Programs.
Of this 13, 8 were Grow NJ (EOA) projects, 3 were Grow NJ (Legacy) projects, 1 were
commercial ERG projects, 1 was a residential ERG projects, and 0 were Urban Transit Hub Tax
Credit Projects.
The chart below illustrates new certifications (by EDA and Taxation) annually, from CY2015 –
CY2022:
Exhibit C – Estimated Total Incentives Issuance
(Grow NJ – EOA and Legacy, ERG – Commercial and Residential, and Urban Transit Hub)
As of 9/11/2023, NJEDA has issued approximately $2,245,066,535 in tax credits or cash
reimbursements to 241 projects.
A full listing of projects that are certified, completed and
0
10
20
30
40
50
60
2015 2016 2017 2018 2019 2020 2021 2022
New Certifications (by Calendar Year of Certification)
Grow EOA Grow Legacy Comm ERG Res ERG HUB
received a tax credit or cash reimbursement issuance has been appended, and can be found on
the NJEDA website at https://www.njeda.com/certified-and-completed/. This report also
shows for each project that has certified, a year over year record of each project’s performance,
including job creation and/or retention and capital investment the NJEDA has certified that
these projects have made.
Below is a summary of estimated cumulative total incentives issuance from CY2015 – CY2022 to
date:
$0
$500,000,000
$1,000,000,000
$1,500,000,000
$2,000,000,000
$2,500,000,000
2015 2016 2017 2018 2019 2020 2021 2022 2023 to
date
Total Incentives Issuance
Grow NJ, ERG and Urban Transit Hub
Cumulative by Calendar Year of Certification
Exhibit D - Sumary of Incentives Issuance - CY 2022
Issuance by Program
Company Municipality County Issuance Amount
AJM Packaging Corporation Vineland City Cumberland $247,832
Amdocs, Inc. Jersey City Hudson County $80,400
Ansell Healthcare Products, LLC Colonia Middlesex $430,026
Arch Insurance Group Inc. Jersey City Hudson County $3,239,995
Avis Budget Car Rental, LLC Parsippany-troy Hills Morris $562,285
Barclays Capital Services, Inc. Hanover Morris $1,810,134
Barnes & Noble College Booksellers, LLC Bernards Somerset County $995,760
Bayer HealthCare Pharmaceuticals, Inc. Montville Morris County $111,026
Bayer HealthCare Pharmaceuticals, Inc. Wayne Passaic County $1,069,828
Bayer HealthCare Pharmaceuticals, Inc.
Montville Morris County $1,318,326
Bayer HealthCare Pharmaceuticals, Inc.
East Hanover Morris County $2,425,992
BJ's Wholesale Club, Inc. Burlington City Burlington $2,414
Bracco Diagnostics Inc. Monroe Middlesex $119,081
Catalent Pharma Solutions, LLC Franklin Somerset County $80,111
Citco Fund Services (USA), Inc.
Jersey City Hudson County $2,755,490
Citigroup Global Markets, Inc. and Citibank, N.A. Warren Somerset County $759,692
City Theatrical, Inc. Carlstadt Borough Bergen County $93,842
Comcast Business Communications, LLC et. al.
Moorestown Burlington County $77,791
Comcast of New Jersey II, LLC Voorhees Camden $6,437
CVS Pharmacy, Inc. and CVS Caremark Florham Park Borough Morris County $1,481,388
Daiichi Sankyo, Inc. Madison Borough Morris $1,816,286
Dealerweb/Hilliard Farber & Company, Inc
Jersey City Hudson County $1,104,384
Depository Trust & Clearing Corp. & affiliates Jersey City Hudson County $12,666,590
Dow Jones & Company, Inc. Monmouth Junction Middlesex County $472,210
Dr. Reddy's Laboratories Bridgewater Somerset County $904,198
Echosphere LLC/DISH Montville Morris $241,132
Euromarket Designs, Inc. d/b/a Crate & Barrel
Cranbury Mercer County $50,116
Ferring Pharmaceuticals, Inc. Parsippany-troy Hills Morris County $1,229,857
Firmenich Incorporated Plainsboro Middlesex County $219,895
First Brokers Holdings Inc. Jersey City Hudson County $1,096,776
Harris Tecnologies, Inc./Harris Corp/Exelis, Inc. Clifton City Passaic $774,516
ICAP North America Inc. Jersey City Hudson County $8,697,122
ImClone Systems Corporation Branchburg Somerset County $26,083
ImClone Systems Corporation Branchburg Somerset County $288,863
Infragistics, Inc. Cranbury Mercer County $153,750
IPC Systems, Inc. & IPC Networks Services, Inc. Jersey City Hudson County $719,989
IPC Systems, Inc. & IPC Networks Services, Inc. Berkeley Heights Union County $660,386
John Wiley & Sons, Inc. Hoboken City Hudson $1,830,740
JPMorgan Chase Bank Jersey City Hudson County $600,199
L.V. Adhesive, Inc. Carlstadt Borough Bergen County $19,218
McLane New Jersey, Inc./McLane Company, Inc. Carneys Point Salem County $246,470
McLean Packaging Corporation and MJF Realty Group, Moorestown Burlington County $107,954
Medical Diagnostic Laboratories, LLC Hamilton Mercer County $201,910
Medidata Solutions, Inc. Woodbridge Middlesex $936,608
Mizuho Bank, Limited Jersey City Hudson County $379,260
MLB Network, LLC, The Secaucus Town Hudson County $5,672,884
National Financial Services, LLC Jersey City Hudson County $352,898
National Financial Services, LLC Jersey City Hudson County $2,101,790
Novel Laboratories, Inc Franklin Somerset County $2,700,738
Oracle Financial Services Software, Inc. Edison Middlesex County $456,759
Otsuka America Pharmaceutical, Inc. & Otsuka Princeton Junction Mercer County $1,639,845
Pegasystems Inc/Antenna Software,LLC Jersey City Hudson County $166,470
Product Safety Labs, Inc. Dayton Middlesex County $87,900
PVH Corp. Bridgewater Somerset County $320,532
PVH Corp. Bridgewater Somerset County $654,572
Rose Brand Wipers, Inc. Secaucus Town Hudson $841,066
Sanofi-Aventis U.S. LLC and Sanofi-Aventis U.S. In Bridgewater Somerset County $4,747,886
Sanofi-Aventis U.S. LLC and Sanofi-Aventis U.S.
Bridgewater Somerset County $32,822
Scivantage, Inc. Jersey City Hudson County $489,738
SG Americas Operational Services Inc. / SG America Jersey City Hudson County $4,296,320
Solidia Technologies Piscataway Middlesex County $231,660
Standard Chartered Bank Newark City Essex County $3,894,655
Standard Chartered Bank Newark City Essex County $255,072
Star Soap/Star Candle/Prayer Candle Co., LLC Ridgefield Park Bergen $114,551
Sumitomo Mitsui Trust Bank (U.S.A.) Limited Jersey City Hudson County $216,490
TD Bank, National Association Mount Laurel Burlington County $1,009,818
The Northern Trust Company Jersey City Hudson County $221,319
Thomas Colace Company, LLC, The and West Deptford Gloucester County $718,427
TI Parsippany Inc. and TI Shared Services Inc. Parsippany-troy Hills Morris $621,961
TradeWeb Markets LLC & TradeWeb Holdings, LLC Jersey City Hudson County $557,361
Tribeca Oven, Inc. Carlstadt Borough Bergen $139,169
Unimac Graphics, Inc. Carlstadt Borough Bergen County $745,901
United HealthCare Services, Inc. Bernards Somerset $128,134
Vonage Holdings Corporation Holmdel Monmouth County $4,733,046
Woolco Foods, Inc. Jersey City Hudson County $140,477
Zoetis Inc. and Subsidiaries Florham Park Borough Morris County $2,179,306
$93,581,929
Total CY2022 BEIP Issuance
Business Employment Incentive Program (BEIP)
Business Retention and Relocation Assistance Grant (BRRAG)
No BRRAG issuance to report in CY 2022.
Page 1 of 4
Exhibit D - Sumary of Incentives Issuance - CY 2022
Issuance by Program
Company Municipality County Issuance Amount
Camden Hotel Partners,LLC Camden City Camden County 1,067,679$
DVL,Inc. Kearny Town Hudson County 1,445,705$
East Grand Assoc. Urban Renewal Entity, LLC Elizabeth City Union County 306,841$
Harrah's Atlantic City Holding, Inc. Atlantic City Atlantic County 224,411$
Harrison Hotel 1 Urban Renewal, L.L.C. Harrison Town Hudson County 518,615$
Jersey Garden Lodging Assoc. LLP Elizabeth City Union County 342,100$
MSST Fidelco Properties LLC Newark City Essex County 262,214$
Mt. Laurel Development, LLC Mount Laurel Burlington County 445,897$
Saker Shoprites Inc. Somerville Borough Somerset County 336,089$
TDAF I Pru Hotel Urban Renewal Company, LLC
Newark City Essex County 179,949$
TDAF I Springfield Avenue Holding Urban Renewal
Newark City Essex County 325,952$
Tropicana Atlantic City Corp. Atlantic City Atlantic County 165,432$
$5,620,884
Company Municipality County Issuance Amount
ABC Signature NJ, LLC Formerly Touchstone Television
Productions LLC
Kearny Town Hudson County 2,420,661$
ABC Signature NJ, LLC Formerly Touchstone Television
Productions LLC
Secaucus Town Hudson 14,037,579$
Black Friday The Film, Inc Parsippany-troy Hills Morris 733,430$
Bruised Film Holdings, Inc
Newark City Essex 2,143,746$
C7 Production Inc. Paterson City Passaic 5,173,771$
Dickinson 1, LLC Jersey City Hudson 885,624$
Redo Askew LLC Leonardo Monmouth 2,272,857$
Stikini Films LLC Jersey City Hudson 323,911$
Survivalist The Film, Inc.
Ringoes Hunterdon 603,974$
Universal Television LLC Rutherford Borough Bergen County 15,620,090$
WB Studio Enterprises Inc. Newark City Essex County 1,783,375$
45,999,018$
Company Municipality County Issuance Amount
609 HoldCo, LLC Newark City Essex County 4,000,000$
7 Long Street Doddtown, LLC East Orange City Essex County 335,485$
ACTH Partners, LP Atlantic City Atlantic County 659,108$
Beachway Urban Renewal Associates, L.P. Keansburg Borough Monmouth County 1,702,297$
Branch Village 1, LLC Camden City Camden County 502,859$
Broadway Assoc. 2010 LLC Camden City Camden County 1,349,166$
Broadway Housing Partners LLC Camden City Camden County 611,989$
Building 101 Urban Renewal LLC Trenton City Mercer County 1,618,580$
Carrino Plaza Apartments, LLC Newark City Essex County 525,352$
Carver Hall Atlantic City Atlantic County 1,352,411$
Chambers Crescent LLC Lakewood Ocean County 403,743$
CP Residential GSGZ, LLC Camden City Camden County 1,747,571$
Cultural Center Redev. Assoc. Urban Renewal LLC New Brunswick City Middlesex County 4,000,000$
DownTown Works Urban Renewal Housing Co. LLC Camden City Camden County 270,627$
Garden Spires Urban Renewal LP Newark City Essex County 3,367,673$
Glassboro A-3 Urban Renewal LLC Trenton City Mercer County 3,012,887$
Glassboro A-4 Urban Renewal LLC Glassboro Borough Gloucester County 2,084,660$
Glassboro Mixed-Use Urban Renewal, LLC Glassboro Borough Gloucester County 2,204,581$
GS FC Jersey City Pep 1, LLC Jersey City Hudson County 3,718,882$
Island Campus Redevelopment Assoc. LLC Atlantic City Atlantic County 3,842,301$
Island Campus Redevelopment Assoc. LLC Atlantic City Atlantic County 2,992,536$
KRE Hamilton Urban Renewal LLC Jersey City Hudson County 4,000,000$
Lincoln Towers Urban Renewal LP Newark City Essex County 1,150,000$
New Horizons Phase I Urban Renewal Associates, LP Newark City Essex County 850,003$
North 25 Urban Renewal Preservation, LP
Trenton City Mercer County 852,615$
PRC Campus Centers, LLC Ewing Mercer County 1,576,770$
Prospect Park Apartments Urban Renewal LLC East Orange City Essex County 797,706$
Riverside Arms Urban Renewal LLP Newark City Essex County 860,417$
Roseville Avenue Redevelopment Urban Renewal LLC Jersey City Hudson County 1,006,518$
Rutgers, The State University of New Jersey Piscataway Middlesex County 2,500,000$
South Inlet Partners Urban Renewal LLC Atlantic City Atlantic County 2,443,356$
Spruce Spires Urban Renewal, L.P. Newark City Essex County 914,118$
Trent West Senior Apartments Urban Renewal Limited Trenton City Mercer County 474,022$
Trent West Senior Apartments Urban Renewal Limited Trenton City Mercer County 638,426$
Washington Street University Housing Assoc., LLC Newark City Essex County 2,314,247$
60,680,906$
Company Municipality County Issuance Amount Annual Net Benefit
Net Benefit at
Approval
Accurate Box Co. Inc Paterson City Passaic County 3,842,500$ 115,253,242$ 69,419,517$
ACME Cosmetic Components, LLC Secaucus Town Hudson County 285,000$ 6,332,233$ 11,736,972$
Advisor Group, Inc. Jersey City Hudson County 450,000$ 15,005,177$ 12,790,824$
Allied Specialty Foods, Inc. Vineland City Cumberland County 1,334,500$ 50,757,896$ 35,339,239$
American Water Works Company, Inc. Camden City Camden County 16,135,050$ 236,226,990$ 130,637,896$
AP&G Co, Inc Bayonne City Hudson County 1,072,500$ 26,563,346$ 27,587,066$
AP&G Co, Inc Bayonne City Hudson County 1,087,500$ 33,552,143$ 27,587,
066$
Artech Information Systems L.L.C. Morris Morris County 203,000$ 51,136,930$ 57,035,568$
Audible, Inc. Newark City Essex County 3,937,500$ 113,706,871$ 103,436,021$
Barry-Callebaut USA LLC Pennsauken Township Camden County 231,000$ 11,287,908$ 10,132,329$
Total CY2022 Commercial ERG Issuance
Economic Redevelopment and Growth Program (ERG) - Commercial Projects
Film Tax Credit
Total CY2022 Film Tax Credit Issuance
Economic Redevelopment and Growth Program (ERG) - Residential Projects
Total CY2022 Residential ERG Issuance
Grow NJ EOA
Page 2 of 4
Exhibit D - Sumary of Incentives Issuance - CY 2022
Issuance by Program
BAYADA Home Health Care Pennsauken Township Camden County 1,322,362$ 42,675,814$ 86,146,127$
Biogenesis, Inc Paterson City Passaic County 1,141,000$ 22,269,786$
8,995,394$
BROWN BROTHERS HARRIMAN & CO., L.P. Jersey City Hudson County 2,673,660$ 205,727,877$
193,001,824$
C2 Imaging LLC Jersey City Hudson County 819,000$ 24,930,142$
11,601,683$
Chelten House Products, Inc. Logan Gloucester County 2,288,000$ 80,927,850$
142,962,718$
Conner Strong & Buckelew Companies, LLC Camden City Camden County 8,623,552$ 123,123,909$
40,551,543$
Conopco, Inc. Englewood Cliffs Borough Bergen County 3,258,500$ 720,587,161$
854,496,146$
Eastern Pro Pak L.L.C. Glassboro Borough Gloucester County 347,500$ 7,884,819$
9,056,260$
E-Retail Manager, Inc. North Bergen Hudson County 140,000$ 3,291,116$ 5,259,257$
Fabuwood Cabinetry Corp. Newark City Essex County 3,906,000$ 26,296,966$
44,151,564$
Flight Centre Travel Group (USA) Inc Montvale Borough Bergen County 605,500$ 93,887,449$ 80,423,348$
Forbes Media LLC Jersey City Hudson County 2,472,250$ 117,261,812$ 72,000,000$
GBT US LLC
Jersey City Hudson County 837,000$ 46,502,653$ 64,673,557$
GoEMerchant, LLC
Camden City Camden County 234,063$ 34,025$ 294$
Gourmet Nut Perth Amboy City Middlesex County 1,001,000$ 12,004,070$
9,775,770$
Grocery Delivery E-Services USA Inc. Newark City Essex County 3,589,992$ 25,875,202$ 4,154,882$
Holtec International Camden City Camden County 26,000,000$ 1,269,847$
155,520$
Holtec International
Camden City Camden County 25,802,532$ 5,108,060$ 155,520$
iCIMS Inc Holmdel Monmouth County 2,244,000$ 188,118,988$ 170,709,719$
Independent Chemical Corp. Paterson City Passaic County 266,000$ 3,388,866$ 2,851,174$
Infinite Herbs LLC
Vineland City Cumberland County 555,000$ 2,989,299$ 1,398,698$
Insight Catastrophe Group, LLC Jersey City Hudson County 208,000$ 10,733,145$ 8,856,946$
Insurance Services Offices, Inc. Jersey City Hudson County 1,720,000$ 225,474,031$
90,598,046$
IPAK, Inc. Camden City Camden County 1,410,000$ 4,339,958$ 5,748,729$
J. & K. Ingredients LLC
Paterson City Passaic County 1,148,000$ 46,238,288$ 35,310,341$
Jaguar Land Rover North America, LLC Mahwah Bergen County 2,070,750$ 120,013,316$ 110,959,611$
Jimmy's Cookies, LLC Clifton City Passaic County 753,750$ 36,558,520$ 39,492,187$
Just Greens LLC Newark City Essex County 655,500$ 3,891,739$ 2,028,966$
Konica Minolta Business Solutions U.S.A., Inc. Ramsey Borough Bergen County 1,885,500$ 71,812,107$ 65,426,544$
Kuehne + Nagel, Inc
Jersey City Hudson County 1,194,250$ 47,158,906$ 63,998,572$
Kuehne + Nagel, Inc Jersey City Hudson County 1,036,000$ 51,417,587$
63,998,572$
LBU Inc. Paterson City Passaic County 686,000$ 20,282,387$ 7,406,479$
Liscio's Italian Bakery, Inc. Glassboro Borough Gloucester County 1,011,500$ 82,145,113$ 24,780,536$
Lockheed Martin Corp. and Affiliates Camden City Camden County 10,700,000$ 9,856,918$ 248,797$
Lockheed Martin Corp. and Affiliates Camden City Camden County 10,700,000$ 9,856,918$ 248,797$
Lockheed Martin Corp. and Affiliates Camden City Camden County 10,700,000$ 9,856,918$ 248,797$
Mamiye Brothers Inc. Iselin Middlesex County 222,000$ 6,837,880$ 3,311,928$
Mamiye Brothers Inc. Iselin Middlesex County 252,000$ 17,329,905$ 3,311,928$
Master Metal Polishing Corp. Paterson City Passaic County 910,000$ 13,145,161$ 16,041,384$
Material Handling Supply, Inc. Pennsauken Township Camden County 185,250$ 20,293,430$ 13,430,041$
Medidata Solutions, Inc. Woodbridge Middlesex County 513,000$ 96,778,148$ 52,863,169$
New Classic Cooking LLC Avenel Middlesex County 825,000$ 21,126,636$ 20,262,628$
New Classic Cooking LLC Avenel Middlesex County 825,000$ 18,171,420$ 20,262,628$
Newell Brands Inc. Hoboken City Hudson County 2,371,250$ 101,674,796$ 65,612,075$
Newell Brands Inc. Hoboken City Hudson County 2,625,000$ 80,894,692$ 65,612,075$
Newell Brands Inc. Hoboken City Hudson County 2,423,750$ 89,065,147$ 65,612,075$
NFI, L.P. Camden City Camden County 7,866,221$ 92,742,154$ 53,233,209$
Nice Systems, Inc. Hoboken City Hudson County 1,836,140$ 214,502,576$ 87,348,778$
Omnicom Group Inc. Jersey City Hudson County 3,792,000$ 89,521,323$ 84,391,160$
Patella Construction Corp Passaic City Passaic County 1,015,000$ 44,754,388$ 35,799,986$
Plastics Consulting and Manufacturing Company, Inc Camden City Camden County 364,000$ 5,115,066$ 3,758,516$
PsychoGenics Inc Paramus Borough Bergen County 260,750$ 21,362,101$ 22,458,560$
Quality Packaging Specialists International, LLC Florence Burlington County 2,032,500$ 36,833,763$ 19,544,676$
RBC Capital Markets Jersey City Hudson County 7,008,750$ 416,885,415$
295,703,584$
Rent the Runway, Inc. Carlstadt Borough Hudson County 1,455,750$ 51,073,074$ 37,790,604$
Resin Tech, Inc. Camden City Camden County 13,881,760$ 15,350,115$ 2,500$
Rubbercycle LLC Lakewood Ocean County 238,500$ 7,547,155$ 6,495,393$
Sandy Alexander, Inc. Clifton City Passaic County 1,043,000$ 124,319,659$ 91,831,525$
Sharp Electronics Corp. Montvale Borough Bergen County 489,375$ 90,191,975$ 116,351,695$
Sharp Electronics Corp. Montvale Borough Bergen County 386,750$ 86,007,829$ 116,351,695$
Showman Fabricators, Inc.
Bayonne City Hudson County 855,000$ 7,549,112$
4,055,798$
Solvay USA West Windsor Mercer County 738,000$ 119,990,310$ 122,853,020$
Subaru of America Camden City Camden County 11,783,287$ 180,043,129$ 167,942,413$
Suez Water Management & Services Inc. Paramus Borough Bergen County 487,500$ 90,705,961$
29,144,010$
Superflex Ltd. Elizabeth City Union County 1,000,000$ 45,282,778$ 16,315,183$
Superflex Ltd. Elizabeth City Union County 1,000,000$ 39,583,466$
16,315,183$
Taiho Oncology Inc Princeton North Mercer County 350,000$ 62,337,395$ 55,008,581$
The Cooper Health System Camden City Camden County 4,764,000$ 138,044,672$ 66,592,404$
The Hibbert Co. Trenton City Mercer County 2,878,750$ 16,197,540$
3,683,450$
The Interpublic Group of Companies, Inc. Jersey City Hudson County 768,000$ 24,088,714$ 22,531,247$
The Michaels Organization, LLC Camden City Camden County 7,555,853$ 63,751,737$ 54,110,278$
United States Cold Storage, Inc. Camden City Camden County 1,134,500$ 43,087,014$ 26,818,507$
US Mobile Phones, Inc. New Brunswick City Middlesex County 1,521,500$ 4,239,355$ 2,312,095$
250,243,847$ 5,760,039,289$ 4,692,639,397$
Company Municipality County Issuance Amount Annual Net Benefit
Net Benefit at
Approval
151 Foods LLC Bellmawr Borough Camden County 1,878,000$ 118,653,903$ 99,000,000$
Deep Foods Inc Union Union County 2,448,000$ 114,054,738$ 118,860,657$
Honeywell International Inc. Morris Plains Borough Morris County 4,000,000$ 292,901,476$ 361,973,263$
Lockheed Martin Corp. and Affiliates Moorestown Burlington County 4,000,000$ 357,600,000$ 266,200,000$
Lockheed Martin Corp. and Affiliates Moorestown Burlington County 4,000,000$ 357,600,000$ 266,200,000$
Lockheed Martin Corp. and Affiliates Moorestown Burlington County 4,000,000$ 331,300,000$ 266,200,000$
Royal Wine Corp. Bayonne City Hudson County 2,289,000$ 171,600,000$ 93,700,000$
Siemens Healthcare Diagnostics Inc. Mount Olive Morris County 3,166,505$ 114,242,940$ 130,101,801$
Total CY2022 Grow NJ EOA
Legacy Grow NJ
Page 3 of 4
Exhibit D - Sumary of Incentives Issuance - CY 2022
Issuance by Program
United Parcel Service, Inc. and/or Subsidiaries Parsippany-troy Hills Morris County 4,000,000$ 503,882,512$ 379,025,034$
29,781,505$ 2,361,835,569$ 1,981,260,755$
Company Municipality County Issuance Amount Annual Net Benefit
Net Benefit at
Approval
36-54 Rector Street LLC Newark City Essex County 2,066,663$
70 Columbus Urban Renewal, LLC Jersey City Hudson County 2,831,758$
Ahold eCommerce Sales Co. LLC Jersey City Hudson County 3,456,135$ 16,004,525$ 28,000,000$
Ahold eCommerce Sales Co. LLC Jersey City Hudson County 3,456,135$ 15,686,
297$ 28,000,000$
Ahold eCommerce Sales Co. LLC Jersey City Hudson County 3,456,135$ 16,851,486$ 28,000,
000$
Boraie Development LLC or Nominee New Brunswick City Middlesex County 2,381,036$
College Avenue Redevelopment Assoc. LLC
New Brunswick City Middlesex County 3,300,000$
GOYA Foods Inc
Jersey City Hudson County 8,035,299$ 53,290,000$ 60,280,000$
Grand LHN I Urban Renewal LLC Jersey City Hudson County 4,201,521$
Harborside Unit A Urban Renewal, L.L.C. Jersey City Hudson County 3,300,000$
Journal Square I Urban Renewal LLC Jersey City Hudson County 3,300,000$
Matrix Upper Lot Urban Renewal, LLC
New Brunswick City Middlesex County 2,842,900$
Panasonic Corp. of North America Newark City Essex County 8,192,645$ 117,100,000$ 222,800,
000$
Pennrose LLC Trenton City Mercer County 1,771,671$
PHMII Associates, LLC
Jersey City Hudson County 1,977,691$
Prudential Financial, Inc. and / or Affiliates Jersey City Hudson County 21,082,836$ 423,850,000$ 250,785,077$
RBH-TRB Newark Holdings, LLC Newark City Essex County 3,945,674$
TDAF I Springfield Avenue Holding Urban Renewal Newark City Essex County 2,383,185$
Transit Village Assoc. LLC
New Brunswick City Middlesex County 7,660,000$
Two Center Street Urban Renewal, L.L.C. Newark City Essex County 3,300,000$
Wakefern Food Corp. Elizabeth City Union County 5,800,000$ 20,970,000$ 68,000,
000$
98,741,283$ 663,752,308$ 685,865,077$
Total CY2022 Legacy Grow NJ
Urban Transit Hub Tax Credit
Total CY2022 Urban Transit Hub Tax Credit
Page 4 of 4
2022 BEIP Annual Report
Business Employment Incentive Program
Project
Status
Number
of
Projects
Total Award
Disbursements
to Date
Tax Credit
Issuance to
Date
Total Capital
Investment
Jobs
Created
to Date
Active
181
$ 967,001,347
$848,282,708
$207,915,032
$5,413,051,924
58,373
Inactive
145
$ 316,808,223
$281,989,210
$4,376,143
$2,495,804,897
24,858
Obligation
Satisfied
123
$ 243,361,534
$377,574,419
$2,632,037
$4,266,786,864
38,011
GRAND
TOTAL
449
$1,527,171,104
$1,507,846,338
$214,923,211
$12,175,643,685
121,242
* On January 11, 2016, P.L. 2015, c. 194 was enacted, permitting the voluntary conversion of BEIP grant commitments
into tax credits.
A complete project list can be found at www.njeda.com/public_information/incentive_activity/beip
2022 BRRAG Annual Report
Business Retention and Relocation Assistance Grant Program
Project Status
Number
of
Projects
Total Award
Tax Credit
Issuance to
Date
Total Capital
Investment
Jobs
Retained to
Date
Certified - Active
2
$41,094,000
$20,547,000
$106,885,000
3,044
Certified - Post
Payment
Compliance
17
$47,331,160
$45,672,910
$293,384,250
5,852
Compliance Period
Complete
48
$24,208,200
$22,220,500
$989,920,089
14,573
Inactive
18
$10,228,950
$227,100
$720,861,000
6,427
GRAND TOTAL
85
$122,862,310
$88,667,510
$2,111,050,339
29,896
A complete project list can be found at https://www.njeda.gov/beip_activity_alphabetical-website/
Program
Description
21CENGR
21st Century Grant
ANGTC
Angel Tax Credit
BRWNFIFGR
Brownfields Impact Fund
CATRDVPGR
Catalyst R&D Voucher
CSITSEED2GR
Clean Tech Seed Grant round 2
CSTCATAGR
Catalyst Seed R&D Grant
CTRDVP2GR
Clean Tech R&D Voucher Round 2
CTRDVPGR
Clean Tech R&D Voucher
CVBUSGR
Commuter & Transit Bus Pandemic Relief
CVSB2GR
Covid business Grant 2
CVSB2LO
Covid Business loan 2
CVSB3GR
Covid Business Grant 3
CVSB4GR
Covid Business Grant 4
CVSSNJGR
Sustain & Serve
GN2TC
Grow NJ Tax Credit
GRMPL1GR
Government Restricted Municipalities
HAZGR
Hazard Discharge Site Remediation
HSMGR
Hazardous Discharge Site Remediation
HTFLO
New Jersey Historic Fund
IDAGR
Ida Business Grant Program
MBL2FL
Forgiveable Micro Business Loan
MBL2LO
Microbusiness loan 2
MBL3LO
Microbusiness loan 3
MLENDERGR
Microlender Grant
NJAIFCGR
NJ Arts & Innovation Festival Grant
NJALO
NJ Accelerate Loan
NJCLO
NJ Covest Fund
NJIGR
NJ Ignite
NJZIPGR
NJ Zip Program
NOLTT
Net Operating Loss Program
SABBO
Stand Alone Bond
SBFLO
Small Business Fund
SBIMPROVGR
Small Business Improvement Grant
SBIRBRGR
CSIT Sbit / STTR Bridge Grant
SBIRMAGR
CSIT SBIT / STTR Matching Grant
SBLEASEGR
Small Business Lease Grant
SLPPL
Statewide Loan Pool
USTGR
Underground Storage Tank
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
White Township
21CENGR White Warren 50,000$ 50,000$
Pemberton Township
21CENGR Pemberton Burlington 50,000$ 50,000$
City of Millville
21CENGR Millville City Cumberland 50,000$ 50,000$
City of Jersey City
21CENGR Jersey City Hudson 50,000$ 50,000$
Atlantic City
21CENGR Atlantic City Atlantic 50,000$ 50,000$
Lei Dong
ANGTC Bordentown City Burlington 87,500$ 87,500$
Vincent Tizzio
ANGTC Holmdel Monmouth 20,000$ -$
Arvind and Leena Jindia
ANGTC
Princeton Borough
Mercer
30,000$ -$
MIBIT Capital Holding Co.
ANGTC Summit City Union 76,300$ -$
Lymo LP
ANGTC Summit City Union 3,200$ -$
Neil Henry Wasserman
ANGTC
Monmouth Junctio
Middlesex
15,200$ -$
Lauren Rosenberg-Moffitt
ANGTC Holmdel Monmouth 10,000$ -$
Thomas S. Glover Securities LLC
ANGTC Summit City Union 5,000$ -$
Milind Thamke
ANGTC Montclair Essex 5,000$ -$
Michael Bosner
ANGTC Summit City Union 2,000$ -$
Kristoffer Ryan Alpas de Lara
ANGTC Summit City Union 8,000$ -$
Jahnvi Gaudani
ANGTC
Princeton Borough
Mercer 20,000$ -$
Timothy Hogue
ANGTC Summit City Union 10,000$ -$
Robert Read Penn
ANGTC Summit City Union 30,000$ -$
Sukhjender S. Goraya
ANGTC
Princeton Borough
Mercer 20,000$ -$
Granite Creek Exempt Trust
ANGTC Summit City Union 120,000$ -$
Mark A. Brodsky Restated 2013 Revocable
Trust
ANGTC Summit City Union 300,000$ -$
Hawthorn II Investment LP
ANGTC Summit City Union 40,000$ -$
Andy Blank Revoc Living Trust UD
12/27/99
ANGTC Summit City Union 500,000$ -$
AAR Associates L.P.
ANGTC Summit City Union 6,420$ -$
Jeffrey Todd Roberts
ANGTC Summit City Union 20,000$ -$
William Geraghty
ANGTC Summit City Union 10,000$ -$
Hawthorne 2014 LLC
ANGTC Summit City Union 40,000$ -$
Alyse Blank
ANGTC Summit City Union 500,000$ -$
Kathleen Blank
ANGTC Summit City Union 500,000$ -$
VI LLC
ANGTC Summit City Union 10,000$ -$
Estate of Kathleen Ann Lenahan McGurrin
ANGTC Summit City Union 10,000$ -$
Jerome Blank 1996 Declaration of Trust
ANGTC Summit City Union 500,000$ -$
Lars Ernest Bader
ANGTC Summit City Union 100,000$ -$
Diane Hepford Lenahan and John R
Lenahan Jr
ANGTC Summit City Union 5,800$ -$
Jeffrey Thomas Hoffman
ANGTC
Location1: Summit
Location1: Union,
5,000$ -$
James Nace
ANGTC Summit City Union 3,119$ -$
James Nace
ANGTC Summit City Union 10,000$ -$
James Nace
ANGTC Summit City Union 10,000$ -$
Michael Wong
ANGTC Summit City Union 7,000$ -$
Richard Ring Feldman
ANGTC Summit City Union 40,000$ -$
Gurpartap S. Sachdeva
ANGTC Princeton Mercer 20,000$ -$
Jan Hengeveld
ANGTC
North Brunswick To
Middlesex 11,000$ -$
Bert Claeys
ANGTC
North Brunswick To
Middlesex 5,000$ -$
George and Rose Bonifacio
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Ram Potti Sudha R Potti
ANGTC
Princeton Borough
Mercer
60,000$ -$
ANDA Investment Fund LLC
ANGTC
Princeton Borough
Mercer 300,000$ -$
Diane C Dodaro-Surrusco & James A.
Surrusco
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Arlene M. & John P. Dodaro
ANGTC
Englewood Cliffs B
Bergen 3,000$ -$
Robert J. Zubaty and Barbara M. Zubaty
ANGTC
Englewood Cliffs B
Bergen 5,000$ -$
Gaetan Moise
ANGTC Montclair Essex 30,000$ -$
William Stewart Cobb
ANGTC Montclair Essex 20,000$ -$
Bryan McShane
ANGTC Wharton Borough Morris 17,500$ -$
Beaver Creek Intermediate Fund LLC
ANGTC
New Providence Bo
Union
179,967$ -$
Cavan M. Redmond
ANGTC
Monmouth Junctio
Middlesex 9,880$ -$
Vijay Venkatesh Kannan
ANGTC Kingston Somerset 6,250$ -$
Realaspire, LLC
ANGTC Kingston Somerset 6,250$ -$
PURNA CR SUNKARA
ANGTC Kingston Somerset 12,500$ -$
Veerag Mehta & Meera Mehta
ANGTC Kingston Somerset 6,250$ -$
RaoFolio LLC
ANGTC Kingston Somerset 32,500$ -$
Saripalli Family Living Trust
ANGTC Kingston Somerset 12,500$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Shankar Ram Mahadevan & Uma Shankar
Ram
ANGTC Kingston Somerset 12,500$ -$
Lakshmiraghavan Srinivasan and
Chandrika Srinivasan
ANGTC Kingston Somerset 6,250$ -$
BHATIA FOLIO LLC
ANGTC Kingston Somerset 12,000$ -$
Srinath Geedipalli
ANGTC Kingston Somerset 6,250$ -$
Wirta Family Trust
ANGTC Manalapan Monmouth 50,000$ -$
Ryan Matthew Lane
ANGTC Morristown Morris 200,016$ -$
Yellow Mintu, LLC
ANGTC Princeton Mercer 7,097$ -$
Paul Maguire
ANGTC Red Bank Borough Monmouth 20,000$ -$
Thomas J. Sanzone Revocable Trust
ANGTC Red Bank Borough Monmouth 200,000$ -$
Richard A Olson & Sara H Olson
ANGTC Montclair Essex 20,000$ -$
Michael Maguire
ANGTC Red Bank Borough Monmouth 20,000$ -$
James Maguire
ANGTC Red Bank Borough Monmouth 20,000$ -$
Doug Andersen
ANGTC Red Bank Monmouth 20,000$ -$
First United Partners
ANGTC Newark City Essex 37,500$ -$
Laurence L Betterley Revocable Trust
ANGTC Montclair Essex 3,000$ -$
Thomas G Miglis Revocable Trust
ANGTC Red Bank Borough Monmouth 200,000$ -$
Simran Bhatia
ANGTC Wall Monmouth 6,000$ -$
Simran Bhatia
ANGTC Wall Monmouth 10,000$ -$
Richard Ruffino
ANGTC Wall Monmouth 10,000$ -$
Mario M. Casabona
ANGTC
Eatontown Boroug
Monmouth
6,250$ -$
Robert Connell
ANGTC Holmdel Monmouth 20,000$ -$
Robert Connell
ANGTC Holmdel Monmouth 120,000$ -$
Robert Connell
ANGTC Holmdel Monmouth 20,000$ -$
C.G. Van Ham Blacquiere
ANGTC
North Brunswick To
Middlesex 7,358$ -$
Christiane Buyle
ANGTC
North Brunswick To
Middlesex 1,950$ -$
Pamela Longo 2015 Trust
ANGTC Wharton Borough Morris 17,428$ -$
Haoming Qu
ANGTC Hillsborough Somerset 20,000$ -$
Ivo Custers
ANGTC
North Brunswick To
Middlesex 2,453$ -$
Mark P. Kelliher
ANGTC Montclair Essex 2,000$ -$
521 Capital LLC
ANGTC
Princeton Borough
Mercer
60,000$ -$
Jurgen Van Berleere
ANGTC
North Brunswick To
Middlesex 2,400$ -$
Filip Maes
ANGTC
North Brunswick To
Middlesex 10,500$ -$
Lauren Rosenberg Moffitt
ANGTC Holmdel Monmouth 50,000$ -$
Bernard Opsomer
ANGTC
North Brunswick To
Middlesex 2,072$ -$
Patrick D`Eer
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Marius Willem Van Dalen
ANGTC
North Brunswick To
Middlesex 2,450$ -$
Peter Tros
ANGTC
North Brunswick To
Middlesex 2,450$ -$
Bert Claeys
ANGTC North Brunswick Middlesex 2,588$ -$
Edwin Smets
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Paul E. Phillips and Sharon P. Sullivan
JTWROS
ANGTC Newark City Essex 10,000$ -$
Libby Heller
ANGTC
North Brunswick To
Middlesex 1,962$ -$
Robert Neyens
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Frank Eduard Volmer
ANGTC
North Brunswick To
Middlesex 2,043$ -$
Franky Vanhulle
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Equity Trust Company Custodian FBO
Leslie A. Halpern 401 K
ANGTC
North Brunswick To
Middlesex 4,905$ -$
Johan Smets
ANGTC
North Brunswick To
Middlesex
2,400$ -$
IRA Services Trust Company CFBO Rush
Howe IRA825573 TAX ID# 26-262
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Willem Theodorus Goedkoop
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Peter Verduyn Lunel
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Vincent Tizzio
ANGTC Holmdel Monmouth 40,000$ -$
Daniel Goossens
ANGTC
North Brunswick To
Middlesex 4,088$ -$
John van der Veen
ANGTC
North Brunswick To
Middlesex 1,088$ -$
Tristar Foundation
ANGTC
North Brunswick To
Middlesex 4,103$ -$
Andrew Siegel
ANGTC Newark City Essex 50,000$ -$
Elise Boekholt
ANGTC
North Brunswick To
Middlesex 1,875$ -$
Ellen van Lierde-Bonte
ANGTC
North Brunswick To
Middlesex 3,273$ -$
Jan van der Wal
ANGTC
North Brunswick To
Middlesex 4,083$ -$
Gudi Spruijt
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Tolfan Ventures LLC
ANGTC
North Brunswick To
Middlesex 16,350$ -$
Anton Verlaan
ANGTC
North Brunswick To
Middlesex 1,635$ -$
Rita Vansteenkiste
ANGTC
North Brunswick To
Middlesex 6,675$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
V.G.B. van Gellicum den Hartog
ANGTC
North Brunswick To
Middlesex 4,125$ -$
Tobias P. van Dormael
ANGTC
North Brunswick To
Middlesex 6,540$ -$
Donna Lee Lista
ANGTC
North Brunswick To
Middlesex 2,453$ -$
Guido Bellings
ANGTC
North Brunswick To
Middlesex 4,083$ -$
Jan A. Dekker
ANGTC
North Brunswick To
Middlesex 8,172$ -$
Pieter Bellekens
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Chr. J. H. Westerhof
ANGTC
North Brunswick To
Middlesex
4,083$ -$
Hawthorn II Investment LP
ANGTC Newark City Essex 18,000$ -$
Ivo Heijster
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Johan Victor Dehem
ANGTC
North Brunswick To
Middlesex 12,263$ -$
Thibault De Rudder
ANGTC
North Brunswick To
Middlesex
4,088$ -$
Sander Willem Van Ginkel
ANGTC
North Brunswick To
Middlesex 8,171$ -$
Etienne van den Berghe
ANGTC
North Brunswick To
Middlesex 12,263$ -$
Frank Bosmans
ANGTC
North Brunswick To
Middlesex 4,500$ -$
Louis Bellekens
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Jan Beelen
ANGTC
North Brunswick To
Middlesex 8,174$ -$
Anne Voshel GRANTOR OF VOSHEL FAMILY
TRUST
ANGTC
North Brunswick To
Middlesex 69,488$ -$
Luc Neyrinck - Carine Franssen
ANGTC
North Brunswick To
Middlesex 2,995$ -$
Sarah Fischell Family Trust
ANGTC
New Providence Bo
Union 1,609$ -$
Sarah Fischell Family Trust
ANGTC
New Providence Bo
Union
1,673$ -$
Alain and Rosemary Roclore
ANGTC
North Brunswick To
Middlesex
8,175$ -$
Daniel Pritchett
ANGTC
North Brunswick To
Middlesex
61,313$ -$
Patrick van den Nest
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Brecht Gielen
ANGTC
North Brunswick To
Middlesex 8,940$ -$
David R Fischell
ANGTC
New Providence Bo
Union 2,317$ -$
Jochen De Schepper
ANGTC
North Brunswick To
Middlesex 4,088$
Steven van den Ham
ANGTC
North Brunswick To
Middlesex 4,088$ -$
DIRK VAN AELST
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Geert Sinnesael
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Jose Manuel de Arriba Escola
ANGTC
North Brunswick To
Middlesex 9,810$ -$
David Ross Fischell
ANGTC
New Providence Bo
Union
2,382$ -$
Thiark Sietzema
ANGTC
North Brunswick To
Middlesex 4,719$ -$
Jan Daneels
ANGTC
North Brunswick To
Middlesex 4,083$ -$
Chris Segers
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Robert W Croce
ANGTC
New Providence Bo
Union 59,989$ -$
Wim Marissen
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Kristin Maenhaut
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Rik Herbots
ANGTC
North Brunswick To
Middlesex 4,905$ -$
Paulus Balthazar De Winter
ANGTC
North Brunswick To
Middlesex
4,085$ -$
Pascal De Vos
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Stefaan Bouillon
ANGTC
North Brunswick To
Middlesex
1,800$ -$
Maarten Almekinders
ANGTC
North Brunswick To
Middlesex 4,088$ -$
Alain Vancleef
ANGTC
North Brunswick To
Middlesex 4,082$ -$
Brian Quantz Streit
ANGTC
Princeton Borough
Mercer 5,000$ -$
Joseph A Ruta
ANGTC
Princeton Borough
Mercer 4,000$ -$
BARBARA CORDES
ANGTC
Englewood Cliffs B
Bergen 5,000$ -$
SEAN T. KEATING
ANGTC
Englewood Cliffs B
Bergen 4,000$ -$
John Archer Dorsey
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Eric Buckman
ANGTC
Eatontown Boroug
Monmouth
2,500$ -$
Alexander Pavliv
ANGTC
Eatontown Boroug
Monmouth 12,500$ -$
Tech Council Ventures II LP
ANGTC
Eatontown Boroug
Monmouth 124,141$ -$
Steadman Capital LLC
ANGTC
North Brunswick To
Middlesex 10,000$ -$
Princeton Biopharma Advisors, LLC
ANGTC
North Brunswick To
Middlesex 209,551$ -$
Mark D Steele Revocable Trust
ANGTC
North Brunswick To
Middlesex 17,678$ -$
Arthur P Levinson Revocable Living Trust
ANGTC
North Brunswick To
Middlesex 14,625$ -$
Bredon, LLC
ANGTC
North Brunswick To
Middlesex 32,000$ -$
IRV55, LLC.
ANGTC Fairfield Essex 100,000$ -$
OMBAASHI OPPORTUNITIES, LLC
ANGTC Fairfield Essex 100,000$ -$
John Seel
ANGTC
Princeton Borough
Mercer 1,000$ -$
Alex Khowaylo
ANGTC Allendale Borough Bergen 37,000$ -$
Allan Lipkowitz TTEE Allan Lipkowitz Rev
Liv Trust
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Patrick Eckels
ANGTC
Englewood Cliffs B
Bergen 10,000$ -$
David S Washburn
ANGTC Allendale Borough Bergen 45,000$ -$
Dushyant Pandit
ANGTC Piscataway Middlesex 2,625$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
George J. Abraham
ANGTC Montclair Essex 2,000$ -$
Croce Family Gift Trust
ANGTC
New Providence Bo
Union 55,033$ -$
Scott Sukenick
ANGTC Jersey City Hudson 2,000$ -$
Philippe Tinmouth
ANGTC Jersey City Hudson 10,000$ -$
Steven Gilman
ANGTC Jersey City Hudson 5,000$ -$
David Angulo Gonzalez
ANGTC Jersey City Hudson 2,000$ -$
Armando Anido
ANGTC Jersey City Hudson 6,250$ -$
Eric Francois
ANGTC Jersey City Hudson 750$ -$
Guy Macdonald
ANGTC Jersey City Hudson 10,000$ -$
Ann Hanham
ANGTC Jersey City Hudson 4,000$ -$
Steve E Goodman
ANGTC Montclair Essex 60,000$ -$
Sharon E. Hensley
ANGTC
Eatontown Boroug
Monmouth 25,000$ -$
William Robert Zimmermann
ANGTC
Princeton Junction
Mercer 30,000$ -$
Haoming Qu
ANGTC Hillsborough Somerset 100,000$ -$
Xiaofei Wang & Yanhua Zhang
ANGTC Hillsborough Somerset 100,000$ -$
Michael J Breen
ANGTC
Monmouth Junctio
Middlesex 30,000$ -$
Shivam Advisors LLC
ANGTC
Eatontown Boroug
Monmouth 6,250$ -$
Louis Ryan Jr
ANGTC Asbury Hunterdon 10,000$ -$
Mathieson Family Trust
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Mary Ann Elliott
ANGTC
Eatontown Boroug
Monmouth 31,250$ -$
James Stephen DuBroff
ANGTC Morristown Morris 9,936$ -$
Andrew Scott Eckstut
ANGTC Morristown Morris 9,936$ -$
Robert W Croce
ANGTC
New Providence Bo
Union
59,989$ -$
Glenn Joseph Eckstut
ANGTC Morristown Morris 9,936$ -$
Nathan Irwin Eckstut
ANGTC Morristown Morris 9,936$ -$
Andrew K. & Elizabeth B. Sands
ANGTC Morristown Morris 36,000$ -$
William Hanlon
ANGTC
Eatontown Boroug
Monmouth 7,500$ -$
TIMOTHY G. LALONDE
ANGTC Hamilton Mercer 75,000$ -$
Imran Chaudhri Living Trust Dated May 19,
2017
ANGTC
Eatontown Boroug
Monmouth 25,000$ -$
Heller Industries Inc
ANGTC
Eatontown Boroug
Monmouth 25,000$ -$
Heller Industries Inc
ANGTC
Eatontown Boroug
Monmouth
12,500$ -$
Harry C. Sangree
ANGTC
Eatontown Boroug
Monmouth 6,250$ -$
Michael E. Sherman
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Harry C. Sangree
ANGTC
Eatontown Boroug
Monmouth 10,000$ -$
Amala Ventures LLC
ANGTC
Eatontown Boroug
Monmouth 6,250$ -$
Thomas Andrew Farrell
ANGTC
Monmouth Junctio
Middlesex 4,000$ -$
Stephen Kaufer
ANGTC
Monmouth Junctio
Middlesex 200,000$ -$
Harvey D. Homan and Cathy Homan as
J/T/R/S
ANGTC
Eatontown Boroug
Monmouth 3,750$ -$
Peter J. Stern 2011 Family Trust
ANGTC
Eatontown Boroug
Monmouth 10,000$ -$
Harvey D. Homan and Cathy Homan as
J/T/R/S
ANGTC
Eatontown Boroug
Monmouth 6,250$ -$
Mark Baum
ANGTC
Eatontown Boroug
Monmouth 6,250$ -$
Joseph Spivack
ANGTC
Eatontown Boroug
Monmouth 2,500$ -$
Alan Wayne Tamarelli
ANGTC Asbury Warren 10,000$ -$
Daniel Keith Elliott
ANGTC
Eatontown Boroug
Monmouth 62,500$ -$
Matthew Hurlock
ANGTC Allendale Borough Bergen 40,000$ -$
Carol DeVito
ANGTC Allendale Borough Bergen 40,000$ -$
Yellow Mintu, LLC
ANGTC
Princeton Borough
Mercer
10,000$ -$
Tushar Chauhan
ANGTC
Pennsauken Towns
Camden 25,000$ -$
H. Edward Wilkin III
ANGTC Holmdel Monmouth 10,000$ -$
Sivarama Nutalapati
ANGTC
Pennsauken Towns
Camden 25,000$ -$
The Susan Gertler 2014 Family Trust
ANGTC Lakewood Ocean 11,385$ -$
Susan Gertler
ANGTC Lakewood Ocean 27,990$ -$
John Hui
ANGTC
Princeton Borough
Mercer 5,000$ -$
The Susan Gertler 2014 Family Trust
ANGTC Lakewood Ocean 11,385$ -$
Susan Gertler
ANGTC Lakewood Ocean 27,990$ -$
ALVA TERRY STAPLES
ANGTC South Brunswick Middlesex 5,000$ -$
Prahlad Patel
ANGTC
Pennsauken Towns
Camden 225,000$ -$
Christian Alexander OMara
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
AMEND & RESTATE TR AGREE ANNE
ROMANOFF ILYINSKY UAD 05/20/92 ANNE
ROMANOFF ILYINSKY TTEE AMD 03/28/14
ANGTC
Monmouth Junctio
Middlesex 40,000$ -$
Robert J. Evans
ANGTC
Bound Brook Borou
Somerset 25,000$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Craig Allen Geers
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Jan Filakovsky
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Gregory Salvato
ANGTC Asbury Warren 20,000$ -$
Bradley Hossack
ANGTC
Bound Brook Borou
Somerset 20,000$ -$
Joseph Merces
ANGTC Asbury Warren 2,000$ -$
The Ravel Family Revocable Tr
ANGTC South Brunswick Middlesex 50,160$ -$
Arnold T. Hagler Separate Property Trust
U/A/D 9/17/97, Arnold T. Hagler, Trustee
ANGTC
Monmouth Junctio
Middlesex 5,670$ -$
The Kingdom Trust Company, Custodian
FBO Geoffrey Williams
ANGTC
Monmouth Junctio
Middlesex 15,000$ -$
Muggio Holding SL
ANGTC Bridgewater Somerset 200,000$ -$
Rohit Khanna
ANGTC
Monmouth Junctio
Middlesex 7,300$ -$
Asier De Felipe Garate
ANGTC
Monmouth Junctio
Middlesex 24,000$ -$
Thomas and Marylyn McLaughlin
ANGTC Wharton Borough Morris 12,500$ -$
Quinton Larry Powell
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Seema H. Nayyar
ANGTC Bridgewater Somerset 50,000$ -$
Avtar S. Parhar
ANGTC Bridgewater Somerset 50,000$ -$
Bradley S. Daniels Roth IRA
ANGTC
Englewood Cliffs B
Bergen 6,000$ -$
Bradley S. Daniels Roth IRA
ANGTC
Englewood Cliffs B
Bergen 10,000$ -$
CymbaX, LLC
ANGTC
Monmouth Junctio
Middlesex
5,000$ -$
PFVI Management, LLC
ANGTC Bridgewater Somerset 20,000$ -$
Paul Francis
ANGTC
Monmouth Junctio
Middlesex
70,000$ -$
Renee K. Herzing Revocable Trust 2018
UAD 2/25/19 Renee K. Herzing TTEE
ANGTC
Monmouth Junctio
Middlesex 49,400$ -$
Renee Herzing 2018 Revocable Trust
ANGTC
Monmouth Junctio
Middlesex 24,320$ -$
Sukhjender S. Goraya
ANGTC Bridgewater Somerset 50,000$ -$
Darren Bozan
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Kevin Nebbia
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Robert Belluscio
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Vasilios Koutsoubis
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Toong Yeuan International Limited
ANGTC
Princeton Borough
Mercer
300,000$ -$
Rick Mace
ANGTC
Monmouth Junctio
Middlesex 15,000$ -$
Anjali Mody
ANGTC Bridgewater Somerset 30,000$ -$
Mark Steinfield
ANGTC
Englewood Cliffs B
Bergen 10,000$ -$
Scott Patrick Jones
ANGTC Newark City Essex 11,250$ -$
Iakes Ezcurdia Garmendia
ANGTC
Monmouth Junctio
Middlesex 20,520$ -$
Stephen Mut
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
THE STEVEN H. ORAM 2012 DESCENDANTS
TRUST
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Raymond Vincent Padron
ANGTC Kearny Town Hudson 50,000$ -$
Beth Dryden
ANGTC
Monmouth Junctio
Middlesex
30,000$ -$
Sasha Prakash and Anil Prakash
ANGTC Bridgewater Somerset 50,000$ -$
New Ventures Funds LLC
ANGTC Bridgewater Somerset 40,000$ -$
Sunita Yeleswarapu
ANGTC Bridgewater Somerset 20,000$ -$
Anthony Nicholas DiFabio
ANGTC Asbury Warren 5,000$ -$
David R Zurheide IRA Account
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Hazem Ibrahim
ANGTC
Englewood Cliffs B
Bergen 20,000$ -$
Augustine Francis Xavier Kane
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Augustine Francis Xavier Kane
ANGTC
Englewood Cliffs B
Bergen
45,000$ -$
Alan M. Pollack
ANGTC Bridgewater Somerset 60,000$ -$
Neena Will
ANGTC Bridgewater Somerset 20,000$ -$
Albert V. Will and Johanna M. Will Living
Trust
ANGTC
Fair Haven Boroug
Monmouth 20,000$ -$
DANA Partnership LLP
ANGTC Bridgewater Somerset 120,000$ -$
Rodion Cantacuzene Jr.
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Dennis Shasha
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Rajesh Puri
ANGTC Piscataway Middlesex 5,250$ -$
Arvind and Leena Jindia
ANGTC Bridgewater Somerset 20,000$ -$
Padma Tangirala
ANGTC Piscataway Middlesex 5,250$ -$
Mario M. Casabona
ANGTC Asbury Warren 10,000$ -$
David Theodore Wahl
ANGTC Asbury Hunterdon 10,000$ -$
Alan Wayne Tamarelli
ANGTC Lakewood Ocean 56,250$ -$
Rasesh H. Shah Irrevocable Trust UAD 12-
10-12 Shilpa R. Shah TTEE
ANGTC
Monmouth Junctio
Middlesex 40,000$ -$
Kalyani Venkataramani
ANGTC Piscataway Middlesex 6,000$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Saki Dodelson 2014 Remainder Trust
ANGTC Lakewood Ocean 230,625$ -$
Saki Dodelson 2014 Remainder Trust
ANGTC Lakewood Ocean 230,625$ -$
GHO Ventures
ANGTC Lakewood Ocean 337,500$ -$
Lisa Lyman Thebault
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Philip Thebault
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Robin J. Steele Trust
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Navdeep Sandhu
ANGTC Bridgewater Somerset 50,000$ -$
Raunaq Malhotra
ANGTC
Princeton Junction
Mercer
4,000$ -$
Affinity Healthcare Special SG, L.P.
ANGTC Hillsborough Somerset 400,000$ -$
Michael D. Miller
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Rajeev Panakanti
ANGTC Piscataway Middlesex 4,200$ -$
James Courter
ANGTC Holmdel Monmouth 10,000$ -$
Kevin M. Kilcullen
ANGTC Holmdel Monmouth 50,000$ -$
Anthony Portannese
ANGTC Holmdel Monmouth 10,000$ -$
Kittler Living Trust
ANGTC Asbury Warren 20,000$ -$
Moshe Wolff Judy Jozefovic JT Ten
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Kevin Joseph Johnson
ANGTC Clinton Hunterdon 5,000$ -$
Hawthorn II Investment LP
ANGTC Newark City Essex 13,750$ -$
Gregory J Salvato
ANGTC Clinton Hunterdon 20,000$ -$
Louis Ryan Jr.
ANGTC Clinton Hunterdon 40,000$ -$
Stephen B. Connor
ANGTC South Brunswick Middlesex 5,000$ -$
Branon Living Trust, DTD October 15, 1987
ANGTC Clinton Hunterdon 5,000$ -$
The Holland Family 2004 Trust
ANGTC Asbury Warren 10,000$ -$
Robert A. and Harriet Druskin
ANGTC Holmdel Monmouth 40,000$ -$
James R and Amita Hollingshead
Revocable Trust U/A/D 05/30/08
ANGTC
Monmouth Junctio
Middlesex 8,000$ -$
Evan Michael Schwartz
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Balkir Zihnali
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
David Ross Fischell
ANGTC
Eatontown Boroug
Monmouth 10,000$ -$
Bradley L Beach and Kathryn A Beach
ANGTC Belmar Borough Monmouth 10,000$ -$
Dontese Nicholson
ANGTC
Monmouth Junctio
Middlesex
15,000$ -$
Kamran Moghtaderi
ANGTC
Monmouth Junctio
Middlesex 50,000$ -$
Alan Wayne Tamarelli
ANGTC Asbury Warren 10,000$ -$
Peter Kestenbaum
ANGTC Asbury Warren 3,000$ -$
Roger Biscay
ANGTC Asbury Warren 15,000$ -$
Diego S. Giurleo
ANGTC Asbury Warren 15,000$ -$
Shivam Advisors LLC
ANGTC Asbury Warren 10,000$ -$
Mark Leslie Baum
ANGTC Asbury Warren 5,000$ -$
Ethan Kassel
ANGTC Franklin Warren 15,000$ -$
Thomas J. Langella
ANGTC Asbury Warren 10,000$ -$
Steven Y. Raz
ANGTC Asbury Hunterdon 20,000$ -$
Ron Rosenstraus
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
3487938 Canada Inc.
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Rade B Vukmir
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Kenneth Alan Somberg
ANGTC Bridgewater Somerset 20,000$ -$
W&G Consulting LLC
ANGTC Bridgewater Somerset 125,000$ -$
Sagri V. Acharya
ANGTC Bridgewater Somerset 50,000$ -$
Puri Family Charitable Lead Trust
ANGTC Bridgewater Somerset 100,000$ -$
Puri Family LLC
ANGTC Bridgewater Somerset 300,000$ -$
David and Tripti Burt
ANGTC Bridgewater Somerset 60,000$ -$
George Zorich
ANGTC Bridgewater Somerset 100,000$ -$
Marshall H. Woodworth
ANGTC Bridgewater Somerset 20,000$ -$
The Wendy Lou Yarno Revocable Trust
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Michael Cho
ANGTC Hillsborough Somerset 5,000$ -$
George I. Stoeckert
ANGTC
Monmouth Junctio
Middlesex 30,000$ -$
Brian Thebault
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Robert Gray Edmiston Revocable Trust
ANGTC
Monmouth Junctio
Middlesex 30,000$ -$
Bradford Paskewitz
ANGTC
Monmouth Junctio
Middlesex
20,000$ -$
Biotech Mountains BV
ANGTC
Monmouth Junctio
Middlesex 30,000$ -$
Robert Meggs
ANGTC
Upper Saddle River
Bergen 4,000$ -$
David Michael Sukoff
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
John Niforatos
ANGTC
Englewood Cliffs B
Bergen 4,000$ -$
Jerry Don Reeves
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Albert E Heacox
ANGTC Wharton Borough Morris 18,750$ -$
Windrock Enterprises LLC
ANGTC
Monmouth Junctio
Middlesex 100,000$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
George Magrath
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Thomas N Levin Heather N Levin JT Ten
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Mark El-Khoury
ANGTC Hoboken City Hudson 100,000$ -$
Kenneth Alexander Grinspun
ANGTC
Englewood Cliffs B
Bergen 2,000$ -$
Charles P Higgins
ANGTC Wharton Borough Morris 4,375$ -$
The Bahr Family Limited
ANGTC
Monmouth Junctio
Middlesex 15,200$ -$
Andrew Cooper Higgins
ANGTC Wharton Borough Morris 4,375$ -$
The Robert L Bahr Revocable Trust - 1985
ANGTC
Monmouth Junctio
Middlesex 9,880$ -$
M & K Bhatt Trust
ANGTC
Monmouth Junctio
Middlesex 25,000$ -$
Shield Street Capital LLC
ANGTC
Monmouth Junctio
Middlesex
10,000$ -$
Sharen J Turney Charles A Turney JT TEN
ANGTC
Monmouth Junctio
Middlesex 50,000$ -$
Danielle Salters
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
GVC Holdings (USA) Inc
ANGTC Jersey City Hudson 500,000$ -$
MGM Sports & Interactive Gaming, LLC
ANGTC Jersey City Hudson 500,000$ -$
The James Momtazee Revocable Trust
ANGTC
Monmouth Junctio
Middlesex 40,000$ -$
Douglas Edward Hansen
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Gillard Family Intervivos Trust
ANGTC
Monmouth Junctio
Middlesex 4,000$ -$
Eric Charles Salzman
ANGTC
Englewood Cliffs B
Bergen 5,000$ -$
William Mark Goldstein
ANGTC Montclair Essex 20,000$ -$
Donald E Hinkle
ANGTC
Monmouth Junctio
Middlesex
4,740$ -$
SATYA SURYA SHANKAR LANKE
ANGTC Piscataway Middlesex 4,200$ -$
Menard Family Trust
ANGTC
Englewood Cliffs B
Bergen
5,000$ -$
Elena Manso Gallastegui
ANGTC
Monmouth Junctio
Middlesex 9,994$ -$
The Melissa Cantacuzene 2007 Revocable
Trust
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Joseph Bateman and Christine Law
ANGTC Wharton Borough Morris 37,500$ -$
Thomas Sanzone
ANGTC
Fair Haven Boroug
Monmouth 50,000$ -$
Robert Semmens Susan Semmens JT TEN
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Kevin White
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Howard Arnold Chester
ANGTC
Monmouth Junctio
Middlesex
5,000$ -$
Zachary Handelman
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Chiung Ting Tan
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Roger Bozarth
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
The Kenneth M. Sutin, MD. Revocable
Trust UAD 01/21/12
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Corey Lee Grossman
ANGTC
Monmouth Junctio
Middlesex 30,000$ -$
A&B Capital Investments LLC
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Richard A. Handelman
ANGTC
Monmouth Junctio
Middlesex
10,000$ -$
Golden Investment Co LP
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Alias Holdings LLC
ANGTC Wharton Borough Morris 37,500$ -$
Winstead Capital LLC
ANGTC Wharton Borough Morris 31,250$ -$
Scott Handelman
ANGTC South Brunswick Middlesex 5,000$ -$
Nora W Wong 2012 Descendants Trust
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
PASE Trust, dtd 6/4/2001
ANGTC
Monmouth Junctio
Middlesex 70,000$ -$
Igor Falkovich
ANGTC
Englewood Cliffs B
Bergen 4,000$ -$
Christopher Denis Landgraff
ANGTC Hoboken City Hudson 10,000$ -$
Bepex Holdings LTD
ANGTC Jersey City Hudson 99,995$ -$
Joel L Hochman Revocable Trust
ANGTC
Monmouth Junctio
Middlesex
5,000$ -$
Anthony J Grant
ANGTC Wharton Borough Morris 12,500$ -$
Ramesh Lakshminarayanan
ANGTC
Fair Haven Boroug
Monmouth 10,000$ -$
John D. Shlesinger
ANGTC Wharton Borough Morris 62,500$ -$
AGT IRREVOCABLE TRUST FBO ROBERT K.
GREEN UAD 02/07/01 ROBERT K. GREEN
TTEE
ANGTC
Monmouth Junctio
Middlesex 100,000$ -$
Rene Chaze
ANGTC Mullica Hill Gloucester 36,000$ -$
Daniel Heller
ANGTC Hillsborough Somerset 5,000$ -$
Patrick Nosker
ANGTC Hillsborough Somerset 5,000$ -$
Frederick Margulies
ANGTC Jersey City Hudson 5,000$ -$
James Marmora & Linda Marmora JT TEN
ANGTC
Bound Brook Borou
Somerset 2,500$ -$
Daniel Lemberg
ANGTC Lakewood Ocean 33,750$ -$
Stephen Michael Payne
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Benson Saxon Limited
ANGTC
Monmouth Junctio
Middlesex 5,850$ -$
Robert W. Fischman
ANGTC Newark City Essex 12,500$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Steven Pozza
ANGTC
Englewood Cliffs B
Bergen 7,000$ -$
Alan Wayne Tamarelli
ANGTC Lakewood Ocean 56,250$ -$
Adamava Enterprises LLC
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Nickitas Panayotou
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Wells Fargo Central Pacific Holdings Inc
ANGTC Jersey City Hudson 500,000$ -$
Avtar S. Parhar
ANGTC
Princeton Borough
Mercer 10,000$ -$
GIBS International, LLC.
ANGTC
Monmouth Junctio
Middlesex
7,300$ -$
Daniel D. Park
ANGTC Newark City Essex 15,000$ -$
Jason Alvarez
ANGTC
Englewood Cliffs B
Bergen 18,000$ -$
NDTCO as Custodian FBO John Dodaro IRA
ANGTC
Englewood Cliffs B
Bergen 17,000$ -$
S. R. Thvar
ANGTC
Princeton Borough
Mercer 20,000$ -$
The Kihara Kiarie Revocable Trust
ANGTC Lyndhurst Bergen 2,271$ -$
Clifford Emilio Bone
ANGTC Newark City Essex 12,500$ -$
The Joaquim Trias Revocable Trust UAD
04/26/05 Joaquim Trias TTEE AMD
04/21/20 /
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Trust U/W Renee Weiss DTD 05-09-90
Peter H Weiss TTEE
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Puranik Revocable Trust UAD 09/27/00
Rajiv Puranik & Manisha Puranik TTEES
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
AR Properties
ANGTC
Monmouth Junctio
Middlesex
90,000$ -$
The Carnahan Trust UAD 8/11/95 Kevin
Carnahan & Laurie Carnahan TTEE
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Timothy P. Hanley Monica Hanley
ANGTC
Monmouth Junctio
Middlesex 4,000$ -$
Edward Stanford
ANGTC
Bound Brook Borou
Somerset 6,250$ -$
Al Brothers Family Trust UAD 12/12/14
Alfred Brothers TTEE
ANGTC
Monmouth Junctio
Middlesex 20,000$ -$
Matthew J. Meenan
ANGTC
Bound Brook Borou
Somerset 2,500$ -$
Campbell Family Trust UAD 03/04/99 Eric
Prescott Campbell + Lisa W. Campbell
TTEES
ANGTC
Monmouth Junctio
Middlesex 11,200$ -$
Walter P Mullen
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Cheryl Vitow and Laurie MacPherson
ANGTC
Bound Brook Borou
Somerset 6,250$ -$
Alfred James Vickery
ANGTC
Bound Brook Borou
Somerset 7,495$ -$
Zaza Jasmine Towers
ANGTC
Bound Brook Borou
Somerset 7,499$ -$
Carlo Di Fonzo
ANGTC
Bound Brook Borou
Somerset 61,245$ -$
James F. Winschel Jr.
ANGTC
Monmouth Junctio
Middlesex 9,500$ -$
Samuel Maltbie
ANGTC Newark City Essex 12,500$ -$
Ronald Martin Burch
ANGTC
Monmouth Junctio
Middlesex
10,000$ -$
Robert P. Roesener
ANGTC
Bound Brook Borou
Somerset 1,500$ -$
Pamela Marrs
ANGTC
Bound Brook Borou
Somerset
12,500$ -$
Dr. Sudarshan Hebbar
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
Jeremy Solomon
ANGTC
Bound Brook Borou
Somerset 1,750$ -$
Tyrol Russell
ANGTC
Bound Brook Borou
Somerset 1,250$ -$
Schone Afwerking, LLC
ANGTC Chatham Morris 10,000$ -$
Michael W Armstong TR UA 08/07/2015
Michael W Armstrong Trust
ANGTC
Bound Brook Borou
Somerset 5,000$ -$
Ron Busslinger
ANGTC
Bound Brook Borou
Somerset 8,750$ -$
Daniel Paul Petro
ANGTC
Monmouth Junctio
Middlesex
20,000$ -$
Christopher Paul Meenan
ANGTC
Bound Brook Borou
Somerset 7,500$ -$
OSI Holdings LLC
ANGTC
Monmouth Junctio
Middlesex 5,000$ -$
Sinmera Middle East and Asia FZ, LLC
ANGTC Chatham Borough Morris 142,800$ -$
Eldar Investments, LLC
ANGTC
Monmouth Junctio
Middlesex 10,000$ -$
GHO Ventures
ANGTC Lakewood Ocean 337,500$ -$
Jonathan Marc Fishbein and Elana
Fishbein
ANGTC
Monmouth Junctio
Middlesex 2,500$ -$
Richard Joseph Shea Tracey Shea Joint
Tenant
ANGTC
Monmouth Junctio
Middlesex 7,500$ -$
Richard Alan Graham Hiba T Graham JT
TEN
ANGTC
Monmouth Junctio
Middlesex 2,500$ -$
Kenneth Schapiro
ANGTC Cedar Knolls Morris 8,000$ -$
Canine Funds, A series of Assure Labs
2020, LLC
ANGTC Lebanon Borough Hunterdon 11,250$ -$
Lambda IV, LLC
ANGTC
Monmouth Junctio
Middlesex 30,000$ -$
Gregg Palmer
ANGTC
Bound Brook Borou
Somerset 5,000$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Ronald Pierce Woodson
ANGTC
Bound Brook Borou
Somerset 6,250$ -$
Gordon Matthews, Trustee, FBO Gordon S
Matthews Solo 401K
ANGTC Newark City Essex 12,500$ -$
Gordon Matthews, Trustee, FBO Gordon S
Matthews Solo 401K
ANGTC Newark City Essex 12,500$ -$
Strategic Investments I, Inc
ANGTC Jersey City Hudson 216,070$ -$
Andrew J Ponte
ANGTC Cedar Knolls Morris 20,000$ -$
Kim Kiat Ong
ANGTC
Monmouth Junctio
Middlesex
7,600$ -$
David J Matlin
ANGTC Cedar Knolls Morris 50,000$ -$
Pensco Trust Company, Custodian FBO
Richard J. Borgatti IRA
ANGTC
Bound Brook Borou
Somerset 12,500$ -$
Tech Council Ventures II-AI LP
ANGTC Hamilton Mercer 28,537$ -$
Tech Council Ventures II LP
ANGTC Hamilton Mercer 114,279$ -$
Carlo Di Fonzo
ANGTC
Bound Brook Borou
Somerset 6,250$ -$
Mezei GST Trust U/A/D 03/19/2010
Leonard Mezei Trustee
ANGTC
Monmouth Junctio
Middlesex 25,000$ -$
Steven Maide
ANGTC Cedar Knolls Morris 5,000$ -$
Eric Robert Fishman
ANGTC Cedar Knolls Morris 20,000$ -$
Robert J. Evans
ANGTC
Bound Brook Borou
Somerset 2,500$ -$
Edward Robert Roskind
ANGTC Cedar Knolls Morris 20,000$ -$
Marco Taglietti
ANGTC Jersey City Hudson 15,000$ -$
Nicholas San Filippo
ANGTC Cedar Knolls Morris 10,000$ -$
Stephen Sclafani
ANGTC Morris Morris 10,000$ -$
Daniel Vickery
ANGTC
Bound Brook Borou
Somerset 12,500$ -$
Christopher Paul Meenan
ANGTC
Bound Brook Borou
Somerset 2,500$ -$
Jay and Anne Jablonski
ANGTC Morris Morris 10,000$ -$
Analog Devices, Inc
ANGTC
Monmouth Junctio
Middlesex 500,000$ -$
Meridian Life Science Inc.
BDCLE 0
Trenton City
BRWNFIFGR Trenton City Mercer 202,858$ 300,000$
Camden City
BRWNFIFGR Camden City Camden 157,142$ 157,142$
Delphine Diagnostics Inc
CATRDVPGR Bordentown Burlington 20,000$ 20,000$
Genesis Care LLC
CATRDVPGR
Gibbsboro Borough
Camden
25,000$ 25,000$
Advanced Technologies for Novel
Therapeutics, LLC
CATRDVPGR Millburn Essex 25,000$ 25,000$
Fuceltech Inc
CATRDVPGR
Princeton Junction
Mercer 25,000$ 25,000$
Paragon Flavors, Inc.
CATRDVPGR
Princeton Borough
Mercer 25,000$ 25,000$
Zena Therapeutics
CATRDVPGR
Princeton Borough
Mercer 25,000$ 25,000$
Aersys, Inc
CATRDVPGR Edison Middlesex 25,000$ 25,000$
SNOChip, Inc.
CATRDVPGR Plainsboro Middlesex 25,000$ 25,000$
Plumeria Therapeutics, Inc.
CATRDVPGR Plainsboro Middlesex 25,000$ 25,000$
Automated Education LLC
CATRDVPGR Piscataway Middlesex 5,000$ 5,000$
Sonder Medicine Inc
CATRDVPGR
North Brunswick To
Middlesex
15,000$ 15,000$
Neoventech
CATRDVPGR
North Brunswick To
Middlesex 25,000$ 25,000$
Favorite Pharmaceuticals
CATRDVPGR Edison Middlesex 25,000$ 25,000$
Lactiga US, Inc.
CATRDVPGR
New Brunswick Cit
Middlesex 25,000$ 25,000$
Small Factory Innovations, Inc.
CATRDVPGR
Monmouth Beach
Monmouth 25,000$ 25,000$
Sentauri Inc
CATRDVPGR Holmdel Monmouth 25,000$ 25,000$
Mendham Mushrooms LLC
CATRDVPGR Morristown Morris 25,000$ 25,000$
Pilates Dynamix LLC
CATRDVPGR
Lincoln Park Borou
Morris 25,000$ 25,000$
Ahersla Health, Inc.
CATRDVPGR Long Beach Ocean 12,500$ 12,500$
Nexomics, Inc.
CATRDVPGR
Rocky Hill Borough
Somerset 25,000$ 25,000$
Endgame Technology
CATRDVPGR
Watchung Borough
Somerset 25,000$ 25,000$
Advanced Analytical Technology Group
LLC
CATRDVPGR Bridgewater Somerset 25,000$ 25,000$
CSR PHARMA GROUP, INC.
CATRDVPGR Bridgewater Somerset 25,000$ 25,000$
Primo Pharmatech LLC
CATRDVPGR Somerset Somerset 25,000$ 25,000$
NEOGENESTAR LLC
CATRDVPGR Somerset Somerset 25,000$ 25,000$
Apinovo Pharma Innovations Inc.
CATRDVPGR Union Union 25,000$ 25,000$
Native State Therapeutics
CATRDVPGR Scotch Plains Union 25,000$ 25,000$
Mark Beesley Manufacturing Inc.
CATRDVPGR Blairstown Warren 25,000$ 25,000$
13 Mari NJ Ltd
CSITSEED2GR Kearny Town Hudson 74,578$ -$
BRISEA INTERNATIONAL DEVELOPMENT,
INC.
CSITSEED2GR
Parsippany-troy Hi
Morris 74,800$ -$
Exovolar Industries Corp
CSITSEED2GR Union City Hudson 74,930$ -$
SingletO2 Therapeutics LLC
CSITSEED2GR
New Providence Bo
Union 75,000$ -$
Blue Rock Solutions Inc.
CSITSEED2GR Williamstown Gloucester 75,000$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
FPG PowerPLUS
CSITSEED2GR Flanders Morris 75,000$ -$
ExoCell Power Corporation
CSITSEED2GR Hoboken City Hudson 74,993$ -$
Redifarms, LLC.
CSITSEED2GR Westfield Town Union 63,080$ -$
HIT NANO, INC.
CSITSEED2GR Bordentown Burlington 75,000$ -$
Sunowner, Inc.
CSITSEED2GR Whippany Morris 74,160$ -$
iCheck Energy LLC
CSITSEED2GR
Fair Lawn Borough
Bergen 75,000$ -$
4.0 Analytics, Inc.
CSITSEED2GR Newark City Essex 75,000$ -$
Energy Research Company
CSITSEED2GR Plainfield City Union 74,996$ -$
Project Plastic LLC
CSITSEED2GR
Princeton Borough
Mercer 74,990$ -$
Pollux Technologies LLC
CSITSEED2GR East Brunswick Middlesex 74,960$ -$
NEUTROELECTRIC LLC
CSITSEED2GR Mullica Hill Gloucester 75,000$ -$
Swind Power LLC
CSITSEED2GR
Princeton Junction
Mercer 72,510$ -$
Nu Lightwave Logic LLC
CSTCATAGR Sicklerville Camden 75,000$ -$
Rizlab Health Incorporated
CSTCATAGR
Princeton Borough
Mercer 75,000$ -$
Innovations Unlimited LLC
CSTCATAGR
Pennsauken Towns
Camden 74,999$ -$
Beyond Main
CSTCATAGR Summit City Union 75,000$ -$
InteguRx Therapeutics
CSTCATAGR Califon Borough Hunterdon 150,000$ -$
Arke Aeronautics LLC
CSTCATAGR Mount Laurel Burlington 75,000$ -$
Tendo Technologies, Inc
CSTCATAGR
Princeton Junction
Mercer 75,000$ -$
Licentiam, Inc
CSTCATAGR Chester Morris 74,975$ -$
Kathera Bioscience, Inc
CSTCATAGR Union Union 150,000$ -$
Neuropair Inc.
CSTCATAGR
Princeton Junction
Mercer
150,000$ -$
Regenosine, Inc.
CSTCATAGR Jersey City Hudson 149,500$ -$
EnvoyatHome, Inc
CSTCATAGR
Gibbsboro Borough
Camden 75,000$ -$
Steerus.io
CSTCATAGR River Vale Bergen 75,000$ -$
Plumeria Therapeutics, Inc.
CSTCATAGR Plainsboro Middlesex 150,000$ -$
DMK Pharmaceuticals Corporation
CSTCATAGR
Peapack And Glads
Somerset 150,000$ -$
AquaPao, Inc.
CSTCATAGR
Princeton Borough
Mercer 75,000$ -$
Throne Biotechnologies Inc
CSTCATAGR Paramus Borough Bergen 150,000$ -$
Drone Go Home, LLC
CSTCATAGR
Oceanport Boroug
Monmouth 75,000$ -$
Lactiga US, Inc.
CSTCATAGR
Princeton Borough
Mercer 150,000$ 56,000$
Li Creative Technologies, Inc.
CSTCATAGR
Florham Park Boro
Morris
74,909$ -$
HealrWorld, LLC
CSTCATAGR
Somerville Borough
Somerset 75,000$ -$
OLI Technologies Inc
CSTCATAGR Raritan Borough Somerset 74,809$ -$
Serdiuk Industries LLC
CSTCATAGR Egg Harbor Atlantic 75,000$ -$
Misram LLC
CSTCATAGR Holmdel Monmouth 75,000$ -$
Hindsight Technology Solutions
CSTCATAGR
South Plainfield Bo
Middlesex 75,000$ -$
Discogen LLC
CSTCATAGR
Harrington Park Bo
Bergen 75,000$ -$
CSR PHARMA GROUP, INC.
CSTCATAGR Bridgewater Somerset 150,000$ -$
Pollux Technologies LLC
CTRDVP2GR 0 25,000$ 25,000$
HIT NANO, INC.
CTRDVP2GR 0 20,000$ 20,000$
Princeton NuEnergy Inc.
CTRDVP2GR Bordentown Burlington 25,000$ 25,000$
4.0 Analytics, Inc.
CTRDVP2GR Newark City Essex 25,000$ 25,000$
NANOSEPEX INC.
CTRDVP2GR Newark City Essex 25,000$ 25,000$
Swind Power LLC
CTRDVP2GR
Princeton Junction
Mercer 25,000$ 25,000$
OLI Technologies Inc
CTRDVP2GR
North Brunswick To
Middlesex 25,000$ 25,000$
Infostat, Inc
CTRDVP2GR Hillsborough Somerset 25,000$ 25,000$
Redifarms, LLC.
CTRDVP2GR
Mountainside Boro
Union 25,000$ 25,000$
Sunowner, Inc.
CTRDVPGR Whippany Morris 9,000$ 9,000$
iCheck Energy LLC
CTRDVPGR
Fair Lawn Borough
Bergen
15,000$ -$
Singer NY, LLC
GN2TC Paterson City Passaic 6,475,000$ 5,087,815$
0
Cross River Bank
GN2TC Fort Lee Borough Bergen 10,928,500$ 19,653,000$
255
Integra Life Sciences
GN2TC Plainsboro Mercer 17,808,320$ 11,213,484$
80
Laboratory Corp. of America Holdings
GN2TC Raritan Borough Somerset 39,984,780$ 139,887,262$
175
Morgan Stanley Domestic Holdings, Inc
GN2TC Jersey City Hudson 20,080,000$ 14,373,165$
251
Trenton City
GRMPL1GR Trenton City Mercer 250,000$ 250,000$
City of Atlantic City
GRMPL1GR Atlantic City Atlantic 250,000$ 250,000$
City of Paterson
GRMPL1GR Paterson City Passaic 250,000$ 250,000$
Pride Drive LLC
HAZGR Springfield Union 101,661$ 102,161$
Habitat for Humanity of Monmouth
County Inc
HAZGR
Atlantic Highlands
Monmouth 4,690$ 5,190$
Open Space Institute Land Trust Inc
HAZGR Bloomfield Essex 168,600$ 169,100$
Rachelle Grossman and Robert
Seelenfreund
HAZGR West Orange Essex 4,557$ 5,057$
Isles, Inc.
HAZGR Trenton City Mercer 304,611$ 305,111$
John Meyers
HAZGR Jersey City Hudson 28,179$ 28,679$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Roberta Ferrara
HAZGR Cedar Grove Essex 28,148$ 28,648$
Thomas Donofrio
HAZGR Denville Morris 41,318$ 41,818$
Peter Bonavota and Christina Bonavota
HAZGR Newark City Essex 14,044$ 14,544$
Camden Redevelopment Agency
HSMGR Camden City Camden 54,765$ 55,265$
Newark Housing Authority
HSMGR Newark City Essex 363,712$ 364,212$
National Park Borough
HSMGR
National Park Boro
Gloucester 2,986,336$ 2,986,836$
Perth Amboy City
HSMGR Perth Amboy City Middlesex 201,296$ 201,796$
Burlington City
HSMGR Burlington City Burlington 113,023$ 113,523$
National Park Borough
HSMGR
National Park Boro
Gloucester 2,325,059$ 3,100,579$
Camden Redevelopment Agency
HSMGR Camden City Camden 101,181$ 135,408$
Hamilton Township
HSMGR Hamilton Mercer 246,001$ 246,501$
Camden Redevelopment Agency
HSMGR Camden City Camden 91,146$ 91,646$
Spring Lake Heights Borough
HSMGR
Spring Lake Height
Monmouth 52,073$ 52,573$
Cumberland County Improvement
Authority
HSMGR Millville City Cumberland 133,680$ 134,180$
Montclair Township
HSMGR Montclair Essex 35,280$ 35,780$
Highland Park Borough
HSMGR
Highland Park Boro
Middlesex 54,581$ 55,081$
Perth Amboy City
HSMGR Perth Amboy City Middlesex 88,289$ 88,789$
Borough of Roselle
HSMGR Roselle Borough Union 43,837$ 44,337$
Glassboro Borough
HSMGR
Glassboro Borough
Gloucester 501,188$ 501,688$
Township of Neptune
HSMGR Neptune Monmouth 321,574$ 322,074$
Newark Housing Authority
HSMGR Newark City Essex 15,473$ 15,973$
Borough of Allendale
HSMGR Allendale Borough Bergen 80,140$ 80,640$
Alpha Borough
HSMGR Alpha Borough Warren 76,998$ 77,498$
Township of Neptune
HSMGR Neptune Monmouth 7,814$ 8,314$
South River Borough
HSMGR
South River Boroug
Middlesex 65,441$ 65,941$
Orange City
HSMGR Orange Essex 56,642$ 72,352$
Orange City Township
HSMGR Orange Essex 39,694$ 40,194$
Salem City
HSMGR Salem City Salem 87,589$
Asbury Park City
HSMGR Asbury Park City Monmouth 33,551$
Romer Shoal Lighthouse
HTFLO Madison Borough Morris 470,000$ 470,000$
ARTISAN LA PETITE
IDAGR Hackensack City Bergen 1,500$
The New Jersey Institute For Training In
Psychoanalysis
IDAGR Teaneck Bergen 2,300$
PAK TRADE LLC
IDAGR Hackensack City Bergen 4,900$
A1 Poly USA
IDAGR Englewood City Bergen 4,500$
SARA'S DISCOUNT CORP
IDAGR North Bergen Hudson 3,700$
GSH Restaurant Corp
IDAGR Bayonne City Hudson 3,200$
Baxley X Inc
IDAGR Manville Borough Somerset 5,000$
Funtopia Shop, LLC
IDAGR
Ridgefield Borough
Bergen
3,400$
Besder Group Inc
IDAGR Rahway City Union 5,000$
THREE STAGES CHILDCARE CENTER, INC.
IDAGR East Orange City Essex 4,673$
Julius Pampani
IDAGR Manville Borough Somerset 1,640$
Ceilo Management Group LLC
IDAGR Elizabeth City Union 2,600$
M&W Autoservice LLC
IDAGR Stockton Borough Hunterdon 3,550$
FOOD FOR LIFE DELI & SUSHI, INC
IDAGR
Englewood Cliffs B
Bergen 5,000$
Franklins Grace Resource Center Inc
IDAGR Somerset Somerset 3,000$
ACCESS BRANDED LLC
IDAGR Hoboken City Hudson 1,300$
Jay's Garage Inc
IDAGR Englewood City Bergen 3,524$
Neaha sub 2 LLC
IDAGR Jersey City Hudson 2,905$
Leon and Associate Llc
IDAGR Elizabeth City Union 1,971$
morris avenue auto sale LLC
IDAGR Elizabeth City Union 3,350$
Master Herbs USA Inc
IDAGR Hackensack City Bergen 4,200$
traceybars LLC
IDAGR Lambertville City Hunterdon 2,120$
mig distribution llc
IDAGR Union Union 2,400$
Calabreses Barbershop, LLC
IDAGR Keyport Borough Monmouth 1,386$
Giovanna's Kitchen
IDAGR North Bergen Hudson 1,800$
Rumba of Clifton LLC
IDAGR Clifton City Passaic 5,000$
sbs 207 lodi llc
IDAGR Hackensack City Bergen 5,000$
A2Z DENTAL PC
IDAGR Manville Borough Somerset 2,800$
GrasshopperLLC
IDAGR North Bergen Hudson 3,500$
Mo grill and sweets llc
IDAGR
Somerville Borough
Somerset 1,200$
Original Sharp LLC
IDAGR Millburn Essex 2,907$
Frank's Pizzeria INC
IDAGR North Bergen Hudson 1,000$
LIK Logistics Corp
IDAGR Rahway City Union 5,000$
adinkra llc
IDAGR Edison Middlesex 4,500$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Dr. Anthony J Sarra D.C.,P.A.
IDAGR Hackensack City Bergen 1,550$
Now Fitness LLC
IDAGR
Woodland Park Bo
Passaic 2,400$
Flamil Professional Paralegal Services LLC
IDAGR Passaic City Passaic 1,200$
Afor African Market LLC
IDAGR Irvington Essex 3,900$
Gil&Kim inc
IDAGR Paterson City Passaic 3,707$
Juana's beatu salon
IDAGR Elizabeth City Union 1,150$
Ainsworth Family LLC
IDAGR Roselle Borough Union 5,000$
Piranha Poster Inc.
IDAGR Somerset Somerset 5,000$
NEW SPACE DESIGN LLC
IDAGR
Palisades Park Boro
Bergen 3,939$
ILIAN GROCERY
IDAGR East Orange City Essex 1,650$
IEXPRESS SERVICE, LLC
IDAGR
Palisades Park Boro
Bergen 5,000$
Sommese,Richard A
IDAGR Nutley Essex 1,000$
Reinhold's Bake shop, Inc.
IDAGR
Waldwick Borough
Bergen 2,628$
Elizabeth One Stop Kosher
IDAGR Elizabeth City Union 5,000$
kings laundromat
IDAGR Trenton City Mercer 4,418$
Taha Salad LLC
IDAGR Millburn Essex 4,166$
Kirklar inc
IDAGR Clifton City Passaic 5,000$
Kamoflage Entertainment LLC
IDAGR Hackensack City Bergen 2,059$
Accel Learning LLC
IDAGR Secaucus Town Hudson 2,322$
TNT Shirt Laundry and Dry Cleaner LLC
IDAGR Bayonne City Hudson 2,700$
CLOVERED ACCESSORIES LLC
IDAGR North Bergen Hudson 3,491$
V&S Woodworks
IDAGR Tenafly Borough Bergen 3,857$
New Ambrosre nails
IDAGR Millburn Essex 3,250$
Marble Online Corp
IDAGR Kearny Town Hudson 5,000$
Cakemom & J LLC
IDAGR
New Milford Borou
Bergen 1,300$
Millburn Culinary Associates Inc
IDAGR Millburn Essex 5,000$
Mill Ballet School
IDAGR Lambertville City Hunterdon 5,000$
JAY MELDI MAA, LLC
IDAGR Clifton City Passaic 5,000$
Brookdale Supermarket No1 LLC
IDAGR Newark City Essex 2,500$
The LAB Performance & Sports Science
LLC.
IDAGR Fairfield Essex 4,227$
Garzon city restaurant LLC
IDAGR Jersey City Hudson 1,748$
JK SIGNS & Graphic Design
IDAGR Elizabeth City Union 1,400$
Schwa 2005 Inc.
IDAGR Englewood City Bergen 4,650$
Swing Town LLC
IDAGR
Flemington Boroug
Hunterdon 5,000$
Grupo La Providencia LLC
IDAGR Clifton City Passaic 5,000$
Action Rubber & Industrial Supply Inc
IDAGR
Rochelle Park Town
Bergen 5,000$
ANGRY CHICK LLC
IDAGR Fort Lee Borough Bergen 5,000$
Anna Gazu DDS PA
IDAGR Clifton City Passaic 2,650$
PBP PARK CORP
IDAGR Union Union 1,550$
The Junto Club LLC
IDAGR Jersey City Hudson 3,500$
LEE,YANG SOO
IDAGR Hoboken City Hudson 1,550$
KSBRANIGAN LAW, P.C.
IDAGR Montclair Essex 2,754$
Nishama, LLC.
IDAGR
Somerville Borough
Somerset 1,700$
Westfield Associates in Internal Medicine
& Gastroenterology
IDAGR Westfield Town Union 1,240$
440 Main Street, LLC
IDAGR West Orange Essex 2,541$
DeBogat Fine Art Gallery
IDAGR Lambertville City Hunterdon 2,702$
The Social Status Co., LLC
IDAGR Scotch Plains Union 1,650$
Beneath It All, LLC
IDAGR
Somerville Borough
Somerset 1,650$
PBP Eddys Corp
IDAGR Bayonne City Hudson 2,150$
Office Penny LLC
MBL2FL Piscataway Middlesex 2,450$
M & J MECHANICAL LLC
MBL2FL Union City Hudson 4,600$
MATAL INC.
MBL2FL Berkeley Heights Union 2,400$
Signature Princeton Corp
MBL2FL Princeton North Mercer 2,500$
Performance Selling LLC
MBL2FL Somerset Somerset 2,500$
Windsor Green Enterprise LLC
MBL2FL West Windsor Mercer 2,500$
CellVio Biomedical LLC.
MBL2FL Raritan Borough Somerset 5,000$
SICSIN 360 INC.
MBL2FL
New Brunswick Cit
Middlesex 2,500$
NJY VISTA LLC
MBL2FL Fort Lee Borough Bergen 2,500$
KEPWEL SPRING WATER CO. INC.
MBL2FL Ocean Monmouth 2,500$
M&R MANAGEMENT GP, LLC
MBL2FL Deptford Gloucester 2,500$
Bradley's Hard Surface Cleaning LLC
MBL2FL West Deptford Gloucester 2,500$
Joseph S Battiato
MBL2FL Mannington Salem 5,000$
PAPA'S TRAVEL STORE, INC.
MBL2FL Secaucus Town Hudson 2,500$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
C.E.G. Corporation
MBL2FL
Glen Rock Borough
Bergen 5,000$
Pacific Hospitality llc
MBL2FL Cape May City Cape May 2,500$
Vineland Realty Corp.
MBL2FL Vineland City Cumberland 5,000$
Setaara
MBL2FL Atlantic City Atlantic 5,000$
CLEAN N BRIGHT LAUNDROMAT INC
MBL2FL Union City Hudson 2,500$
PAPA'S TRAVEL STORE, INC.
MBL2LO Secaucus Town Hudson 22,500$ 25,000$
0
Setaara
MBL2LO Atlantic City Atlantic 45,000$ 50,000$
0
Joseph S Battiato
MBL2LO Mannington Salem 45,000$ 50,000$
Bradley's Hard Surface Cleaning LLC
MBL2LO West Deptford Gloucester 22,500$ 25,000$
Signature Princeton Corp
MBL2LO Princeton North Mercer 22,500$ 25,000$
Windsor Green Enterprise LLC
MBL2LO West Windsor Mercer 22,500$ 25,000$
Performance Selling LLC
MBL2LO Somerset Somerset 22,500$ 25,000$
0
KEPWEL SPRING WATER CO. INC.
MBL2LO Ocean Monmouth 22,500$ 25,000$
Pacific Hospitality llc
MBL2LO
Location1: Cape M
Location1: Cape M
22,500$
25,376$
0
CLEAN N BRIGHT LAUNDROMAT INC
MBL2LO Union City Hudson 22,500$ 50,000$
0
Vineland Realty Corp.
MBL2LO Vineland City Cumberland 45,000$ 50,000$
0
M & J MECHANICAL LLC
MBL2LO Union City Hudson 41,400$ 46,000$
0
MATAL INC.
MBL2LO Berkeley Heights Union 21,600$ 24,000$
0
C.E.G. Corporation
MBL2LO
Glen Rock Borough
Bergen 45,000$ 50,000$
0
M&R MANAGEMENT GP, LLC
MBL2LO Deptford Gloucester 22,500$ 50,000$
0
Office Penny LLC
MBL2LO Piscataway Middlesex 22,050$ 24,500$
0
SICSIN 360 INC.
MBL2LO
New Brunswick Cit
Middlesex
22,500$ 25,000$
0
NJY VISTA LLC
MBL2LO Fort Lee Borough Bergen 22,500$ 25,000$
0
CellVio Biomedical LLC.
MBL2LO Raritan Borough Somerset 45,000$ 50,000$
0
B Q NAIL SPA LLC
MBL3LO
Hammonton Town
Atlantic 50,000$ 50,000$
PREFERRED BUSINESS SOLUTIONS
CORPORATION
MBL3LO Mays Landing Atlantic 50,000$ 50,000$
Shirley Grasso LLC
MBL3LO
Hammonton Town
Atlantic 50,000$ 50,000$
Rodio's Kitchen LLC
MBL3LO
Hammonton Town
Atlantic 50,000$ 50,000$
CHAS MARKETING, INC.
MBL3LO
Little Ferry Boroug
Bergen 50,000$ 50,000$
HADOUKEN LLC
MBL3LO South Hackensack Bergen 50,000$ 50,000$
DS BOONSIKNARA INC.
MBL3LO
Palisades Park Boro
Bergen
50,000$ 50,000$
Gearblock Brewing Company
MBL3LO
Waldwick Borough
Bergen 50,000$ 50,000$
Lively McCabe LLC
MBL3LO Ridgewood Village Bergen 50,000$ 50,000$
I.C.E.F., INC.
MBL3LO Fort Lee Borough Bergen 50,000$ 50,000$
J LEAN, LLC
MBL3LO
Ridgefield Borough
Bergen 50,000$ 50,000$
Peach Tree Accounting & Taxation LLC
MBL3LO
Englewood Cliffs B
Bergen 50,000$ 50,000$
WONEE, INC.
MBL3LO
Cliffside Park Borou
Bergen 50,000$ 50,000$
INTOGLAM CORP.
MBL3LO
Palisades Park Boro
Bergen 25,000$ 25,000$
HYEND INTERNATIONAL INC
MBL3LO
Edgewater Boroug
Bergen
50,000$ 50,000$
CRID DEVELOPMENT INC
MBL3LO
Edgewater Boroug
Bergen 50,000$ 50,000$
VANILLA ICE NJ INC.
MBL3LO
Englewood Cliffs B
Bergen
49,996$ 49,996$
TAEWON JUN
MBL3LO Fort Lee Borough Bergen 50,000$ 50,000$
SONG DENTAL, LLC
MBL3LO Tenafly Borough Bergen 50,000$ 50,000$
Betty Cleaners CHA's LLC
MBL3LO Mahwah Bergen 50,000$ 50,000$
WJ CHOI CPA LLC
MBL3LO
Ridgefield Borough
Bergen 50,000$ 50,000$
JOOASOO LLC
MBL3LO
Englewood Cliffs B
Bergen 50,000$ 50,000$
J Park Law Firm Limited Liability Company
MBL3LO
Englewood Cliffs B
Bergen 50,000$ 50,000$
SUNG W SEO CPA LLC
MBL3LO
Ridgefield Park Vill
Bergen
50,000$ 50,000$
Debonair Music Hall LLC
MBL3LO Teaneck Bergen 50,000$ 50,000$
ARLINGTON GARMENT CARE, INC.
MBL3LO
North Arlington Bo
Bergen 50,000$ 50,000$
Garden State Acupuncture & Herbs PC
MBL3LO
River Edge Borough
Bergen 50,000$ 50,000$
Neo-Toto Inc
MBL3LO
Palisades Park Boro
Bergen 50,000$ 50,000$
Robin Hood Cleaning Limited Liability
Company
MBL3LO Fort Lee Borough Bergen 50,000$ 50,000$
ALK Associates Limited Liability Company
MBL3LO
Montvale Borough
Bergen 50,000$ 50,000$
NEW KOKO LOKO LLC
MBL3LO
Palisades Park Boro
Bergen 50,000$ 50,000$
TODD SHELTON LLC
MBL3LO
East Rutherford Bo
Bergen
50,000$ 50,000$
Honors Billing, Inc
MBL3LO
Englewood Cliffs B
Bergen 50,000$ 50,000$
Ivy Insurance Agency Incorporated
MBL3LO Fort Lee Borough Bergen 25,000$ 25,000$
E'NOM LLC
MBL3LO
Englewood Cliffs B
Bergen 50,000$ 50,000$
The S.OH Group LLC
MBL3LO
Edgewater Boroug
Bergen 50,000$ 50,000$
KAAVYA SERVICES LLC
MBL3LO
Fair Lawn Borough
Bergen 33,750$ 33,750$
Mist Gardens, LLC
MBL3LO Hackensack City Bergen 50,000$ 50,000$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Clarence Jackson Skills Academy Limited
Liability Company
MBL3LO Evesham Burlington 50,000$ 50,000$
Axe Out Entertainment LLC
MBL3LO Browns Mills Burlington 50,000$ 50,000$
The Turquoise Cup LLP
MBL3LO Burlington Burlington 50,000$ 50,000$
Bluekey Homes LLC
MBL3LO Mount Laurel Burlington 50,000$ 50,000$
J and Z Consulting Services LLC
MBL3LO Riverside Burlington 50,000$ 50,000$
Affordable Tax & Accounting Services LLC
MBL3LO Cherry Hill Camden 50,000$ 50,000$
AN ALL IN ONE CLEANERS, INC.
MBL3LO Cherry Hill Camden 50,000$ 50,000$
Bay Hill Environmental LLC
MBL3LO Cherry Hill Camden 50,000$ 50,000$
Barson Business Solutions LLC
MBL3LO
Cherry Hill Townsh
Camden
50,000$ 50,000$
Princel Shah, CPA & Company LLC
MBL3LO
Gibbsboro Borough
Camden 38,919$ 38,919$
Insured by Steph LLC
MBL3LO Berlin Camden 50,000$ 50,000$
CTB Systems, LLC
MBL3LO
Cherry Hill Townsh
Camden 50,000$ 50,000$
Free Love Bridal LLC
MBL3LO Cape May City Cape May 50,000$ 50,000$
David B. Scales Jr
MBL3LO Vineland City Cumberland 50,000$ 50,000$
Chong Tae Kim & Sue Y. Kim
MBL3LO Irvington Essex 50,000$ 50,000$
Bucco, LLC
MBL3LO Bloomfield Essex 50,000$ 50,000$
Alix Rubin Law LLC
MBL3LO Fairfield Essex 50,000$ 50,000$
A-Plus-Consulting Limited Liability
Company
MBL3LO Newark City Essex 48,360$ 48,360$
MAJESTIC CLEANERS INC
MBL3LO Irvington Essex 50,000$ 50,000$
RyArMo Photography Studio LLC
MBL3LO Newark City Essex 49,882$ 49,882$
Togo Logistics LLC
MBL3LO Woolwich Gloucester 50,000$ 50,000$
Sign Media Enterprises Inc
MBL3LO
Glassboro Borough
Gloucester 50,000$ 50,000$
RENDOR LLC
MBL3LO Weehawken Hudson 50,000$ 50,000$
Grand Cleaner LLC
MBL3LO Hoboken City Hudson 49,999$ 49,999$
PBP Eddys Corp
MBL3LO Bayonne City Hudson 50,000$ 50,000$
Plainfield Clippers Inc.
MBL3LO Jersey City Hudson 50,000$ 50,000$
Boxed Vinyl LLC
MBL3LO
Flemington Boroug
Hunterdon 50,000$ 50,000$
SUBH LAXMI FOOD LLC
MBL3LO
White House Statio
Hunterdon 50,000$ 50,000$
Hopewell Valley Engineering, P.C.
MBL3LO
Pennington Boroug
Mercer
50,000$ 50,000$
Carellas Chocolates Limited Liability
Company
MBL3LO Hamilton Mercer 50,000$ 50,000$
MODESTA PRINCETON CORP
MBL3LO
Princeton Junction
Mercer 50,000$ 50,000$
Creative Leasing Solutions, Inc.
MBL3LO
North Brunswick To
Middlesex 50,000$ 50,000$
GOLDEN CHOICE CORPORATION
MBL3LO Dunellen Borough Middlesex 50,000$ 50,000$
AARPS ROBOTICS LLC
MBL3LO Iselin Middlesex 50,000$ 50,000$
JUCOWICS HOLDINGS LLC
MBL3LO
Metuchen Borough
Middlesex 50,000$ 50,000$
North Star Solutions, L.L.C.
MBL3LO Long Branch City Monmouth 50,000$ 50,000$
Charles J. Koehler Realty L.L.C.
MBL3LO
Avon-by-the-sea Bo
Monmouth 49,901$ 49,901$
Madison Repair LLC
MBL3LO Howell Monmouth 50,000$ 50,000$
LINEA System, LLC
MBL3LO
Parsippany-troy Hi
Morris 50,000$ 50,000$
ENG Cleaners Inc
MBL3LO Chatham Morris 50,000$ 50,000$
EFILIGREE INC.
MBL3LO Morris Morris 50,000$ 50,000$
B&C Nail LLC
MBL3LO
Parsippany-troy Hi
Morris 50,000$ 50,000$
MY HEART CLEANERS, INC
MBL3LO Chester Morris 50,000$ 50,000$
Vivaria Ecologics LLC
MBL3LO Pine Brook Morris 50,000$ 50,000$
Morph Mentoring LLC
MBL3LO Toms River Ocean 50,000$ 50,000$
SPICE AND ZEST LLC
MBL3LO Toms River Ocean 50,000$ 50,000$
C&G Moneta L.L.C.
MBL3LO Little Egg Harbor Ocean 50,000$ 50,000$
SERVEFFICIENT INC
MBL3LO Toms River Ocean 50,000$ 50,000$
Chana Birnbaum LLC
MBL3LO Jackson Ocean 50,000$ 50,000$
URENA TAX & ACCOUNTING SOLUTIONS
LLC
MBL3LO Paterson City Passaic 50,000$ 50,000$
World Consulting, Inc.
MBL3LO Clifton City Passaic 50,000$ 50,000$
PINK NAIL 237 LLC
MBL3LO Clifton City Passaic 50,000$ 50,000$
Bower Web Solutions Inc
MBL3LO
Ringwood Borough
Passaic 50,000$ 50,000$
B&D Medical Transport Inc
MBL3LO Clifton City Passaic 50,000$ 50,000$
GIL & KIM, INC.
MBL3LO Paterson City Passaic 50,000$ 50,000$
PRINCESS NAILS SALON LLC
MBL3LO
Bloomingdale Boro
Passaic 50,000$ 50,000$
Global Community Corp.
MBL3LO Passaic City Passaic 50,000$ 50,000$
LEE'S FRENCH NAILS 1 LLC
MBL3LO Little Falls Passaic 50,000$ 50,000$
AIC Business Services LLC
MBL3LO Clifton City Passaic 36,000$ 36,000$
Fitzpatrick Transport LLC
MBL3LO Pilesgrove Salem 48,552$ 48,552$
Magnum Technologies, Inc.
MBL3LO Martinsville Somerset 50,000$ 50,000$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Nail Boutique II LLC
MBL3LO Skillman Somerset 50,000$ 50,000$
KNIGHTSBRIDGE ESTATES LLC
MBL3LO Bedminster Somerset 50,000$ 50,000$
EZ RETAIL AND CONSULTING LLC
MBL3LO Sparta Sussex 48,290$ 48,290$
Tier 1 Management LLC
MBL3LO Union Union 50,000$ 50,000$
Imperial Accounting Services LLC
MBL3LO Union Union 50,000$ 50,000$
NYBDC Local Development Corporation
MLENDERGR Oakland Borough Bergen 1,500,000$ 1,500,
000$
Eastern American Certified Development
Company
MLENDERGR
Palisades Park Boro
Bergen 1,500,000$ 1,500,000$
Cooperative Business Assistance
Corporation
MLENDERGR Camden City Camden 1,500,000$ 1,500,000$
The Enterprise Center Capital Corporation
MLENDERGR Camden City Camden 1,500,000$ 1,500,000$
Greater Newark Enterprises Corp.
MLENDERGR Newark City Essex 1,500,000$ 1,500,000$
Trenton Business Assistance Corporation
MLENDERGR Mercerville Mercer 1,500,000$ 1,500,000$
The Union County Economic Development
Corporation
MLENDERGR Cranford Union 1,300,000$ 1,300,000$
Elizabeth Development Company of New
Jersey
MLENDERGR Elizabeth City Union 1,400,000$ 1,400,000$
New Jersey Performing Arts Center
NJAIFCGR Newark Essex 2,000,000$ 2,000,
000$
EnvoyatHome, Inc
NJALO
Gibbsboro Borough
Camden
50,000$ 50,000$
Inkbench, Inc.
NJCLO Montclair Essex 145,000$ 250,000$
New Jersey Institute of Technology
NJIGR Newark City Essex 7,200$ -$
Ordonez Property Management LLP
NJZIPGR
Hightstown Boroug
Mercer 195,500$ 195,500$
TU SUPITE FRITURA DOMINICANA BAKERY
INC.
NJZIPGR Passaic City 97,750$ 97,750$
OK MEDIA MARKETING LLC
NJZIPGR Robbinsville 97,750$ 97,750$
OK MEDIA MARKETING LLC
NJZIPGR Robbinsville 97,750$ 97,750$
LA OFICINA LLC
NJZIPGR Lodi Borough 99,500$ 99,500$
DAJIUEVI-F LLC
NJZIPGR Passaic City 199,000$ 199,000$
Revive by Carolina Inc.
NJZIPGR Englewood City 99,500$ 99,500$
MPV AGENCY LLC
NJZIPGR Bloomfield 97,750$ 97,750$
Adapa LLC
NJZIPGR Hasbrouck Heights Borough 318,750$ 318,750$
NCP Painters LLC
NJZIPGR Haworth Borough 203,500$ 203,500$
Alerta Delivery LLC
NJZIPGR Elizabeth City 99,500$ 99,500$
KRONOS LOGISTICS LIMITED LIABILITY
COMPANY
NJZIPGR Elizabeth City 203,500$ 203,500$
Chic Massage LLC
NJZIPGR North Bergen 101,750$ 101,750$
LA GUELAGUETZA MEXICAN GROCERY
NJZIPGR New Brunswick City 99,750$ 99,750$
Pantelis Kounis
NJZIPGR Margate City 112,500$ 112,500$
CARMONA HOME INSTALLATION SERVICES
& STONE COUNTERTOPS, LLC
NJZIPGR Edison 101,750$ 101,750$
EDISON TEXMEX DELI LLC
NJZIPGR Edison 97,750$ 97,750$
DAFER TAX & ACCOUNTING SERVICES LLC
NJZIPGR Somerset 101,750$ 101,750$
NAM Home Solutions
NJZIPGR Princeton Junction 97,750$ 97,750$
VARIEDADES POCHTLAN AND PRODUCE
LLC
NJZIPGR New Brunswick City 101,750$ 101,750$
Geoponica Greens LLC
NJZIPGR Chesilhurst Borough 97,750$ 97,750$
Industry Providers & Buyers LLC
NJZIPGR Jersey City 101,750$ 101,750$
IPPsolar Transport LLC
NJZIPGR Moonachie Borough 500,000$ 500,000$
Tango Direct nj llc
NJZIPGR Franklin 125,000$ 125,000$
Garden Paper NJ Corp
NJZIPGR Union City 99,500$ 99,500$
King Delicatessen LLC
NJZIPGR Martinsville 97,750$ 97,750$
KLM Transportation LLC
NJZIPGR Elizabeth City 99,500$ 99,500$
D.I.A. SUPERMARKET LLC
NJZIPGR East Orange City 97,750$ 97,750$
Eraso Landscape And Construction LLC
NJZIPGR Piscataway 195,500$ 195,500$
Salus Per Aquam LLC
NJZIPGR Randolph 205,500$ 205,500$
SABOR 3 COLORES LLC
NJZIPGR Piscataway 97,750$ 97,750$
JAZBELL TRANSPORTATION LLC
NJZIPGR Warren 199,000$ 199,000$
DANIELA'S EVENT DESIGN & PARTY
RENTAL LLC
NJZIPGR Somerset 101,750$ 101,750$
Bendita Arepa Llc
NJZIPGR Paterson City 305,250$ 305,250$
Supreme Green Team LLC
NJZIPGR East Brunswick 387,000$ 387,000$
CHE NEWSPAPERS LLC
NJZIPGR New Brunswick City 97,750$ 97,750$
Picco Partners LLC
NJZIPGR Montclair 281,250$ 281,250$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Brian Reich
NJZIPGR Atlantic City 112,500$ 112,500$
Alerta Delivery LLC
NJZIPGR Elizabeth City 199,500$ 199,500$
Pick & Send Transportation LLC
NJZIPGR Hamilton 391,000$ 391,000$
FIOZAIT-A LLC
NJZIPGR Passaic City 187,500$ 187,500$
D&S Management Consulting LLC
NJZIPGR Passaic City 199,000$ 199,000$
La Deliciosa LLC
NJZIPGR Passaic City 187,500$ 187,500$
Gerson Bakery & Cafe Company
NJZIPGR Passaic City 93,750$ 93,750$
Auto Virtual LLC
NJZIPGR Middlesex Borough 684,250$ 684,250$
Suris Glam LLC
NJZIPGR Union City 203,500$ 203,500$
Kiml Enterprises LLC
NJZIPGR Matawan Borough 195,500$ 195,500$
Kazi Uddin
NJZIPGR Atlantic City 116,500$ 116,500$
Curly Willow LLC
NJZIPGR Smithville 97,750$ 97,750$
Amir Rahman
NJZIPGR Galloway 116,500$
Java's Compost, LLC
NJZIPGR West Orange 101,750$
FITO GLOBAL INC.
NJZIPGR South Plainfield Borough 101,750$
Asset Appraisals, Inc.
NJZIPGR Belmar Borough 93,750$
Old Village Farm LLC
NJZIPGR Milford Borough 203,500$
Patsez llc
NJZIPGR Brownville 203,500$
Amira Transport LLC
NJZIPGR Egg Harbor 112,500$
Ignite One
NJZIPGR Belleville 796,000$
Jitney Time LLC
NJZIPGR Ventnor City 112,500$
Patsez llc
NJZIPGR Brownville 101,750$
Mohammad O Haque
NJZIPGR Egg Harbor 116,500$
Office Penny LLC
NJZIPGR Piscataway 293,250$
Evripidis Nouragas LLC
NJZIPGR Egg Harbor 112,500$
Irwin Brownstein
NJZIPGR Egg Harbor 112,500$
Siming Xie
NJZIPGR Atlantic City 116,500$
Kevin Chau
NJZIPGR Mays Landing 116,500$
Rival Gauthier
NJZIPGR Mays Landing 233,000$
Robert Mikolajczak
NJZIPGR Little Egg Harbor 112,500$
Jesus Sorto
NJZIPGR Atlantic City 233,000$
Iqbal Hossen
NJZIPGR Atlantic City 233,000$
Sayed Eladawy
NJZIPGR Mays Landing 116,500$
Yun Hee Lee
NJZIPGR Mays Landing 116,500$
Aminur Rahman
NJZIPGR Egg Harbor 233,000$
Seung Hee Yoo
NJZIPGR Egg Harbor 116,500$
Kwang C. Yoo
NJZIPGR Egg Harbor 233,000$
Delfino J. Terrones
NJZIPGR Ventnor City 233,000$
Brian Portnoy
NJZIPGR Egg Harbor 112,500$
Zaharias Bournousouzis
NJZIPGR Absecon City 112,500$
Hugo A. Martinez
NJZIPGR Egg Harbor 116,500$
Carlos Savinon
NJZIPGR Pleasantville City 116,500$
George E Ingram
NJZIPGR Galloway 116,500$
Julio Carrillo-Rincon
NJZIPGR Pleasantville City 116,500$
Alexander Carfagno
NJZIPGR Egg Harbor 112,500$
John Lanfranchih
NJZIPGR Egg Harbor 112,500$
Jin Xie
NJZIPGR Egg Harbor 233,000$
MD A Sattar
NJZIPGR Galloway 116,500$
Harris Ardelean
NJZIPGR Ocean City 112,500$
T&S Alexandria Transport
NJZIPGR Egg Harbor 233,000$
Salvatore Bancheri
NJZIPGR Ventnor City 225,000$
Cumberland County Jitney LLC
NJZIPGR Millville City 112,500$
Ace and Ace LLC
NJZIPGR Ventnor City 225,000$
Dennis Gitsas
NJZIPGR Northfield City 112,500$
Mohammed Uddin
NJZIPGR Ventnor City 233,000$
William Rodgers
NJZIPGR Ocean City 112,500$
Constantine Gusis
NJZIPGR Atlantic City 112,500$
Jose Castillo
NJZIPGR Northfield City 116,500$
Emteaj Hossain
NJZIPGR Atlantic City 116,500$
Cassandra Clark
NJZIPGR Atlantic City 120,500$
Pantelis Kounis
NJZIPGR Margate City 112,500$
Kazi Uddin
NJZIPGR Atlantic City 116,500$
Jitney84 LLC
NJZIPGR Egg Harbor 233,000$
Yousef Sarker
NJZIPGR Egg Harbor 116,500$
Jitney Guy Limited Liability Company
NJZIPGR Atlantic City 112,500$
Mohamed Abouhalawa
NJZIPGR Galloway 233,000$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
John Newton
NJZIPGR Little Egg Harbor 112,500$
Ronald Rodgers
NJZIPGR Egg Harbor City 225,000$
Howard Bloom
NJZIPGR Margate City 225,000$
Salvatore Calabro
NJZIPGR Linwood City 225,000$
Chong Yang
NJZIPGR Egg Harbor 233,000$
Steven Fein
NJZIPGR Linwood City 112,500$
Mohammad Hoque
NJZIPGR Egg Harbor 116,500$
Chris Mitoulis
NJZIPGR Linwood City 112,500$
Vicki Piperato
NJZIPGR Galloway 233,000$
Aviad Coppens
NJZIPGR Egg Harbor 225,000$
Mohammad Zaman
NJZIPGR Egg Harbor 116,500$
Joseph Heard
NJZIPGR Ventnor City 112,500$
Stefanos Koutsfetsoulis
NJZIPGR Absecon City 112,500$
Lance Holmes
NJZIPGR Mays Landing 233,000$
Pai Gong Jiang
NJZIPGR Egg Harbor 116,500$
Abdulmanan M Abdulfath
NJZIPGR Galloway 233,000$
Francis Gallagher
NJZIPGR Egg Harbor 116,500$
Khasru Zaman
NJZIPGR Galloway 233,000$
Felipe Hoyos
NJZIPGR Egg Harbor 233,000$
Dan Lam
NJZIPGR Atlantic City 116,500$
Monir Hossain
NJZIPGR Egg Harbor 116,500$
AC Jitney 74 LLC
NJZIPGR Mays Landing 233,000$
Mohammad Hassan
NJZIPGR Egg Harbor 233,000$
Jay Buchbinder
NJZIPGR Brigantine City 112,500$
Sandra L Young
NJZIPGR Mays Landing 116,500$
Raymond J. Williams
NJZIPGR Bellmawr Borough 112,500$
Jean-Pierre Osias
NJZIPGR Egg Harbor 233,000$
Robert Allen
NJZIPGR Ventnor City 112,500$
David Murillo
NJZIPGR Galloway 233,000$
Claudino Cora
NJZIPGR Atlantic City 233,000$
Constantinos Moumas
NJZIPGR Egg Harbor 225,000$
Edgar Fitzgerald
NJZIPGR Brigantine City 112,500$
Kotoulas, Christos
NJZIPGR Atlantic City 112,500$
Peter Arsenis
NJZIPGR Northfield City 112,500$
Amir Rahman
NJZIPGR Galloway 116,500$
Harun Rashid
NJZIPGR Ventnor City 116,500$
Emmanual Mathioudakis
NJZIPGR Hammonton Town 112,500$
Henry Frankel
NJZIPGR Margate City 112,500$
Abu Faruqui
NJZIPGR Egg Harbor 116,500$
Shaukat Malik
NJZIPGR Galloway 116,500$
Frank Caiozzo
NJZIPGR Little Egg Harbor 225,000$
Mohammed Alam
NJZIPGR Egg Harbor 116,500$
William Bennett
NJZIPGR Northfield City 112,500$
Christopher W Lee
NJZIPGR Atlantic City 116,500$
William J Penman Jr.
NJZIPGR Absecon City 112,500$
Nicholas Tjoumakaris
NJZIPGR Linwood City 225,000$
Thanh K. Hong
NJZIPGR Egg Harbor 116,500$
Omar Bhutta
NJZIPGR Mays Landing 233,000$
T & P Jitney
NJZIPGR Marlton 112,500$
Stephanos Papastephanou
NJZIPGR Ventnor City 225,000$
Hamidul Haque
NJZIPGR Galloway 233,000$
Jeffrey Slosky
NJZIPGR Toms River 112,500$
Ronald Kromenacker
NJZIPGR Galloway 112,500$
Louis Wright Jr.
NJZIPGR Egg Harbor 116,500$
Farid Zaffar
NJZIPGR Egg Harbor 233,000$
Zerin Tanmim
NJZIPGR Absecon City 241,000$
Bruneau Jean
NJZIPGR Egg Harbor 116,500$
AC Jitney 35 LLC
NJZIPGR Galloway 233,000$
Angel Marrero
NJZIPGR Egg Harbor 233,000$
Mohamed A. Syed
NJZIPGR Absecon City 233,000$
Sirajul Islam
NJZIPGR Egg Harbor 233,000$
Nasir Butt
NJZIPGR Egg Harbor 233,000$
Roberto Rodriguez
NJZIPGR Northfield City 116,500$
Abul Ala Hussain
NJZIPGR Egg Harbor 116,500$
Argirios Karavasilis
NJZIPGR Atlantic City 112,500$
MDNezam Khan
NJZIPGR Egg Harbor 112,500$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Salvatore Marsico
NJZIPGR Brigantine City 112,500$
Shawn O'Connor
NJZIPGR Absecon 112,500$
Athanasio Gasis
NJZIPGR Atlantic City 112,500$
Dennis Transportation LLC
NJZIPGR Ventnor City 112,500$
Konstantinos Gasis
NJZIPGR Atlantic City 112,500$
Lamyim Liu
NJZIPGR Egg Harbor 116,500$
Mohammed Islam
NJZIPGR Atlantic City 233,000$
Ahasanul Hasan
NJZIPGR Atlantic City 233,000$
Dennis Fitzgerald
NJZIPGR Absecon 112,500$
Jose Ozoria
NJZIPGR Galloway 116,500$
Tony Kara
NJZIPGR Egg Harbor 225,000$
Muhammad Kaddus
NJZIPGR Ventnor City 116,500$
Robert Weipert
NJZIPGR Galloway 112,500$
Monir Mansour
NJZIPGR Egg Harbor 112,500$
Jitney Transportation LLC
NJZIPGR Medford 112,500$
John F. Walker
NJZIPGR Absecon City 225,000$
Peter Crook
NJZIPGR Mays Landing 112,500$
Malik Ashraf
NJZIPGR Galloway 116,500$
Ahmed Elseaedy
NJZIPGR Egg Harbor 233,000$
Atlantic City Jitney Men's Aid
NJZIPGR Absecon City 337,500$
Strange Trip Trucking, Inc.
NJZIPGR Chatham 1,487,500$
Irevive LLC
NJZIPGR South River Borough 97,750$
Eden Farm Fresh LLC
NJZIPGR South River Borough 101,750$
Nexus Contracting and Restoration Corp.
NJZIPGR Newark City 93,750$
Vet On Wheels, LLC
NJZIPGR Montclair 97,750$
Amigo transit LLC
NJZIPGR Jersey City 191,500$
Kingbee EV Corp
NJZIPGR Roseland Borough 1,125,000$
Wysocki Electric
NJZIPGR Pennsville 187,500$
Acuitive Technologies, Inc.
NOLTT Allendale Borough Bergen 273,700$ 273,700$
Soligenix, Inc.
NOLTT
Princeton Borough
Mercer 1,248,599$ 1,248,599$
Hepion Pharmaceuticals, Inc.
NOLTT Edison Middlesex 3,084,330$ 3,084,
330$
Citius Pharmaceuticals, Inc.
NOLTT Cranford Union 3,834,776$ 3,834,776$
Avertix Medical, Inc
NOLTT
Eatontown Boroug
Monmouth 1,043,533$ -$
Gadget Software, Inc.
NOLTT Hackensack City Bergen 221,945$ -$
Acuitive Technologies, Inc.
NOLTT Allendale Borough Bergen 100,669$ -$
OncoSec Medical Inc.
NOLTT
Pennington Boroug
Mercer 3,569,109$ -$
AIM ImmunoTech, Inc.
NOLTT Riverton Borough Burlington 1,824,062$ -$
Brilliant Light Power, Inc fka Blacklight
Power
NOLTT Cranbury Mercer 911,582$ -$
IoTecha Corp
NOLTT Cranbury Mercer 25,983$ -$
TLC Products, Inc
NOLTT Blackwood Camden 395,387$ -$
Cornerstone Pharmaceuticals, Inc.
NOLTT Newark City Essex 5,353,076$ -$
Hope Portal Services, Inc
NOLTT 0 57,724$ -$
VectraCor, Inc.
NOLTT Totowa Borough Passaic 169,827$ -$
BioAegis Therapeutics, Inc.
NOLTT
North Brunswick To
Middlesex 595,552$ -$
SCYNEXIS, Inc.
NOLTT Jersey City Hudson 5,256,006$ -$
CorMedix Inc.
NOLTT Berkeley Heights Union 626,328$ -$
Ocean Power Technologies, Inc.
NOLTT Monroe Middlesex 431,877$ -$
Bellerophon Therapeutics, Inc.
NOLTT Warren Somerset 2,416,976$ -$
ElectroCore, Inc
NOLTT Rockaway Morris 476,300$ -$
Solidia Technologies, Inc.
NOLTT 0 1,810,496$ -$
Svelte Medical Systems, Inc.
NOLTT
New Providence Bo
Union 458,670$ -$
Agile Therapeutics, Inc.
NOLTT Princeton North Mercer 9,041,187$ -$
Soligenix, Inc.
NOLTT Princeton North Mercer 1,241,865$ -$
Cytosorbents Medical, Inc. (f/k/a
Medasorb Technologies, Inc.)
NOLTT
Monmouth Junctio
Middlesex 796,210$ -$
Matinas BioPharma Holdings, Inc. & Subs
NOLTT Bedminster Somerset 1,854,687$ -$
Provention Bio, Inc.
NOLTT Red Bank Borough Monmouth 7,839,832$ -$
PDS Biotechnology Corporation
NOLTT
Florham Park Boro
Morris 1,285,689$ -$
LISATA THERAPEUTICS, INC.
NOLTT Basking Ridge Somerset 2,479,348$ -$
Celldex Therapeutics, Inc.
NOLTT Hampton Borough Hunterdon 20,073,766$ -$
Imunon, Inc.
NOLTT Lawrenceville Mercer 1,479,621$ -$
The Atlantic City Sewerage Company.
SABBO Atlantic City Atlantic 7,000,000$ 8,100,000$
0
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
NJEDA/NJ Transit Corp. (Portal North
Bridge Project)
SABBO 0 581,115,000$ 600,000,000$
ACE Screen Printing, LLC
SBFLO
Glassboro Borough
Gloucester 170,978$ 198,725$
4
Man Skirt Brewing LLC
SBFLO
Hackettstown Tow
Warren 99,963$ 121,569$
1
Highstep Properties, LLC
SBFLO
Haddon Heights Bo
Camden 227,700$ 255,577$
JERSEY SHORE COMMUNITY CENTER
PROJECT INC.
SBFLO Asbury Park City Monmouth 104,000$ 261,340$
JDJ Pets Inc
SBIMPROVGR Mays Landing Atlantic 7,559$ 15,117$
Learning Edge Academy, Inc.
SBIMPROVGR Absecon Atlantic 50,000$ 112,121$
4340 Fabrication, LLC
SBIMPROVGR Folsom Borough Atlantic 23,294$ 46,587$
Inferreras, Inc.
SBIMPROVGR
Hammonton Town
Atlantic
50,000$ 100,231$
Purdy Mechanical, Inc.
SBIMPROVGR Absecon Atlantic 5,169$ 10,338$
Garmardor Inc
SBIMPROVGR Galloway Atlantic 13,530$ 27,059$
Heather M. Clark, D.M.D., P.C.
SBIMPROVGR Northfield City Atlantic 11,705$ 23,411$
Zen Health and Wellness Center Limited
Liability Company
SBIMPROVGR
Hammonton Town
Atlantic 3,029$ 6,057$
A2K2 LLC
SBIMPROVGR Northfield City Atlantic 22,088$ 44,175$
Inlet Public Private Association, Inc.
SBIMPROVGR Atlantic City Atlantic 8,314$ 16,628$
Shirley Grasso LLC
SBIMPROVGR
Hammonton Town
Atlantic 6,323$ 12,646$
Dougherty RB, LLC
SBIMPROVGR Atlantic City Atlantic 50,000$ 965,717$
Geller Brewing LLC
SBIMPROVGR
Hammonton Town
Atlantic
24,912$ 49,824$
GANTER DISTILLERS LIMITED LIABILITY
COMPANY
SBIMPROVGR Atlantic City Atlantic 18,999$ 37,998$
Network Construction Co., Inc.
SBIMPROVGR Pleasantville City Atlantic 14,321$ 28,642$
North Beach Mini Golf LLC
SBIMPROVGR Atlantic City Atlantic 50,000$ 194,658$
Kies Motorsports LLC
SBIMPROVGR
Hammonton Town
Atlantic 31,979$ 63,959$
shop162inc.
SBIMPROVGR Pleasantville City Atlantic 2,800$ 5,599$
SCOTT L BROWN
SBIMPROVGR
Hammonton Town
Atlantic 15,960$ 31,920$
White Horse Winery LLC
SBIMPROVGR
Hammonton Town
Atlantic 23,475$ 46,950$
LISA YANOSCHAK LLC
SBIMPROVGR
Hammonton Town
Atlantic 9,488$ 18,976$
Niclex Industries LLC
SBIMPROVGR Egg Harbor Atlantic 25,179$ 50,359$
INDEPENDENCE FINANCIAL SERVICES LLC
SBIMPROVGR Northfield City Atlantic 4,470$ 8,940$
AG Psychotherapy and Counseling Services
LLC
SBIMPROVGR Paramus Borough Bergen 3,253$ 6,507$
Krishi LLC
SBIMPROVGR
Maywood Borough
Bergen 50,000$ 101,647$
Arya Realty Holdings LLC
SBIMPROVGR
Maywood Borough
Bergen 50,000$ 104,937$
SK Design Concepts Limited Liability
Company
SBIMPROVGR Ramsey Borough Bergen 34,333$ 68,666$
EY GROUP LLC
SBIMPROVGR
Englewood Cliffs B
Bergen 7,712$ 15,424$
K-CHICKEN ENTERPRISE LLC
SBIMPROVGR
Fair Lawn Borough
Bergen
23,636$ 47,272$
Santas Dominican Beauty Salon LLC
SBIMPROVGR Hackensack City Bergen 28,045$ 56,089$
Ruga Restaurant LLC
SBIMPROVGR Oakland Borough Bergen 12,969$ 25,938$
Hana Healthcare, P.C.
SBIMPROVGR Englewood City Bergen 11,758$ 23,516$
Endodontic Associates of Bergen County
Limited Liability Company
SBIMPROVGR Paramus Borough Bergen 43,964$ 87,927$
DICK MARTIN SPORTS INC
SBIMPROVGR Carlstadt Borough Bergen 23,655$ 47,310$
J&J TIRES AND WHEELS LIMITED LIABILITY
COMPANY
SBIMPROVGR
Little Ferry Boroug
Bergen 7,113$ 14,226$
Amayar Kitchen LLC
SBIMPROVGR
Maywood Borough
Bergen 42,863$ 85,727$
Peppercorn Events LLC
SBIMPROVGR River Vale Bergen 50,000$ 115,878$
EK dental service agency llc
SBIMPROVGR
Palisades Park Boro
Bergen 10,710$ 21,420$
UNITED COLLISION LLC
SBIMPROVGR
Fair Lawn Borough
Bergen 9,093$ 18,186$
Solène Inc
SBIMPROVGR Teaneck Bergen 24,943$ 49,885$
TBT Fitness Studios LLC
SBIMPROVGR Fort Lee Borough Bergen 44,546$ 89,091$
Park Academy LLC
SBIMPROVGR
Rutherford Boroug
Bergen 32,571$ 65,141$
Family Touch Inc
SBIMPROVGR
Little Ferry Boroug
Bergen 24,150$ 48,300$
Bubbles and Cream LLC
SBIMPROVGR
Rutherford Boroug
Bergen 11,553$ 23,105$
Erica Donuts II, Inc.
SBIMPROVGR Closter Borough Bergen 49,822$ 99,645$
ERICA DONUTS I, INC.
SBIMPROVGR
Washington Towns
Bergen
50,000$ 122,951$
Erica Donuts III, Inc.
SBIMPROVGR
Waldwick Borough
Bergen 22,996$ 45,991$
Uncle Jimmy's Cheesecakes LLC
SBIMPROVGR Fairview Borough Bergen 3,399$ 6,798$
H VAK Mechanical Corp.
SBIMPROVGR Hackensack City Bergen 24,584$ 49,168$
Clemente Orthodontics of Woodcliff Lake
LLC.
SBIMPROVGR
Woodcliff Lake Bor
Bergen 50,000$ 200,000$
Teaneck Speedway LLC
SBIMPROVGR Teaneck Bergen 27,101$ 54,201$
N&R. DIVINE CLEANING SERVICES LLC
SBIMPROVGR Hackensack City Bergen 4,023$ 8,045$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
The Law Office of Joseph A. DiPiazza, LLC
SBIMPROVGR River Vale Bergen 3,821$ 7,642$
Susan A. Zelig, RDMS INC.
SBIMPROVGR
New Milford Borou
Bergen 6,750$ 13,500$
Teaneck Dentist LLC
SBIMPROVGR Teaneck Bergen 50,000$ 154,774$
Guerrilla Fitness III LLC
SBIMPROVGR Paramus Borough Bergen 14,063$ 28,127$
Auto Sumser, Inc.
SBIMPROVGR
Fair Lawn Borough
Bergen 9,480$ 18,959$
Boys & Girls Clubs of Lower Bergen County
SBIMPROVGR Lodi Borough Bergen 50,000$ 101,571$
Laser Dentistry of North Jersey, LLC
SBIMPROVGR Oakland Borough Bergen 50,000$ 158,635$
Marge Perry Inc
SBIMPROVGR Cresskill Borough Bergen 16,192$ 32,384$
NORU & RABBIT CORP
SBIMPROVGR
Palisades Park Boro
Bergen 9,040$ 18,080$
LITTLE CRANE MONTESSORI SCHOOL
SBIMPROVGR Ridgewood Village Bergen 4,064$ 8,128$
JAMES D.J. SUH, CPA LIMITED LIABILITY
COMPANY
SBIMPROVGR
Englewood Cliffs B
Bergen 2,937$ 5,874$
Ruth Stage Inc
SBIMPROVGR Fort Lee Borough Bergen 2,532$ 5,065$
HANA MUSIC LLC
SBIMPROVGR
Palisades Park Boro
Bergen 19,193$ 38,385$
Pro Auto Repair Inc
SBIMPROVGR Hackensack City Bergen 50,000$ 104,334$
Center for Dermatology & Skin Surgery LLC
SBIMPROVGR Paramus Borough Bergen 25,314$ 50,629$
PAMM Cleaners LLC
SBIMPROVGR Ridgewood Village Bergen 9,325$ 18,650$
735 Cedar Lane Laundry Inc
SBIMPROVGR Teaneck Bergen 24,616$ 49,232$
FANCY AVE LLC
SBIMPROVGR
Palisades Park Boro
Bergen
14,787$ 28,338$
International Auto Tech INC
SBIMPROVGR
Edgewater Boroug
Bergen
10,334$ 20,669$
E'NOM LLC
SBIMPROVGR
Englewood Cliffs B
Bergen
19,604$ 20,038$
Giovatto Advertising, Inc.
SBIMPROVGR Paramus Borough Bergen 32,622$ 65,244$
Jonathan H Feder DMD PC
SBIMPROVGR
North Arlington Bo
Bergen 50,000$ 101,048$
I & C Cycle LLC
SBIMPROVGR
Montvale Borough
Bergen 8,358$ 16,716$
CAFE METRO LLC
SBIMPROVGR Teaneck Bergen 22,881$ 44,780$
NEW SPACE DESIGN LLC
SBIMPROVGR
Palisades Park Boro
Bergen 7,125$ 14,250$
Aesthetics by Ildy LLC
SBIMPROVGR Paramus Borough Bergen 7,888$ 15,777$
BDinelli for Hair LLC
SBIMPROVGR Teaneck Bergen 16,390$ 32,781$
M & J POINT CORPORATION
SBIMPROVGR Lodi Borough Bergen 4,524$ 9,048$
JONG TAEG LEE
SBIMPROVGR
Englewood Cliffs B
Bergen
9,354$ 18,708$
US Standard Products Corp
SBIMPROVGR Englewood City Bergen 50,000$ 120,139$
jon/son, inc
SBIMPROVGR Teaneck Bergen 50,000$ 117,477$
VALJI LLC
SBIMPROVGR River Vale Bergen 24,907$ 49,813$
Saker OMS, PA
SBIMPROVGR
Glen Rock Borough
Bergen 50,000$ 154,600$
Barre-ista Inc
SBIMPROVGR
Franklin Lakes Boro
Bergen 50,000$ 224,965$
ERIC T. LINDEN, D.M.D., M.S.D., P.C.
SBIMPROVGR
Woodcliff Lake Bor
Bergen 3,745$ 7,490$
DDX USA Inc
SBIMPROVGR Fort Lee Borough Bergen 21,660$ 43,320$
SHOCK TECH, INC.
SBIMPROVGR Mahwah Bergen 50,000$ 103,405$
O. DiBella Music, Inc
SBIMPROVGR
Bergenfield Boroug
Bergen 8,440$ 16,881$
Stretch Recovery Lounge LLC
SBIMPROVGR Ridgewood Village Bergen 13,909$ 27,818$
Sang Yun Ro DDS PC
SBIMPROVGR
Old Tappan Boroug
Bergen 9,199$ 18,398$
Rise Up Together LLC
SBIMPROVGR
Westwood Boroug
Bergen 16,022$ 32,044$
Gio Photography and Design Inc
SBIMPROVGR Leonia Borough Bergen 2,580$ 5,160$
WWD Fondue Inc
SBIMPROVGR
Westwood Boroug
Bergen 31,248$ 62,496$
KOSHER NOSH
SBIMPROVGR
Glen Rock Borough
Bergen 13,293$ 26,585$
NL ACCOUNTING CORP
SBIMPROVGR
River Edge Borough
Bergen 6,907$ 13,813$
Joseph M. Lane Post 136 American Legion
Lodi INC.
SBIMPROVGR Lodi Borough Bergen 5,631$ 11,262$
Hirox-USA, Inc.
SBIMPROVGR Hackensack City Bergen 6,623$ 13,247$
Brix City Brewing, LLC
SBIMPROVGR
Little Ferry Boroug
Bergen 37,119$ 74,238$
SAIGON KITCHEN LLC
SBIMPROVGR Fort Lee Borough Bergen 10,376$ 20,752$
Space Odyssey Group LLC
SBIMPROVGR Englewood City Bergen 20,109$ 40,219$
Sprinkles & Cones LLC
SBIMPROVGR Emerson Borough Bergen 24,861$ 49,723$
42 Clinton Place Associates LLC
SBIMPROVGR Hackensack City Bergen 23,786$ 47,573$
Alexander anderson real estate group, inc
SBIMPROVGR Hackensack City Bergen 24,674$ 49,723$
DELICE GLOBAL INC
SBIMPROVGR
Palisades Park Boro
Bergen
50,000$ 103,140$
Decision Drivers L.L.C.
SBIMPROVGR
Montvale Borough
Bergen 30,000$ 60,000$
DELICE USA INC
SBIMPROVGR
Palisades Park Boro
Bergen 50,000$ 105,390$
Environmental Investigations Group LLC
SBIMPROVGR
Woodcliff Lake Bor
Bergen 11,486$ 22,971$
Z3 Fitness Reinvented LLC
SBIMPROVGR Wyckoff Bergen 12,800$ 25,600$
Red White & Pasta LLC
SBIMPROVGR Englewood City Bergen 24,630$ 49,261$
Dream Dessert of New Jersey Inc.
SBIMPROVGR Paramus Borough Bergen 41,345$ 82,691$
ANNA SHIN DDS INC
SBIMPROVGR Fort Lee Borough Bergen 7,599$ 15,198$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Bonchon America Inc
SBIMPROVGR
Midland Park Boro
Bergen 10,500$ 21,000$
Midland Park NK Cleaners LLC
SBIMPROVGR
Midland Park Boro
Bergen 11,995$ 23,990$
Mplus Creative Production & Media Corp
SBIMPROVGR Fort Lee Borough Bergen 19,634$ 39,267$
Anthony Passerino CPA
SBIMPROVGR Ridgewood Village Bergen 3,528$ 7,055$
Nkisoy Yoga LLC
SBIMPROVGR Fort Lee Borough Bergen 3,289$ 6,577$
LRF Investments LLC
SBIMPROVGR Paramus Borough Bergen 13,326$ 26,653$
AACG 235 Main LLC
SBIMPROVGR Hackensack City Bergen 17,209$ 34,417$
Diamond 5 Math Tutoring LLC
SBIMPROVGR Teaneck Bergen 5,578$ 11,155$
BF Dental Professionals PC
SBIMPROVGR Teaneck Bergen 15,652$ 31,305$
Kaplan, Plavin & Steinhardt, LLP
SBIMPROVGR
Park Ridge Borough
Bergen
32,674$ 65,347$
Premium Wine Liquor LLC
SBIMPROVGR Lodi Borough Bergen 7,521$ 15,042$
Lakou Events LLC
SBIMPROVGR Mount Laurel Burlington 23,288$ 46,575$
PICK UP FROM JESSIE HAIR STUDIO BY
CANIYA, LLC
SBIMPROVGR Mount Laurel Burlington 4,977$ 9,954$
Bordentown Dental Arts LLC
SBIMPROVGR Bordentown Burlington 13,416$ 26,832$
Health Goals Chiropractic Center, Inc.
SBIMPROVGR Marlton Burlington 50,000$ 105,027$
Tooth Patrol LLC
SBIMPROVGR Moorestown Burlington 23,324$ 46,648$
Train Wreck Distillery L.L.C.
SBIMPROVGR Mount Holly Burlington 18,079$ 36,158$
AFL Restaurants LLC
SBIMPROVGR
Moorestown-lenol
Burlington 20,450$ 40,900$
I AM UNIQUE A SELF RESTORATION
WORKSHOP A NJ NONPROFIT
CORPORATION
SBIMPROVGR Burlington Burlington 3,319$ 6,638$
Bado Brewing LLC
SBIMPROVGR Marlton Burlington 47,852$ 95,703$
Jersey Marketing Inc
SBIMPROVGR Burlington Burlington 18,553$ 37,106$
Springfield Family Chiropractic, PA
SBIMPROVGR Springfield Burlington 17,538$ 35,076$
Silver Dental Associates, LLC
SBIMPROVGR Burlington Burlington 50,000$ 109,245$
All Things Are Possible Foundation
Incorporated
SBIMPROVGR Willingboro Burlington 49,265$ 98,531$
Gaur Lila LLC
SBIMPROVGR Westampton Burlington 50,000$ 307,236$
Joyce G. Parker & Co., Inc
SBIMPROVGR Bordentown City Burlington 33,504$ 66,752$
Ryde Spin and Fitness LLC
SBIMPROVGR Burlington Burlington 14,882$ 29,763$
Renaissance M&G Corporation
SBIMPROVGR Blackwood Camden 50,000$ 177,000$
House of Beauty The Next Level
Multicultural Salon LLC
SBIMPROVGR
Somerdale Boroug
Camden 16,406$ 32,812$
LASH DIGGS LLC
SBIMPROVGR
Pennsauken Towns
Camden 4,864$ 9,729$
Grey Squirrel Digital, LLC
SBIMPROVGR Berlin Camden 17,371$ 34,742$
Paddock Partners LLC
SBIMPROVGR Cherry Hill Camden 7,560$ 15,119$
Wells Appel, Inc.
SBIMPROVGR
Haddonfield Borou
Camden 15,675$ 31,350$
Belliard's Hair Design Studio & Spa Inc.
SBIMPROVGR Cherry Hill Camden 39,139$ 78,277$
Dr. Charles J Ricciardi DDS
SBIMPROVGR Cherry Hill Camden 16,087$ 32,174$
TKMZ LLC
SBIMPROVGR Cherry Hill Camden 9,596$ 19,191$
Visionary Entertainment LLC
SBIMPROVGR Camden City Camden 12,500$ 25,000$
Wyatt's Torch Inc.
SBIMPROVGR Camden City Camden 50,000$ 115,098$
Collingswood Architectural Millwork, Inc.
SBIMPROVGR
Collingswood Boro
Camden 32,208$ 64,415$
TPAM Inc
SBIMPROVGR
Barrington Boroug
Camden 48,505$ 97,009$
Patriot Car Wash of Gloucester City LLC
SBIMPROVGR Gloucester City Camden 34,951$ 69,902$
Agatsu Dojos LLC
SBIMPROVGR
Laurel Springs Boro
Camden 13,891$ 27,781$
Four Hundred And One Spirits, LLC
SBIMPROVGR Oaklyn Borough Camden 14,987$ 29,974$
Robert and Dorothy Earle, Inc.
SBIMPROVGR Blackwood Camden 45,340$ 90,679$
Forgotten Boardwalk Brewing LLC
SBIMPROVGR Cherry Hill Camden 9,274$ 18,548$
MRFG CHILL LLC
SBIMPROVGR Cherry Hill Camden 50,000$ 183,707$
WE ARE LEGENDS LLP
SBIMPROVGR Blackwood Camden 3,250$ 6,500$
A. Rowan Photo LLC
SBIMPROVGR
Merchantville Boro
Camden 50,000$ 111,000$
Tonewood Brewing, LLC
SBIMPROVGR
Barrington Boroug
Camden 50,000$ 178,900$
Puff Wealth Management LLC
SBIMPROVGR
Haddonfield Borou
Camden 35,922$ 71,844$
VASUDEV LIQUORS TWO INC
SBIMPROVGR Camden City Camden 8,049$ 16,098$
CASEY,THOMAS
SBIMPROVGR
Haddonfield Borou
Camden
17,312$ 34,624$
SISTERS SPOT LLC
SBIMPROVGR
Pennsauken Towns
Camden 14,123$ 28,244$
Ink About It, LLC
SBIMPROVGR Turnersville Camden 7,298$ 14,569$
Clementon Groceries International LLC
SBIMPROVGR
Lindenwold Boroug
Camden 11,825$ 23,649$
Valenzano and Friends LLC
SBIMPROVGR Waterford Camden 13,102$ 26,204$
Wink Lash & Nails LLC
SBIMPROVGR
Haddon Heights Bo
Camden 3,162$ 6,325$
Gusmo, LLC
SBIMPROVGR
Clementon Boroug
Camden 26,615$ 53,231$
Range Life LLC
SBIMPROVGR
Haddonfield Borou
Camden 11,011$ 21,703$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
McMullan Family LLC
SBIMPROVGR
North Wildwood C
Cape May 30,725$ 61,428$
Cape May County Chamber of Commerce
SBIMPROVGR
Cape May Court Ho
Cape May 50,000$ 474,166$
PLYMOUTH INN, INC.
SBIMPROVGR Ocean City Cape May 8,829$ 16,294$
Kavitha Battula DMD LLC
SBIMPROVGR Sea Isle City Cape May 23,377$ 46,754$
KAPA Inc
SBIMPROVGR
North Wildwood C
Cape May 37,235$ 74,471$
Chalfonte Partners, Inc.
SBIMPROVGR Cape May City Cape May 50,000$ 132,928$
Wilbraham Partnership
SBIMPROVGR
West Cape May Bo
Cape May
24,665$ 49,329$
Admiral Resort, Inc
SBIMPROVGR
Wildwood Crest Bo
Cape May 50,000$ 125,433$
Youschak Properties LLC
SBIMPROVGR
North Wildwood C
Cape May 50,000$ 112,459$
Dock Mikes Inc
SBIMPROVGR Cape May City Cape May 50,000$ 105,611$
Luther Ogden Inn, LLC
SBIMPROVGR Cape May City Cape May 13,504$ 27,008$
Cheryl Ward CPA PC
SBIMPROVGR Marmora Cape May 50,000$ 101,548$
COHO BREWING LLC
SBIMPROVGR
Cape May Court Ho
Cape May 12,808$ 25,615$
South Jersey Pediatric Dental LLC
SBIMPROVGR Vineland City Cumberland 50,000$ 123,016$
Chank's USA LLC
SBIMPROVGR Bridgeton City Cumberland 50,000$ 146,015$
ABCO Insurance Agency, Inc.
SBIMPROVGR Vineland City Cumberland 11,642$ 23,284$
Parrish Sign Co., Inc.
SBIMPROVGR Vineland City Cumberland 50,000$ 104,915$
Natural Neighborhood Industries LLC
SBIMPROVGR Newark City Essex 7,458$ 14,915$
61 New Street LLC
SBIMPROVGR Newark City Essex 6,950$ 13,900$
Bongiorno Productions Inc.
SBIMPROVGR Newark City Essex 3,223$ 6,447$
LAWRENCE CALABRO, C.P.A., P.C.
SBIMPROVGR Nutley Essex 14,545$ 29,090$
PMA Development NJ, LLC
SBIMPROVGR Livingston Essex 34,987$ 69,973$
Bhakti Barn Yoga, LLC
SBIMPROVGR Millburn Essex 17,799$ 35,598$
Modat Productions LLC
SBIMPROVGR Montclair Essex 17,478$ 34,956$
BRWL Studio LLC
SBIMPROVGR Orange Essex 23,419$ 46,838$
Bailey Li Interiors LLC
SBIMPROVGR Orange Essex 19,908$ 39,817$
MICHRINIK TECHNOLOGIES LIMITED
LIABILITY COMPANY
SBIMPROVGR Newark City Essex 21,375$ 42,750$
Up & Up, Inc.
SBIMPROVGR South Orange Essex 5,875$ 11,750$
JONES, LAURIE
SBIMPROVGR Fairfield Essex 17,030$ 34,061$
Arthur C. Tutela, II, MD, PA
SBIMPROVGR West Orange Essex 7,538$ 15,076$
The Cutting Board Limited Liability
Company
SBIMPROVGR Fairfield Essex 8,553$ 17,107$
Qava LLC
SBIMPROVGR Newark City Essex 23,750$ 47,500$
Salonsi LLC
SBIMPROVGR Nutley Essex 39,256$ 78,512$
PARKWAY EYE CARE CENTER, LLC
SBIMPROVGR Irvington Essex 35,452$ 70,905$
Springbone Millburn LLC
SBIMPROVGR Millburn Essex 50,000$ 155,810$
Maplewood Business Services
SBIMPROVGR Maplewood Essex 15,500$ 31,000$
W. B. LAW & SON
SBIMPROVGR Newark City Essex 50,000$ 126,645$
Hasan Chung DDS P.A.
SBIMPROVGR Millburn Essex 50,000$ 120,350$
DC FITNESS LLC
SBIMPROVGR Montclair Essex 8,657$ 17,562$
Edward B. De Leo Co., Inc.
SBIMPROVGR Fairfield Essex 13,342$ 26,684$
The LAB Performance & Sports Science
LLC.
SBIMPROVGR Fairfield Essex 17,763$ 35,527$
Proven Poke Co Montclair LLC
SBIMPROVGR Montclair Essex 6,814$ 13,628$
FOOTNOTES, INC.
SBIMPROVGR Millburn Essex 4,450$ 8,900$
Dowco inc
SBIMPROVGR Newark City Essex 15,679$ 31,357$
PHASE Associates, LLC
SBIMPROVGR Livingston Essex 15,692$ 31,385$
Bab Liquor, LLC
SBIMPROVGR Newark City Essex 44,224$ 88,448$
Exceptional Explorers LLC
SBIMPROVGR Livingston Essex 45,458$ 90,915$
Yeh Dental LLC
SBIMPROVGR Bloomfield Essex 50,000$ 111,468$
East Side Mags Limited Liability Company
SBIMPROVGR Montclair Essex 9,795$ 19,590$
Premier Fitness Holdings, LLC
SBIMPROVGR Millburn Essex 50,000$ 108,239$
ROYAL BAGEL 1 INC
SBIMPROVGR Montclair Essex 35,400$ 70,800$
Crossover Solutions LLC
SBIMPROVGR South Orange Essex 23,682$ 47,364$
Ride It Cycling LLC
SBIMPROVGR Montclair Essex 18,716$ 37,433$
Northern Rock, LLC.
SBIMPROVGR Fairfield Essex 50,000$ 68,970$
NJ Tae Kwon Do Chung Do Kwan Limited
Liability Company
SBIMPROVGR South Orange Essex 17,104$ 34,208$
Sports Information Media LLC
SBIMPROVGR Millburn Essex 4,001$ 8,003$
Lash District LLC
SBIMPROVGR West Orange Essex 8,214$ 16,427$
Durden, Lisa
SBIMPROVGR Newark City Essex 5,101$ 10,202$
Highland Nail & Spa LLC
SBIMPROVGR Newark City Essex 10,396$ 20,792$
The Presidents Club Barber Shop LLC
SBIMPROVGR Millburn Essex 25,277$ 50,554$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
The Crowned Lion LLC
SBIMPROVGR Newark City Essex 23,719$ 47,438$
Diber Web Services Llc
SBIMPROVGR Newark City Essex 7,883$ 15,776$
Rocky's Crystals and Minerals Limited
Liability Company
SBIMPROVGR South Orange Essex 13,045$ 26,090$
Broad and Maple
SBIMPROVGR Gibbstown Gloucester 50,000$ 145,597$
Death of the Fox Brewing Company
SBIMPROVGR East Greenwich Gloucester 22,010$ 44,021$
Cabinet Transformations LLC
SBIMPROVGR Sewell Gloucester 3,501$ 7,001$
Morris Graphics Inc.
SBIMPROVGR Woodbury City Gloucester 15,530$ 31,060$
Rossiter Holdings LLC
SBIMPROVGR
National Park Boro
Gloucester 39,724$ 79,448$
THE CULTURAL COLLECTIVE L.L.C.
SBIMPROVGR Woodbury City Gloucester 5,000$ 10,000$
Gattso LLC
SBIMPROVGR
Wenonah Borough
Gloucester
9,910$ 19,820$
Auto Shine Express, LLC
SBIMPROVGR
Paulsboro Borough
Gloucester 50,000$ 190,271$
Boho House LLC
SBIMPROVGR Pitman Borough Gloucester 34,257$ 68,513$
Axe & Arrow Brewing LLC
SBIMPROVGR
Glassboro Borough
Gloucester 50,000$ 100,570$
Wagonhouse Winery, LLC
SBIMPROVGR South Harrison Gloucester 18,535$ 37,071$
Waterline Glassboro LLC
SBIMPROVGR
Glassboro Borough
Gloucester 50,000$ 145,496$
Strategic Tax Advice, LLC
SBIMPROVGR
Glassboro Borough
Gloucester 2,896$ 5,791$
SNR NAIL SPA INC
SBIMPROVGR Kearny Town Hudson 15,795$ 31,590$
JERSEY DENTAL ARTS PA
SBIMPROVGR Jersey City Hudson 15,869$ 31,738$
74 LAFAYETTE INC.
SBIMPROVGR Jersey City Hudson 19,918$ 39,835$
Jane DO Hoboken Corp.
SBIMPROVGR Hoboken City Hudson 13,698$ 27,397$
VIGNAGA FOODS LLC
SBIMPROVGR Jersey City Hudson 35,138$ 70,275$
STACK CREAMERY 2 LLC
SBIMPROVGR Jersey City Hudson 50,000$ 115,134$
Torta Truck LLC
SBIMPROVGR Jersey City Hudson 21,594$ 43,188$
Tinos Artisan Pizza of JC Inc
SBIMPROVGR Jersey City Hudson 38,567$ 77,133$
HAMILTON PARK MONTESSORI SCHOOL, A
NEW JERSEY NON-PROFIT CORPORATION
SBIMPROVGR Jersey City Hudson 44,953$ 89,905$
ARMAN DENTAL PC
SBIMPROVGR Union City Hudson 36,706$ 73,411$
Dang,Ha H
SBIMPROVGR Jersey City Hudson 3,162$ 6,324$
Lisch & Lisch LLC
SBIMPROVGR Jersey City Hudson 3,453$ 6,906$
Michael Frinzi Productions, L.L.C.
SBIMPROVGR Hoboken City Hudson 12,095$ 24,191$
HAI CAO
SBIMPROVGR Bayonne City Hudson 4,594$ 9,187$
OM VITHTHAL LLC
SBIMPROVGR North Bergen Hudson 43,473$ 86,947$
JLM Collective LLC
SBIMPROVGR Jersey City Hudson 16,337$ 32,673$
Rujack, Inc.
SBIMPROVGR Kearny Town Hudson 16,977$ 33,954$
Appleview Early Learning Center II, LLC
SBIMPROVGR Guttenberg Town Hudson 50,000$ 176,159$
Decor by Liz llc
SBIMPROVGR Bayonne City Hudson 24,337$ 48,674$
French Cafe Gourmand Corp
SBIMPROVGR Jersey City Hudson 8,369$ 16,739$
Panello Limited Liability Company
SBIMPROVGR Hoboken City Hudson 3,048$ 6,095$
NG Trade LLC
SBIMPROVGR Jersey City Hudson 21,113$ 42,225$
International Communication Solutions,
Inc.
SBIMPROVGR Union City Hudson 21,244$ 42,487$
Amicis Food Services Inc
SBIMPROVGR Bayonne City Hudson 4,750$ 9,500$
M&W Liquors Inc.
SBIMPROVGR Guttenberg Town Hudson 7,140$ 14,280$
IT CLEANERS INC.
SBIMPROVGR Union City Hudson 29,639$ 59,278$
Chic Massage LLC
SBIMPROVGR North Bergen Hudson 12,369$ 24,738$
Saigon Bistro JC LLC
SBIMPROVGR Jersey City Hudson 5,651$ 11,303$
SANON GLOBAL LLC
SBIMPROVGR Jersey City Hudson 22,966$ 45,933$
Tearsheet llc
SBIMPROVGR Hoboken City Hudson 16,113$ 32,225$
Jane DO Jersey City
SBIMPROVGR Jersey City Hudson 28,228$ 56,460$
XMG Inc
SBIMPROVGR Secaucus Town Hudson 4,709$ 9,419$
Reino Magico Child Care Center LLC
SBIMPROVGR Union City Hudson 30,588$ 159,010$
New Life Dream Academy A NJ Nonprofit
Corporation
SBIMPROVGR Jersey City Hudson 19,641$ 39,281$
L & S PLASTICS INC.
SBIMPROVGR Bayonne City Hudson 50,000$ 100,000$
Pilgrim Foods LLC
SBIMPROVGR Jersey City Hudson 21,015$ 42,029$
DA VINCI FILMS LIMITED LIABILITY
COMPANY
SBIMPROVGR Union City Hudson 4,346$ 8,692$
Jersey City Dental Care LLC
SBIMPROVGR Jersey City Hudson 9,100$ 18,200$
Limitless Leaf LLC
SBIMPROVGR Hoboken City Hudson 9,377$ 18,753$
Arnold Travel & Tours LLC.
SBIMPROVGR North Bergen Hudson 23,452$ 46,904$
Caven Point Service Center, Inc
SBIMPROVGR Jersey City Hudson 26,598$ 53,196$
Celebrate Life at Home LLC
SBIMPROVGR Hoboken City Hudson 9,275$ 17,000$
Dental Comfort Associates, LLC
SBIMPROVGR Kearny Town Hudson 2,821$ 5,641$
John Nastasi Architects PC
SBIMPROVGR Hoboken City Hudson 6,420$ 12,841$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
JERSEY NORTH LLC
SBIMPROVGR Jersey City Hudson 13,965$ 27,930$
Mint Market LLC
SBIMPROVGR Jersey City Hudson 6,417$ 12,834$
Hudackos Pharmacy Inc
SBIMPROVGR Bayonne City Hudson 17,176$ 34,352$
NEW STANLEY CLEANERS INC
SBIMPROVGR Lambertville City Hunterdon 13,000$ 26,000$
JSK taekwondo Inc
SBIMPROVGR
Flemington Boroug
Hunterdon 4,016$ 8,031$
Meet the Nortons Portrait Photography
LLC
SBIMPROVGR
Flemington Boroug
Hunterdon 15,316$ 30,633$
LibbyBeans LLC
SBIMPROVGR Milford Borough Hunterdon 13,402$ 26,804$
Curtain Up Productions
SBIMPROVGR Lambertville City Hunterdon 6,805$ 13,609$
Black Lab Imaging LLC
SBIMPROVGR
Flemington Boroug
Hunterdon 13,577$ 27,154$
Odd Bird Brewing LLC
SBIMPROVGR Stockton Borough Hunterdon 9,456$ 18,912$
ISACAL, LLC
SBIMPROVGR
Flemington Boroug
Hunterdon 23,080$ 46,160$
Sidirounda LLC
SBIMPROVGR Clinton Town Hunterdon 21,144$ 42,288$
BANC 3, INC.
SBIMPROVGR
Princeton Junction
Mercer 50,000$ 100,569$
Kutz & Stylez LLC
SBIMPROVGR Trenton City Mercer 4,991$ 9,981$
Forge Performance Limited Liability
Company
SBIMPROVGR West Windsor Mercer 13,195$ 26,390$
The Learning Center TLC LLC
SBIMPROVGR Lawrenceville Mercer 29,497$ 58,994$
MIA Fitness LLC
SBIMPROVGR Lawrenceville Mercer 11,206$ 22,412$
Bijou Salon, LLC
SBIMPROVGR Robbinsville Mercer 36,341$ 72,682$
Grounds For Sculpture, Inc.
SBIMPROVGR Hamilton Mercer 48,626$ 97,252$
Bamboo Shoots LLC
SBIMPROVGR
Princeton Borough
Mercer
2,880$ 5,760$
ENTERPRISE SOLUTIONS ACCOUNTING
LIMITED LIABILITY COMPANY
SBIMPROVGR Hamilton Mercer 20,226$ 40,451$
The Glow Room LLC
SBIMPROVGR Ewing Mercer 4,016$ 8,032$
Kmiec Enterprises LLC
SBIMPROVGR Trenton City Mercer 8,792$ 17,583$
Limitless Behavioral Services and
Consulting LLC
SBIMPROVGR Hamilton Mercer 7,539$ 15,078$
Kuser Family Dental LLC
SBIMPROVGR Hamilton Mercer 50,000$ 115,037$
Princeton Senior Resource Center
SBIMPROVGR
Princeton Borough
Mercer 21,372$ 43,070$
Stephen Furs, L.L.C.
SBIMPROVGR Lawrenceville Mercer 18,611$ 37,222$
Rainbow Academy
SBIMPROVGR Hamilton Mercer 12,576$ 25,152$
COMMUNITY ACTION SERVICE CENTER INC
SBIMPROVGR
Hightstown Boroug
Mercer 48,505$ 97,010$
Hera Nail LLC
SBIMPROVGR Hamilton Mercer 7,500$ 15,000$
Pixie Salon LLC
SBIMPROVGR
Pennington Boroug
Mercer 16,156$ 32,312$
Capital Title Agency, Inc.
SBIMPROVGR Hamilton Mercer 13,951$ 27,902$
Smart Stitch LLC
SBIMPROVGR Ewing Mercer 36,204$ 72,408$
Apart, Together in Motion LLC
SBIMPROVGR
Princeton Borough
Mercer 14,860$ 29,721$
GEOGREENS LLC
SBIMPROVGR Hamilton Mercer 16,065$ 32,130$
Hamilton Square Dental LLC.
SBIMPROVGR Hamilton Mercer 39,248$ 78,495$
JACSEK Enterprises Inc.
SBIMPROVGR Mercerville Mercer 50,000$ 135,859$
PRINCETON AIR CONDITIONING, INC
SBIMPROVGR
Princeton Junction
Mercer 8,174$ 16,348$
GMC Precision Machine LLC
SBIMPROVGR Cranbury Mercer 10,692$ 21,384$
NAMI Mercer NJ, Inc.
SBIMPROVGR Hamilton Mercer 7,210$ 14,421$
Jewish Family and Vocational Service of
Middlesex County, Inc
SBIMPROVGR
North Brunswick To
Middlesex 14,861$ 29,713$
ABC Family Smiles LLC
SBIMPROVGR Perth Amboy City Middlesex 50,000$ 100,042$
SICSIN 360 INC.
SBIMPROVGR
North Brunswick To
Middlesex 16,000$ 32,000$
South Amboy Kitchen LLC
SBIMPROVGR South Amboy City Middlesex 50,000$ 115,129$
Sunshine Hill Academy, LLC
SBIMPROVGR Old Bridge Middlesex 5,759$ 11,518$
Math Logic, LLC
SBIMPROVGR Edison Middlesex 21,618$ 43,235$
Bakery & Life Style Inc
SBIMPROVGR Edison Middlesex 7,989$ 15,977$
Tots & Blocks School LLC
SBIMPROVGR Old Bridge Middlesex 7,825$ 15,650$
Monroe Dental Group LLC
SBIMPROVGR Monroe Middlesex 18,381$ 36,761$
Concordia Nails Limited Liability Company
SBIMPROVGR Monroe Middlesex 8,634$ 17,268$
BioAegis Therapeutics Inc.
SBIMPROVGR
North Brunswick To
Middlesex 34,577$ 67,754$
Aleah Multi Services Center LLC
SBIMPROVGR Perth Amboy City Middlesex 8,070$ 16,139$
LAS VICTORIAS LLC
SBIMPROVGR Carteret Borough Middlesex 13,804$ 27,608$
Design Ideas Group Architecture and
Planning, LLC
SBIMPROVGR
New Brunswick Cit
Middlesex 44,783$ 89,566$
AC Dental NJ, P.C.
SBIMPROVGR East Brunswick Middlesex 3,672$ 7,344$
Redline Speed Worx, LLP
SBIMPROVGR Green Brook Middlesex 16,965$ 33,929$
Mount Sinai Professional Services, LLC
SBIMPROVGR East Brunswick Middlesex 10,703$ 21,407$
Brunswick Monarch Group, LLC
SBIMPROVGR East Brunswick Middlesex 44,343$ 88,687$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Carrano Air HVAC Contractors LLC
SBIMPROVGR Dayton Middlesex 47,005$ 94,010$
SHEIKH FOODS LLC
SBIMPROVGR
Metuchen Borough
Middlesex 50,000$ 103,039$
J.KIM DENTAL LABORATORY,INC
SBIMPROVGR Old Bridge Middlesex 25,469$ 50,938$
Jersey Anesthesia and Pain Management
Consultants, LLC
SBIMPROVGR Edison Middlesex 49,404$ 98,809$
Ultimate Collision Repair Inc.
SBIMPROVGR Edison Middlesex 50,000$ 100,185$
Shreeji Limousine Services LLC
SBIMPROVGR Iselin Middlesex 3,251$ 6,502$
Interstate Powerwashing L.L.C.
SBIMPROVGR
South Plainfield Bo
Middlesex
42,500$ 85,000$
Now Im Fit LLC
SBIMPROVGR East Brunswick Middlesex 2,850$ 5,700$
Eagles Landing Day Camp LLC
SBIMPROVGR South Brunswick Middlesex 50,000$ 751,000$
Shanti 59 LLC
SBIMPROVGR
Middlesex Borough
Middlesex
50,000$ 114,925$
RELIABLE AUTOWORKS, L.L.C.
SBIMPROVGR South Amboy City Middlesex 4,188$ 8,376$
Optical Associates/The Eye Center
SBIMPROVGR Piscataway Middlesex 40,108$ 80,215$
E. A. Boniakowski Agency, Inc.
SBIMPROVGR Green Brook Middlesex 14,766$ 29,531$
Twin City Pharmacy, Inc.
SBIMPROVGR
South Plainfield Bo
Middlesex 50,000$ 101,305$
YSSE LLC
SBIMPROVGR
Highland Park Boro
Middlesex 29,723$ 59,445$
Waves of Wine
SBIMPROVGR Carteret Borough Middlesex 50,000$ 143,749$
SARI KLERER, DMD, PA
SBIMPROVGR Monroe Middlesex 50,000$ 104,085$
Kilmer Eatery LLC
SBIMPROVGR
New Brunswick Cit
Middlesex 27,746$ 55,493$
Deeper Change: Personal Growth &
Counseling Group, LLC
SBIMPROVGR
South Plainfield Bo
Middlesex 8,657$ 17,313$
ELITE Fitness Alliance LLC
SBIMPROVGR East Brunswick Middlesex 13,804$ 27,609$
LeCharme NY Limited Liability Company
SBIMPROVGR Manalapan Monmouth 7,027$ 14,053$
Timbur LLC
SBIMPROVGR
Keansburg Borough
Monmouth 50,000$ 279,122$
SOUTHPAWGYM LLC
SBIMPROVGR Neptune Monmouth 6,976$ 13,952$
Alyssa Tamara Beauty LLC
SBIMPROVGR
Matawan Borough
Monmouth 23,186$ 46,372$
AGN DENTAL PRACTICES, PC
SBIMPROVGR
Eatontown Boroug
Monmouth 42,394$ 84,787$
ConstBrothers Inc.
SBIMPROVGR
Manasquan Boroug
Monmouth 28,750$ 57,500$
GK Bridal LLC
SBIMPROVGR
Allentown Borough
Monmouth 8,261$ 16,521$
JERSEY SHORE OPHTHALMOLOGY RETINA
CONSULTANTS, LLC
SBIMPROVGR West Long Branch Monmouth 50,000$ 107,591$
Colts Neck Center for Invisalign and
Orthodontics P.C.
SBIMPROVGR Colts Neck Monmouth 38,130$ 76,260$
Keyport Diner Corp.
SBIMPROVGR Keyport Borough Monmouth 17,128$ 34,256$
Park Avenue Ophthalmology Retina
Consultants LLC
SBIMPROVGR Manalapan Monmouth 46,250$ 92,500$
T.L.P. Climate Control Systems, Inc.
SBIMPROVGR Millstone Monmouth 34,615$ 69,230$
Ocean CrossFit LLC
SBIMPROVGR
Neptune City Boro
Monmouth 7,764$ 15,529$
Summer Beach Inc
SBIMPROVGR Belmar Borough Monmouth 20,081$ 40,163$
Vaspro LLC
SBIMPROVGR Millstone Monmouth 23,500$ 47,000$
KRIM LANDAU LLC
SBIMPROVGR
Tinton Falls Boroug
Monmouth 26,163$ 52,325$
YM EAST POINTE CLEANERS LLC
SBIMPROVGR
Atlantic Highlands
Monmouth
6,660$ 13,320$
THE PRESTON-FORGE GROUP, INC
SBIMPROVGR Howell Monmouth 24,750$ 49,500$
MULLANEY TIRE SERVICE INC
SBIMPROVGR
Matawan Borough
Monmouth 26,076$ 52,153$
SPECIALTY SURGERY OF MIDDLETOWN LLC
SBIMPROVGR Middletown Monmouth 50,000$ 156,400$
Riyazali Hassam DMD PA
SBIMPROVGR Red Bank Borough Monmouth 41,437$ 82,873$
Algonquin Arts A NJ Non Profit
Corporation
SBIMPROVGR
Manasquan Boroug
Monmouth 50,000$ 100,700$
TALKING HEADS BARBERSHOP LLC
SBIMPROVGR Asbury Park City Monmouth 19,369$ 38,738$
THE DAVIS CENTER FOR ADVANCED
DENTISTRY LLC
SBIMPROVGR Manalapan Monmouth 50,000$ 128,724$
MADEBYMOGO LLC
SBIMPROVGR Asbury Park City Monmouth 32,180$ 64,359$
3BR Distillery LLC
SBIMPROVGR Keyport Borough Monmouth 50,000$ 105,821$
Steinbach Liquor License LLC
SBIMPROVGR Asbury Park City Monmouth 31,157$ 62,314$
Entertainment Xtreme Event Group, LLC
SBIMPROVGR Manalapan Monmouth 18,333$ 36,666$
Vague Pictures Inc.
SBIMPROVGR Middletown Monmouth 28,149$ 56,298$
Joyti Corp
SBIMPROVGR Manalapan Monmouth 6,771$ 13,541$
T&E Hess, LLC
SBIMPROVGR Long Branch City Monmouth 50,000$ 149,193$
Maria A Dunn
SBIMPROVGR Keyport Borough Monmouth 8,157$ 16,314$
Asbury Awning Manufacturing &
Installation , Inc
SBIMPROVGR Asbury Park City Monmouth 30,250$ 60,500$
TEC Logrippo Corp
SBIMPROVGR Brielle Borough Monmouth 7,000$ 13,999$
Lubischers Burn and Blast Training LLC
SBIMPROVGR West Long Branch Monmouth 32,709$ 65,418$
Genius Kids Inc
SBIMPROVGR Morganville Monmouth 23,501$ 47,002$
DJG Inc.
SBIMPROVGR Morganville Monmouth 50,000$ 104,415$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Exceptional Security Solutions, LLC
SBIMPROVGR Long Branch City Monmouth 17,429$ 34,858$
J & G Innkeepers, Inc.
SBIMPROVGR Freehold Borough Monmouth 45,125$ 96,938$
Griffys Organics LLC
SBIMPROVGR Long Branch City Monmouth 41,190$ 82,379$
Cutler's Dream Acres Farm, LLC
SBIMPROVGR
Farmingdale Borou
Monmouth 23,117$ 46,233$
Melonhead Cafe 2 LLC
SBIMPROVGR Red Bank Borough Monmouth 41,537$ 83,074$
Michael Serico, CPA, LLC
SBIMPROVGR
Neptune City Boro
Monmouth 16,763$ 33,525$
Aboudi Printing LLC
SBIMPROVGR Wall Monmouth 45,898$ 91,795$
Advanced Injury Care II, Inc
SBIMPROVGR
Lincoln Park Borou
Morris
7,629$ 15,258$
Lakeland Hills Family YMCA
SBIMPROVGR
Mountain Lakes Bo
Morris 50,000$ 128,700$
CJ Lasso Corporation
SBIMPROVGR Rockaway Morris 15,076$ 30,151$
New Nail Art Plus LLC
SBIMPROVGR
Rockaway Borough
Morris
6,600$ 13,200$
Grateful Donuts LLC
SBIMPROVGR Madison Borough Morris 8,773$ 17,546$
Inspiration Dance Academy LLC
SBIMPROVGR Riverdale Borough Morris 7,102$ 14,204$
Community Supports Network, LLC.
SBIMPROVGR Montville Morris 50,000$ 144,118$
Marc Mex LLC
SBIMPROVGR Chester Borough Morris 24,115$ 48,230$
WeWrench LLC
SBIMPROVGR Chester Borough Morris 21,692$ 43,384$
The Fitzgerald Group Inc
SBIMPROVGR
Parsippany-troy Hi
Morris 7,391$ 14,782$
Alfre, Inc.
SBIMPROVGR Morristown Morris 30,494$ 60,987$
HIGHGRADE LABS OF NEW JERSEY LLC
SBIMPROVGR Riverdale Borough Morris 50,000$ 156,448$
CHJS Rockaway Holding LLC
SBIMPROVGR
Rockaway Borough
Morris 39,963$ 79,926$
Spice Route NJ
SBIMPROVGR
Parsippany-troy Hi
Morris
21,750$ 43,500$
Flying Connected Inc
SBIMPROVGR Butler Borough Morris 50,000$ 111,000$
Cambay Holdings, LLC
SBIMPROVGR Randolph Morris 3,228$ 6,457$
New Blood Music LLC
SBIMPROVGR
Rockaway Borough
Morris 19,575$ 39,150$
XFComputers, LLC
SBIMPROVGR
Lincoln Park Borou
Morris 24,246$ 48,493$
The Sikora Group LLC
SBIMPROVGR Morristown Morris 15,690$ 31,379$
GR Productions LLC
SBIMPROVGR Madison Borough Morris 3,709$ 7,417$
Fabi-Saa Inc.
SBIMPROVGR East Hanover Morris 32,258$ 64,516$
PLANET HEALTH PHARMACY CORP
SBIMPROVGR Boonton Morris 11,543$ 23,086$
Michael Worthing Co., Inc.
SBIMPROVGR Pine Brook Morris 21,991$ 43,998$
Fitbarber Studio LLC
SBIMPROVGR Chester Morris 3,228$ 6,456$
ASL Group LLC
SBIMPROVGR
Long Hill Township
Morris
24,224$ 48,448$
Sundance Kids of Berkeley LLC
SBIMPROVGR Bayville Ocean 46,300$ 92,601$
The Hydrangea House LLC
SBIMPROVGR
Beach Haven Borou
Ocean 21,493$ 42,986$
Polly's Dock, LLC
SBIMPROVGR
Beach Haven Borou
Ocean 47,777$ 95,555$
A BREEZE LAUNDRY AND RENTAL LLC
SBIMPROVGR Lakewood Ocean 32,028$ 64,055$
MAJU Designers LLC
SBIMPROVGR Lakewood Ocean 13,546$ 27,091$
Theresa's South LLC
SBIMPROVGR Bay Head Borough Ocean 21,153$ 42,306$
KS Fitness Center, Inc.
SBIMPROVGR Toms River Ocean 15,577$ 31,153$
PEEK-A-BOO CHILDCARE II LLC
SBIMPROVGR Lakewood Ocean 50,000$ 102,025$
Education Lab Architects LLC
SBIMPROVGR
Dover Beaches Nor
Ocean 3,333$ 6,666$
Bam Bam Burgers LLC
SBIMPROVGR
Point Pleasant Bea
Ocean
50,000$ 103,655$
L&J The Yellow Door, Inc.
SBIMPROVGR Lakewood Ocean 16,242$ 32,485$
Floral Expressions Limited Liability
Company
SBIMPROVGR Lakewood Ocean 16,811$ 33,623$
Yeshivat Yagdil Torah INC
SBIMPROVGR Lakewood Ocean 49,109$ 98,218$
Innovative Supply Group LLC
SBIMPROVGR Lakewood Ocean 50,000$ 103,321$
Oceans of Dreams LLC
SBIMPROVGR
Beach Haven Borou
Ocean 23,888$ 47,775$
SUGO LLC
SBIMPROVGR Toms River Ocean 47,614$ 95,228$
DAZEKING, LLC
SBIMPROVGR
Beachwood Boroug
Ocean
9,579$ 19,157$
G & M Custom Kitchens and Baths LLC
SBIMPROVGR West Creek Ocean 42,707$ 85,414$
The Coral Hammer LLC
SBIMPROVGR Manahawkin Ocean 18,393$ 36,785$
J II LAKEWOOD L.L.C.
SBIMPROVGR Lakewood Ocean 10,885$ 21,770$
Chanies Laser Center LLC
SBIMPROVGR Lakewood Ocean 48,473$ 96,946$
Jazz Me Up Salon LLC
SBIMPROVGR
Lakehurst Borough
Ocean 20,184$ 40,367$
(ECI) East Coast Irrigation, Inc.
SBIMPROVGR Jackson Ocean 9,378$ 18,756$
RICHARD A. MARCUS, DMD, P.A.
SBIMPROVGR Lakewood Ocean 18,428$ 36,856$
Zada Rehab LLC
SBIMPROVGR Lakewood Ocean 50,000$ 107,056$
Center for Holistic & Oriental Medicine PC
SBIMPROVGR Lakewood Ocean 46,014$ 92,028$
Steven Bresler Dental LLC
SBIMPROVGR Lakewood Ocean 15,987$ 31,974$
Angie Lombardi Photo LLC
SBIMPROVGR
Seaside Heights Bo
Ocean 4,166$ 8,332$
The Merk, Inc.
SBIMPROVGR
Seaside Heights Bo
Ocean 32,487$ 64,975$
Platinum Uniforms LLC
SBIMPROVGR Lakewood Ocean 33,648$ 67,295$
ELEMENO, LLC
SBIMPROVGR Lakewood Ocean 49,244$ 98,488$
BooksSmart
SBIMPROVGR Lakewood Ocean 20,910$ 41,820$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
WEILL PT LLC
SBIMPROVGR Toms River Ocean 2,531$ 5,062$
Safer Orthodontics LLC
SBIMPROVGR Jackson Ocean 39,998$ 79,995$
Leider Enterprises Inc.
SBIMPROVGR Lakewood Ocean 25,000$ 23,900$
Diamant & Associates LLC
SBIMPROVGR Lakewood Ocean 21,342$ 42,684$
Braces @ Brick, P.A.
SBIMPROVGR Brick Ocean 32,991$ 65,982$
Coco Blanc LLC
SBIMPROVGR Lakewood Ocean 3,276$ 6,552$
Sprinkles of Lakewood II LLC
SBIMPROVGR Lakewood Ocean 16,445$ 32,890$
Sprinkles of Lakewood LLC
SBIMPROVGR Lakewood Ocean 24,825$ 49,507$
Pinelands Brewing LLC
SBIMPROVGR Little Egg Harbor Ocean 21,564$ 43,128$
Forward Thinking Therapy LLC
SBIMPROVGR Lakewood Ocean 10,857$ 21,714$
Cross Fitness LLC
SBIMPROVGR Lakewood Ocean 36,278$ 73,393$
Pyour Core Inc
SBIMPROVGR
Ship Bottom Borou
Ocean 44,567$ 89,134$
Hands to Feet Therapy LLC
SBIMPROVGR Lakewood Ocean 15,065$ 30,131$
SPOT SPEECH & OT LLC
SBIMPROVGR Lakewood Ocean 15,000$ 30,000$
TSC Group LLC
SBIMPROVGR Lakewood Ocean 12,765$ 25,530$
NJ RESPITE & RIDING LLC
SBIMPROVGR Jackson Ocean 9,200$ 18,401$
Myst Management LLC
SBIMPROVGR Lakewood Ocean 24,281$ 48,562$
Clamtown CrossFit LLC
SBIMPROVGR
Tuckerton Borough
Ocean 12,443$ 24,886$
Grape Apes LLC
SBIMPROVGR
Tuckerton Borough
Ocean 50,000$ 115,074$
Judaica Mall LLC
SBIMPROVGR Lakewood Ocean 31,561$ 63,121$
BabyBreath LLC
SBIMPROVGR Lakewood Ocean 4,150$ 8,300$
Evergreen Organic Cleaners Inc.
SBIMPROVGR Lakewood Ocean 43,659$ 87,318$
USA SPA N NAILS LLC
SBIMPROVGR Toms River Ocean 7,619$ 15,237$
RNL Enterprises LLC
SBIMPROVGR Lanoka Harbor Ocean 50,000$ 188,000$
Morph Mentoring LLC
SBIMPROVGR Toms River Ocean 11,218$ 22,437$
Yad Healthcare LLC
SBIMPROVGR Lakewood Ocean 50,000$ 104,888$
Silverstone Management LLC
SBIMPROVGR Lakewood Ocean 19,366$ 38,732$
AGA ImportsLLC
SBIMPROVGR Lakewood Ocean 11,730$ 23,460$
Sterling Property and Casualty Inc.
SBIMPROVGR Lakewood Ocean 22,618$ 45,236$
New Lines NJ, LLC
SBIMPROVGR Lakewood Ocean 49,247$ 98,494$
His Place in Lakewood Inc
SBIMPROVGR Lakewood Ocean 50,000$ 141,055$
His Place Junior LLC
SBIMPROVGR Lakewood Ocean 50,000$ 104,803$
AFJ,LLC
SBIMPROVGR Brick Ocean 4,565$ 9,130$
Jersey City Equity Group LLC
SBIMPROVGR Lakewood Ocean 20,663$ 41,325$
Chana Birnbaum LLC
SBIMPROVGR Jackson Ocean 3,329$ 3,658$
CHAI LIFELINE INC
SBIMPROVGR Lakewood Ocean 50,000$ 104,689$
Teka Eyewear Soho NY LLC
SBIMPROVGR Brick Ocean 48,821$ 97,642$
Blue Wave Car Wash and Quick Lube LLC
SBIMPROVGR Barnegat Ocean 50,000$ 117,883$
Double J Management Inc
SBIMPROVGR Toms River Ocean 46,149$ 92,299$
Polar 3 Products LLC
SBIMPROVGR
Island Heights Boro
Ocean
5,895$ 11,791$
A&J Consulting Engineering Services, P.C.
SBIMPROVGR Clifton City Passaic 50,000$ 100,484$
Heritage Hospitality Group LLC
SBIMPROVGR Wayne Passaic 22,625$ 45,250$
Unique & Victoria LLC
SBIMPROVGR Passaic City Passaic 13,764$ 27,528$
3FORTY GROUP INC
SBIMPROVGR Passaic City Passaic 23,860$ 47,720$
Precision Payroll Services, Inc.
SBIMPROVGR Wayne Passaic 10,137$ 20,273$
Gub Khao Thai LLC
SBIMPROVGR Paterson City Passaic 19,214$ 38,428$
Esthetics Studio LLC
SBIMPROVGR Wayne Passaic 22,318$ 44,637$
Jeffrey B. Wise, M.D. LLC
SBIMPROVGR Wayne Passaic 43,183$ 86,366$
Van Houten Plumbing & Heating Supply
Co.
SBIMPROVGR Passaic City Passaic 10,086$ 20,172$
COVAX LLC
SBIMPROVGR Clifton City Passaic 22,031$ 44,063$
AIM Orthopedics LLC
SBIMPROVGR Little Falls Passaic 5,700$ 11,401$
Michael A Benetatos OD LLC
SBIMPROVGR Haskell Passaic 19,404$ 38,807$
The Kitchen and Beer Bar LLC
SBIMPROVGR Haskell Passaic 3,811$ 7,623$
Yossi United Insurance Agency, LLC
SBIMPROVGR Clifton City Passaic 9,682$ 19,365$
Nino Burrito 2, LLC
SBIMPROVGR Totowa Borough Passaic 50,000$ 159,200$
Gourmet Dairy LLC
SBIMPROVGR Paterson City Passaic 49,000$ 98,000$
Se7te Woodfired Pizzeria LLC
SBIMPROVGR Totowa Borough Passaic 24,900$ 49,800$
Bendita Arepa Llc
SBIMPROVGR Paterson City Passaic 39,832$ 79,664$
SUN TAO STUDIO LIMITED LIABILITY
COMPANY
SBIMPROVGR
Wanaque Borough
Passaic 3,221$ 6,442$
Growers Choice, LLC
SBIMPROVGR West Milford Passaic 24,761$ 49,523$
Union Taverne LLC
SBIMPROVGR
Woodland Park Bo
Passaic 14,980$ 29,961$
The Highlands Nature Friends, Inc.
SBIMPROVGR
Ringwood Borough
Passaic 12,312$ 24,625$
Parkview Dental & Prosthodontics
SBIMPROVGR
North Haledon Bor
Passaic 47,967$ 95,934$
Milkyway Education Center Inc.
SBIMPROVGR Wayne Passaic 50,000$ 157,341$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Hello Dental LLC
SBIMPROVGR Haledon Borough Passaic 12,487$ 24,974$
Main Ave Cleaners Service LLC
SBIMPROVGR Clifton City Passaic 9,488$ 18,975$
Healthy Happy Children Medical Services
PC
SBIMPROVGR Clifton City Passaic 3,767$ 7,533$
Vital Plus Pharmacy, Inc
SBIMPROVGR Paterson City Passaic 2,500$ 5,000$
Woodhull Crossing, Inc.
SBIMPROVGR Little Falls Passaic 50,000$ 103,748$
Chosen Generation Community
Corporation
SBIMPROVGR Paterson City Passaic 8,736$ 17,472$
Micro Enterprises LLC
SBIMPROVGR Pennsville Salem 50,000$ 123,031$
PLAGGE ENTERPRISES, L.L.C.
SBIMPROVGR Pennsville Salem 18,932$ 37,865$
PLAGGE FITNESS INC.
SBIMPROVGR Pennsville Salem 24,634$ 49,269$
Italian Kitchen, Inc.
SBIMPROVGR
Penns Grove Borou
Salem 50,000$ 105,428$
Salem Country Club, LLC
SBIMPROVGR Elsinboro Salem 14,559$ 29,118$
Iannone Design LLC
SBIMPROVGR Elmer Borough Salem 5,084$ 10,167$
THE ART OF DENTISTRY, L.L.C.
SBIMPROVGR Somerset Somerset 50,000$ 101,304$
New C C Nails LLC
SBIMPROVGR Hillsborough Somerset 11,895$ 23,791$
Principessa, L.L.C.
SBIMPROVGR Kingston Somerset 15,659$ 31,319$
Tropiano & Son ltd.
SBIMPROVGR Raritan Borough Somerset 14,738$ 29,475$
Fresh Restorations LLC
SBIMPROVGR
Somerville Borough
Somerset 3,855$ 7,710$
Gaea LLC
SBIMPROVGR Warren Somerset 50,000$ 109,621$
Dan C Pullen DDS PA
SBIMPROVGR Hillsborough Somerset 30,003$ 60,006$
Franklins Grace Resource Center Inc
SBIMPROVGR Franklin Somerset 10,117$ 20,233$
UNNATI AMIN DDS LLC
SBIMPROVGR Hillsborough Somerset 45,274$ 90,548$
BEST EAB LLC
SBIMPROVGR Hillsborough Somerset 2,820$ 5,640$
Select Global Foods LLC
SBIMPROVGR Somerset Somerset 21,325$ 42,650$
Gerico Inc
SBIMPROVGR Bridgewater Somerset 10,945$ 21,890$
D D NUTRITION INC
SBIMPROVGR Manville Borough Somerset 9,250$ 18,500$
Sankalpexp food LLC
SBIMPROVGR Somerset Somerset 18,043$ 36,098$
Luca's Ristorante Inc.
SBIMPROVGR Somerset Somerset 50,000$ 103,447$
MFI Enterprises LLC
SBIMPROVGR
Somerville Borough
Somerset 9,335$ 18,670$
Tiny Turtle Academy LLC
SBIMPROVGR Basking Ridge Somerset 7,024$ 14,048$
Advanced Pod Systems LLC
SBIMPROVGR Hillsborough Somerset 10,696$ 21,391$
Desi Food Galaxy LLC
SBIMPROVGR Somerset Somerset 10,356$ 20,712$
Taida Orchids Inc
SBIMPROVGR Bridgewater Somerset 16,818$ 33,635$
B&Z DETAILING LLC
SBIMPROVGR Frankford Sussex 10,487$ 20,973$
DE BOER'S AUTO, INC.
SBIMPROVGR Hamburg Borough Sussex 8,553$ 17,107$
Angry Erik Brewing, LLC
SBIMPROVGR Hampton Sussex 30,164$ 60,329$
TOMAHAWK LAKE, INC.
SBIMPROVGR Sparta Sussex 45,120$ 90,241$
Best Dental Care NJ LLC
SBIMPROVGR Newton Town Sussex 30,562$ 61,124$
CP Engineers LLC
SBIMPROVGR Sparta Sussex 44,173$ 88,345$
Fairclough Enterprises Inc.
SBIMPROVGR Sparta Sussex 8,105$ 16,211$
Ames Rubber Corporation
SBIMPROVGR Hamburg Borough Sussex 3,824$ 7,647$
Cheder Yaldei Menachem
SBIMPROVGR Hillside Union 23,308$ 46,616$
Michael Anthony Auto Sales, Inc.
SBIMPROVGR Plainfield City Union 3,616$ 7,232$
F.A. DE ROSA LLC
SBIMPROVGR Westfield Town Union 35,418$ 70,837$
Smiline Dental NJ LLC
SBIMPROVGR Elizabeth City Union 4,569$ 9,138$
Bella Bella Nail Spa Incorporated
SBIMPROVGR Berkeley Heights Union 5,540$ 11,080$
Studio 107 Barbershop LLC
SBIMPROVGR Springfield Union 14,976$ 29,952$
CERA BEAUTY SUPPLY LLC
SBIMPROVGR Elizabeth City Union 15,612$ 31,225$
New Providence Orthodontics LLC
SBIMPROVGR
New Providence Bo
Union
15,993$ 31,986$
Arch Angels NJ LLC
SBIMPROVGR Rahway City Union 24,375$ 48,750$
WAGA ENTERPRISES ARCHITECTS LLC
SBIMPROVGR Rahway City Union 20,088$ 40,176$
MR PAN RESTAURANT & BAKERY
CORPORATION
SBIMPROVGR Elizabeth City Union 28,700$ 57,400$
Sproutlings Educational Childcare Center
LLC
SBIMPROVGR
New Providence Bo
Union 22,282$ 44,564$
Fyzical Therapy & Balance Center
SBIMPROVGR Clark Union 27,625$ 55,250$
ES BUILDERS GROUP LLC
SBIMPROVGR Rahway City Union 50,000$ 102,208$
Scooter Group LLC
SBIMPROVGR Rahway City Union 2,798$ 5,596$
canal jewelry corp
SBIMPROVGR Plainfield City Union 4,988$ 9,975$
MOTLEY GAMING LLC
SBIMPROVGR Rahway City Union 50,000$ 103,369$
Blushh Beauty Bar LLC
SBIMPROVGR Plainfield City Union 20,918$ 41,837$
RR ACCOUNTING & TAX SERVICES INC
SBIMPROVGR Rahway City Union 33,924$ 67,847$
Smith & Schwartzstein LLC
SBIMPROVGR Summit City Union 17,762$ 20,273$
BioRepository Resources, LLC
SBIMPROVGR
New Providence Bo
Union 48,956$ 97,911$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
PURPLE KISSES POLE FITNESS &
ENTERTAINMENT LLC
SBIMPROVGR Union Union 10,045$ 20,090$
Yuenme Corporation
SBIMPROVGR Springfield Union 14,408$ 28,815$
All My Friends, LLC
SBIMPROVGR Summit City Union 50,000$ 114,724$
Elements Interior Design Studio, LLC
SBIMPROVGR Westfield Town Union 23,533$ 47,065$
Dr. Gregg S Schneider
SBIMPROVGR Rahway City Union 10,917$ 21,834$
Brunner Eye Care LLC
SBIMPROVGR Westfield Town Union 49,534$ 99,069$
Zenith Events LLC
SBIMPROVGR Garwood Borough Union 5,840$ 11,681$
The Inghilleri Group Inc
SBIMPROVGR Union Union 5,120$ 10,240$
Revved Up Performance, LLC
SBIMPROVGR Union Union 14,735$ 29,470$
Powdhar CM Consulting LLC
SBIMPROVGR Union Union 50,000$ 100,177$
Halal zone grill and fried llc
SBIMPROVGR Elizabeth City Union 11,925$ 23,851$
Pro Beaute Salon Corp
SBIMPROVGR Plainfield City Union 10,850$ 21,700$
Cannaboy Treehouse, LLC
SBIMPROVGR Union Union 11,124$ 22,248$
Eston Auto Service LLC
SBIMPROVGR Union Union 48,555$ 97,110$
Fanwood Family and Cosmetic Dentistry
LLC
SBIMPROVGR Fanwood Borough Union 50,000$ 111,880$
Thunder Ridge Farms LLC
SBIMPROVGR Phillipsburg Town Warren 47,761$ 95,522$
JOSEPH H FIRTH YOUTH CENTER
SBIMPROVGR Phillipsburg Town Warren 45,935$ 91,870$
10 BRASS CASTLE ROAD LLC
SBIMPROVGR Washington Warren 50,000$ 181,000$
Eikon Planning and Design, LLC
SBIMPROVGR
Hackettstown Tow
Warren
4,455$ 8,909$
Little Hill Foundation for the Rehabilitation
of Alcoholics
SBIMPROVGR Hardwick Warren 50,000$ 114,251$
Princeton-Blairstown Center, Inc.
SBIMPROVGR Blairstown Warren 50,000$ 118,469$
Robinson Aerial Surveys, Inc.
SBIMPROVGR
Hackettstown Tow
Warren 15,886$ 31,772$
Liberty Physical Therapy PC
SBIMPROVGR Jersey City Hudson 50,000$ 252,134$
Perfect Finish Ortho Lab, Inc.
SBIMPROVGR Budd Lake Morris 50,000$ 159,620$
Heuer & Company
SBIMPROVGR
Waldwick Borough
Bergen 50,000$ 127,355$
Power Lines, Inc.
SBIMPROVGR
Wallington Boroug
Bergen 3,090$ 6,179$
Appleview Early Learning Center, LLC
SBIMPROVGR North Bergen Hudson 50,000$ 104,240$
APEX COPY & PRINT LLC
SBIMPROVGR Hackensack City Bergen 32,358$ 64,717$
ABS Human Resources Corp
SBIMPROVGR Howell Monmouth 50,000$ 139,078$
Caleb & Tyler Kim DDS LLC
SBIMPROVGR
Ho-ho-kus Borough
Bergen 50,000$ 201,527$
Klive International Corp
SBIMPROVGR Wyckoff Bergen 7,290$ 14,580$
Stripped Wax Bar LLC
SBIMPROVGR Hamilton Mercer 6,113$ 12,225$
Boutique Realty LLC
SBIMPROVGR Jersey City Hudson 28,414$ 56,827$
Mallon's Homemade Sticky Buns Inc
SBIMPROVGR Ocean City Cape May 50,000$ 125,400$
Broadview Technologies, Inc.
SBIMPROVGR Newark City Essex 17,416$ 34,833$
Cooperative Business Assistance
Corporation
SBIMPROVGR Camden City Camden 5,365$ 10,730$
Aberdeen Innkeepers, Inc.
SBIMPROVGR Aberdeen Monmouth 20,490$ 40,980$
The Artistic Group, Inc.
SBIMPROVGR Englewood City Bergen 50,000$ 123,114$
City Nail Tr Inc
SBIMPROVGR Toms River Ocean 10,750$ 21,500$
CROWN FLOORING NJ LLC
SBIMPROVGR Lakewood Ocean 44,237$ 88,474$
ECOSEP LLC
SBIMPROVGR Hopewell Mercer 12,632$ 25,264$
aaron brody dmd llc
SBIMPROVGR Englewood City Bergen 31,319$ 62,638$
IYH Investments LLC
SBIMPROVGR Lakewood Ocean 26,542$ 53,084$
GraphiX & Design Inc.
SBIMPROVGR Berlin Camden 5,000$ 10,000$
JACKS EDGEWATER GOURMET LLC
SBIMPROVGR
Edgewater Boroug
Bergen 13,504$ 27,007$
Super-K-Corporation
SBIMPROVGR
Pennsauken Towns
Camden
9,142$ 18,284$
SL Ridgewood 2015 LLC
SBIMPROVGR Montclair Essex 16,334$ 32,668$
Parking and Mobility LLC
SBIMPROVGR
Metuchen Borough
Middlesex 5,103$ 10,206$
Liligeo Trading Corp
SBIMPROVGR Rahway City Union 5,930$ 11,859$
ELITE TOMA MARTIAL ARTS, INC.
SBIMPROVGR Randolph Morris 6,526$ 13,053$
Midtown Collision LLC
SBIMPROVGR Newton Town Sussex 21,200$ 42,400$
Arrow Locksmiths and Security INC.
SBIMPROVGR Lakewood Ocean 11,209$ 22,419$
Fabre Technologies LLC
SBIMPROVGR Fairfield Essex 9,316$ 18,633$
shri hari om llc
SBIMPROVGR Marlton Burlington 14,115$ 28,229$
Seven Stone Capital LLC
SBIMPROVGR Lakewood Ocean 50,000$ 224,830$
Brilliant Smiles Pediatric Dentistry, LLC
SBIMPROVGR Newark City Essex 21,618$ 43,237$
Akshar Ap LLC
SBIMPROVGR Monroe Middlesex 50,000$ 165,000$
ABC's of Learning- Montville, Inc.
SBIMPROVGR Montville Morris 6,203$ 12,406$
Shree Nilkanthvarni LLC
SBIMPROVGR Deptford Gloucester 16,606$ 33,212$
Khosla Capital LLC
SBIMPROVGR Englewood City Bergen 16,607$ 33,214$
RYMER PETER DDS
SBIMPROVGR Hillsdale Borough Bergen 18,991$ 37,982$
Okies Butcher Shop, Inc.
SBIMPROVGR Surf City Borough Ocean 23,272$ 46,543$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
JASON ENTERPRISE LLC
SBIMPROVGR Whippany Morris 50,000$ 100,000$
TOTAL TRANSFORMATION LIMITED
LIABILITY COMPANY
SBIMPROVGR Montclair Essex 29,825$ 59,651$
DM Restaurant Ventures I LLC
SBIMPROVGR South Orange Essex 13,797$ 27,594$
Griffin Concepts LLC
SBIMPROVGR Union City Hudson 13,353$ 26,706$
HARE KRISHNA SUB LLC
SBIMPROVGR Berlin Camden 14,594$ 29,188$
Werko Machine Co, Inc.
SBIMPROVGR
Pennsauken Towns
Camden
50,000$ 143,720$
L.A. Bikini of Sea Girt, LLC
SBIMPROVGR Sea Girt Borough Monmouth 23,732$ 47,463$
Guthrie Glass & Mirror, Inc.
SBIMPROVGR Egg Harbor Atlantic 22,195$ 44,389$
The Miller Center for Esthetic Excellence
LLC
SBIMPROVGR Livingston Essex 11,951$ 23,903$
Image Unisex LLC
SBIMPROVGR Sicklerville Camden 7,826$ 15,651$
SHERRETTA LATAYSHA K
SBIMPROVGR Wildwood City Cape May 3,503$ 7,006$
S & W Enterprise LLC
SBIMPROVGR Pine Brook Morris 10,245$ 20,489$
Shoe Palace LLC
SBIMPROVGR Howell Monmouth 43,371$ 86,742$
Saraswatikun Enterprise Inc
SBIMPROVGR
Florham Park Boro
Morris 50,000$ 135,580$
Idaho Farmers Market LLC
SBIMPROVGR
Cliffside Park Borou
Bergen 50,000$ 113,281$
UpperSchelon Luxury Hair Emporium
SBIMPROVGR Maplewood Essex 13,998$ 27,996$
Zena American Mediterranean Cuisine LLC
SBIMPROVGR
Collingswood Boro
Camden 11,250$ 22,500$
Bistro d'Azur LLC
SBIMPROVGR South Orange Essex 12,656$ 25,312$
S and R Liquor-Closter, LLC
SBIMPROVGR Closter Borough Bergen 50,000$ 105,460$
Cavany Foods LLC
SBIMPROVGR Jersey City Hudson 44,183$ 88,366$
Stitch and Sew LLC
SBIMPROVGR Lakewood Ocean 46,260$ 92,520$
Destiny Awakening Healthcare Services
LLC, DBA Destiny Caregivers
SBIMPROVGR Newark City Essex 12,347$ 24,695$
Kaka Bar Inc
SBIMPROVGR
Palisades Park Boro
Bergen 31,921$ 63,841$
Chic Sugars LLC
SBIMPROVGR Englewood City Bergen 50,000$ 473,493$
Stone Fitness LLC
SBIMPROVGR Westfield Town Union 21,965$ 43,930$
Hackensack Brewing, LLC
SBIMPROVGR Hackensack City Bergen 50,000$ 185,367$
Laszlo Center 4 Hope & Healing Limited
Liability Company
SBIMPROVGR East Brunswick Middlesex 29,929$ 59,857$
Melao Cafe & Creamery LLC
SBIMPROVGR Rahway City Union 4,339$ 8,677$
Body Alchemy LLC
SBIMPROVGR
Bradley Beach Boro
Monmouth 7,023$ 14,046$
Dream Snack Of Nj Inc
SBIMPROVGR
East Rutherford Bo
Bergen 50,000$ 105,136$
OLD CASTLE FINE FOODS LLC
SBIMPROVGR
Ridgefield Borough
Bergen 21,429$ 42,857$
Brittany Ostrov Photography, LLC
SBIMPROVGR Montclair Essex 6,631$ 13,261$
SPOK & R Corp.
SBIMPROVGR Hamilton Mercer 42,350$ 84,700$
The Drop-In Princeton LLC
SBIMPROVGR
Princeton Junction
Mercer 17,310$ 34,621$
Imperial J & Y llc
SBIMPROVGR Lakewood Ocean 50,000$ 103,458$
New Jersey Workshop for the Arts, Inc.
SBIMPROVGR Westfield Town Union 4,518$ 9,036$
Hudson Kitchen, LLC
SBIMPROVGR Kearny Town Hudson 28,238$ 56,476$
THE RIVER VIEW AT CLINTON FALLS
VILLAGE, LLC
SBIMPROVGR Clinton Hunterdon 50,000$ 105,591$
JOOASOO LLC
SBIMPROVGR
Englewood Cliffs B
Bergen 21,000$ 42,000$
RyArMo Photography Studio LLC
SBIMPROVGR Newark City Essex 10,022$ 20,043$
HANNA NAILS NJ LLC
SBIMPROVGR Montclair Essex 6,300$ 12,600$
Juris Consulting Services LLC
SBIMPROVGR Orange Essex 5,030$ 10,061$
National Police Defense Foundation
SBIMPROVGR Morganville Monmouth 2,734$ 5,467$
Ridder's Custom Woodwork, LLC
SBIMPROVGR Hamilton Mercer 13,669$ 27,338$
Humanity Pictures LLC
SBIMPROVGR Camden City Camden 5,388$ 10,776$
Artists In Motion Dance Studio, LLC
SBIMPROVGR Cherry Hill Camden 18,383$ 36,765$
Rabble & Lion Coffee LLC
SBIMPROVGR Jersey City Hudson 20,886$ 41,772$
Carmen B G Limited Liability Corporation
SBIMPROVGR Newark City Essex 6,434$ 12,867$
Women's Rights Information Center
SBIMPROVGR Englewood City Bergen 14,785$ 29,570$
Nino Burrito 1 LLC
SBIMPROVGR
Lincoln Park Borou
Morris 50,000$ 180,877$
HB Dance LLC
SBIMPROVGR Norwood Borough Bergen 5,367$ 10,735$
The Wildflower Group LLC
SBIMPROVGR Hoboken City Hudson 15,096$ 30,192$
Jetty Life, LLC
SBIMPROVGR Manahawkin Ocean 50,000$ 104,925$
Sasha Acupuncture & Herbal Medicine LLC
SBIMPROVGR Montclair Essex 32,884$ 65,769$
The Therapy Gym LLC.
SBIMPROVGR Teaneck Bergen 50,000$ 121,363$
HERITAGE FINANCIAL CORPORATION
SBIMPROVGR Jersey City Hudson 39,021$ 78,042$
Ashton Brewing Company, LLC
SBIMPROVGR
Middlesex Borough
Middlesex 38,204$ 76,407$
Haim V. Cohen and Eyes on 9 Inc.
SBIMPROVGR Howell Monmouth 50,000$ 108,349$
Jai Jinendra LLC
SBIMPROVGR Berkeley Heights Union 50,000$ 175,000$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
NJ Floats, Inc.
SBIMPROVGR Bedminster Somerset 25,000$ 50,000$
Kliger and Zoldan PC
SBIMPROVGR Lakewood Ocean 36,369$ 72,738$
Meat and Board LLC
SBIMPROVGR Lakewood Ocean 8,904$ 17,807$
The Bass Corp
SBIMPROVGR
New Providence Bo
Union 50,000$ 102,250$
Manning Brothers LLC
SBIMPROVGR Bogota Borough Bergen 30,345$ 60,690$
AOS Thermal Compounds WI LLC
SBIMPROVGR
Eatontown Boroug
Monmouth 25,640$ 51,280$
Ohana Dental LLC
SBIMPROVGR
Midland Park Boro
Bergen
19,492$ 38,984$
Flexi Printing Plate Company, Inc.
SBIMPROVGR
Moonachie Boroug
Bergen
13,693$ 27,386$
Kim's Beauty Form LLC
SBIMPROVGR Leonia Borough Bergen 3,950$ 7,900$
Mani Corporation of NJ
SBIMPROVGR Mercerville Mercer 47,961$ 95,922$
Terry Enterprises Inc.
SBIMPROVGR Wayne Passaic 23,602$ 47,204$
SEJONG, LIMITED LIABILITY PARTNERSHIP
SBIMPROVGR
Ridgefield Park Vill
Bergen 9,082$ 18,164$
DAWN TO DUSK CHRISTIAN CHILDCARE
&LEARNING CENTER
SBIMPROVGR Plainfield City Union 9,733$ 19,467$
Jersey Plastic Molders, Inc.
SBIMPROVGR Irvington Essex 35,255$ 70,509$
Kurly Kurtosh LLC
SBIMPROVGR Nutley Essex 50,000$ 107,332$
Portuguese Venture, Inc.
SBIMPROVGR
South River Boroug
Middlesex 50,000$ 115,395$
Harikrishna Liquors Inc
SBIMPROVGR Palmyra Borough Burlington 24,000$ 48,000$
Brigantines Freshery LLC
SBIMPROVGR Brigantine City Atlantic 17,315$ 33,025$
BRAM Dental Group LLC
SBIMPROVGR
Haddon Heights Bo
Camden
50,000$ 102,236$
Amscot Structural Products Corporation
SBIMPROVGR Dover Town Morris 34,774$ 69,549$
Mr. Price, Inc.
SBIMPROVGR Lakewood Ocean 40,734$ 81,468$
Bergen Dental Care at Dumont
SBIMPROVGR Dumont Borough Bergen 33,480$ 66,961$
Forte Piano Music Co.
SBIMPROVGR Paramus Borough Bergen 13,320$ 26,640$
Dr. Patricia C. O'Brien, P.C.
SBIMPROVGR Stratford Borough Camden 12,367$ 24,733$
6201 Atlantic Avenue LLC
SBIMPROVGR
Wildwood Crest Bo
Cape May 50,000$ 574,326$
Mattarello LLC
SBIMPROVGR Montclair Essex 40,731$ 81,462$
Jersey Electrical Testing Corp.
SBIMPROVGR Burlington Burlington 17,393$ 34,786$
Shine Day Care, LLC
SBIMPROVGR Union City Hudson 9,418$ 18,837$
Eyet Law LLC
SBIMPROVGR
New Brunswick Cit
Middlesex 32,879$ 65,757$
AMAR DENTAL ASSOCIATES LLC
SBIMPROVGR
Princeton Borough
Mercer
50,000$ 106,642$
Custom Laminations, Inc.
SBIMPROVGR Paterson City Passaic 50,000$ 148,297$
DeLorenzo's ASP The Image Factory LLC
SBIMPROVGR Mcguire Afb Burlington 14,250$ 28,500$
South Jersey Storage LLC
SBIMPROVGR Williamstown Gloucester 50,000$ 113,540$
Pine Hill Tavern
SBIMPROVGR Pine Hill Borough Camden 50,000$ 116,058$
Equipoise Physical Therapy LLC
SBIMPROVGR Jersey City Hudson 18,905$ 37,809$
ONDEMAND PRINT GROUP
SBIMPROVGR Lyndhurst Bergen 22,516$ 45,032$
Apex Automotive Sales and Service LLC
SBIMPROVGR Maurice River Cumberland 21,317$ 42,634$
The Drop-In Plainfield LLC
SBIMPROVGR Plainfield City Union 39,199$ 78,399$
Krispy Krisp LLC
SBIMPROVGR Trenton City Mercer 18,400$ 36,800$
Karnival Foods LLC
SBIMPROVGR Camden City Camden 39,157$ 78,314$
Empire Design Studios, Inc
SBIMPROVGR Westfield Town Union 9,106$ 18,212$
K9 Nanni LLC
SBIMPROVGR
North Arlington Bo
Bergen 50,000$ 117,103$
DOL DONUTS LLC
SBIMPROVGR Trenton City Mercer 45,103$ 90,207$
H&R Healthcare, L.P.
SBIMPROVGR Lakewood Ocean 45,328$ 90,656$
Museum of New Jersey Maritime History,
Inc.
SBIMPROVGR
Beach Haven Borou
Ocean 10,550$ 21,100$
PARKVIEW HOLDINGS INVESTOR LLC
SBIMPROVGR
Collingswood Boro
Camden 11,545$ 23,091$
Plainfield Clippers Inc.
SBIMPROVGR
South Plainfield Bo
Middlesex
9,778$ 19,556$
Mission Spirits LLC
SBIMPROVGR Millville City Cumberland 29,308$ 58,616$
POLKAN DENTAL, P.C
SBIMPROVGR Verona Essex 15,190$ 30,379$
Goodeliving LLC
SBIMPROVGR Bloomfield Essex 11,665$ 23,329$
Some's Uniforms Inc.
SBIMPROVGR Hackensack City Bergen 5,250$ 10,500$
RHS Hospitality I LLC
SBIMPROVGR Union Union 50,000$ 105,729$
Studio Z Photo Booths LLC
SBIMPROVGR Fort Lee Borough Bergen 8,533$ 17,065$
mrs fields of american dream nj llc
SBIMPROVGR
East Rutherford Bo
Bergen 42,872$ 82,744$
Communication Continuity, Inc.
SBIMPROVGR Belleville Essex 50,000$ 119,041$
Delavan Auto Body, Inc.
SBIMPROVGR Belleville Essex 50,000$ 127,632$
1911 SMOKE HOUSE GROUP
CORPORATION
SBIMPROVGR Trenton City Mercer 50,000$ 183,170$
SMART FITNESS LLC
SBIMPROVGR Brielle Borough Monmouth 43,843$ 87,687$
Pronto Ship & Print LLC
SBIMPROVGR
Collingswood Boro
Camden 11,941$ 23,882$
Yeraz Brands LLC
SBIMPROVGR Ridgewood Village Bergen 12,717$ 25,434$
Town Title Agency, LLC
SBIMPROVGR Paramus Borough Bergen 44,691$ 89,383$
BK Brewing LLC
SBIMPROVGR
Flemington Boroug
Hunterdon 50,000$ 173,696$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
MDR Gelato LLC
SBIMPROVGR Englewood City Bergen 44,440$ 88,880$
FLOUNDER BREWING CO., LLC
SBIMPROVGR Hillsborough Somerset 50,000$ 120,003$
Yunayev Medical PC
SBIMPROVGR Princeton North Mercer 50,000$ 184,326$
Web-Cote, Ltd.
SBIMPROVGR Hardyston Sussex 50,000$ 139,247$
Comito Associates PC Architecture
SBIMPROVGR Newark City Essex 18,212$ 36,424$
Still Waters Therapeutic Massage LLC
SBIMPROVGR Mount Holly Burlington 5,574$ 11,148$
Pro-Activity Central Enterprise, LLC
SBIMPROVGR Clinton Hunterdon 10,112$ 20,223$
CINEMA LAB LLC
SBIMPROVGR South Orange Essex 50,000$ 100,886$
The Cub and Bunny Inc
SBIMPROVGR
Cherry Hill Townsh
Camden 37,775$ 75,550$
Sweeney Enterprises LLC
SBIMPROVGR Long Beach Ocean 35,123$ 70,246$
LD Gelato LLC
SBIMPROVGR Norwood Borough Bergen 49,979$ 99,958$
Superclean Laundromat LLC
SBIMPROVGR Trenton City Mercer 36,250$ 72,500$
3 BOYS LIMO SERVICES LLC
SBIMPROVGR Old Bridge Middlesex 12,697$ 25,395$
VIJAY SAMMY CPA LLC
SBIMPROVGR Jersey City Hudson 4,810$ 9,619$
Marty's Burger
SBIMPROVGR Fort Lee Borough Bergen 12,797$ 25,595$
CHESTNUT MONTESSORI LLC
SBIMPROVGR Robbinsville Mercer 50,000$ 107,103$
THE WILD ROVER PUB, INC.
SBIMPROVGR Guttenberg Town Hudson 7,488$ 14,977$
Housing and Neighborhood Development
Services, Inc.
SBIMPROVGR Orange Essex 14,616$ 29,233$
Wigs By Chayala LLC
SBIMPROVGR Lakewood Ocean 50,000$ 289,082$
SEMFL Enterprises, LLC
SBIMPROVGR
Fair Lawn Borough
Bergen
7,648$ 15,295$
LARRY BRAD DRUCKER INC
SBIMPROVGR Englewood City Bergen 9,094$ 18,189$
PENELOPE CHANG DDS PC
SBIMPROVGR Tenafly Borough Bergen 50,000$ 143,507$
General Scapes, LLC.
SBIMPROVGR Oakland Borough Bergen 4,742$ 9,484$
Jae Lenee, LLC
SBIMPROVGR Ewing Mercer 6,540$ 13,080$
SJO Lindsay LLC
SBIMPROVGR Ocean City Cape May 20,889$ 41,777$
Dautaj inc
SBIMPROVGR
Ringwood Borough
Passaic 10,050$ 20,100$
S Begonias Corp
SBIMPROVGR
Montvale Borough
Bergen 18,976$ 37,952$
Vegas NJ LLC
SBIMPROVGR Randolph Morris 40,000$ 80,000$
RDC Wine Inc
SBIMPROVGR
East Rutherford Bo
Bergen 39,092$ 78,183$
Laundry Care 365 LLC
SBIMPROVGR Trenton City Mercer 20,000$ 40,000$
Indochine Restaurant LLC
SBIMPROVGR
New Brunswick Cit
Middlesex
16,939$ 33,879$
SREW ENTERPRISES, LLC
SBIMPROVGR Englewood City Bergen 4,800$ 9,600$
Finnegan's Pub LLC
SBIMPROVGR Hoboken City Hudson 10,339$ 20,678$
James Hoffman Funeral Home Inc.
SBIMPROVGR Vineland City Cumberland 16,227$ 32,453$
The Jewish Community Center of the
Delaware Valley
SBIMPROVGR East Windsor Mercer 8,200$ 16,400$
Friday Films LLC
SBIMPROVGR Edison Middlesex 10,185$ 20,369$
Gyaan, LLC
SBIMPROVGR Edison Middlesex 50,000$ 144,475$
Kwality Foods LLC
SBIMPROVGR Edison Middlesex 50,000$ 106,271$
Julie Trading LLC
SBIMPROVGR
Little Ferry Boroug
Bergen 13,718$ 27,436$
VALENZANO WINERY, L.L.C.
SBIMPROVGR Shamong Burlington 50,000$ 101,330$
3point14 Marketing Group, Inc.
SBIMPROVGR Totowa Borough Passaic 32,050$ 64,099$
Northeast Communications, Inc
SBIMPROVGR Wharton Borough Morris 20,944$ 41,888$
E&G Hospitality LLC
SBIMPROVGR
New Brunswick Cit
Middlesex 23,525$ 47,050$
Hanwool Tax & Accounting LLC
SBIMPROVGR
Ridgefield Borough
Bergen 50,000$ 119,996$
Urge Fitness Limited Liability Company
SBIMPROVGR Ewing Mercer 35,124$ 70,247$
Plaza Dental Arts, LLC
SBIMPROVGR Teaneck Bergen 32,588$ 65,176$
BEYOGLU-GRILL CORP
SBIMPROVGR
Cliffside Park Borou
Bergen 3,464$ 6,927$
Dor-Win Manufacturing Co.
SBIMPROVGR
Elmwood Park Boro
Bergen
50,000$ 157,138$
BLACC SENSE, LLC
SBIMPROVGR Newark City Essex 23,736$ 47,472$
Bhumi Global Business LLC
SBIMPROVGR Monroe Middlesex 33,723$ 67,446$
Mercer Rubber Company
SBIMPROVGR Bellmawr Borough Camden 50,000$ 178,538$
Exchange Place Eye Associates LLC
SBIMPROVGR Jersey City Hudson 18,953$ 37,906$
A. L. Wilson Chemical Company
SBIMPROVGR Kearny Town Hudson 9,005$ 18,009$
TJ Rocco Enterprises LLC
SBIMPROVGR Carlstadt Borough Bergen 11,858$ 23,716$
KUDO SOCIETY TEANECK LLC
SBIMPROVGR Teaneck Bergen 24,715$ 49,430$
Temple Emanu El Foundation, Inc
SBIMPROVGR Edison Middlesex 20,194$ 40,387$
Aces Carwash Corp
SBIMPROVGR
Clementon Boroug
Camden
8,669$ 17,338$
Revival Vintage Boutique Corporation
SBIMPROVGR Hoboken City Hudson 7,749$ 15,499$
Glasstown Brewing LLC
SBIMPROVGR Millville City Cumberland 16,809$ 33,618$
URBAN PERFUMES CORP
SBIMPROVGR Secaucus Town Hudson 9,690$ 19,381$
Souha Hanna DDS LLC
SBIMPROVGR Kearny Town Hudson 39,608$ 79,216$
Silver Fountain Inc
SBIMPROVGR
Park Ridge Borough
Bergen 37,310$ 74,619$
Delta's Soulfood, Inc
SBIMPROVGR
New Brunswick Cit
Middlesex 50,000$ 100,221$
MLS Direct Real Estate Inc
SBIMPROVGR Barclay-kingston Camden 18,079$ 36,158$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Myung Ga Tofu Enterprise LLC
SBIMPROVGR Closter Borough Bergen 3,634$ 7,269$
Beau Rivage Beach Resort Inc
SBIMPROVGR
Wildwood Crest Bo
Cape May 50,000$ 105,854$
S Chang Tax Consulting LLC
SBIMPROVGR Union City Hudson 3,013$ 6,025$
madura rx llc
SBIMPROVGR South Amboy City Middlesex 12,085$ 23,885$
SALON J.EL LLC
SBIMPROVGR
Ridgefield Borough
Bergen 5,196$ 10,392$
OMRUT INC
SBIMPROVGR Mount Laurel Burlington 27,177$ 54,354$
NonLinear Knitting, LLC
SBIMPROVGR Jersey City Hudson 7,303$ 14,606$
Feehan Industries, LLC
SBIMPROVGR Garwood Borough Union 50,000$ 178,376$
Elidan Corporation
SBIMPROVGR Hackensack City Bergen 50,000$ 100,000$
REAP Cupcakes LLC.
SBIMPROVGR Passaic City Passaic 15,233$ 30,465$
Southern New Jersey Development
Council
SBIMPROVGR Turnersville Gloucester 4,796$ 9,593$
Szul's Landscapes, Inc.
SBIMPROVGR Chesterfield Burlington 3,077$ 6,154$
PARNOSAH, INC.
SBIMPROVGR Teaneck Bergen 23,432$ 46,863$
RR Bakery Group Limited Liability
Company
SBIMPROVGR Montclair Essex 50,000$ 102,642$
YMCA Camp Ralph S. Mason Inc
SBIMPROVGR Hardwick Warren 50,000$ 149,410$
New Jersey SHARES, Inc.
SBIMPROVGR
Flemington Boroug
Hunterdon 8,488$ 16,975$
Djerdan Burek Corp
SBIMPROVGR South Hackensack Bergen 35,870$ 71,740$
SQ PIZZA LLC
SBIMPROVGR Mahwah Bergen 50,000$ 103,311$
Palazzone1960 LLC
SBIMPROVGR Little Falls Passaic 50,000$ 114,008$
CW Brewing and Distilling LLC
SBIMPROVGR Hillsborough Somerset 50,000$ 107,451$
Union Sports Arena LLC
SBIMPROVGR Union Union 22,952$ 45,904$
Summerfield Inc.
SBIMPROVGR Hoboken City Hudson 9,170$ 18,340$
Primo Pharmatech LLC
SBIMPROVGR Somerset Somerset 4,476$ 8,953$
Cute Smiles LLC
SBIMPROVGR
Hasbrouck Heights
Bergen 50,000$ 150,000$
kaie salon, LLC
SBIMPROVGR Fort Lee Borough Bergen 16,720$ 33,440$
KITCH Organic, LLC
SBIMPROVGR Red Bank Borough Monmouth 6,524$ 13,048$
Nunnbetter NJ Ltd
SBIMPROVGR
Bergenfield Boroug
Bergen 8,608$ 17,215$
Paper Street Play LLC
SBIMPROVGR
Park Ridge Borough
Bergen 11,450$ 22,899$
D Elegance Salon Spa LLC
SBIMPROVGR Perth Amboy City Middlesex 11,146$ 22,292$
AC Art and Mirrors Inc
SBIMPROVGR
Ridgefield Borough
Bergen
28,120$ 56,241$
ONE STOP RESTAURANT SUPPLY CORP.
SBIMPROVGR North Bergen Hudson 19,747$ 39,494$
Headliners Barbershop and Salon
SBIMPROVGR Englewood City Bergen 7,555$ 15,110$
Kim, Chong Tae & Sue Y
SBIMPROVGR Irvington Essex 32,803$ 65,605$
SHREE GOKULESH LLC
SBIMPROVGR
Manasquan Boroug
Monmouth 15,750$ 31,500$
Good Morning Dental LLC
SBIMPROVGR Hackensack City Bergen 50,000$ 100,740$
NB Bookbinding, Inc.
SBIMPROVGR Clifton City Passaic 15,306$ 30,713$
Cakemom & J LLC
SBIMPROVGR
New Milford Borou
Bergen 9,873$ 19,746$
SILVER STRONG & ASSOCIATES LLC
SBIMPROVGR
Franklin Lakes Boro
Bergen
6,852$ 13,704$
Swell Cafe LLC
SBIMPROVGR Ocean City Cape May 39,359$ 78,717$
ALP INSURANCE & FINANCIAL SERVICES
INC
SBIMPROVGR
Cliffside Park Borou
Bergen 9,086$ 18,171$
Muns Beauty Salon Inc
SBIMPROVGR
Palisades Park Boro
Bergen 24,930$ 49,859$
AlphaGraphics
SBIMPROVGR Totowa Borough Passaic 3,865$ 7,730$
Suburban Orthopaedic and Medical Center
LLC
SBIMPROVGR Newark City Essex 17,265$ 34,530$
Jon-Gru LLC
SBIMPROVGR Nutley Essex 9,772$ 19,544$
HRCap, Inc.
SBIMPROVGR
Ridgefield Park Vill
Bergen 15,732$ 31,465$
Beyond Painting Inc
SBIMPROVGR Vineland City Cumberland 9,343$ 18,685$
THE HARWILL CORPORATION
SBIMPROVGR Windsor Mercer 35,467$ 70,934$
Van Natta Mechanical Corp.
SBIMPROVGR Mahwah Bergen 33,403$ 66,806$
Tarca LLC
SBIMPROVGR Skillman Somerset 23,940$ 47,880$
PAUL'S Motors 1920 LLC
SBIMPROVGR
Hawthorne Boroug
Passaic 5,915$ 11,830$
Dreamweaver Equine Center Corp
SBIMPROVGR Ringoes Hunterdon 24,124$ 48,248$
Falcon Wireless Cafe Limited Liability
Company
SBIMPROVGR North Bergen Hudson 2,880$ 5,760$
Nikkisnips LLC
SBIMPROVGR Old Bridge Monmouth 11,984$ 23,968$
Provenance Organic Farm LLC
SBIMPROVGR Lebanon Borough Hunterdon 29,602$ 59,204$
TRIO & COMPANY JEWELERS, L.L.C.
SBIMPROVGR Nutley Essex 8,250$ 16,500$
OMCAGR Incorporated
SBIMPROVGR Manalapan Monmouth 50,000$ 183,901$
Ristorante Nani Fine Italian Cuisine Inc
SBIMPROVGR
Rochelle Park Town
Bergen 42,771$ 85,543$
R & C Cleaners, LLC
SBIMPROVGR
West New York Tow
Hudson 18,393$ 36,785$
Charles J. Koehler Realty L.L.C.
SBIMPROVGR
Avon-by-the-sea Bo
Monmouth 2,775$ 5,549$
LE SPA NJ LIMITED LIABILITY COMPANY
SBIMPROVGR
White House Statio
Hunterdon 16,867$ 33,733$
Harold R Henrich INC
SBIMPROVGR Lakewood Ocean 50,000$ 750,000$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Closter Performing Arts
SBIMPROVGR Closter Borough Bergen 50,000$ 103,764$
Donlon Brew Works, LLC
SBIMPROVGR Lebanon Borough Hunterdon 27,248$ 54,495$
Print Solutions LLC
SBIMPROVGR Englewood City Bergen 23,174$ 46,349$
Blown Away Blow Out Bar LLC
SBIMPROVGR East Hanover Morris 17,730$ 35,459$
Signature Impressions
SBIMPROVGR Cranford Union 5,279$ 10,559$
Clarence Jackson Skills Academy Limited
Liability Company
SBIMPROVGR Evesham Burlington 50,000$ 100,585$
Eco-Plug-System LLC
SBIMPROVGR Hewitt Passaic 6,345$ 12,690$
Bliss Wellness Edison Center, PC
SBIMPROVGR Edison Middlesex 6,448$ 12,896$
Shore Systems Group, LLC
SBIMPROVGR Millstone Monmouth 18,906$ 37,812$
KPD Accounting Services LLC
SBIMPROVGR Hackensack City Bergen 3,273$ 6,545$
Max Home Furniture LLC
SBIMPROVGR Bayonne City Hudson 4,625$ 9,251$
GretchenBrew LLC
SBIMPROVGR
Neptune City Boro
Monmouth 16,075$ 32,150$
Beniak Enterprises, Inc.
SBIMPROVGR Union Union 50,000$ 117,256$
MILLBURN KIDS LLC
SBIMPROVGR Millburn Essex 50,000$ 109,814$
Dragonfly Woodbridge Inc.
SBIMPROVGR
Metuchen Borough
Middlesex 50,000$ 229,919$
Tracy Beveridge CPA LLC
SBIMPROVGR Springfield Union 12,922$ 25,843$
PETER KOTSOPEY, DMD, LLC
SBIMPROVGR Trenton City Mercer 41,171$ 82,342$
ksc cleaners inc
SBIMPROVGR Allendale Borough Bergen 11,249$ 22,498$
Antara Corp
SBIMPROVGR Deptford Gloucester 10,751$ 21,503$
NEW KOKO LOKO LLC
SBIMPROVGR
Palisades Park Boro
Bergen
10,950$ 21,900$
PINK NAIL 237 LLC
SBIMPROVGR Clifton City Passaic 4,890$ 9,781$
DiDonato's Bowling Center Inc.
SBIMPROVGR
Hammonton Town
Atlantic
49,405$ 98,810$
Neo-Toto Inc
SBIMPROVGR
Palisades Park Boro
Bergen 18,869$ 37,737$
Dragonfly Linden Inc.
SBIMPROVGR Linden City Union 50,000$ 121,404$
ASU Food Store LLC
SBIMPROVGR Ocean Monmouth 50,000$ 111,858$
Dick Hart's Auto Body, Inc.
SBIMPROVGR
Middlesex Borough
Middlesex 13,400$ 26,800$
SUNG W SEO CPA LLC
SBIMPROVGR
Ridgefield Park Vill
Bergen 5,742$ 11,484$
Rutherford JD, LLC
SBIMPROVGR
Rutherford Boroug
Bergen 50,000$ 153,975$
Nail Boutique II LLC
SBIMPROVGR Skillman Somerset 10,180$ 20,360$
ART & FRAME XPRESS INC
SBIMPROVGR Edison Middlesex 24,928$ 49,857$
Northern New Jersey Eye Institute PA
SBIMPROVGR South Orange Essex 8,000$ 16,000$
Bayonne Eats LLC
SBIMPROVGR Bayonne City Hudson 12,126$ 24,251$
Kosher Crunchy Inc
SBIMPROVGR Lakewood Ocean 13,231$ 26,463$
SubUAS LLC
SBIRBRGR Hillsborough Somerset 50,000$ -$
Venarum Medical, LLC
SBIRBRGR
Eatontown Boroug
Monmouth 50,000$ -$
Cell Podium
SBIRBRGR Newark City Essex 50,000$ -$
Banc3
SBIRBRGR West Windsor Mercer 50,000$ -$
Princeton NuEnergy Inc.
SBIRBRGR Bordentown Burlington 50,000$ -$
Fuceltech Inc
SBIRBRGR
Princeton Borough
Mercer
50,000$ -$
Culnexin Therapeutics
SBIRMAGR
Princeton Junction
Mercer 25,000$ -$
InnoSepra LLC
SBIRMAGR
Middlesex Borough
Middlesex
25,000$ -$
Fabricated Software Inc.
SBIRMAGR Cedar Grove Essex 25,000$ -$
AG350, Inc.
SBIRMAGR West Windsor Mercer 25,000$ -$
CloudJuncxion, Inc.
SBIRMAGR Branchburg Somerset 25,000$ -$
One World Design and Manufacturing
Group
SBIRMAGR Warren Somerset 25,000$ -$
Speckodyne Corporation
SBIRMAGR Hamilton Mercer 25,000$ -$
Celestron Technologies, LLC
SBIRMAGR Moorestown Burlington 25,000$ -$
Dandelion Science Corp
SBIRMAGR Hoboken City Hudson 25,000$ -$
Palindrome Technologies
SBIRMAGR Hazlet Monmouth 25,000$ -$
Tendo Technologies, Inc
SBIRMAGR Plainsboro Mercer 25,000$ -$
NeuroTechR3, Inc.
SBIRMAGR Newark City Essex 25,000$ -$
Simphotek Inc
SBIRMAGR Newark City Essex 25,000$ -$
Mindprint Learning LLC
SBIRMAGR
Princeton Borough
Mercer 25,000$ -$
RADIOSIGHT LLC
SBIRMAGR Hoboken City Hudson 25,000$ -$
Manhattan Biosolutions, LLC
SBIRMAGR Fort Lee Borough Bergen 25,000$ -$
Misram LLC
SBIRMAGR Holmdel Monmouth 25,000$ -$
impact business information solutions inc
SBIRMAGR Princeton North Mercer 25,000$ -$
Regenosine, Inc.
SBIRMAGR Jersey City Hudson 25,000$ -$
Team of Care Solutions LLC
SBIRMAGR Fort Lee Borough Bergen 25,000$ -$
NANOSEPEX INC.
SBIRMAGR Newark City Essex 25,000$ -$
Generation Biotech, LLC
SBIRMAGR Princeton North Mercer 25,000$ -$
StemPlant LLC
SBIRMAGR
Location1: Camde
Location1: Camde
25,000$ -$
Marine Electric Systems Inc
SBIRMAGR South Hackensack Bergen 25,000$ -$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Blue Rock Solutions Inc.
SBIRMAGR Williamstown Gloucester 25,000$ -$
Phoresis, Inc.
SBIRMAGR
Princeton Borough
Mercer 25,000$ -$
HIT NANO, INC.
SBIRMAGR Bordentown Burlington 25,000$ -$
Kathera Bioscience, Inc
SBIRMAGR Union Union 25,000$ -$
BioTillion, LLC
SBIRMAGR Skillman Somerset 25,000$ -$
Knowledge To Own Corporation
SBIRMAGR Springfield Union 25,000$ -$
1Huddle, Inc.
SBIRMAGR Newark City Essex 25,000$ -$
REFORM FURNITURE NJ, LLC
SBLEASEGR Paramus Borough Bergen 37,240$ 37,240$
The Village Therapy Place LLC
SBLEASEGR Wyckoff Bergen 13,582$ 13,582$
OZCELIK INC
SBLEASEGR Carlstadt Borough Bergen 24,000$ 24,000$
DANUBUNTU ENTERPRISE LLC
SBLEASEGR Norwood Borough Bergen 18,253$ 18,253$
Liv N Kai LLC
SBLEASEGR Englewood City Bergen 27,097$ 27,097$
JUST FOOTWORX ACADEMY LLC
SBLEASEGR Dumont Borough Bergen 29,281$ 29,281$
Noble Chase LLC
SBLEASEGR Fort Lee Borough Bergen 46,056$ 46,056$
CHK US LLC
SBLEASEGR Fort Lee Borough Bergen 13,763$ 13,763$
Carrick Mor of Glen Rock Limited Liability
Company
SBLEASEGR
Glen Rock Borough
Bergen 20,880$ 20,880$
K-CHICKEN ENTERPRISE LLC
SBLEASEGR
Fair Lawn Borough
Bergen 14,088$ 14,088$
SB Permanent Makeup & Cosmetology LLC
SBLEASEGR Englewood City Bergen 6,000$ 6,000$
Clean Space Zen LLC
SBLEASEGR Marlton Burlington 6,793$ 6,793$
Balanced Child Pediatric Therapy
SBLEASEGR Lumberton Burlington 13,017$ 13,017$
Hope & Harmony Health, LLC
SBLEASEGR Turnersville Camden 4,800$ 4,800$
Meus Shop LLC
SBLEASEGR Maplewood Essex 23,235$ 23,235$
Stuff by SJ LLC
SBLEASEGR Montclair Essex 7,560$ 7,560$
ULTIMATE PAK LLC
SBLEASEGR Irvington Essex 55,294$ 55,294$
GBK Holdings LLC
SBLEASEGR Newark City Essex 24,240$ 24,240$
Chang Koh Inc
SBLEASEGR Bloomfield Essex 14,160$ 14,160$
VITUS MEDICAL TRANSPORTATION
SERVICE L.L.C.
SBLEASEGR South Orange Essex 12,000$ 12,000$
CARIBBEAN NAILS STUDIO & HAIR STYLE
LLC
SBLEASEGR Newark City Essex 9,600$ 9,600$
The Cupcake Parlor LLC
SBLEASEGR East Greenwich Gloucester 7,194$ 7,194$
Neurobehavioral Wellness Center, LLC
SBLEASEGR Woolwich Gloucester 20,822$ 20,822$
GIGI'S Catering LLC
SBLEASEGR
West New York Tow
Hudson 12,857$ 12,857$
AXEIOM ENTERTAINMENT INC.
SBLEASEGR
Flemington Boroug
Hunterdon 71,515$ 71,515$
Gardner Family Chiropractic LLC
SBLEASEGR Lebanon Borough Hunterdon 4,800$ 4,800$
PRECIOUS GEMS ACADEMY INC
SBLEASEGR
Flemington Boroug
Hunterdon 12,242$ 12,242$
The Venue by P
SBLEASEGR Hamilton Mercer 12,720$ 12,720$
Awesome Solutions LLC
SBLEASEGR Piscataway Middlesex 23,198$ 23,198$
FAIR USE BUILDING AND RESEARCH LABS,
A NJ NONPROFIT CORPORATION
SBLEASEGR
North Brunswick To
Middlesex 18,909$ 18,909$
JLC EASTERN LLC
SBLEASEGR
New Brunswick Cit
Middlesex 15,581$ 15,581$
L & L KITCHEN LLC
SBLEASEGR Edison Middlesex 18,150$ 18,150$
Akihi global inc
SBLEASEGR
Metuchen Borough
Middlesex 15,560$ 15,560$
JUCOWICS HOLDINGS LLC
SBLEASEGR
Metuchen Borough
Middlesex 8,825$ 8,825$
EAT SLEEP RACE LIMITED LIABILITY
COMPANY
SBLEASEGR
North Brunswick To
Middlesex 24,260$ 24,260$
Rhythm and Spice Pizzeria and Grill LLC
SBLEASEGR
New Brunswick Cit
Middlesex 28,080$ 28,080$
Aboudi Printing LLC
SBLEASEGR
Eatontown Boroug
Monmouth
20,485$ 20,485$
ULTIMATE SPORTS CAMP, LLC
SBLEASEGR Asbury Park City Monmouth 98,084$ 98,084$
SZOJ JEWELERS CORP.
SBLEASEGR Howell Monmouth 15,252$ 15,252$
Cyriano Management LLC
SBLEASEGR
Englishtown Borou
Monmouth 8,117$ 8,117$
Timbur LLC
SBLEASEGR
Keansburg Borough
Monmouth 40,000$ 40,000$
LT Designs LLC
SBLEASEGR
Eatontown Boroug
Monmouth 3,360$ 3,360$
MJM2058 INC
SBLEASEGR Randolph Morris 18,328$ 18,328$
CJ Lasso Corporation
SBLEASEGR Rockaway Morris 18,915$ 18,915$
Inspiration Dance Academy LLC
SBLEASEGR Riverdale Borough Morris 30,927$ 30,927$
VDIAZ MULTISERVICES & TAX CENTER LLC
SBLEASEGR Morristown Morris 7,200$ 7,200$
East Hanover Restaurant, LLC
SBLEASEGR East Hanover Morris 74,825$ 74,825$
Angel Planet Foods LLC
SBLEASEGR East Hanover Morris 12,016$ 12,016$
BELLA SABATINA PREMIUM TEA LLC
SBLEASEGR
Lakehurst Borough
Ocean 24,200$ 24,200$
EZ Repacks LLC
SBLEASEGR Toms River Ocean 45,231$ 45,231$
RESTAURANT JIREH LLC
SBLEASEGR Paterson City Passaic 19,440$ 19,440$
Kingsland Prime Meats LLC
SBLEASEGR
Woodland Park Bo
Passaic 57,000$ 57,000$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
King Delicatessen LLC
SBLEASEGR Martinsville Somerset 15,682$ 15,682$
ESTUDIO NOVAS LLC
SBLEASEGR Linden City Union 11,318$ 11,318$
Thor Xpress Transport
SBLEASEGR Elizabeth City Union 46,665$ 46,665$
JETHAKAUSHKAMAL INC
SBLEASEGR Union Union 7,640$ 7,640$
The Tax Place Limited Liability Company
SBLEASEGR Washington Warren 5,520$ 5,520$
Propagate Studio LLC
SBLEASEGR Stewartsville Warren 9,840$ 9,840$
Haynes Preparatory School LLC
SBLEASEGR
South Plainfield Bo
Middlesex
14,880$
Clarence Jackson Skills Academy Limited
Liability Company
SBLEASEGR Evesham Burlington 56,000$
Lil Legs LLC
SBLEASEGR Lakewood Ocean 52,369$
KBG Express Somerset LLC
SBLEASEGR Somerset Somerset 29,560$
Jayden Joseph LLC
SBLEASEGR Readington Hunterdon 23,334$
JERSEY MINUTE, LLC
SBLEASEGR Turnersville Camden 17,280$
SAMSEL & ASSOCIATES REALTY LLC
SBLEASEGR Clark Union 16,800$
Spec-X LLC
SBLEASEGR Somerset Somerset 66,369$
Inner City Cafe LLC
SBLEASEGR Orange Essex 11,800$
THE BEET HOUSE LLC
SBLEASEGR Newark City Essex 22,800$
Sweet Hoboken LLC
SBLEASEGR Hoboken City Hudson 34,104$
Allure Artistry LLC
SBLEASEGR Allamuchy Warren 12,000$
Wells Appel, Inc.
SBLEASEGR
Haddonfield Borou
Camden 22,128$
Grooms Club LLC
SBLEASEGR Paramus Borough Bergen 36,808$
MISKAR LLC
SBLEASEGR Lakewood Ocean 24,791$
GOLDEN HEART ADULT DAY CARE INC
SBLEASEGR Somers Point City Atlantic 48,000$
Its A Wrap by Della LLC
SBLEASEGR Newark City Essex 9,792$
Second Street Youth Center Foundation
Inc.
SBLEASEGR Plainfield City Union 63,000$
Jai Jinendra LLC
SBLEASEGR Berkeley Heights Union 20,874$
Garden State Spine & Pain Institute LLC
SBLEASEGR Red Bank Borough Monmouth 88,024$
VGLP, LLC
SBLEASEGR Westfield Town Union 18,000$
GSD Trucksports, LLC
SBLEASEGR Laurence Harbor Monmouth 46,220$
HAL MAE NOODLE LLC
SBLEASEGR
Palisades Park Boro
Bergen 37,891$
JINESHWAR LLC
SBLEASEGR Livingston Essex 21,780$
URELAX 3 LLC
SBLEASEGR Westfield Town Union 29,160$
Rabble & Lion Coffee LLC
SBLEASEGR Jersey City Hudson 9,391$
Sweets to Crave LLC
SBLEASEGR Summit City Union 19,856$
KARATE FIT USA LLC
SBLEASEGR Lawrenceville Mercer 14,220$
FOXMOOR TRAVEL LLC
SBLEASEGR Hamilton Mercer 10,108$
Kwality Foods LLC
SBLEASEGR Edison Middlesex 37,049$
The World of Knowledge Learning Center
LLC
SBLEASEGR Clifton City Passaic 19,920$
AQUABLUE CORP
SBLEASEGR
Lavallette Borough
Ocean 9,600$
Forever Young Baby Shop LLC
SBLEASEGR
Collingswood Boro
Camden
7,344$
Beachbox Brands LLC
SBLEASEGR Asbury Park City Monmouth 14,308$
Lannies Cleaners Inc.
SBLEASEGR East Orange City Essex 19,200$
Arthur Gordon Associates Inc
SBLEASEGR Freehold Monmouth 34,500$
GK Bridal LLC
SBLEASEGR
Allentown Borough
Monmouth 8,640$
Rocky's Crystals and Minerals Limited
Liability Company
SBLEASEGR South Orange Essex 14,474$
J&K Cleaners Inc.
SBLEASEGR
Montvale Borough
Bergen 14,520$
Moxie Print LLC
SBLEASEGR Somerset Somerset 65,038$
The Custom Shoppe Inc.
SBLEASEGR Lakewood Ocean 24,791$
Twin Lights Brewing, LLC
SBLEASEGR
Tinton Falls Boroug
Monmouth 15,120$
American Transport Logistics, Inc.
SBLEASEGR Morganville Monmouth 21,038$
SHOCK TECH, INC.
SBLEASEGR Mahwah Bergen 57,780$
Kimchee Mama, LLC.
SBLEASEGR
Fair Lawn Borough
Bergen 13,709$
MOTLEY GAMING LLC
SBLEASEGR Rahway City Union 32,433$
Mountain Lakes Club, Inc.
SBLEASEGR
Mountain Lakes Bo
Morris 85,737$
Highlands Business Partnership Inc
SBLEASEGR
Highlands Borough
Monmouth 4,800$
DOLLAR USA 1 LLC
SBLEASEGR
Little Ferry Boroug
Bergen
18,536$
Griffys Organics LLC
SBLEASEGR Long Branch City Monmouth 13,200$
Dragonfly Health Turnersville, LLC
SBLEASEGR Moorestown Burlington 15,968$
Scordilis Family Chiropractic, P.A.
SBLEASEGR Bloomfield Essex 44,144$
DENDEN FINANCIAL SERVICE LLC
SBLEASEGR Cinnaminson Burlington 20,520$
HB Dance LLC
SBLEASEGR Norwood Borough Bergen 8,470$
East Side Mags Limited Liability Company
SBLEASEGR Montclair Essex 26,730$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
Die Tech, LLC
SBLEASEGR Hackensack City Bergen 14,424$
Ravis Ventures LLC
SBLEASEGR Cinnaminson Burlington 11,911$
CINEMA LAB LLC
SBLEASEGR South Orange Essex 77,176$
RR Bakery Group Limited Liability
Company
SBLEASEGR Montclair Essex 35,226$
ALP INSURANCE & FINANCIAL SERVICES
INC
SBLEASEGR
Cliffside Park Borou
Bergen 13,920$
Dragonfly Health Turnersville, LLC
SBLEASEGR Moorestown Burlington 14,716$
M.A.G.I.C. On Haddon, LLC
SBLEASEGR Camden City Camden 2,970$
MIDDLETOWN DRY CLEANERS & TAILORS
L.L.C.
SBLEASEGR Middletown Monmouth 15,073$
Morph Mentoring LLC
SBLEASEGR Toms River Ocean 5,760$
PICK UP FROM JESSIE HAIR STUDIO BY
CANIYA, LLC
SBLEASEGR Mount Laurel Burlington 8,400$
Stone Fitness LLC
SBLEASEGR Westfield Town Union 12,106$
Barre-ista Inc
SBLEASEGR
Franklin Lakes Boro
Bergen 28,034$
YY INVESTMENT GROUP LLC
SBLEASEGR Lakewood Ocean 19,732$
One Stop Board Shop, LLC
SBLEASEGR
Somerville Borough
Somerset 24,543$
Stuart United Inc.
SBLEASEGR Jersey City Hudson 22,264$
Bendixen Holdings Inc.
SBLEASEGR Moorestown Burlington 24,664$
Lionrose Enterprise Limited Liability
Company
SBLEASEGR Lakewood Ocean 20,462$
Plaza Dental Arts, LLC
SBLEASEGR Teaneck Bergen 27,060$
GUERRERO, LUCIA V
SBLEASEGR Union City Hudson 5,760$
CW Brewing and Distilling LLC
SBLEASEGR Hillsborough Somerset 40,896$
Brow Fix Studio And Spa LLC
SBLEASEGR Montclair Essex 19,222$
Spotlight Dance Academy of NJ
SBLEASEGR
Bound Brook Borou
Somerset 13,617$
Naturalvert, LLC
SBLEASEGR
Hawthorne Boroug
Passaic 22,411$
Leblon Brazilian Steakhouse LLC
SBLEASEGR Hillsdale Borough Bergen 37,594$
Iron Republik LLC
SBLEASEGR Jersey City Hudson 11,069$
Agraj Seva Kendra A NJ Nonprofit
Corporation
SBLEASEGR Rossmoor Middlesex 5,846$
TAMASHA LLC
SBLEASEGR
Parsippany-troy Hi
Morris 21,924$
RHS Hospitality I LLC
SBLEASEGR Union Union 40,979$
CRE8SART LLC
SBLEASEGR
Glen Rock Borough
Bergen 15,600$
Precious Feet Christian Daycare &
Academy
SBLEASEGR Newark City Essex 13,680$
DOGGIE SWEETS LLC
SBLEASEGR Long Branch City Monmouth 11,376$
La Lupa Di Roma LLC
SBLEASEGR
Neptune City Boro
Monmouth 9,600$
On The Way Courier LLC
SBLEASEGR Newark City Essex 48,690$
Natural Neighborhood Industries LLC
SBLEASEGR Newark City Essex 21,437$
BKC, CPAs, PC
SBLEASEGR
Flemington Boroug
Hunterdon
49,401$
London Kids Shoes Lakewood LLC
SBLEASEGR Jackson Ocean 14,457$
Modular Closets Limited Liability Company
SBLEASEGR Lakewood Ocean 65,210$
Icon Knobs LLC
SBLEASEGR Lakewood Ocean 28,258$
JLCJJ LLC
SBLEASEGR Colts Neck Monmouth 51,102$
Cuties Childrens Boutique LLC
SBLEASEGR
Shrewsbury Boroug
Monmouth 10,560$
Jersey Marketing Inc
SBLEASEGR Burlington Burlington 11,714$
Lisa Mascall Acupuncture & Physical
Therapy Professional Corporation
SBLEASEGR Hackensack City Bergen 9,360$
Peppercorn Events LLC
SBLEASEGR River Vale Bergen 10,455$
CHICKEN NARA LLC
SBLEASEGR Carlstadt Borough Bergen 17,052$
Noodle Cafe, Limited Liability Company
SBLEASEGR Montclair Essex 39,060$
Barry A Kaplan, D.M.D., P.A.
SBLEASEGR
Florham Park Boro
Morris 18,540$
Loe Budget Productions LLC
SBLEASEGR West Long Branch Monmouth 24,917$
Life Science Labs Supplements LLC
SBLEASEGR Toms River Ocean 21,828$
Botanica Blooms LLC
SBLEASEGR Lakewood Ocean 15,053$
LF Form LLC
SBLEASEGR Paramus Borough Bergen 17,717$
Shoreline Dance, Inc.
SBLEASEGR
Neptune City Boro
Monmouth 33,116$
Triple R Services, LLC
SBLEASEGR
Runnemede Borou
Camden 10,080$
APLUS NAIL & BEAUTY LLC
SBLEASEGR Long Branch City Monmouth 13,608$
Yamaha Music Conservatory LLC
SBLEASEGR
Fair Lawn Borough
Bergen 43,800$
Myra Foods LLC
SBLEASEGR Lyndhurst Bergen 39,897$
MAID IN JC LIMITED LIABILITY COMPANY
SBLEASEGR Jersey City Hudson 9,600$
New Providence Dentistry LLC
SBLEASEGR
New Providence Bo
Union 36,175$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
MJ Tax & Business Solutions LLC
SBLEASEGR Edison Middlesex 4,320$
ARNG LLC
SBLEASEGR
West New York Tow
Hudson 16,800$
Aleah Multi Services Center LLC
SBLEASEGR Perth Amboy City Middlesex 12,240$
Relational Group Partners Inc.
SBLEASEGR
Eatontown Boroug
Monmouth 76,010$
New Jersey Foot & Ankle Centers PC
SBLEASEGR Oradell Borough Bergen 48,889$
Whims Ales, LLC
SBLEASEGR Waterford Camden 14,441$
A&M BEAUTY TRADING LLC
SBLEASEGR Union City Hudson 7,680$
MILLENIUM COSMETICS LIMITED LIABILITY
COMPANY
SBLEASEGR
Morris Plains Borou
Morris 16,320$
Team Fit Limited Liability Company
SBLEASEGR Tenafly Borough Bergen 16,080$
La Strada Pizza LLC
SBLEASEGR Aberdeen Monmouth 19,488$
Simbron, Noemi C.
SBLEASEGR Paterson City Passaic 7,300$
BIBYS EMPANADAS LLC
SBLEASEGR
Fair Lawn Borough
Bergen 8,944$
Harikrishna Liquors Inc
SBLEASEGR Palmyra Borough Burlington 24,000$
Magnolia Nail Studio LLC
SBLEASEGR Passaic City Passaic 14,640$
AIM Orthopedics LLC
SBLEASEGR Little Falls Passaic 19,440$
SMV 9 LLC
SBLEASEGR Bayonne City Hudson 24,000$
EL COLOR DE MEXICO LLC
SBLEASEGR Passaic City Passaic 23,040$
SUGO LLC
SBLEASEGR Toms River Ocean 16,080$
Kosher Cell Inc.
SBLEASEGR Lakewood Ocean 24,000$
BLUE RIBBON DRY CLEANERS & TAILORS
LLC
SBLEASEGR Red Bank Borough Monmouth 7,760$
Santarella, Anthony
SBLEASEGR Livingston Essex 15,718$
Cedar Eats LLC
SBLEASEGR Lakewood Ocean 66,160$
DAISY DELI AND GROCERY INC
SBLEASEGR Weehawken Hudson 10,920$
Cups & Cones, Limited Liability Company
SBLEASEGR Marlton Burlington 19,488$
Surgical Step Inc.
SBLEASEGR Lakewood Ocean 10,320$
Alexander Fine Design Construction
Limited Liability Company
SBLEASEGR Egg Harbor City Atlantic 9,744$
HOLLYWOOD RUMBA BABERSHOP LLC
SBLEASEGR Union City Hudson 6,000$
Growing and Learning Academy LLC
SBLEASEGR Harrison Town Hudson 21,655$
Bella's Boutique LLC
SBLEASEGR Harrison Town Hudson 7,200$
LL Salon Studios LLC
SBLEASEGR
South Plainfield Bo
Middlesex 65,133$
LEILO'S SWEET SHOP LLC
SBLEASEGR West Orange Essex 8,856$
ELLIS BACKYARD LLC
SBLEASEGR Red Bank Borough Monmouth 27,600$
Sew N Style LLC
SBLEASEGR Howell Monmouth 9,013$
LUCIAN BARBER SHOP LIMITED LIABILITY
COMPANY
SBLEASEGR Union City Hudson 7,200$
Nail Boutique II LLC
SBLEASEGR Skillman Somerset 15,998$
ABC Flooring and Home LLC
SBLEASEGR East Hanover Morris 13,440$
Frenchic LLC
SBLEASEGR
Metuchen Borough
Middlesex 14,060$
MARIE'S ALLIED HEALTH & TECHNICAL
INSTITUTE, INC
SBLEASEGR Somerset Somerset 24,367$
MHD LLC
SBLEASEGR
Glen Rock Borough
Bergen 18,800$
PAK TRADE LLC
SBLEASEGR Clifton City Passaic 25,279$
zebra academy inc
SBLEASEGR East Orange City Essex 9,400$
Myung Ga Tofu Enterprise LLC
SBLEASEGR Closter Borough Bergen 14,319$
GYEONG HEUI AN LEE
SBLEASEGR Closter Borough Bergen 12,777$
Golden Umbrella Group Inc
SBLEASEGR Franklin Mercer 20,500$
Boruch Trading LLC
SBLEASEGR Lakewood Ocean 39,558$
Edison Drugs and Surgical Inc
SBLEASEGR Perth Amboy City Middlesex 17,626$
Envy Lash 7 LLC
SBLEASEGR Summit City Union 15,539$
Mastermind Behavior Services LLC
SBLEASEGR Lakewood Ocean 11,011$
Hi-Line Wireless LLC
SBLEASEGR Passaic City Passaic 12,000$
LEBLEU CORP
SBLEASEGR Butler Borough Morris 19,269$
Law Offices of Hye Jung Park, LLC
SBLEASEGR
Englewood Cliffs B
Bergen 7,560$
SMART FITNESS LLC
SBLEASEGR Brielle Borough Monmouth 46,284$
B&H AUTO REPAIR II LLC
SBLEASEGR Iselin Middlesex 27,600$
Ai Sakae Asian Cuisine INC
SBLEASEGR
Morris Plains Borou
Morris
15,904$
Z3 Fitness Reinvented LLC
SBLEASEGR Wyckoff Bergen 14,616$
J&J TIRES AND WHEELS LIMITED LIABILITY
COMPANY
SBLEASEGR
Little Ferry Boroug
Bergen 26,796$
PBFF Group LLC
SBLEASEGR
Northvale Borough
Bergen 29,837$
Fabulous Events By La Rebas Creations
Limited Liability Company
SBLEASEGR Turnersville Camden 13,200$
Legaci Events Center LLC
SBLEASEGR Jersey City Hudson 8,820$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
NATIONAL WASTE CLEAN INC
SBLEASEGR
South Plainfield Bo
Middlesex 41,600$
FEENEY CPA LLC
SBLEASEGR Kinnelon Borough Morris 7,699$
Apart, Together in Motion LLC
SBLEASEGR
Princeton Borough
Mercer 31,332$
Del Aguila, Marcos S
SBLEASEGR Ridgewood Village Bergen 23,400$
SISTERS SPOT LLC
SBLEASEGR
Pennsauken Towns
Camden 9,840$
QUEEN HOUSE SPA LLC
SBLEASEGR Bayonne City Hudson 5,340$
Kurly Kurtosh LLC
SBLEASEGR Nutley Essex 13,416$
Core Zone Integrated Medical & Wellness
PC
SBLEASEGR
Matawan Borough
Monmouth 16,524$
AUTHENTIC LOOMS RUGS INC.
SBLEASEGR Fairfield Essex 43,645$
Rising Tide Capital, Inc
SBLEASEGR Jersey City Hudson 71,859$
Jaxsaw Fitness LLC
SBLEASEGR
Watchung Borough
Somerset 32,514$
Karalyn Herban P.A. Professional
Association
SBLEASEGR Morganville Monmouth 22,592$
Cape May Brewing Limited Liability
Company
SBLEASEGR Cape May City Cape May 36,720$
For-Tech Electric LLC
SBLEASEGR Lakewood Ocean 19,200$
ROSE BEDDING & INTEROIR CORP
SBLEASEGR
Palisades Park Boro
Bergen 28,800$
Dwell Architects LLC
SBLEASEGR Lakewood Ocean 15,744$
Lacey-Woode LLC
SBLEASEGR Maplewood Essex 13,110$
FABRIC DRY CLEANING, LLC
SBLEASEGR Moorestown Burlington 10,800$
Good Morning Dental LLC
SBLEASEGR Hackensack City Bergen 26,796$
CP Studio Westfield LLC
SBLEASEGR Westfield Town Union 34,409$
Tossed NJ Corp
SBLEASEGR Newark City Essex 9,038$
MAPLEWOOD BUSINESS SERVICES
SBLEASEGR Maplewood Essex 8,640$
Laura Kellett Realty Limited Liability
Company
SBLEASEGR Guttenberg Town Hudson 14,016$
THERAPHYSICAL Limited Liability Company
SBLEASEGR
Wallington Boroug
Bergen 12,000$
HUMBLE BRICK OVEN INC.
SBLEASEGR Linden City Union 17,695$
The Kink Centre LLC
SBLEASEGR Lawrenceville Mercer 11,470$
GOOD BOY GOOD GIRL LLC
SBLEASEGR Manalapan Monmouth 32,843$
ABS Human Resources Corp
SBLEASEGR Howell Monmouth 13,380$
RDC Wine Inc
SBLEASEGR
East Rutherford Bo
Bergen 18,828$
The Drop-In Princeton LLC
SBLEASEGR
Princeton Junction
Mercer 30,444$
BLACC SENSE, LLC
SBLEASEGR Newark City Essex 31,200$
BoozeTable Inc.
SBLEASEGR
River Edge Borough
Bergen 46,893$
MZ VENTURES LLC
SBLEASEGR Paterson City Passaic 16,440$
SWEET TIME LLC
SBLEASEGR Montclair Essex 16,500$
Rhymes 2 Reasons Learning Center LLC
SBLEASEGR
North Brunswick To
Middlesex
24,000$
Q & F Grocery & Deli LLC
SBLEASEGR Paterson City Passaic 29,520$
Alya Bathroom Supply, LLC
SBLEASEGR Paramus Borough Bergen 43,783$
Plntd LLC
SBLEASEGR Jersey City Hudson 18,225$
N J Pacific Inc
SBLEASEGR
Hightstown Boroug
Mercer 14,400$
Aaria Physical Therapy Inc
SBLEASEGR Edison Middlesex 21,135$
Dragonfly Woodbridge Inc.
SBLEASEGR
Metuchen Borough
Middlesex 95,968$
Mana Physical Therapy LLC
SBLEASEGR East Brunswick Middlesex 28,435$
Excellence in Education LLC
SBLEASEGR
Flemington Boroug
Hunterdon 15,180$
ALLTELL LIMITED LLC
SBLEASEGR Lakewood Ocean 35,809$
Plainfield Clippers Inc.
SBLEASEGR
South Plainfield Bo
Middlesex
13,157$
Benco, Inc.
SBLEASEGR Fairfield Essex 37,520$
Fedorko, David M.
SBLEASEGR
Elmwood Park Boro
Bergen 5,760$
SHEIKH FOODS LLC
SBLEASEGR
Metuchen Borough
Middlesex 15,600$
XPO Fitness Operator, LLC
SBLEASEGR Livingston Essex 15,834$
All Stars Academy Limited Liability
Company
SBLEASEGR Perth Amboy City Middlesex 51,716$
DURBRET LLC
SBLEASEGR
Jamesburg Boroug
Middlesex 17,036$
Alya Bathroom Supply, LLC
SBLEASEGR Paramus Borough Bergen 45,605$
CAFE METRO LLC
SBLEASEGR Teaneck Bergen 10,473$
Taste of Flava Limited Liability Company
SBLEASEGR Union Union 15,901$
Cliffside Laundry LLC
SBLEASEGR
Cliffside Park Borou
Bergen 12,120$
Fevzi's Grill LLC
SBLEASEGR Erlton-ellisburg Camden 18,504$
Dragonfly Linden Inc.
SBLEASEGR Linden City Union 120,056$
3D Biotek LLC
SBLEASEGR Warren Somerset 20,160$
Max Home Furniture LLC
SBLEASEGR Bayonne City Hudson 11,000$
Kreme and Krumbs LLC
SBLEASEGR Montclair Essex 22,283$
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (Non-COVID Projects)
Project
Product City County Amount
Total Project Cost
Estimated
New Jobs
General Pallet Industries, Inc.
SBLEASEGR
Flemington Boroug
Hunterdon 41,360$
A & A Transformation Center LLC
SBLEASEGR
New Providence Bo
Union 25,548$
NSN Moorestown LLC
SBLEASEGR Moorestown Burlington 24,900$
CLFIT LLC
SBLEASEGR Jersey City Hudson 22,669$
REDDING REALTY LLC
SLPPL Princeton North Mercer 600,000$ 1,506,725$
5
JK Realty Acquisition LLC
SLPPL Branchburg Somerset 1,215,000$ 2,709,
250$
18
St. Rita's Estate LLC
SLPPL
South Plainfield Bo
Middlesex
546,000$ 5,440,750$
40
311 MLK Drive, LLC
SLPPL Jersey City Hudson 1,550,000$ 4,111,106$
0
2,376 projects
886,687,199$ 918,127,639$ 829
INNOVATION ECONOMY ACTIVITY REPORT
(2022 NJ EMERGING TECHNOLOGY AND BIOTECHNOLOGY ANNUAL REPORT)
New Jersey Emerging Technology and Biotechnology Financial Assistance 2022 Annual Report
Technology Business Tax Certificate Program (NOL Program)
In support of the Edison Innovation Fund and in accordance with amendments made to the New Jersey
Emerging Technology and Biotechnology Financial Assistance Act (P.L.1997, C.334, section 1), the EDA
administers the Technology Business Tax Certificate Program in coordination with the New Jersey
Division of Taxation.
The program makes $60 million in tax certificates available each year to growing biotechnology and
technology companies and assists these businesses in continuing their research, raising capital and
strengthening and building their business.
Below is a summary of the approvals made in CY2022:
Project
City
County
Hepion Pharmaceuticals, Inc.
Edison
Middlesex
County
Acuitive Technologies, Inc.
Allendale Borough
Bergen County
Citius Pharmaceuticals, Inc.
Cranford
Union County
Soligenix, Inc.
Princeton Borough
Mercer County
Avertix Medical, Inc
Eatontown Borough
Monmouth
County
Gadget Software, Inc.
Hackensack City
Bergen County
Acuitive Technologies, Inc.
Allendale Borough
Bergen County
OncoSec Medical Inc.
Pennington Borough
Mercer County
AIM ImmunoTech, Inc.
Riverton Borough
Burlington
County
Brilliant Light Power, Inc fka Blacklight Power
Cranbury
Mercer County
IoTecha Corp
Cranbury
Mercer County
TLC Products, Inc
Blackwood
Camden County
Cornerstone Pharmaceuticals, Inc.
Newark City
Essex County
Hope Portal Services, Inc
Holmdel
Monmouth
County
VectraCor, Inc.
Totowa Borough
Passaic County
BioAegis Therapeutics, Inc.
North Brunswick
Township
Middlesex
County
SCYNEXIS, Inc.
Jersey City
Hudson County
CorMedix Inc.
Berkeley Heights
Union County
Ocean Power Technologies, Inc.
Monroe
Middlesex
County
Bellerophon Therapeutics, Inc.
Warren
Somerset
County
ElectroCore, Inc
Rockaway
Morris County
Solidia Technologies, Inc.
Piscataway
Middlesex
County
Svelte Medical Systems, Inc.
New Providence
Borough
Union County
Agile Therapeutics, Inc.
Princeton North
Mercer
Soligenix, Inc.
Princeton North
Mercer County
Cytosorbents Medical, Inc. (f/k/a Medasorb
Technologies, Inc.)
Monmouth Junction
Middlesex
County
Matinas BioPharma Holdings, Inc. & Subs
Bedminster
Somerset
County
Provention Bio, Inc.
Red Bank Borough
Monmouth
County
PDS Biotechnology Corporation
Florham Park Borough
Morris County
LISATA THERAPEUTICS, INC.
Basking Ridge
Somerset
County
Celldex Therapeutics, Inc.
Hampton Borough
Hunterdon
County
Imunon, Inc.
Lawrenceville
Mercer County
Angel Investor Tax Credit Program
The Angel Investor Tax Credit provides refundable tax credits against New Jersey corporation business
or gross income tax for 20 percent of a qualified investment in an emerging technology business with a
physical presence in New Jersey that conducts research, manufacturing, or technology
commercialization. The tax credit may be increased to 25% if the business is certified M/WBE or located
in an Opportunity Zone or New Markets Tax Credit Census Tract.
CY2022 Quarter
Applications
Investment Amt
Tax Credit Amt
Q1
221
$41,639,079
$7,797,658
Q2
204
$41,430,413
$8,048,773
Q3
110
$49,648,838
$6,738,684
Q4
147
$18,020,510.20
$3,166,473
TOTAL
682
$ 150,738,840
$ 25,751,588
NJ Ignite Program
One of the pillars of Governor Murphy’s vision of a stronger fairer economy is recreating New Jersey as a
home for innovation. Fostering emerging businesses and helping them overcome barriers to commercial
success is critical to achieving that vision.
NJ Ignite supports entrepreneurs by providing rent support grants. In addition, this program provides
collaborative workspaces with a new tenant attraction tool.
In CY2022, 1 project closed on a grant through NJ Ignite:
Applicant
Entrepreneur
City
County
Grant Amt
New Jersey Institute of
Technology
SingletO2 Therapeutics
LLC
Newark
Essex
$7,200
NJ Accelerate
NJ Accelerate recognizes the strengths of accelerators in nurturing the next generation of
entrepreneurs. Through NJ Accelerate, the NJEDA seeks to provide entrepreneurs access to best-in-class
programs and return home with the tools and support to grow their businesses in the Garden State.
An accelerator is a fixed-term, cohort-based “boot camp” offering educational programs for start-up
founders, exposing them to a wide variety of mentors, including former entrepreneurs, venture
capitalists (VCs), angel investors, and corporate executives.
Through the NJ Accelerate Program, NJEDA:
• Promotes Approved Accelerator program opportunities to the NJ innovation ecosystem.
• Matches sponsorship support for Approved Accelerator programs and events held in NJ.
• Provides direct loans and rent support to eligible Approved Accelerator graduates.
• Supports Governor Murphy’s goal of making NJ the most diverse innovation ecosystem in the
country
NJ Accelerate is a two-step process to encourage the engagement of accelerator programs in New
Jersey, while facilitating the participation of businesses in these accelerator programs:
1. An accelerator operator applies to the NJEDA to be pre-qualified as an “Approved Accelerator”.
2. Approved Accelerator graduates are eligible for financial assistance from the NJEDA in NJ.
In CY2022, 1 accelerator graduate closed on financial assistance through NJ Accelerate.
Company
City
County
NJEDA Assistance Amt
EnvoyatHome, Inc
Gibbsboro
Camden
$50,000
NJ CoVest
The NJ CoVest Fund provides seed funding to New Jersey technology and life sciences companies to
further commercialize their technology and scale revenues. Investments made through the NJ CoVest
Fund align with the NJEDA’s ongoing strategy of supporting New Jersey’s entrepreneurial ecosystem. In
CY2022, 1 project closed under NJ CoVest Fund.
Company
City
County
NJEDA Investment Amt
Inkbench, Inc.
Montclair
Essex
$145,000
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (COVID Projects)
Project
Product City County Amount Total Project Costs Est New Jobs
CCCB Corp.
CVSB2GR Atlantic City Atlantic 2,000$
$ 2,000
Big Lights LLC
CVSB2LO Atlantic City Atlantic 9,180$
$ 9,180
Velocity Maintenance Solutions LLC
CVSB2LO Egg Harbor Atlantic 96,880$
$ 96,880
NAEEM AHMED KHAN LLC.
CVSB2LO Pleasantville City Atlantic 75,000$
$ 75,000
J&D Investment Acquisitions
CVSB3GR Egg Harbor Atlantic 5,000$
$ 5,000
J & D Investment Acquisitions
CVSB4GR Atlantic City Atlantic 10,000$
$ 10,000
Planet Impact Fund, LLC
CVSB4GR Egg Harbor Atlantic 10,000$
$ 10,000
Headliners Barbershop
CVSB4GR Egg Harbor Atlantic 1,000$
$ 1,000
Atlanticare Foundation, Inc.
CVSSNJGR Egg Harbor Atlantic 114,262$
$ 114,262
The Greek Orthodox Cathedral of St. John the
Theologian
CVSB2GR Tenafly Borough Bergen 10,000$
RDC Wine Inc
CVSB2LO East Rutherford Borough Bergen 75,000$
$ 75,000
SB Permanent Makeup & Cosmetology LLC
CVSB2LO Englewood City Bergen 25,350$
$ 25,350
KAS DesignTech Limited Liability Company
CVSB2LO Englewood City Bergen 30,375$
$ 30,375
GEMROCK LLC
CVSB2LO Englewood Cliffs Borough Bergen 60,000$
$ 60,000
Ground Support Labs, LLC.
CVSB2LO Englewood Cliffs Borough Bergen 75,000$
$ 75,000
Club Bulldog LLC
CVSB2LO Englewood Cliffs Borough Bergen 79,306$
$ 79,306
NAIL PLUS SC INC
CVSB2LO Franklin Lakes Borough Bergen 50,000$
$ 50,000
Santas Dominican Beauty Salon LLC
CVSB2LO Hackensack City Bergen 50,000$
$ 50,000
Valor Vision Enterprise, LLC
CVSB2LO Paramus Borough Bergen 50,000$
$ 50,000
The Therapy Gym LLC.
CVSB2LO Teaneck Bergen 50,000$
$ 50,000
Jack Potatoes Inc.
CVSB2LO Westwood Borough Bergen 41,438$
$ 41,438
Chirico & Calabro, LLC
CVSB2LO Wood-ridge Borough Bergen 75,000$
$ 75,000
connect 602 LLC
CVSB4GR Cliffside Park Borough Bergen 10,000$
$ 10,000
Englewood Center for Learning and
Development, inc
CVSB4GR Englewood City Bergen 10,000$
$ 10,000
Swipe Social Inc
CVSB4GR Englewood City Bergen 10,000$
$ 10,000
MUTUAL INT'L FORWARDING INC.
CVSB4GR Englewood Cliffs Borough Bergen 10,000$
$ 10,000
BROWN,ANDREA R
CVSB4GR Fairview Borough Bergen 10,000$
$ 10,000
FRIO YOGO, INC
CVSB4GR Fort Lee Borough Bergen 10,000$
$ 10,000
JH Exclusive
CVSB4GR Garfield City Bergen 10,000$
$ 10,000
Melamma Information Systems
CVSB4GR
Hasbrouck Heights Boroug
Bergen 10,000$
$ 10,000
RIM, YOUNGTAEK
CVSB4GR Little Ferry Borough Bergen 10,000$
$ 10,000
Freeman, Laron S dba Racey’s Virgin Hair and
Lash Bar
CVSB4GR Lodi Borough Bergen 10,000$
$ 10,000
Egan Environmental Consulting, Inc.
CVSB4GR Mahwah Bergen 10,000$
$ 10,000
NONE - SOLE PROPRIOTOR - SELF EMPLOYED
CVSB4GR New Milford Borough Bergen 10,000$
$ 10,000
Uniquely Behaved
CVSB4GR Northvale Borough Bergen 10,000$
$ 10,000
MICHELLE'S NAIL
CVSB4GR Norwood Borough Bergen 10,000$
$ 10,000
Susan sunmi Moon
CVSB4GR Palisades Park Borough Bergen 10,000$
$ 10,000
PalPark Holding LLC
CVSB4GR Palisades Park Borough Bergen 10,000$
$ 10,000
Genesis Construction LLC
CVSB4GR Palisades Park Borough Bergen 10,000$
$ 10,000
Carpet Designs and Details, Inc.
CVSB4GR Paramus Borough Bergen 10,000$
$ 10,000
LEE, JOYCE
CVSB4GR Paramus Borough Bergen 10,000$
$ 10,000
Art Mora NJ LLC
CVSB4GR Ridgefield Park Village Bergen 10,000$
$ 10,000
Jmg travel unlimited LLC
CVSB4GR Ridgewood Village Bergen 10,000$
$ 10,000
SONNY T, L.L.C
CVSB4GR River Edge Borough Bergen 15,000$
$ 15,000
Ki joo Kim
CVSB4GR Teaneck Bergen 10,000$
$ 10,000
brigette bogart planning & design professionals
llc
CVSB4GR Wyckoff Bergen 10,000$
$ 10,000
The Cliffside Park Hall of Fame, Inc.
CVSSNJGR Cliffside Park Bergen 563,500$
$ 563,500
All Access Community Development Corporation
CVSSNJGR Hackensack City Bergen 171,308$
$ 171,308
HealthBarn Foundation Inc.
CVSSNJGR Lyndhurst Bergen 1,454,845$
$ 1,454,845
Our Community Dinner Table a NJ Nonprofit
Corporation
CVSSNJGR South Hackensack Bergen 231,919$
$ 231,919
Holy Name Medical Center Foundation
CVSSNJGR Teaneck Bergen 1,454,845$
$ 1,454,845
Rockland Coaches, Inc
CVBUSGR Paramus Borough Bergen 1,906,254$
$ 1,906,254
Community Transit Lines, Inc
CVBUSGR Paramus Borough Bergen 880,415$
$ 880,415
HADOUKEN LLC
CVSB2LO Englewood City Bergen 36,602$
$ 36,602
Bridge Trade LLC
CVSB2LO Garfield City Bergen 45,000$
$ 45,000
CRE8SART LLC
CVSB2LO Glen Rock Borough Bergen 99,000$
$ 99,000
BoozeTable Inc.
CVSB2LO River Edge Borough Bergen 57,750$
$ 57,750
Alya Bathroom Supply, LLC
CVSB2LO Westwood Borough Bergen 50,000$
$ 50,000
I & J Rossco LLC
CVSB2GR Hainesport Burlington 1,000$
$ 1,000
Ryde Spin and Fitness LLC
CVSB2LO Burlington City Burlington 26,689$
$ 26,689
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (COVID Projects)
Project
Product City County Amount Total Project Costs Est New Jobs
Ambrosia Restaurants LLC
CVSB2LO Mount Laurel Burlington 100,000$
$ 100,000
Aktep Behavioral, LLC
CVSB2LO Riverside Burlington 55,916$
$ 55,916
Children's Continuum of Care, Inc.
CVSB2LO Riverside Burlington 100,000$
$ 100,000
SST THACH INC
CVSB4GR Delanco Burlington 10,000$
$ 10,000
Quality Of Excellence
CVSB4GR Palmyra Borough Burlington 10,000$
$ 10,000
The All Natural Corner Store
CVSB4GR Willingboro Burlington 10,000$
$ 10,000
Trex Performance
CVSB4GR Wrightstown Borough Burlington 10,000$
$ 10,000
Styled by Shon LLC
CVSB2LO Burlington City Burlington 26,000$
$ 26,000
360 Marketing & PR
CVSB2LO Camden City Camden 50,000$
$ 50,000
Rocco Films LLC
CVSB2LO Collingswood Borough Camden 11,700$
$ 11,700
Puff & Pipe 36, LLC
CVSB2LO Oaklyn Borough Camden 50,000$
$ 50,000
Dragonfly Health Turnersville, LLC
CVSB2LO Turnersville Camden 100,000$
$ 100,000
Fabulous Events By La Rebas Creations Limited
Liability Company
CVSB2LO Turnersville Camden 20,000$
$ 20,000
School of classacts
CVSB4GR Blackwood Camden 10,000$
$ 10,000
T.I.'s The Next Level Barbershop
CVSB4GR Camden City Camden 7,000$
$ 7,000
Dionicio Cab
CVSB4GR Camden City Camden 10,000$
$ 10,000
Politz Day School of Cherry Hill
CVSB4GR Cherry Hill Camden 20,000$
$ 20,000
BMF Ventures Inc
CVSB4GR Cherry Hill Township Camden 10,000$
$ 10,000
ANATOLIA ART & CRAFT STUDIO LIMITED
LIABILITY COMPANY
CVSB4GR Haddonfield Borough Camden 10,000$
$ 10,000
Ozzys Tux
CVSB4GR Haddonfield Borough Camden 10,000$
$ 10,000
C3 Maintenance LLC
CVSB4GR Merchantville Borough Camden 10,000$
$ 10,000
ESYU TRANSPORTATION LLC
CVSB4GR Voorhees Camden 10,000$
$ 10,000
Tonewood Brewing, LLC
CVSB2LO Barrington Borough Camden 75,000$
$ 75,000
Barson Business Solutions LLC
CVSB2LO Cherry Hill Township Camden 50,000$
$ 50,000
JKMAK SOLUTIONS LLC
CVSB2LO Clementon Borough Camden 25,200$
$ 25,200
New Jersey Farmers Cooperative a NJ Nonprofit
Corporation
CVSSNJGR North Cape May Cape May 1,454,845$
$ 1,454,845
The TenBrook Corporation, PC D/B/A TenBrook
Orthodontics
CVSB2LO Millville City Cumberland 50,000$
$ 50,000
Shaddai Accounting & Tax Services LLC
CVSB4GR Millville City Cumberland 10,000$
$ 10,000
Top level services by SC
CVSB4GR Vineland City Cumberland 10,000$
$ 10,000
Cesario Construction Co, INC
CVSB2GR Newark City Essex 1,000$
$ 1,000
Perinatal Health Equity Foundation Inc.
CVSB2LO East Orange City Essex 98,710$
$ 98,710
3
Northern Rock, LLC.
CVSB2LO Fairfield Essex 100,000$
$ 100,000
RIGHTCHOICE FINANCIAL SERVICES LIMITED
LIABILITY COMPANY
CVSB2LO Irvington Essex 32,500$
$ 32,500
PB Ventures I LLC
CVSB2LO Livingston Essex 97,344$
$ 97,344
Tandoori Chef Corp
CVSB2LO Maplewood Essex 70,000$
$ 70,000
Advanced Technologies for Novel Therapeutics,
LLC
CVSB2LO Millburn Essex 57,848$
$ 57,848
Brow Fix Studio And Spa LLC
CVSB2LO Montclair Essex 5,077$
$ 5,077
United Community Corporation
CVSB2LO Newark City Essex 61,488$
$ 61,488
0
Kurly Kurtosh LLC
CVSB2LO Nutley Essex 85,596$
$ 85,596
Essex Suites Companies LLC
CVSB2LO Verona Essex 75,000$
$ 75,000
The Room Verona LLC
CVSB2LO Verona Essex 85,000$
$ 85,000
Anchor Behavioral Solutions LLC
CVSB2LO West Orange Essex 50,000$
$ 50,000
God Grimsley on Demand
CVSB3GR Newark City Essex 5,000$
$ 5,000
ALBA TRANSPORTATION LLC
CVSB4GR Belleville Essex 10,000$
$ 10,000
Bunay Trucking
CVSB4GR Belleville Essex 10,000$
$ 10,000
The Sandbox Daycare
CVSB4GR Bloomfield Essex 10,000$
$ 10,000
Daraja of Love Inc.
CVSB4GR East Orange City Essex 10,000$
$ 10,000
Quiana Phillips, Sole Proprietor
CVSB4GR East Orange City Essex 10,000$
$ 10,000
VIP Outdoor Services LLc
CVSB4GR Fairfield Essex 10,000$
$ 10,000
Shulman and Newman MDs LLC
CVSB4GR Millburn Essex 15,000$
$ 15,000
Bautista pollantis, Hipólito A
CVSB4GR Montclair Essex 10,000$
$ 10,000
GUIDO SCRAP LLC
CVSB4GR Newark City Essex 10,000$
$ 10,000
Primera Iglesia Pentecostal Refugio de
Restauracion en Cristo
CVSB4GR Newark City Essex 10,000$
$ 10,000
IZ FAST LLC
CVSB4GR Newark City Essex 10,000$
$ 10,000
Azza Care Invalid Coach Inc.
CVSB4GR Orange Essex 15,000$
$ 15,000
Teani Home Improvement LLC
CVSB4GR Orange Essex 10,000$
$ 10,000
Platinum Dental Group Orange
CVSB4GR Orange Essex 15,000$
$ 15,000
SOAP FOR SINNERS LIMITED LIABILITY COMPANY
CVSB4GR West Orange Essex 10,000$
$ 10,000
Joseph Kushner Hebrew Academy, Inc.
CVSSNJGR Livingston Essex 206,961$
$ 206,961
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (COVID Projects)
Project
Product City County Amount Total Project Costs Est New Jobs
TONI'S KITCHEN, A FOOD MINISTRY OF ST. LUKE'S
EPISCOPAL CHURCH A NJ NONPROFIT
CORPORATION
CVSSNJGR Montclair Essex 734,638$
$ 734,638
The Foundation for University Hospital
CVSSNJGR Newark Essex 813,076$
$ 813,076
Front Line Appreciation Group of Millburn Short
Hills a NJ Nonprofit Corporation
CVSSNJGR Short Hills Essex 153,481$
$ 153,481
De Camp Bus Lines
CVBUSGR Montclair Essex 1,118,379$
$ 1,118,379
Innovative Foot and Ankle, PA f/k/a Daniel
Brandwein, DPM and Sean Kaufman, DPM, PA
CVSB2LO Montclair Essex 100,000$
$ 100,000
Aka Real Clothing and Custom Apparel
CVSB4GR Paulsboro Borough Gloucester 10,000$
$ 10,000
Sine Qua Non RE Advisors LLC
CVSB4GR Sewell Gloucester 10,000$
$ 10,000
Mamabuntz Donuts LLC
CVSB4GR Sewell Gloucester 10,000$
$ 10,000
Bradley's Hard Surface Cleaning LLC
CVSB4GR West Deptford Gloucester 10,000$
$ 10,000
DKI Of Medford, Voorhees & Williamstown
CVSB4GR Williamstown Gloucester 10,000$
$ 10,000
gurdittha gas llc
CVSB4GR Woodbury City Gloucester 10,000$
$ 10,000
In Style Hair Studio
CVSB2GR Jersey City Hudson 1,000$
$ 1,000
lucky&Moby LLC
CVSB2GR Secaucus Town Hudson 1,000$
$ 1,000
Glow hair salon
CVSB2GR West New York Town Hudson 1,000$
$ 1,000
Laura Kellett Realty Limited Liability Company
CVSB2LO Guttenberg Town Hudson 42,175$
$ 42,175
Aronson Enterprises LLC
CVSB2LO Hoboken City Hudson 35,000$
$ 35,000
Four Brothers Financial Limited Liability Company
CVSB2LO Jersey City Hudson 75,000$
$ 75,000
A.A.N Accounting & Multi-Service LLC
CVSB2LO Kearny Town Hudson 34,176$
$ 34,176
Nick Romanides DMD
CVSB3GR North Bergen Hudson 10,000$
$ 10,000
THE CHRIS S. OWENS FOUNDATION
CVSB4GR Bayonne City Hudson 10,000$
$ 10,000
Vintage on First Inc.
CVSB4GR Hoboken City Hudson 10,000$
$ 10,000
Foreva good Apperal llc
CVSB4GR Jersey City Hudson 10,000$
$ 10,000
Amors Boutique L.L.C
CVSB4GR Jersey City Hudson 10,000$
$ 10,000
J & G AUTOMOTIVE LLC
CVSB4GR Jersey City Hudson 10,000$
$ 10,000
Mi Casa Restaurant 2 Corps
CVSB4GR Jersey City Hudson 10,000$
$ 10,000
Bakh Yaye Reliable Trucking Inc
CVSB4GR Jersey City Hudson 10,000$
$ 10,000
ALI RAZA
CVSB4GR Jersey City Hudson 15,000$
$ 15,000
Nick Romanides DMD
CVSB4GR North Bergen Hudson 15,000$
$ 15,000
AMJ Express LLC
CVSB4GR North Bergen Hudson 10,000$
$ 10,000
Rubanco Transportation LLC
CVSB4GR Union City Hudson 10,000$
$ 10,000
STEVEN LE
CVSB4GR Union City Hudson 10,000$
$ 10,000
EBENEZER J & K CONSTRUCTION LLC
CVSB4GR Union City Hudson 10,000$
$ 10,000
Exclusive Laundry Services LLC
CVSB4GR Union City Hudson 10,000$
$ 10,000
Coalition for Food and Health Equity Inc.
CVSSNJGR Jersey City Hudson 1,454,845$
$ 1,454,845
Broadway Bus Owners Corp
CVBUSGR Bayonne City Hudson 249,372$
$ 249,372
Academy Lines, L.L.C.
CVBUSGR Hoboken City Hudson 5,118,751$
$ 5,118,751
A. C. M. CORP.
CVBUSGR Hoboken City Hudson 1,011,474$
$ 1,011,474
Port Imperial Ferry Corp.
CVBUSGR Weehawken Hudson 835,986$
$ 835,986
THE RIVER VIEW AT CLINTON FALLS VILLAGE, LLC
CVSB2LO Clinton Town Hunterdon 81,000$
$ 81,000
Provenance Organic Farm LLC
CVSB2LO Lebanon Borough Hunterdon 50,000$
$ 50,000
Yankee Public Relations LLC
CVSB4GR Alexandria Hunterdon 10,000$
$ 10,000
Leslie Siegel
CVSB4GR Annandale Hunterdon 10,000$
$ 10,000
Topline Farm LLC
CVSB4GR Asbury Hunterdon 10,000$
$ 10,000
System Stream, LLC
CVSB2GR Ewing Mercer 1,000$
$ 1,000
The Kink Centre LLC
CVSB2LO Lawrenceville Mercer 40,168$
$ 40,168
Symbiance Inc
CVSB2LO Princeton Borough Mercer 50,000$
$ 50,000
Spring Valley Real Estate LLC
CVSB4GR Ewing Mercer 10,000$
$ 10,000
Professional economical safe pest control
CVSB4GR Hamilton Mercer 10,000$
$ 10,000
BAHRIYE KILIC
CVSB4GR Hamilton Mercer 10,000$
$ 10,000
St. George Greek Orthodox Church of Trenton
CVSB4GR Hamilton Mercer 10,000$
$ 10,000
NIXON, JEFFREY W
CVSB4GR Hamilton Mercer 10,000$
$ 10,000
Empowerment House
CVSB4GR Trenton City Mercer 4,000$
$ 4,000
Manish Anand
CVSB4GR West Windsor Mercer 3,000$
$ 3,000
Mobile Meals of Trenton/Ewing, Inc.
CVSSNJGR Ewing Mercer 230,593$
$ 230,593
Share My Meals Inc.
CVSSNJGR Princeton Mercer 224,569$
$ 224,569
Rescue Mission of Trenton N J
CVSSNJGR Trenton Mercer 185,569$
$ 185,569
T.A.S.K., Inc.
CVSSNJGR Trenton Mercer 673,884$
$ 673,884
Soup Kitchen 411, Inc.
CVSSNJGR Mercer 1,454,845$
$ 1,454,845
The Glow Room LLC
CVSB2LO Trenton City Mercer 4,620$
$ 4,620
PDR & Assocs Inc
CVSB2GR East Brunswick Middlesex 1,000$
$ 1,000
Now Im Fit LLC
CVSB2LO East Brunswick Middlesex 50,000$
$ 50,000
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (COVID Projects)
Project
Product City County Amount Total Project Costs Est New Jobs
Frenchic LLC
CVSB2LO Metuchen Borough Middlesex 75,000$
$ 75,000
Sai Nath Dollar LLC
CVSB2LO
North Brunswick Township
Middlesex 75,000$
$ 75,000
Aleah Multi Services Center LLC
CVSB2LO Perth Amboy City Middlesex 50,000$
$ 50,000
Rexmonte Manager LLC
CVSB2LO Perth Amboy City Middlesex 45,000$
$ 45,000
Flooring Bazaar Limited Liability Company
CVSB2LO South Plainfield Borough Middlesex 32,000$
$ 32,000
ADVANCE HVAC LLC
CVSB4GR East Brunswick Middlesex 10,000$
$ 10,000
Studio 83 LLC
CVSB4GR Edison Middlesex 1,000$
$ 1,000
GENAO AUTO REPAIRS LLC
CVSB4GR Fords Middlesex 10,000$
$ 10,000
Total Life Changes
CVSB4GR Iselin Middlesex 10,000$
$ 10,000
Second Life Careers, LLC
CVSB4GR Metuchen Borough Middlesex 10,000$
$ 10,000
SUNFLOWER FAMILY DAYCARE LLC
CVSB4GR Monmouth Junction Middlesex 10,000$
$ 10,000
NexHome LLC
CVSB4GR Old Bridge Middlesex 10,000$
$ 10,000
flordeliz tineo
CVSB4GR Perth Amboy City Middlesex 10,000$
$ 10,000
ALTAGRACIA LARA
CVSB4GR Perth Amboy City Middlesex 10,000$
$ 10,000
ROBIN VASQUEZ GUZMAN
CVSB4GR Perth Amboy City Middlesex 10,000$
$ 10,000
BIENVENIDOAQUINO, JOSELLY
CVSB4GR Perth Amboy City Middlesex 10,000$
$ 10,000
ALMONTEMENA, MARIA S
CVSB4GR Perth Amboy City Middlesex 10,000$
$ 10,000
184 MARKET STREET LLC
CVSB4GR Perth Amboy City Middlesex 10,000$
$ 10,000
JONAHJ HOLDINGS
CVSB4GR Piscataway Middlesex 10,000$
$ 10,000
Walton Financial Services, LLC
CVSB4GR Piscataway Middlesex 10,000$
$ 10,000
Delossantos, Jessenia A
CVSB4GR South Plainfield Borough Middlesex 10,000$
$ 10,000
HMH Hospitals Corporation
CVSSNJGR Edison Middlesex 563,500$
$ 563,500
Metuchen Downtown Alliance A NJ Non Profit Co
CVSSNJGR Metuchen Borough Middlesex 542,621$
$ 542,621
Suburban Transit Corporation
CVBUSGR New Brunswick City Middlesex 2,251,106$
$ 2,251,106
ESCOBAR INSURANCE AND FINANCIAL SVCS INC
CVSB2LO Edison Middlesex 37,430$
$ 37,430
Nails Limited 2, LLC
CVSB2GR Aberdeen Monmouth 7,000$
$ 7,000
revo hair studio inc
CVSB2GR Middletown Monmouth 3,000$
$ 3,000
Geoponica Greens LLC
CVSB2LO Allenhurst Borough Monmouth 12,000$
$ 12,000
Duffy Financial Group, LLC
CVSB2LO Eatontown Borough Monmouth 75,000$
$ 75,000
Shoe Palace LLC
CVSB2LO Howell Monmouth 100,000$
$ 100,000
Creative Collab Ltd Liability CO
CVSB2LO Keyport Borough Monmouth 36,639$
$ 36,639
Alexia Tsakiris LLC
CVSB2LO Little Silver Borough Monmouth 18,894$
$ 18,894
GOOD BOY GOOD GIRL LLC
CVSB2LO Manalapan Monmouth 50,000$
$ 50,000
Rocco Penta Sons Plumbing & Heating LLC
CVSB3GR Oakhurst Monmouth 5,000$
$ 5,000
CTR towing & recovery llc
CVSB4GR Aberdeen Monmouth 10,000$
$ 10,000
Jeam Marketing & Lead Managment LLC
CVSB4GR Marlboro Monmouth 10,000$
$ 10,000
Davitty LLC
CVSB4GR Marlboro Monmouth 10,000$
$ 10,000
PEDI-LICIOUS LIMITED LIABILITY COMPANY
CVSB4GR Morganville Monmouth 10,000$
$ 10,000
Rocco Penta & Sons Plumbing Heating LLC
CVSB4GR Oakhurst Monmouth 10,000$
$ 10,000
RESORT ASSOCIATES, L.L.C.
CVSB4GR Sea Girt Borough Monmouth 15,000$
$ 15,000
Chef Lou’s Army Inc
CVSSNJGR Manasquan Borough Monmouth 884,384$
$ 884,384
The FoodBank of Monmouth and Ocean
Counties, Inc.
CVSSNJGR Neptune Monmouth 884,384$
$ 884,384
The Adult School of The Chathams, Madison &
Florham Park
CVSB2GR Madison Borough Morris 4,000$
$ 4,000
Powerzone Volleyball Inc.
CVSB2LO Denville Morris 75,000$
$ 75,000
Morris Driving School Limited Liability Company
CVSB2LO Dover Town Morris 50,000$
$ 50,000
Central 15 Chef LLC
CVSB2LO Madison Borough Morris 100,000$
$ 100,000
Brain Health Neuropsychology LLC
CVSB2LO Parsippany-troy Hills Morris 70,627$
$ 70,627
Cesario Construction Co., Inc
CVSB3GR East Hanover Morris 5,000$
$ 5,000
BellaMe Boutique
CVSB4GR Budd Lake Morris 10,000$
$ 10,000
Carol J Mott
CVSB4GR East Hanover Morris 10,000$
$ 10,000
Jessica Sanchez
CVSB4GR Parsippany-troy Hills Morris 10,000$
$ 10,000
LORENZA VIDRIS LLC
CVSB4GR Pine Brook Morris 7,000$
$ 7,000
Just dance academy, llc
CVSB4GR Pine Brook Morris 10,000$
$ 10,000
POWER CHANGES LIVES INC
CVSSNJGR Morris Plains Borough Morris 1,454,845$
$ 1,454,845
Morristown Rotary Club Endowment Fund Inc
CVSSNJGR Morristown Morris 214,092$
$ 214,092
Community Foundation of New Jersey
CVSSNJGR Morristown Morris 1,454,845$
$ 1,454,845
Lakeland Bus Lines Inc.
CVBUSGR Dover Town Morris 1,358,150$
$ 1,358,150
MILLENIUM COSMETICS LIMITED LIABILITY
COMPANY
CVSB2LO Rockaway Morris 50,000$
$ 50,000
CJ Lasso Corporation
CVSB2LO Rockaway Morris 50,000$
$ 50,000
Speedy Press USA Limited Liability Company
CVSB2LO Lakewood Ocean 100,000$
$ 100,000
Arosa Trading Limited Liability Co
CVSB2LO Lakewood Ocean 100,000$
$ 100,000
Bright Start Nursery & Preschool LLC
CVSB2LO Lanoka Harbor Ocean 35,000$
$ 35,000
Opal and Olive LLC
CVSB2LO
Point Pleasant Beach Borou
Ocean 49,700$
$ 49,700
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (COVID Projects)
Project
Product City County Amount Total Project Costs Est New Jobs
Sage Wellness Center L.L.C.
CVSB2LO Toms River Ocean 50,000$
$ 50,000
Morph Mentoring LLC
CVSB2LO Toms River Ocean 59,230$
$ 59,230
Angel Healthcare Foundation A NJ Non-Profit
Corporation
CVSB4GR Jackson Ocean 10,000$
$ 10,000
Oktay Banilov
CVSB4GR Lakewood Ocean 10,000$
$ 10,000
Talmud Torah of Lakewood
CVSB4GR Lakewood Ocean 15,000$
$ 15,000
Pizza on Wheels LLC
CVSB4GR Lakewood Ocean 10,000$
$ 10,000
Malya's Speech Therapy
CVSB4GR Lakewood Ocean 10,000$
$ 10,000
Heichal Menachem of Lakewood
CVSB4GR Lakewood Ocean 10,000$
$ 10,000
Schianos pizza
CVSB4GR Lanoka Harbor Ocean 10,000$
$ 10,000
BAGEL BISTRO & GRILLE, LLC
CVSB4GR Toms River Ocean 10,000$
$ 10,000
A Need We Feed Inc.
CVSSNJGR Island Heights Borough Ocean 313,923$
$ 313,923
New Jersey Chaplains Association a NJ Nonprofit
Corporation
CVSSNJGR Lakewood Ocean 313,923$
$ 313,923
Tomchei Shabbos D'Lakewood
CVSSNJGR Lakewood Ocean 1,454,845$
$ 1,454,845
Cong Bnos Devorah Inc
CVSSNJGR Lakewood Ocean 955,692$
$ 955,692
Avita Home Care LLC
CVSB2LO Toms River Ocean 90,000$
$ 90,000
Amazin Kids Paradise Academy
CVSB2GR Paterson City Passaic 1,000$
$ 1,000
Unique Style
CVSB2GR Paterson City Passaic 1,000$
$ 1,000
MEXICO MAGICO INC
CVSB2LO Passaic City Passaic 39,200$
$ 39,200
Pro-tek Truck Body Repair LLC
CVSB2LO Paterson City Passaic 65,000$
$ 65,000
Dieu Enterprise LLC
CVSB4GR Clifton Passaic 10,000$
$ 10,000
New Destinity Moving Services LLC
CVSB4GR Clifton City Passaic 10,000$
$ 10,000
chelas restaurant & bar
CVSB4GR Little Falls Passaic 10,000$
$ 10,000
Garden Supermarket 1
CVSB4GR Passaic City Passaic 10,000$
$ 10,000
NECLA AKCAY TASCI LLC
CVSB4GR Paterson City Passaic 10,000$
$ 10,000
Mariela urena
CVSB4GR Paterson City Passaic 10,000$
$ 10,000
YOUNG AVIATORS FOUNDATION
CVSB4GR Paterson City Passaic 10,000$
$ 10,000
Rosmira's Exclusive 99 & up Super Store
CVSB4GR Paterson City Passaic 10,000$
$ 10,000
Odei Shalabi
CVSB4GR Paterson City Passaic 10,000$
$ 10,000
Allstar Services Corp
CVSB4GR Paterson City Passaic 10,000$
$ 10,000
Fox Trucking LLC
CVSB4GR Pompton Lakes Borough Passaic 10,000$
$ 10,000
Elite optical, pc
CVSB4GR Totowa Borough Passaic 10,000$
$ 10,000
Maxima Invest LLC
CVSB4GR Wayne Passaic 10,000$
$ 10,000
ARC Automotive, LLC.
CVSB4GR Wayne Passaic 10,000$
$ 10,000
LA BRUNA CHRISTINE A
CVSB4GR Wayne Passaic 3,000$
$ 3,000
Eva's Village, Inc.
CVSSNJGR Paterson City Passaic 1,078,797$
$ 1,078,797
Mid-Atlantic States Career and Education Center
Inc.
CVSSNJGR Pennsville Salem 420,884$
$ 420,884
Amarje LLC
CVSB2LO Martinsville Somerset 100,000$
$ 100,000
Adorbs Inc
CVSB2LO Warren Somerset 92,500$
$ 92,500
Apparel Solutions Inc.
CVSB2LO Warren Somerset 100,000$
$ 100,000
Gaea LLC
CVSB2LO Warren Somerset 100,000$
$ 100,000
Julia K LLC
CVSB2LO Warren Somerset 97,000$
$ 97,000
Nicole S Riley
CVSB4GR Basking Ridge Somerset 10,000$
$ 10,000
SRI JEWELLERS
CVSB4GR Belle Mead Somerset 10,000$
$ 10,000
A&C 500 MAIN STREET LLC
CVSB4GR Raritan Borough Somerset 10,000$
$ 10,000
Renato Transport Services LLC
CVSB4GR Somerset Somerset 5,000$
$ 5,000
Lois E. Shulman MD
CVSB4GR Somerset Somerset 10,000$
$ 10,000
Jerrold N. Kaminsky, Counsellor at Law
CVSB4GR Somerset Somerset 8,500$
$ 8,500
Barros, Carlos
CVSB4GR Warren Somerset 10,000$
$ 10,000
GREEN LIFE LAWN SERVICES LLC
CVSB2GR Stanhope Borough Sussex 1,000$
$ 1,000
Jeffrey Miller catering Co
CVSB4GR Byram Sussex 15,000$
$ 15,000
Medchanics LLC
CVSB4GR Highland Lake Sussex 10,000$
$ 10,000
Hudson Transit Lines, Inc
CVBUSGR To Be Determined
To Be Determin
5,139,468$
$ 5,139,468
Trans-Bridge Inc
CVBUSGR To Be Determined
To Be Determin
2,482,659$
$ 2,482,659
RJ Dental LLC / RJ Dental Roselle
CVSB2GR Roselle Borough Union 1,000$
$ 1,000
TMA GENERAL CONTRACTING LIMITED LIABILITY
COMPANY
CVSB2LO Berkeley Heights Union 25,000$
$ 25,000
THE BEAUTY SUPPLY AUTHORITY, Inc.
CVSB2LO Elizabeth City Union 50,000$
$ 50,000
Gigi's City Kitchen LLC
CVSB2LO Rahway City Union 16,500$
$ 16,500
NB Home Improvements LLc
CVSB2LO Union Union 71,398$
$ 71,398
De Paul Hair Designs, Inc.
CVSB4GR Berkeley Heights Union 10,000$
$ 10,000
jose Rodriguez
CVSB4GR Elizabeth City Union 10,000$
$ 10,000
MATHEUESCALONA, REY
CVSB4GR Elizabeth City Union 10,000$
$ 10,000
PLAY TIME NURSERY FAMILY CHILDCARE LLC
CVSB4GR Elizabeth City Union 10,000$
$ 10,000
Torresgarzon,Paola C
CVSB4GR Elizabeth City Union 10,000$
$ 10,000
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
2022 Annual Report
Complete Project List (COVID Projects)
Project
Product City County Amount Total Project Costs Est New Jobs
EXCELTIOR GROUP INC.
CVSB4GR Linden City Union 10,000$
$ 10,000
GOOD SAMARITAN COMMUNITY CENTER A NJ
NONPROFIT CORPORATION
CVSB4GR Linden City Union 10,000$
$ 10,000
Foundation Insurance Services, LLC
CVSB4GR North Plainfield Borough Union 10,000$
$ 10,000
Heirline LLC
CVSB4GR Plainfield City Union 10,000$
$ 10,000
Arch Angels NJ LLC
CVSB4GR Rahway City Union 10,000$
$ 10,000
CORNEJO, IVONE A
CVSB4GR Roselle Park Borough Union 10,000$
$ 10,000
BABIES IN MOTIONS
CVSB4GR Union Union 20,000$
$ 20,000
Amixx Music Inc
CVSB4GR Union Union 10,000$
$ 10,000
Two Ques Cafe
CVSB4GR Union Union 10,000$
$ 10,000
The Summit Foundation a NJ Nonprofit
Corporation
CVSSNJGR Summit Union 349,748$
$ 349,748
Olympia Trails Bus Company, Inc
CVBUSGR Elizabeth City Union 855,613$
$ 855,613
Orange, Newark, Elizabeth Bus, Inc
CVBUSGR Elizabeth City Union 1,792,373$
$ 1,792,373
Born A And Family LLC
CVSB2GR Phillipsburg Town Warren 1,000$
$ 1,000
The Owl’s Nest Childcare Center, Inc.
CVSB2LO Blairstown Warren 30,438$
$ 30,438
Highlands Treatment Center LLC
CVSB2LO Washington Warren 90,000$
$ 90,000
Paul Good Properties LLC
CVSB4GR Phillipsburg Town Warren 10,000$
$ 10,000
322 projects
54,772,613$
$ 54,762,613
Additional Reporting
Local Development Financing Fund (LDFF) - This special depository fund was created in 1983. The funds may be used for projects in eligible
municipalities that meet certain capital expenditure and other legislative requirements. Projects require Board approval. No projects were
funded by NJEDA in 2022.
Startup Business and Non-Profit Assistance Program – Effective June 22, 2021, the legislature appropriated $25 million to support new
businesses and nonprofit organizations following the COVID-19 pandemic. No funds were expended in 2021. The NJEDA Board approved
eligibility criteria in 2022 and the program launched in 2023.
Municipal Rehabilitation and Economic Recovery Act funds are fully committed and not available for disbursement. The State Economic
Recovery Board of Camden is currently inactive.
Hazardous Discharge Site Remediation Fund and Petroleum Underground Storage Tank Program reports are issued separately, in cooperation
with New Jersey Department of Environmental Protection (NJ DEP).
Veterans Information Sessions – The NJEDA engages regularly with the Veterans Chamber of NJ and other Veteran focused state and non-profit
entities to deliver presentations and otherwise provide information on resources for veteran-owned businesses. Sustain and Serve NJ, Small
Business Emergency Assistance Grant, and Community Stage Program reports are all available on Public Information - NJEDA (see “Reports”
tab).
Food Desert Relief Programs – No projects were funded in 2022
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
(A COMPONENT UNIT OF THE STATE OF NEW JERSEY)
FINANCIAL STATEMENTS AND
REQUIRED SUPPLEMENTARY INFORMATION
YEARS ENDED DECEMBER 31, 2022 AND 2021
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Financial Statements
Years Ended December 31, 2022 and 2021
Table of Contents
Independent Auditors’ Report…………………………………………………………………………………….. 1
Management’s Discussion and Analysis………………………………………………………………………… 4
Basic Financial Statements:
Statements of Net Position ……………………………………………………………………………………….. 13
Statements of Revenues, Expenses and Changes in Net Position……………………………………….….. 15
Statements of Cash Flows………………………….…………………………………………………………….. 16
Statements of Fiduciary Net Position…………………………………………… ……………………………… 18
Statements of Changes in Fiduciary Net Position……………………………………………………………… 19
Notes to Financial Statements……………………………………..………………………..…………………… 20
Required Supplementary Information:
Schedule of Changes in the Authority’s Net OPEB Liability and Related Ratios…………………………… 59
Schedule of the Authority’s OPEB Contributions………………………………………………………………. 60
Schedule of Investment Returns – Employee Benefit Trust………………………………………………….. 61
Notes to Schedule of the Authority’s OPEB Contributions…………………………………………………… 62
Schedule of the Authority’s Proportionate Share of the Net Pension Liability……………………………… 63
Schedule of the Authority’s Contributions to the Public Employees’ Retirement System (PERS)……….. 64
Notes to Schedule of the Authority’s Contributions to the Public Employees’
Retirement System (PERS)……………………………………………………………………..………….. 65
INDEPENDENT AUDITORS’ REPORT
Management and Members
of the New Jersey Economic Development Authority
Trenton, New Jersey
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the business-type activities and fiduciary fund of the New
Jersey Economic Development Authority, (“the Authority”), a component unit of the State of New Jersey,
as of and for the years ended December 31, 2022 and 2021, and the related notes to the financial
statements, which collectively comprise the Authority’s basic financial statements as listed in the table
of contents.
In our opinion, the accompanying financial statements referred to above present fairly, in all material
respects, the respective financial position of the business-type activities and fiduciary fund, of the
Authority, as of December 31, 2022 and 2021, and the respective changes in financial position and,
where applicable, cash flows thereof for the years then ended in accordance with accounting principles
generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America (“GAAS”). Our responsibilities under those standards are further described in the Auditors’
Responsibilities for the Audit of the Financial Statements section of our report. We are required to be
independent of the Authority, and to meet our other ethical responsibilities, in accordance with the
relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our audit opinions.
Change in Accounting Principle
We draw attention to Notes 2 and 14 in the notes to financial statements which disclose the effects of
the Authority’s adoption of the provisions of Governmental Accounting Standards Board (“GASB”)
Statement No. 87, “Leases”. Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
PKF O’CONNOR DAVIES, LLP
20 Commerce Drive, Suite 301, Cranford, NJ 07016 I Tel: 908.272.6200 I Fax: 908.272.2416 I www.pkfod.com
PKF O’Connor Davies, LLP is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or
liability for the actions or inactions on the part of any other individual member firm or firms.
1
Management and Members of
New Jersey Economic Development Authority
Trenton, New Jersey
Page 2
In preparing the financial statements, management is required to evaluate whether there are conditions
or events, considered in the aggregate, that raise substantial doubt about the Authority's ability to
continue as a going concern for twelve months beyond the financial statement date, including any
currently known information that may raise substantial doubt shortly thereafter.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute
assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will
always detect a material misstatement when it exists. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control. Misstatements are
considered material if there is a substantial likelihood that, individually or in the aggregate, they would
influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Authority's internal control. Accordingly, no such opinion is
expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• Conclude whether, in our judgement, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the Authority’s ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control-related
matters that we identified during the audit.
2
Management and Members of
New Jersey Economic Development Authority
Trenton, New Jersey
Page 3
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that Management’s
Discussion and Analysis and the schedules included under Required Supplementary Information in the
accompanying table of contents be presented to supplement the basic financial statements. Such
information is the responsibility of management and, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management’s responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic
financial statements. We do not express an opinion or provide any assurance on the information
because the limited procedures do not provide us with sufficient evidence to express an opinion or
provide any assurance.
Cranford, New Jersey
December 6, 2023
3
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
This section of the New Jersey Economic Development Authority’s (“Authority” or “NJEDA”) annual
financial report presents management’s discussion and analysis of the Authority’s financial
performance during the fiscal years ended on December 31, 2022 and 2021. Please read it in
conjunction with the Authority’s financial statements and accompanying notes.
OVERVIEW OF THE FINANCIAL STATEMENTS
This annual financial report consists of three parts: Management’s Discussion and Analysis, the basic
financial statements, and required supplementary information. The Authority is a self-supporting entity
and follows enterprise fund reporting; accordingly, the financial statements are presented using the
economic resources measurement focus and the accrual basis of accounting. Enterprise fund
statements offer short and long-term financial information about the activities and operations of the
Authority. These statements are presented in a manner similar to a private business engaged in such
activities as real estate development, investment banking, commercial lending, construction
management and consultation. While detailed sub-fund information is not presented, separate
accounts are maintained for each program or project to control and manage money for particular
purposes or to demonstrate that the Authority is properly using specific appropriations, grants and
bond proceeds.
2022 FINANCIAL HIGHLIGHTS
• The Authority’s total net position increased $352.9 million (or 40.0%) primarily due to receipt
of State appropriations for new economic development initiatives and Federal American
Rescue Plan Act funds for COVID-19 emergency assistance programs, all of which had not
been disbursed before the end of the year.
• Real Estate Development fees increased $3.2 million (or 283.6%) due to fees earned in
connection with the Wind Port initiative.
• Interest income from investments increased $3.4 million (or 89.6%) due to an increase in
interest rates coupled with an increase in cash.
• The net pension liability increased $15.1 million (or 45.0%) while administrative expenses
increased $21.7 million (or 65.1%) due to a change in the Authority’s proportionate share of
the State of New Jersey’s net pension liability, coupled with an increase in expenses related
to the administration of new initiatives.
• Program costs increased $3.5 million (or 19.1%) due largely to increased expenditures for the
administration of new initiatives.
• State and Federal appropriations decreased $288.9 million (or 35.3%) and program payments
decreased $328.0 million (or 72.5%) due largely to the timing of receipt and subsequent
disbursement of various state and federal funds for business emergency assistance and
economic recovery programs during and in the aftermath of COVID-19.
4
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
2021 FINANCIAL HIGHLIGHTS
• The Authority’s total net position increased $338.8 million (or 62.9%) primarily due to receipt
of State appropriations and Federal CARES Act funds for COVID-19 emergency assistance
programs, all of which had not been disbursed before the end of the year.
• The net pension liability decreased $6.5 million (or 16.3%) while administrative expenses
decreased $4.7 million (or 12.1%) due to a change in the Authority’s proportionate share of
the State of New Jersey’s net pension liability.
• Program costs increased $2.2 million (or 13.9%) due largely to increased expenditures for the
administration of initiatives related to the COVID-19 pandemic.
• Interest income from investments decreased $4.6 million (or 54.7%) due to a significant
decline in interest rates related to the economic effects of COVID-19.
• State and Federal appropriations increased $510.8 million (or 166.4%) and program
payments increased $205.2 million (or 83.2%) due largely to the receipt and subsequent
disbursement of CARES Act funds for business emergency assistance and economic
recovery programs during and in the aftermath of COVID-19.
5
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
FINANCIAL ANALYSIS OF THE AUTHORITY
Net Position. The following table summarizes the changes in Net Position at December 31, 2022,
2021 and 2020:
2021 2020
2022 (Restated) (Restated) 2022/2021 2021/2020
Assets:
Other assets $ 1,161,400,723 $ 930,730,190 $ 621,298,589 24.8% 53.6%
Capital assets, net 213,902,722 66,631,587 50,321,242 221.0% 28.3%
Total assets 1,375,303,445 997,361,777 671,619,831 37.9% 51.6%
Deferred outflows of resources:
Deferred outflow related to pension 16,837,062 11,149,517 8,244,673 51.0% 35.2%
Deferred outflow related to OPEB 5,467,319 521,262 948.9% 100.0%
Total deferred outflows of resources
22,304,381 11,670,779 8,244,673 91.1% 41.6%
Liabilities:
Current liabilities 49,284,762 13,236,321 14,344,401 272.3% -11.7%
Net pension liability 48,534,257 33,482,997 40,017,678 45.0% -16.3%
Other noncurrent liabilities 16,476,577 11,326,435 11,136,000 45.5% 1.7%
Total liabilities 114,295,596 58,045,753 65,498,079 96.9% -11.4%
Deferred inflows of resources:
Deferred inflow related to pension 7,826,405 21,497,619 17,682,219 -63.6% 21.6%
Deferred inflow related to OPEB 14,569,124 17,330,212 19,775,859 -15.9% -12.4%
Deferred inflow related to Leases 30,021,819 34,154,392 37,687,962 -12.1% -9.4%
Total deferred inflows of resources
52,417,348 72,982,223 75,146,040 -28.2% 3.7%
Net position:
Net investment in capital assets 205,120,541 64,292,835 50,321,242 219.0% 28.3%
Restricted 33,217,633 32,369,782 31,401,070 2.6% 3.1%
Unrestricted 992,556,708 781,341,963 457,498,073 27.0% 70.8%
Total net position $ 1,230,894,882 $ 878,004,580 $ 539,220,385 40.2% 62.9%
% Increase/(Decrease)
6
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
During 2022, the Authority’s combined net position increased by $352.9 million due to:
$ 103.0
Million
State appropriations to the Authority Economic Recovery Fund – net of
program payments, for various economic initiatives, including Strategic
Innovation Centers; Small Business Emergency Assistance; and Regional
Greenhouse Gas Initiative
$ 20.2
Million
Federal CARES Act appropriations received for COVID-19 programs – net of
disbursements
$ 261.4
Million
Increase in State appropriations for Wind Port initiative construction in
progress – net of scheduled depreciation on other Authority capital assets
$ (15.2)
Million
Program disbursements relating to Authority brownfield initiatives
$ (16.5)
Million
Net disbursements relating to other Authority programs
During 2021, the Authority’s combined net position increased by $338.8 million due to:
$ 317.3
Million
State appropriations to the Authority Economic Recovery Fund – net of
program payments, for various economic initiatives, including Main Street
Recovery; Small Business Emergency Assistance; and Offshore Wind
$ 14.4
Million
Federal CARES Act appropriations received for COVID-19 programs – net of
disbursements
$ 14.2
Million
Increase in State appropriations for Wind Port initiative construction in
progress – net of scheduled depreciation on other Authority capital assets
$ (7.11)
Million
Net disbursements relating to other Authority programs
Operating Activities. The Authority charges financing fees that may include an application fee,
commitment fee, closing fee, document execution fee and an annual servicing fee. The Authority also
charges an agency fee for the administration of financial programs for various government agencies;
a program service fee for the administration of Authority programs that are service provider based,
rather than based on the exchange of assets such as the commercial lending program; and a real
estate development fee for real estate activities undertaken on behalf of governmental entities and
commercial enterprises. The Authority may also generate a return on investments in venture capital
funds which invest, in whole or in part, in New Jersey based businesses. Interest income on
investments, notes and intergovernmental obligations is recognized as earned. Grant revenue is
earned when the Authority has complied with the terms and conditions of the grant agreements. The
Authority also earns income from operating leases and interest income on lease revenue from capital
lease financings. Late fees are charged to borrowers who are delinquent in their monthly loan
payments. All forms of revenue accrue to the benefit of the program for which the underlying source
of funds is utilized. The Authority considers all activity to be operating activities, except as described
in the following section.
7
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
Non-Operating Activities. The Authority earns interest on idle cash and investments and may derive
income from the sale of capital assets, as well as the receipt of state and federal appropriations which
are used to administer specific programs on behalf of the State of New Jersey, and which directly
benefit New Jersey based businesses. The Authority considers this activity to be non-operating in
nature.
The following table summarizes the changes in operating and non-operating activities between fiscal
years 2022, 2021 and 2020:
2021 2020
2022 (Restated) (Restated) 2022/2021 2021/2020
Operating revenues:
Financing fees 4,545,292$ 5,379,598$ 4,785,032$ -15.5% 12.4%
Lease revenue 8,394,798 9,137,042 9,075,335 -8.1% 0.7%
Interest income:
Notes and Leases 6,262,048 5,912,966 6,100,777 5.9% -3.1%
Other 14,698,487 12,876,669 11,948,098 14.1% 7.8%
Total operating revenues 33,900,625 33,306,275 31,909,242 1.8% 4.4%
Operating expenses:
Administrative expenses 55,050,289 33,347,877 38,431,725 65.1% -13.2%
Interest expense 453,422 158,652 24,033 185.8% 560.1%
Depreciation 3,500,402 3,983,605 4,103,579 -12.1% -2.9%
Lease Amortization 873,202 525,406 66.2% 100.0%
Loss provisions – net 1,205,012 2,935,491 13,084,927 -59.0% -77.6%
Program costs 21,694,045 18,209,082 15,984,593 19.1% 13.9%
Total operating expenses 82,776,372 59,160,113 71,628,857 39.9% -17.4%
Operating (loss) (48,875,747) (25,853,838) (39,719,615) 89.0% -34.9%
Nonoperating revenues and (expenses):
Interest income – investments 7,242,924 3,820,732 8,429,718 89.6% -54.7%
State and Federal appropriations 528,826,277 817,722,311 306,967,921 -35.3% 166.4%
Program payments (123,844,344) (451,866,149) (246,715,423) -72.6% 83.2%
Other (expense) revenue
(10,458,808) (5,038,861) 1,399,181
107.6% -460.1%
Total nonoperating revenues and (expenses), net 401,766,049 364,638,033 70,081,397
10.2% 420.3%
Change in net position 352,890,302 338,784,195 30,361,782
4.2% 1015.8%
Beginning net position 878,004,580 539,220,385 508,858,603
Ending net position 1,230,894,882$ 878,004,580$ 539,220,385$
% Increase/(Decrease)
8
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
Operating Revenues
In 2022, the Authority’s operating revenues increased minimally from the prior year as slight
decreases in finance fees and interest income on notes were offset by increases in operating lease
revenue, program services fees and real estate development fees as new initiatives began during the
year, including progress on the Wind Port.
In 2021, the Authority’s operating revenues increased from the prior year as slight increases in
financing fees and operating lease revenue were offset by decreases in real estate development fees
as specific State of New Jersey office building projects the Authority managed, came to their
conclusion.
Operating Expenses
In 2022, total operating expenses increased largely as a result of increases in both general and
administrative expenses and program costs, the former due to an increase in the Authority’s
proportionate share of the State of New Jersey’s pension liability and the latter related to the
administration of new programs. Loss provisions expense decreased due to scheduled paydowns
within the Authority’s revolving loan portfolio.
In 2021, total operating expenses decreased largely as a result of two line items. Loss provisions
expense decreased as a result of an unanticipated early payoff of a significant loan within the
Authority’s revolving loan portfolio, while administrative expenses decreased due to a decline in the
Authority’s proportionate share of the State of New Jersey’s pension liability.
Non-Operating Revenues and Expenses – Net
In 2022, non-operating revenues and expenses – net, increased by $37.1 million, due to the timing
of receipts and disbursements of federal CARES Act appropriations and state appropriations related
to both the Stronger NJ Business programs and the Offshore Wind initiative. This more than offset
smaller decreases in both interest on investments related to a decline in interest rates, and an
unrealized loss on investment securities due to efforts to take advantage of higher-yielding, longer
maturity investments consistent with the Authority’s investment guidelines.
In 2021, non-operating revenues and expenses – net, increased by $294.5 million, due to the timing
of receipts and disbursements of federal CARES Act appropriations and state appropriations related
to both the Stronger NJ Business programs and the Offshore Wind initiative. This more than offset
smaller decreases in both interest on investments related to a decline in interest rates, and an
unrealized loss on investment securities due to efforts to take advantage of higher-yielding, longer
maturity investments consistent with the Authority’s investment guidelines.
9
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
Allowance for Credit Losses
Allowances for doubtful notes and guarantee payments are determined in accordance with guidelines
established by the Office of the Comptroller of the Currency. The Authority accounts for its potential
loss exposure through the use of risk ratings.
These specifically assigned risk ratings are updated to account for changes in financial condition of
the borrower or guarantor, delinquent payment history, loan covenant violations, and changing
economic conditions. The assigned risk rating classifications are consistent with the ratings used by
the Office of the Comptroller of the Currency. Each risk rating is assigned a specific loss factor in
accordance with the severity of the classification. Each month an analysis is prepared using the
current loan balances, existing exposure on guarantees, and the assigned risk rating to determine
the adequacy of the reserve. Any adjustments needed to adequately provide for potential credit losses
(recoveries) are reported as a Loss Provision (Recovery).
The following table summarizes the Loan Allowance activity for the end of the period from
December 31, 2020 through December 31, 2022:
2020 Provision for credit losses-net 11,889,388$
2020 Write-offs (5,538,442) 6,350,946$
December 31, 2020
Allowance for loan losses 34,226,582
Accrued guarantee losses 4,510,253
Total allowance 38,736,835
2021 Provision for credit losses-net 2,605,851
2021 Write-offs (2,241,145) 364,706
December 31, 2021
Allowance for loan losses 35,245,633
Accrued guarantee losses 3,855,908
Total allowance 39,101,541
2022 Provision for credit losses-net 1,396,121
2022 Write-offs (664,518) 731,603
December 31, 2022
Allowance for loan losses 36,119,127
Accrued guarantee losses 3,714,017
Total allowance 39,833,144$
10
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
When management determines that the probability of collection is less than 50% of the remaining
balance, it is the policy to assign a loss rating to the account. For an account rated as loss, a loss
provision is recognized for the entire loan balance.
Loans are written-off against the loss allowance when it is determined that the probability of collection
within the near term is remote. The recognition of a loss does not automatically release the borrower
from the obligation to pay the debt. Should the borrower, guarantors, or collateral position improve in
the future, any and all steps necessary to preserve the right to collect these obligations will be taken.
Aggregate gross loan and guarantee exposure at December 31, 2022 was $222,308,062, of which
$210,969,483 or 95% is for loans and $11,338,579 for issued loan guarantees.
Aggregate gross loan and guarantee exposure at December 31, 2021 was $237,317,970, of which
$225,707,391 or 95% is for loans and $11,610,579 for issued loan guarantees.
At December 31, 2022, the Authority maintained a Credit Loss Allowance of $39,833,144 or 17.9%
of total exposure to cover potential losses in the loan and guaranty portfolio. Total write-offs for the
year ended December 31, 2022, were $731,603 or 0.3% of the loan and guaranty exposure.
At December 31, 2021, the Authority maintained a Credit Loss Allowance of $39,101,541 or 16.4%
of total exposure to cover potential losses in the loan and guaranty portfolio. Total write-offs for the
year ended December 31, 2021, were $2,241,145 or 0.9% of the loan and guaranty exposure.
The Authority is a limited partner in various early stage venture funds with the purpose of providing
venture capital to exceptionally talented entrepreneurs to facilitate the growth of these companies.
These investments are accounted for using the cost basis as they do not have a readily determinable
market value. The Authority will establish a valuation allowance for these investments when they
determine through a series of events that an other-than-temporary decrease in value has occurred.
The 2022 Loss Provisions – Net, of $1.0 million, are related to the following detailed information:
1,396,121$ Loan and Guarantee Program activity
(414,991)$ Venture Capital Funds and Capital Investments
The 2021 Loss Provisions – Net, of $2.6 million, are related to the following detailed information:
2,605,851$ Loan and Guarantee Program activity
(975)$ Venture Capital Funds and Capital Investments
11
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Management’s Discussion and Analysis
Years Ended December 31, 2022 and 2021
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets. The Authority independently, or in cooperation with a private or governmental entity,
acquires, invests in and/or develops vacant industrial sites, existing facilities, unimproved land,
equipment and other real estate for private or governmental use. Sites developed, and equipment
purchased for private use are marketed or leased to businesses that will create new job opportunities
and tax ratables for the municipalities. Sites are developed for governmental use for a fee and also
may be leased to the State or State entities. For the majority of these leases, future minimum lease
rental payments are equal to the debt service payments related to the bonds or notes issued for the
applicable property. The following table summarizes the change in Capital Assets-Net between fiscal
year 2022, 2021 and 2020:
2021 2020
2022 (Restated) (Restated) 2022/2021 2021/2020
Land $ 49,505,422 $ 28,818,065 $ 28,818,065 71.8% 0.0%
Construction in progress 142,787,327 18,982,051 800,253 652.2% 2272.0%
Total non-depreciable
capital assets 192,292,749 47,800,116 29,618,318 302.3% 61.4%
Building 81,722,446 81,722,446 81,722,446 0.0% 0.0%
Capital asset right to use lease 8,242,703 2,598,678 2,598,678 217.2% 0.0%
Leasehold improvements 36,755,662 36,646,188 36,306,634 0.3% 0.9%
Total depreciable/amortizable
capital assets 126,720,811 120,967,312 120,627,758 4.8% 0.3%
Less accumulated depreciation/
amortization (105,110,838) (102,135,841) (97,626,830) 2.9% 4.6%
Capital assets – net $ 213,902,722 $ 66,631,587 $ 52,619,246 221.0% 26.6%
% Increase/(Decrease)
More detailed information about the Authority’s capital assets is presented in the Notes to the financial
statements.
Capital Debt. At year end, the Authority had no gross note principal outstanding; unchanged from
the prior year.
CONTACTING THE AUTHORITY’S FINANCIAL MANAGEMENT
This financial report is designed to provide New Jersey citizens, and our customers, clients, investors
and creditors, with a general overview of the Authority’s finances and to demonstrate the Authority’s
accountability for the appropriations and grants that it receives. If you have questions about this report
or need additional information, contact Customer Care at (609) 858-6700,
CustomerCare@njeda.com, NJEDA, P.O. Box 990, Trenton, NJ 08625-0990, or visit our web site at:
www.njeda.com.
12
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Statements of Net Position
2021
2022 (Restated)
Assets
Current assets:
Cash and cash equivalents – restricted 513,038,720$ 174,401,920$
Cash and cash equivalents – unrestricted 196,682,928 290,189,938
Investments 53,821,437 44,066,839
Receivables:
Notes 16,978,994 17,118,126
Accrued interest on notes 708,116 1,183,194
Accrued interest on investments 919,858 761,443
Leases 4,904,315 4,132,573
Other receivables 6,449,053 3,267,091
Total receivables 29,960,336 26,462,427
Prepaid and other current assets 1,939,010 1,171,619
Total current assets 795,442,431 536,292,743
Noncurrent assets:
Investments – unrestricted 135,671,389 150,344,086
Venture capital partnerships 22,566,416 17,253,181
Equity investments 4,713,239 1,008,123
Net other postemployment benefits asset 15,867,760 21,972,896
Land held for resale 3,620,153
Prepaid and other noncurrent assets 586,070 309,481
Receivables:
Notes 193,990,489 209,018,446
Accrued interest on notes 14,461 11,156
Leases 25,117,504 30,021,819
Unamortized discount (70,062) (256,108)
Total receivables 219,052,392 238,795,313
Allowance for doubtful notes receivable (36,119,127) (35,245,633)
Net notes receivable 182,933,265 203,549,680
Non-depreciable capital assets 192,292,749 47,800,116
Right to use lease assets 8,242,703 2,073,272
Depreciable/amortizable capital assets, net 13,367,270 16,758,199
Total capital assets, net 213,902,722 66,631,587
Total noncurrent assets 579,861,014 461,069,034
Total assets 1,375,303,445 997,361,777
Deferred outflows of resources
Deferred outflows from pension 16,837,062 11,149,517
Deferred outflows from OPEB 5,467,319 521,262
Total deferred outflows of resources 22,304,381$ 11,670,779$
December 31,
See accompanying notes.
13
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Statements of Net Position (continued)
2021
2022 (Restated)
Current liabilities:
Accrued liabilities 38,311,302$ 8,602,170$
Unearned lease revenues 1,216,150 1,202,863
Leases Payable 542,345 575,553
Lessee Interest Payable 94,402
Escrow deposits 9,120,563 2,855,735
Total current liabilities 49,284,762 13,236,321
Noncurrent liabilities:
Net pension liability 48,534,257 33,482,997
Leases Payable 8,239,836 1,763,199
Unearned lease revenues 2,634,619 3,688,467
Accrued guarantee losses 3,714,017 3,855,908
Compensated absences 1,888,105 2,018,861
Total noncurrent liabilities 65,010,834 44,809,432
Total liabilities 114,295,596 58,045,753
Deferred inflows of resources
Deferred inflows from pension 7,826,405 21,497,619
Deferred inflows from OPEB 14,569,124 17,330,212
Deferred inflows from Leases 30,021,819 34,154,392
Total deferred inflows of resources 52,417,348 72,982,223
Net position
Net investment in capital assets 205,120,541 64,292,835
Restricted by Federal and State agreement 33,217,633 32,369,782
Unrestricted 992,556,708 781,341,963
Total net position 1,230,894,882$ 878,004,580$
December 31,
Liabilities
See accompanying notes.
14
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Statements of Revenues, Expenses and Changes in Net Position
2021
2022 (Restated)
Operating revenues
Financing fees 4,545,292$ 5,379,598$
Interest income – notes 4,639,714 5,912,966
Interest income – leases 1,622,334 1,790,178
Operating lease revenue 8,394,798 7,346,864
Agency fees 2,180,227 1,856,654
Program services 6,346,016 3,372,034
Real estate development 4,369,011 1,138,884
Distributions and warrants 259,107 1,223,183
Grant income - 2,353,454
Other 1,544,126 2,932,460
Total operating revenue 33,900,625 33,306,275
Operating expenses
Salaries and benefits 42,182,446 25,495,960
General and administrative 12,867,843 7,851,917
Interest 453,422 158,652
Program costs 21,694,045 18,209,082
Depreciation 3,500,402 3,983,605
Lease Amortization 873,202 525,406
Loss provisions – net 1,205,012 2,935,491
Total operating expenses 82,776,372 59,160,113
Operating loss (48,875,747) (25,853,838)
Nonoperating revenues (expenses)
Interest income – investments 7,242,924 3,820,732
Unrealized (loss) gain on investment securities (10,458,808) (5,038,861)
State and Federal appropriations 528,826,277 817,722,311
Program payments (123,844,344) (451,866,149)
Nonoperating revenues – net 401,766,049 364,638,033
Change in net position 352,890,302 338,784,195
Net position – beginning of year 878,004,580 539,220,385
Net position – end of year 1,230,894,882$ 878,004,580$
Year Ended December 31,
See accompanying notes.
15
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Statements of Cash Flows
2021
2022 (Restated)
Cash flows from operating activities
Cash receipts from financing fees 4,545,292$ 5,379,598$
Interest from notes 5,313,202 6,177,254
Lease rents 9,061,931 8,870,172
Grants - 2,353,454
Agency fees 2,225,442 1,862,733
Program services 7,145,099 5,657,940
Real estate development 4,403,796 1,153,449
General and administrative expenses paid (57,423,500) (44,629,403)
Program costs paid (16,218,163) (17,016,739)
Collection of notes receivable 34,517,254 37,396,452
Loans disbursed (20,012,901) (42,694,569)
Deposits received 29,631,162 20,440,947
Deposits released (23,366,333) (12,064,493)
Net cash used in operating activities (20,177,719) (27,113,205)
Cash flows from noncapital financing activities
Interest paid on notes and revenue bonds - (615)
Appropriations received 521,419,706 817,394,118
Program payments (122,590,156) (451,845,352)
Net cash provided by noncapital financing activities 398,829,550 365,548,151
Cash flows from capital and related financing activities
Purchase of capital assets (126,721,590) (18,220,768)
Net cash used in capital and related financing activities (126,721,590) (18,220,768)
Cash flows from investing activities
Interest from investments 7,084,509 4,004,734
Return on capital investments (8,339,136) (6,722,872)
Purchase of investments (6,391,471) (17,571,218)
Proceeds from sales and maturities of investments 845,647 3,970,300
Net cash (used in) investing activities (6,800,451) (16,319,056)
Net increase in cash and cash equivalents 245,129,790 303,895,122
Cash and cash equivalents – beginning of year 464,591,858 160,696,736
Cash and cash equivalents – end of year 709,721,648$ 464,591,858$
Year Ended December 31,
See accompanying notes.
16
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Statements of Cash Flows (continued)
2021
2022 (Restated)
Reconciliation of operating loss to net cash
used in operating activities
Operating loss (48,875,747)$ (25,853,838)$
Adjustments to reconcile operating loss
to net cash used in operating activities:
Loss provisions - net 1,199,896 2,935,491
Depreciation 3,500,402 3,983,605
Lease amortization 873,202 525,406
Amortization of discounts (409,886) (505,692)
Change in assets and liabilities:
Notes receivables 14,502,573 4,866,803
Accrued interest receivables-notes 471,732 50,798
Other receivables (45,409,014) (5,478,517)
Prepaid and other noncurrent assets (268,570) (570,028)
Capital investments (259,107) (1,223,183)
Accrued liabilities 43,202,196 (3,163,676)
Unearned lease revenues (1,040,561) (1,046,603)
Deposits 6,264,828 (1,758,125)
Other liabilities 6,070,337 124,354
Net cash used in operating activities
$ (20,177,719) $ (27,113,205)
Noncash investing activities
Unrealized (loss) gain in investment securities (10,458,808)$ (5,038,861)$
Year Ended December 31,
See accompanying notes.
17
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Employee Benefit Trust
Statements of Fiduciary Net Position
2022 2021
Assets
Cash and cash equivalents 978,358$ 62,527$
Investments:
U.S. Treasury securities 12,495,467 16,282,542
U.S. Agency securities 2,865,966 2,787,596
Corporate bonds 12,794,014 12,083,531
Municipal bonds 778,978 616,090
Fixed Income 28,934,425 31,769,759
Equities 10,968,472 14,002,562
Total investments 39,902,897 45,772,321
Accrued interest receivable 164,505 147,048
Total Assets 41,045,760 45,981,896
Liabilities
Accounts payable and accrued expenses 8,000 8,000
Total liabilities 8,000 8,000
Net position – restricted for OPEB 41,037,760$ 45,973,896$
December 31,
See accompanying notes.
18
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Employee Benefit Trust
Statements of Changes in Fiduciary Net Position
2022 2021
Additions
Employer contributions 655,633$ 542,605$
Total contributions 655,633 542,605
Investment income:
Interest and dividends 912,507 998,765
Net (decrease) increase in fair value of investments (5,845,343) 657,766
Net investment income (4,932,836) 1,656,531
Total additions (4,277,203) 2,199,136
Deductions
Insurance premiums 647,633 542,605
Administrative expense 8,000 8,000
Other fees 3,300 3,300
Total deductions 658,933 553,905
Net (decrease) increase in Fiduciary Net Position (4,936,136) 1,645,231
Net position – restricted for OPEB
Beginning of year 45,973,896 44,328,665
End of year 41,037,760$ 45,973,896$
Year Ended December 31,
See accompanying notes.
19
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements
December 31, 2022 and 2021
Note 1: Nature of the Authority
The New Jersey Economic Development Authority (“Authority”) is a public body corporate and
politic, constituting an instrumentality and component unit of the State of New Jersey (“State”).
The Authority was established by Chapter 80, P.L. 1974 (“Act”) on August 7, 1974, as amended
and supplemented, primarily to provide financial assistance to companies for the purpose of
maintaining and expanding employment opportunities in the State and increasing tax ratables in
underserved communities. The Act prohibits the Authority from obligating the credit of the State
in any manner. The Authority assists for-profit and non-profit enterprises with access to capital
and primarily offers the following products and services:
(a) Bond Financing
The Authority issues tax-exempt private activity bonds and taxable bonds. The proceeds from
these single issue or composite series bonds are used to provide long-term, below-market interest
loans to eligible entities, which include certain 501(c)(3) nonprofit organizations, manufacturers,
exempt public facilities, solid waste facilities, and local, county, and State governmental agencies
for capital improvements including real estate acquisition, equipment, machinery, building
construction and renovations. All such bonds are special conduit debt obligations of the Authority,
are payable solely from the revenues pledged with respect to the issue, and do not constitute an
obligation against the general credit of the Authority.
(b) Loans/Guarantees/Investments and Tax Incentives
The Authority directly provides loans, loan participations, loan guarantees and line of credit
guarantees to for-profit and not-for-profit enterprises for various purposes to include: the
acquisition of fixed assets; building construction and renovation; financing for working capital;
technological development; and infrastructure improvements. The Authority also may provide
financial assistance in the form of convertible debt and take an equity position in technology and
life sciences companies through warrant options. In addition to lending and investing its own
financial resources, the Authority administers several business growth programs supported
through State appropriation/allocation, including the technology business tax certificate transfer
program, the angel investor tax credit program, tax credits for film industry and digital media
projects, job creation and retention incentive grants and tax credits, tax credits for capital
investment in urban areas, and reimbursement grants based on incremental revenues generated
by redevelopment projects. Other state mandated programs include loans/grants to support
hazardous discharge site remediation and petroleum underground storage tank remediation.
20
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
(c) Real Estate Development
The Authority independently, or in cooperation with a private or another governmental entity,
acquires, invests in and/or develops vacant industrial sites, existing facilities, unimproved land,
equipment and other real estate for private or governmental use. Sites developed, and equipment
purchased for private use are marketed or leased to businesses that will create new job
opportunities and tax ratables for municipalities. Sites are developed for governmental use for a
fee and also may be leased to the State or State entities.
(d) Stronger NJ Business Programs
In 2013, the Authority was awarded a sub-grant from the New Jersey Department of Community
Affairs for the purpose of administering a portion of the State’s Community Development Block
Grant Disaster Recovery allocation to support the recovery of businesses impacted by
Superstorm Sandy. To achieve this, the Authority may provide grants and loans to eligible
businesses, as well as financial assistance to governmental entities to support community
development, neighborhood revitalization and other public improvement projects.
(e) COVID-19 Emergency Response Programs
In 2020, the Authority was awarded a sub-grant from the New Jersey Department of Treasury for
the purpose of administering a portion of the State’s federal CARES Act allocation to support the
recovery of businesses and economic disruptions caused by the COVID-19 pandemic. To achieve
this, the Authority may provide grants, loans and guarantees to eligible businesses, to support
emergency response programs aimed at stabilizing the state’s economy.
(f) New Jersey Economic Development Authority Employee Benefit Trust
In 1988, the New Jersey Economic Development Authority (“Authority”) established a single-
employer post-employment defined benefit healthcare plan (“Plan”) whereby the Authority
provides the full cost of group health insurance and prescription coverage to those retirees and
surviving spouses (and qualifying dependents) who have retired under the Authority’s retirement
system.
In October 2006, the Authority created the Employee Benefits Trust (“Trust”), an irrevocable trust
to fund its Plan obligations. In no event shall any part of the principal or income of the Trust be
paid or revert back to the Authority or be used for any purpose whatsoever other than for the
exclusive benefit of retirees and their beneficiaries as defined by the Members of the Authority
(the “Board”). No part of the assets of the Trust may inure to the exclusive benefit of any retiree
or beneficiary other than by benefit payments for services provided in the administration of the
Trust.
21
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
The State has the authority to establish and amend the benefit provisions offered and contribution
requirements. There is no separate Board for the Trust as the Trust is administered by the
Authority’s management.
In compliance with GASB 84, Fiduciary Activities, the Authority reports the financial position of
the Plan in it’s Financial Statements and Notes. Accordingly, the Financial Statements are
included after those of the Authority and details of the Plan assets (investments) are contained in
Note 3, Deposits and Investments. Additional information is included in the Required
Supplementary Information section.
Related-Party Transactions
The Authority has contracted with several other State entities to administer certain loan programs
on their behalf for a fee. In order for the Authority to effectively administer the programs, the
Authority has custody of the cash accounts for each program. The cash in these accounts,
however, is not an asset of the Authority and, accordingly, the balances in these accounts have
not been included in the Authority’s statements of net position. The cash balances total
$50,519,542 and $50,834,267 at December 31, 2022 and 2021, respectively. The following is a
summary of the programs that the Authority manages on behalf of other State entities:
Department/Board Program 2022 2021
Treasury Local Development Financing Fund 43,929,971$ 44,302,144$
Board of Public Utilities BPU Clean Energy Program 17,115 27,199
Treasury
Business Employment Incentive Program
6,572,459 6,504,924
Note 2: Summary of Significant Accounting Policies
(a) Basis of Accounting and Presentation
The Authority is a self-supporting entity and follows enterprise fund reporting; accordingly, the
accompanying financial statements are presented using the economic resources measurement
focus and the accrual basis of accounting. While detailed sub-fund information is not presented,
separate accounts are maintained for each program and include certain funds that are legally
designated as to use. Administrative expenses are allocated to the various programs.
In its accounting and financial reporting, the Authority follows the pronouncements of the
Governmental Accounting Standards Board (“GASB”). GASB is the accepted standards setting
body for establishing government accounting and financial reporting principles. The accounts are
maintained on the accrual basis of accounting in conformity with accounting principles generally
accepted in the United States.
22
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
(b) Revenue Recognition
The Authority charges various program financing fees that may include an application fee,
commitment fee, closing fee, issuance fee, annual servicing fee and a document execution fee.
The Authority also charges a fee for the administration of financial programs for various
government agencies and for certain real estate development and management activities. Fees
are recognized when earned. State and Federal (passed-through the State) appropriations
received for economic development or other programs that the State requests the Authority
administer are recognized when received by the Authority. When the Authority is the recipient of
a grant, grant revenue is recognized when the Authority has complied with the terms and
conditions of the grant agreements. The Authority recognizes interest income on lease revenue
by amortizing the discount over the life of the related agreement. Operating lease revenue is
recognized pursuant to the terms of the lease.
When available, it is the Authority’s policy to first use restricted resources for completion of specific
projects.
(c) Cash Equivalents
Cash equivalents are highly liquid debt instruments with original maturities of three months or less
and units of participation in the State of New Jersey Cash Management Fund (“NJCMF”).
(d) Investments
All investments, except for investment agreements, are stated at fair value. The fair value of
investment securities is the market value based on quoted market prices, when available, or
market prices provided by recognized broker dealers. The Authority also invests in various types
of joint ventures and uses the cost method to record the acquisition of such investments, as the
Authority lacks the ability to exercise significant control in the ventures. Under the cost method,
the Authority records the investment at its historical cost and recognizes as income dividends
received from net earnings of the Fund. Dividends received in excess of earnings are considered
a return of investment and reduce the cost basis. These investments typically have a long-time
horizon from when the Authority makes its initial investment to when it may receive any return on
the investment. The Authority maintains a valuation allowance on specific investments when there
is either a series of taxable losses or other factors may indicate that a decrease in value has
occurred that is other than temporary. Capital investments are reported net of this valuation
allowance.
(e) Guarantees Receivable
Payments made by the Authority under its various guarantee programs are reported as
Guarantees Receivable. These receivables are expected to be recovered either from the lender,
23
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
as the lender continues to service the loan, or from the liquidation of the underlying collateral.
Recoveries increase Worth (the amount on deposit and available for payment) (see Note 7).
(f) Allowance for Doubtful Notes and Accrued Guarantee Losses
Allowances for doubtful notes and accrued guarantee losses are determined in accordance with
guidelines established by the Office of Comptroller of Currency. These guidelines include
classifications based on routine portfolio reviews of various factors that impact collectability.
(g) Pensions
For purposes of measuring the net pension liability, deferred outflows of resources and deferred
inflows of resources related to pensions, and pension expense, information about the fiduciary
net position of the New Jersey Public Employees’ Retirement System (PERS) and additions
to/deductions from PERS’s fiduciary net position have been determined on the same basis as
they are reported by the plan. For this purpose, benefit payments (including refunds of employee
contributions) are recognized when due and payable in accordance with the benefit terms.
Investments are reported at fair value.
(h) Postemployment Benefits Other than Pensions (OPEB)
For purposes of measuring the net OPEB (asset)/liability, deferred outflows of resources and
deferred inflows of resources related to OPEB, and OPEB expense, information about the
fiduciary net position of the Employee Benefit Trust (the “Trust”) and additions to/deductions from
the Trust’s fiduciary net position have been determined on the same basis as they are reported
by the Trust. For this purpose, the Trust recognizes benefit payments when due and payable in
accordance with the benefit terms. Investments are reported at fair value.
(i) Leases
Authority as a Lessee
The Authority is a lessee for noncancellable leases of various building facilities. At the
commencement of a lease, the Authority initially measures the lease obligation at the present
value of payments expected to be made during the lease term. Subsequently, the lease obligation
is reduced by the principal portion of lease payments made. Key estimates and judgments related
to leases include how the Authority determines (1) the discount rate it uses to discount the
expected lease payments to present value, (2) lease term, and (3) lease payments. The Authority
recognizes lease liabilities with an initial, individual value of $150,000 or more.
24
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
The Authority uses the interest rate charged by the lessor as the discount rate. When the interest
rate charged by the lessor is not provided, the Authority uses its estimated incremental borrowing
rate as the discount rate for leases.
The lease term includes the non-cancellable period of the lease. Lease payments included in the
measurement of the lease obligation are composed of fixed payments and any purchase option
price that the Authority is reasonably certain to exercise. The Authority monitors changes in
circumstances that would require a remeasurement of its lease obligation and will remeasure if
certain changes occur that are expected to significantly affect the amount of the lease obligation.
See Note 5 (i) for detail.
Authority as a Lessor
The Authority is a lessor for noncancellable leases of various assets of the Authority with lease
agreements that vary in length. The Authority initially measures the lease at the present value of
payments expected to be received during the lease term. Key estimates and judgments to the
lessor include (1) the discount rate using the lessee’s estimated borrowing rate expected less
receipts to present value, (2) the lease term including any non-cancellable period of the lease,
and (3) the lease payments determined by the lease receipts included in the measurement of the
lease that are composed of fixed payments from the lessee and any payment renewal option that
the Authority is reasonably certain to exercise.
The Authority monitors changes in circumstances that would require a remeasurement of its
leases and will remeasure the lease receivable if certain changes occur that are expected to
significantly affect the amount of the lease receivable.
See Note 5 (ii) for detail.
(j) Operating and Non-Operating Revenues and Expenses
The Authority defines operating revenues and expenses as relating to activities resulting from
providing bond financing, direct lending, incentives, and real estate development to commercial
businesses, certain not-for-profit entities, and to local, county and State governmental entities.
Non-operating revenues and expenses include income earned on the investment of funds,
proceeds from the sale of certain assets, State and Federal appropriations and program
payments.
(k) Net Position
The Authority classifies its Net Position into three categories: net investment in capital assets;
restricted; and unrestricted. Net investment in capital assets includes capital assets net of
accumulated depreciation/amortization used in the Authority’s operations as well as capital assets
25
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
that result from the Authority’s real estate development and operating lease activities. Restricted
net position includes net position that have been restricted in use in accordance with State law,
as well as Federal grant proceeds intended for specific projects, such as the State Small Business
Credit Initiative (“SSBCI”). Unrestricted net position includes all net position not included above.
(l) Taxes
The Authority is exempt from all Federal and State income taxes and real estate taxes.
(m) Capitalization Policy
Unless material, it is the Authority’s policy to expense all expenditures of an administrative nature.
Administrative expenditures typically include expenses directly incurred to support staff
operations, such as automobiles, information technology hardware and software, office furniture,
and equipment.
With the exception of immaterial tenant fit-out costs of retail space that is sublet from the State of
New Jersey, the Authority capitalizes all expenditures related to the acquisition of land,
construction and renovation of buildings.
(n) Depreciation Policy
Capital assets are stated at cost. Depreciation is computed using the straight-line method over
the following estimated economic useful lives of the assets:
Building
20 years
Building improvements
20 years
Camden Amphitheater, per terms of agreement
31 years
Leasehold improvements
Term of the lease
Tenant fit-out
Term of the lease
Vehicles
Expensed
Furniture and equipment
Expensed
Right to use lease assets
Term of the lease
(o) Recent and Upcoming Accounting Pronouncements
GASB Statement No. 87, Leases, was issued in June 2017. The primary objective of this
Statement is to better meet the information needs of financial statement users by improving
accounting and financial reporting for leases by governments. This Statement increases the
usefulness of governments’ financial statements by requiring recognition of certain lease assets
and liabilities for leases that previously were classified as operating leases and recognized as
inflows of resources or outflows of resources based on the payment provisions of the contract.
26
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
It establishes a single model for lease accounting based on the foundational principle that leases
are financings of the right to use an underlying asset. Under this Statement, a lessee is required
to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to
recognize a lease receivable and a deferred inflow of resources, thereby enhancing the relevance
and consistency of information about governments’ leasing activities. The Statement, as amended
by GASB 95, is effective for fiscal years beginning after June 15, 2021. The Authority has
implemented this standard for the year ended December 31, 2022.
GASB Statement No. 91, Conduit Debt Obligations, was issued in May 2019. The primary
objectives of this Statement are to provide a single method of reporting conduit debt obligations
by issuers and eliminate diversity in practice associated with (1) commitments extended by
issuers, (2) arrangements associated with conduit debt obligations, and (3) related note
disclosures. This Statement achieves those objectives by clarifying the existing definition of a
conduit debt obligation; establishing that a conduit debt obligation is not a liability of the issuer;
establishing standards for accounting and financial reporting of additional commitments and
voluntary commitments extended by issuers and arrangements associated with conduit debt
obligations; and improving required note disclosures. The Statement, as amended by GASB 95,
is effective for reporting periods beginning after December 15, 2021. The Authority has
implemented this standard for the year ended December 31, 2022.
GASB Statement No. 92, Omnibus 2020, was issued in January 2020. The objectives of this
Statement are to enhance comparability in accounting and financial reporting and to improve the
consistency of authoritative literature by addressing practice issues that have been identified
during implementation and application of certain GASB Statements. This Statement addresses a
variety of topics and includes specific provisions about the following:
▪ Reporting of intra-entity transfers of assets between a primary government employer and
a component unit defined benefit pension plan or defined benefit other postemployment
benefit (OPEB) plan;
▪ The applicability of Statements No. 73, Accounting and Financial Reporting for Pensions
and Related Assets That Are Not within the Scope of GASB Statement 68, and
Amendments to Certain Provisions of GASB Statements 67 and 68, as amended, and
No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans,
as amended, to reporting assets accumulated for postemployment benefits;
▪ The applicability of certain requirements of Statement No. 84, Fiduciary Activities, to
postemployment benefit arrangements;
▪ Measurement of liabilities (and assets, if any) related to asset retirement obligations
(AROs) in a government acquisition;
▪ Reporting by public entity risk pools for amounts that are recoverable from reinsurers or
excess insurers;
▪ Reference to nonrecurring fair value measurements of assets or liabilities in authoritative
literature, and
27
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
▪ Terminology used to refer to derivative instruments.
The requirements related to the effective date of Statement 87 and Implementation Guide 2019-
3, reinsurance recoveries, and terminology used to refer to derivative instruments are effective
upon issuance. The requirements related to all other items, as amended by GASB 95, are
effective for fiscal years beginning after June 15, 2021. The Authority has implemented this
standard for the year ended December 31, 2022.
GASB Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment
Arrangements, was issued in March 2020. The primary objective of this Statement is to improve
financial reporting by addressing issues related to public-private and public-public partnership
arrangements (PPPs). As used in this Statement, a PPP is an arrangement in which a government
(the transferor) contracts with an operator (a governmental or nongovernmental entity) to provide
public services by conveying control of the right to operate or use a nonfinancial asset, such as
infrastructure or other capital asset (the underlying PPP asset), for a period of time in an exchange
or exchange-like transaction. Some PPPs meet the definition of a service concession
arrangement (SCA), which the Board defines in this Statement as a PPP in which (1) the operator
collects and is compensated by fees from third parties; (2) the transferor determines or has the
ability to modify or approve which services the operator is required to provide, to whom the
operator is required to provide the services, and the prices or rates that can be charged for the
services; and (3) the transferor is entitled to significant residual interest in the service utility of the
underlying PPP asset at the end of the arrangement. This Statement also provides guidance for
accounting and financial reporting for availability payment arrangements (APAs). As defined in
this statement, an APA is an arrangement in which a government compensates an operator for
services that may include designing, constructing, financing, maintaining, or operating an
underlying nonfinancial asset for a period of time in an exchange or exchange-like transaction.
The requirements of this Statement are effective for fiscal years beginning after June 15, 2022,
and all reporting periods thereafter. The Authority is in the process of evaluating the impact of its
adoption on the financial statements.
GASB Statement No. 96, Subscription-Based Information Technology Arrangements (“SBITA”), was
issued in May 2020. This Statement provides guidance on the accounting and financial reporting for
subscription-based information technology arrangements (SBITAs) for government end users
(governments). This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right-to-
use subscription asset—an intangible asset—and a corresponding subscription liability; (3) provides
the capitalization criteria for outlays other than subscription payments, including implementation costs
of a SBITA; and (4) requires note disclosures regarding a SBITA. To the extent relevant, the standards
for SBITAs are based on the standards established in Statement No. 87, Leases, as amended. The
requirements of this Statement are effective for fiscal years beginning after June 15, 2022, and all
reporting periods thereafter. The Authority is in the process of evaluating the impact of its adoption on
the financial statements.
28
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
(p) Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position includes a separate section for deferred
outflows of resources. This separate financial statement element represents a consumption of
nets assets that applies to a future period and will not be recognized as an outflow of resources
(expense/expenditure) until then. In addition to liabilities, the statement of net position includes a
separate section for deferred inflows of resources. This separate financial statement element
represents an acquisition of net assets that applies to a future period and will not be recognized
as an inflow of resources (revenue) until that time.
The Authority reported deferred inflow amounts relating to the lease receivables. These amounts
are deferred and amortized to lease revenue in a systematic and rational manner over the lease
terms. The Authority also reported deferred outflows or resources and deferred inflows of
resources in relation to its pension and other postemployment benefit liabilities. These amounts
are detailed in the discussion of the Authority’s Employee Retirement Plans in Note 10.
(q) Reclassifications
Certain reclassifications have been made to prior year balances to conform to current year
presentation.
Note 3: Deposits and Investments
(a) Deposits
Operating cash is held in the form of Negotiable Order of Withdrawal (“NOW”) accounts and
money market accounts. At December 31, 2022, the Authority’s bank balance was $110,712,553.
Of the bank balance, $750,000 was insured with Federal Depository Insurance.
Pursuant to GASB Statement No. 40, Deposit and Investment Risk Disclosures (“GASB 40”), the
Authority’s NOW accounts, as well as money market accounts and certificates of deposit, are
profiled in order to determine exposure, if any, to Custodial Credit Risk (risk that in the event of
failure of the counterparty the Authority would not be able to recover the value of its deposit or
investment). Deposits are considered to be exposed to Custodial Credit Risk if they are:
uninsured, uncollateralized (securities are not pledged to the depositor), collateralized with
securities held by the pledging financial institution, or collateralized with securities held by the
pledging financial institution’s trust department or agent but not in the government’s (NJEDA)
29
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
name. At December 31, 2022 and 2021, all of the Authority’s deposits were collateralized by
securities held in its name and, accordingly, not exposed to custodial credit risk.
Cash deposits at December 31, 2022 and 2021 were as follows:
Deposit Type 2022 2021
NOW Accounts
$ 93,046,850 $287,712,227
Money Market Accounts 9,464,913 9,389,476
Total Deposits $ 102,511,763 $297,101,703
(b) Investments
Pursuant to the Act, the funds of the Authority may be invested in any direct obligations of, or
obligations as to which the principal and interest thereof is guaranteed by, the United States of America
or other obligations as the Authority may approve. Accordingly, the Authority directly purchases
permitted securities and enters into interest-earning investment contracts.
As of December 31, 2022, and 2021, the Authority’s total investments, excluding capital investments,
amounted to $189,492,826 and $194,410,925, respectively. The Authority’s investment portfolio
(“Portfolio”) is comprised of short to medium term bonds and is managed by a financial institution for
the Authority. These investments include obligations guaranteed by the U.S. Government,
Government Sponsored Enterprises, Money Market Funds, Corporate Debt rated at least A- by
Standard & Poor’s (“S&P”) or equivalent by Moody’s and Repurchase Agreements. The Portfolio is
managed with the investment objectives of; preserving capital, maintaining liquidity, achieving superior
yields, and providing consistent returns over time. In order to limit interest rate risk, investments are
laddered, with maturities ranging from several months to a maximum of five years.
Investment of bond proceeds is made in accordance with the Authority’s various bond resolutions.
The bond resolutions generally permit the investment of funds held by the trustee in the following:
(a) obligations of, or guaranteed by, the State or the U.S. Government; (b) repurchase agreements
secured by obligations noted in (a) above; (c) interest-bearing deposits, in any bank or trust company,
insured or secured by a pledge of obligations noted in (a) above; (d) State of New Jersey Cash
Management Fund (NJCMF); (e) shares of an open-end diversified investment company which
invests in obligations with maturities of less than one year of, or guaranteed by, the U.S. Government
or Government Agencies; and (f) non-participating guaranteed investment contracts.
In order to maximize liquidity, the Authority utilizes the NJCMF as an investment. All investments in
the NJCMF are governed by the regulations of the State of New Jersey, Department of Treasury,
Division of Investment, which prescribes specific standards designed to ensure the quality of
investments and to minimize the risks related to investments. The NJCMF invests pooled monies from
various State and non-State agencies in primarily short-term investments. These investments include:
U.S. Treasuries; short-term commercial paper; U.S. Agency Bonds; Corporate Bonds; and Certificates
30
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
of Deposit. Agencies that participate in the NJCMF typically earn returns that mirror short-term
investment rates. Monies can be freely added or withdrawn from the NJCMF on a daily basis without
penalty. At December 31, 2022 and 2021, the Authority’s balance in the NJCMF is $606,364,238 and
$163,519,944, respectively. The fair value is measured based on net asset value (“NAV”) which
approximates $1 per share.
Custodial Credit Risk
Pursuant to GASB 40, the Authority’s investments are profiled to determine if they are exposed to
custodial credit risk. Investment securities are exposed to custodial credit risk if the securities are
uninsured, are not registered in the name of the government (NJEDA), and are held by either: the
counterparty (institution that pledges collateral to government or that buys/sells investments for
government) or the counterparty’s trust department or agent but not in the name of the government.
Investment pools such as the NJCMF and open-ended mutual funds including Mutual Bond Funds
are deemed not to have custodial credit risk. As of December 31, 2022, and 2021, no investments are
subject to custodial credit risk as securities in the Portfolio are held in the name of the Authority.
Concentration of Credit Risk
The Authority does not have an investment policy regarding concentration of credit risk; however, the
Authority’s practice is to limit investments in certain issuers. No more than 5% of the Authority funds
may be invested in individual corporate and municipal issuers; and no more than 10% in individual
U.S. Government Agencies. At December 31, 2022, $12,556,942 or 6.63% was held in the Freddie
Mac U.S. Government Agency. At December 31, 2021, $12,957,079 or 6.66% was held in the Freddie
Mac U.S. Government Agency. Investments issued by or guaranteed by the U.S. Government, mutual
fund investments, and pooled investments are exempt from this requirement.
Credit Risk
The Authority does not have an investment policy regarding the management of credit risk, as outlined
above. GASB 40 requires that disclosure be made as to the credit rating of all debt security
investments except for obligations of the U.S. government or investments guaranteed by the U.S.
Government. All investments in U.S. Agencies are rated Aaa by Moody’s and AA+ by S&P. The mutual
bond fund was rated AAA by S&P. Corporate bonds were rated BBB+/A-/A/A+/AA-/AA/AA+, by S&P.
Municipal bonds were rated AA,AA+,AAA by S&P and Aa1, Aa2, Aa3,Aaa by Moody’s. The NJCMF
is not rated.
Interest Rate Risk
The Authority does not have a policy to limit interest rate risk, however, its practice is to hold
investments to maturity.
31
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability
in an orderly transaction between market participants at the financial statement measurement date.
The fair value hierarchy categorizes the inputs to valuation techniques used to measure fair value into
three levels as follows:
• Level 1 – unadjusted quoted prices in active markets for identical assets;
• Level 2 – quoted prices other than those included within Level 1 and other inputs that are
observable for the asset or liability, either directly or indirectly;
• Level 3 – unobservable inputs for an asset or liability.
As of December 31, 2022 and 2021, the Authority had the following investments and maturities:
Maturities Maturities
Fair Value as of
Less than 1
Year
1–5 Years December 31, 2021
Investments by fair value level
Debt Securities:
U.S. Treasuries 1 76,209,253$ $ 23,984,189 $ 52,225,064 90,231,274$
U.S. Agencies 2 18,274,194 11,994,591 6,279,603 19,053,407
Corporate Bonds 2 71,573,095 6,266,128 65,306,967 60,575,350
Municipal Bonds 2 14,813,099 2,953,344 11,859,755 16,558,820
Commercial Paper 2 1,394,323 1,394,323 - -
Certificate of deposit 2 7,228,862 7,228,862 - 7,992,074
Mutual Bond Funds 1 845,647 845,647 - 3,970,212
Total investments by fair value level 190,338,473 $ 54,667,084 $ 135,671,389 198,381,137
Investment Pool at NAV
State of NJ Cash Management Fund 606,364,238 163,519,944
Total investments measured
at fair value
796,702,711 361,901,081
Less: amounts reported as cash equivalents
(607,209,885) (167,490,156)
Total investments 189,492,826$ 194,410,925$
December 31, 2022
Investment Type
Level
Fair Value
Debt securities classified in Level 2 of the fair value hierarchy are valued using a matrix pricing
technique.
(c) Special Purpose Investments
Pursuant to the Authority’s mission, from time to time, in order to expand employment
opportunities in the State and to spur economic development opportunities, the Authority, with the
authorization of the Board, will make special purpose investments. These special purpose
investments include the Authority’s participation as a limited partner in various venture funds
formed with the primary purpose of providing venture capital to exceptionally talented
32
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
entrepreneurs dedicated to the application of proprietary technologies or unique services in
emerging markets and whose companies are in the expansion stage. At December 31, 2022 and
2021, the aggregate value of the Authority’s investment in these funds is $22,566,416 and
$17,253,181, respectively. As a limited partner, the Authority receives financial reports from the
managing partner of the funds, copies of which may be obtained by contacting the Authority.
For the purpose of financial reporting, the ownership in stock or equity interest in connection with
economic development activities, such as providing venture capital, does not meet the definition
of an investment because the asset is held primarily to further the economic development
objectives of the Authority. Accordingly, the Authority uses the cost method as the measurement
basis.
At December 31, 2022 and 2021, the Authority also held other equity investments of $4,713,239
and $1,008,213, respectively. The investments were held in the form of stock.
(d) Fiduciary Activities – OPEB Trust
OPEB Trust Deposits and Investments
The Trust’s investments are made in accordance with the provisions of the Authority’s Investment
Policy (the “Investment Policy”). The goals of the Investment Policy are to invest for the sole
purpose of funding the OPEB Plan obligation of the Authority in a prudent manner, and to
conserve and enhance the value of the Trust assets through appreciation and income generation
while maintaining a moderate investment risk.
The Trust has retained an investment consultant to ensure that strategic investment diversification
is attained, to employ investment managers with expertise in their respective asset classes, and
to closely monitor the implementation and performance of the respective investment strategies.
The Trust is currently invested in the following securities within the current investment policy
limitations:
2022 2021
Exposure Exposure
Equities 26.8% 30.6%
Fixed Income:
U.S. Treasury 30.6 35.5
U.S. Agency 7.0 6.1
Corporate bonds 31.3 26.4
Municipal 1.9 1.3
Cash and cash equivalents 2.4 0.1
Asset Class
33
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
The current investment policy restricts the investments to a target allocation of 30% of
investments in U.S. equities with 70% in fixed income as follows: U.S. Treasury obligations,
federal instrumentality securities, corporate debt, taxable municipal bonds, commercial paper,
repurchase agreements and money market mutual funds.
The Trust does not have an investment policy regarding concentration of credit risk, however, the
Trust’s practice is to limit investments in certain issuers. The current investment philosophy
represents a long-term perspective. When asset weightings fall outside the Investment Policy
range, the investment advisor shall advise the Trust on potential investment courses of action and
the Trust may elect to rebalance the Trust asset mix.
Fair value is defined as the price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction between market participants at the financial statement
measurement date. The fair value hierarchy categorizes the inputs to valuation techniques used
to measure fair value into three levels as follows:
Level 1 – value based on quoted prices in active markets for identical assets.
Level 2 – value based on significant other observable inputs such as a matrix pricing
technique. Matrix pricing is used to value securities based on the securities’ relationship to
benchmark quoted prices.
Level 3 – value based on inputs that are unobservable and significant to the fair value
measurement such as discounted cash flows.
Investments Maturities Maturities Fair Value as of
Less than 1
Year
1–5 Years 6-10 Years December 31, 2021
Investments by fair value level
U.S. Treasuries 1 12,495,467$ 2,877,765$ 7,642,928$ 1,974,774$ 16,282,542$
U.S. Agencies 2 2,865,966 641,934 1,350,650 873,382 2,787,596
Corporate Bonds 2 12,794,014 - 6,981,499 5,812,515 12,083,531
Municipal Bonds 2 778,978 - 778,978 - 616,090
Dreyfus Cash Management Fund 1 - - - - 62,527
Mutual bond funds 1 978,358 978,358 - - -
Mutual funds 1 10,968,472 10,968,472 - - 14,002,562
Total investments by fair value level 40,881,255 15,466,529 16,754,055 8,660,671 45,834,848
Less amounts reported as cash
equivalents per the financial statements (978,358) (62,527)
Total investments per the financial
statements 39,902,897$ 45,772,321$
December 31, 2022
Investment Type
Level
Fair Value
Debt securities classified in Level 2 of the fair value hierarchy are valued using a matrix pricing
technique.
34
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
The following discusses the Trust’s exposure to common deposit and investment risks related to
custodial credit, credit, concentration of credit, interest rate and foreign currency risks as of
December 31, 2022.
Custodial Credit Risk
Custodial credit risk is the risk that, in the event of a failure of a depository financial institution, the
Trust’s deposits may not be returned. Investment securities are exposed to custodial credit risk if
the securities are uninsured, are not registered in the name of the Trust and are held by either
the depository financial institution or the depository financial institution’s trust department or agent
but not in the Trust’s name.
The Trust manages custodial credit risk by limiting its investments to highly rated institutions and
or requiring high quality collateral be held by the trustee in the name of the Trust.
Credit Risk
Credit risk exists when there is a possibility the issuer or other counterparty to an investment may
be unable to fulfill its obligations. The Trust has an investment policy regarding the management
of Credit Risk, as outlined above. GASB Statement No. 40, Deposit and Investment Risk
Disclosures, requires that disclosure be made as to the credit rating of all debt security
investments except for obligations of the U.S. government or investments guaranteed by the U.S.
government. All investments in U.S. Agencies ($2,865,966) and U.S. Treasuries ($12,495,467)
are rated AA+ by Standard & Poor’s (“S&P”). Corporate bonds were rated AAA/AA+/AA/AA-
/A+/A/A-/BBB+/BBB ($12,794,014) by S&P. Municipal bonds were rated Aa1, Aa3 ($778,978) by
Moody’s. The Dreyfus Cash Management Fund ($978,358) was rated AAA by S&P.
As of December 31, 2022, the Trust’s fixed income investments totaled $29,912,783.
Corporate debt, when purchased, must be rated no less than BBB or the equivalent by at least
two Nationally Recognized Statistical Rating Organizations (“NRSRO”). Taxable municipal bonds
should be rated at least A- or the equivalent at the time of purchase by at least two NRSROs.
Commercial paper and repurchase agreements should have the ratings of at least A-1 by two or
more NRSROs. Money market mutual funds and local government investment pools must have
a rating of AAA by one or more NRSROs.
Concentration of Credit Risk
Concentration of credit risk is the risk of loss that may be attributed to the magnitude of the Trust’s
investment in a single issuer. Investments of Trust assets are diversified in accordance with the
35
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Authority’s investment policy that defines guidelines for the investment holdings. The asset
allocation in the investment portfolio should be flexible depending upon the outlook for the
economy and the securities markets. As of December 31, 2022, none of the Trust’s individual
investments comprised more than 5% of total investments. U.S. Government issued securities
(U.S. Treasury securities) are exempt from this requirement.
Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an
investment. Within the fixed income and cash portions of the portfolio it is managed using the
effective duration methodology.
This methodology is widely used in the management of fixed income portfolios in that it quantifies
with greater precision the amount of risk due to interest rate changes. The weighted duration of
the fixed income portfolio at December 31, 2022 is 3.5 years. In the equities section of the portfolio
interest rate risk is managed by limiting equity exposure to approximately 30% of the portfolio and
investing in mutual funds that limit risk by diversifying holdings and purchasing companies of lower
risk.
Rate of Return
As required by GASB Statement 74, the annual money weighted rate of return on trust
investments, net of investment expenses was (11.25%) and 3.75% for the years ended
December 31, 2022 and 2021, respectively. The calculation is based on monthly income and
average monthly investment balances.
36
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Note 4: Notes Receivable
Notes receivable consist of the following:
2022 2021
Economic Development Fund (“EDF”) loan program; interest ranging
up to 5.4%; maximum term of 12 years
32,963,783$ 37,293,415$
Economic Recovery Fund (“ERF”) loan and guarantee programs;
interest ranging up to 9.8%; maximum term of 19 years
84,390,761 100,298,855
Hazardous Discharge Site Remediation (“HDSR”) loan program;
interest ranging up to 5.0%; maximum term of 3 years
1,552,302 1,916,163
143,875 176,490
Stronger NJ Business (SNJ) loan program; interest ranging up to
2.6%; maximum term of 30 years
82,097,975 82,056,306
United States Economic Development Authority (USEDA) loan
program; interest rate of 0.0%; maximum term of 10 years
9,820,787 4,395,343
$ 210,969,483 226,136,572$
Municipal Economic Recovery Initiative (“MERI”) loan program;
interest ranging up to 3.0%; maximum term of 4 years
December 31,
Aggregate Notes Receivable activity for the year ended December 31, 2022 was as follows:
Write-offs,
Beginning Loan Adjustments, Ending Amounts Due
Balance Receipts
Restructures –
Net
Balance
Within One
Year
EDF/ERF $ 137,952,270 $ 9,850,845 $ (29,765,834) $ (322,737) $ 117,354,544 $ 10,986,456
HDSR 1,916,163 9,271 (33,132) (340,000) 1,552,302 1,355,376
MERI 176,490 - (32,615) - 143,875 30,721
SNJ 82,056,306 4,723,341 (4,681,672) - 82,097,975 3,378,327
USEDA 4,395,343 5,429,444 (4,000) - 9,820,787 1,228,114
$ 226,136,572 $ 20,012,901 $ (34,517,253) $ (662,737) $ 210,969,483 $ 16,978,994
Loan
Disbursements
37
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Note 5: Leases
(i) Authority as Lessor
At December 31, 2022, capital assets with a carrying value of $134,928,968 and accumulated
depreciation of $95,448,672 are leased to commercial enterprises. These leases generally
provide the tenant with renewal and purchase options. Aggregate minimum lease receipts are
expected as follows, which include leases under one year in term not subject to GASB Statement
No. 87 and leases capitalized in prior years prior to implementation of GASB Statement No.87:
2023 $ 7,384,200
2024 7,150,949
2025 4,273,409
2026 3,636,831
2027 2,412,109
2028-2032 11,990,793
2033-2037 4,457,375
2038-2042 420,200
2043-2044 168,080
$ 41,893,946
Certain leases of the Authority are subject to GASB Statement No. 87 which covers leases that
are over one year in length. A receivable is recognized for the total discounted present value of
future lease payments. The interest rate used in this calculation is the Authority’s long-term annual
rate of return which was 4.75% for 2022 and 2021. Interest income and lease revenue is
recognized over the life of the lease. The receivable was $30,021,819 as of December 31, 2022,
and $34,154,392 as of December 31, 2021. The receivable is offset by a corresponding amount
in deferred inflows due to leases representing income to be recognized over the life of the lease.
Interest revenue related to leases was $1,622,334 for 2022 and $1,790,178 for 2021. Future
expected lease payments are summarized in the following table:
Lease Interest
Lease Receivables/
Revenue Deferred Inflows Total
2023 $ 1,426,036 $ 4,904,315 6,330,351$
2024 1,193,082 4,904,020 6,097,102
2025 960,141 2,259,421 3,219,562
2026 852,818 2,257,089 3,109,907
2027 745,606 1,666,503 2,412,109
2028-2032 2,504,517 9,486,275 11,990,792
2033-2037 403,903 4,053,472 4,457,375
2038-2042 86,297 333,903 420,200
2043-2044 11,260 156,821 168,081
$ 8,183,660 $ 30,021,819 $ 38,205,479
38
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
(ii) Authority as Lessee
The Authority leases commercial property, buildings, and office space for use by Authority staff.
Aggregate rental payments for the current year amounted to $1,297,241. Aggregate future lease
obligations are as follows:
2023 $ 1,046,802
2024 1,135,072
2025 693,198
2026 591,897
2027 493,081
2028-2032 2,411,673
2033-2037 2,655,322
2038-2042 2,931,690
2043-2047 3,236,823
2048-2049 1,387,173
$ 16,582,731
The respective lease terms for these leasehold interests in commercial property are over one year
in length and are, similarly, subject to GASB Statement No. 87. A lease liability is recognized for
the total discounted present value of the future lease payments. A right-to-use asset is also
recognized in an amount equivalent to the initial measurement of the lease liability. Separate
calculations were made for each leasehold interest, based on property-significant annual rates
ranging from 5.398% to 8.500%. Interest expense and lease amortization expense are
recognized over the life of each respective leasehold interest.
The lease liability was $8,782,181 as of December 31, 2022, and $2,338,752 as of December 31,
2021. The right-to-use lease asset was $9,641,314 as of December 31, 2022, and $2,598,678 as
of December 31, 2021. Interest expense related to leases was $453,423 for 2022 and $158,036
for 2021. Lease Amortization expense is calculated based on the straight-line method over the
term of each respective leasehold interest. The amounts for December 31, 2022, and 2021 were
$1,138,683, and $525,406, respectively. Future expected lease payments are summarized in the
following table:
Interest Principal Total
2023 $ 504,457 $ 542,345 1,046,802$
2024 451,985 683,087 1,135,072
2025 407,161 286,037 693,198
2026 393,987 197,910 591,897
2027 385,139 107,942 493,081
2028-2032 1,840,344 571,330
2,411,674
2033-2037 1,632,323 1,022,999 2,655,322
2038-2042 1,279,829 1,651,861
2,931,690
2043-2047 729,960 2,506,863 3,236,823
2048-2049 175,364 1,211,809 1,387,173
$7,800,549 $ 8,782,181 $ 16,582,730
39
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Note 6: Capital Assets
Capital asset activity for the years ended December 31, 2022 and 2021 was as follows:
December 31,
2021 December 31,
(Restated) Additions Reductions 2022
Capital assets not being
depreciated:
Land $ 28,818,065 $ 24,307,510 $ 3,620,153 $ 49,505,422
Construction in progress 18,982,051 123,805,276 - 142,787,327
Total non-depreciable assets 47,800,116 148,112,786 3,620,153 192,292,749
Capital assets being depreciated/ -
amortized:
Buildings 81,722,446 - 81,722,446
Right to use lease assets 2,598,678 7,042,636 9,641,314
Leasehold improvements 36,646,188 109,470 - 36,755,658
Total depreciable/amortizable
assets 120,967,312 7,152,106 - 128,119,418
Less: accumulated depreciation/
amortization 102,135,841 4,373,604 - 106,509,445
Capital assets – net $ 66,631,587 $ 150,891,288 $ 3,620,153 $ 213,902,722
December 31, December 31,
2020 2021
(Restated) Additions Reductions (Restated)
Capital assets not being
depreciated:
Land 28,818,065$ $ 28,818,065
Construction in progress 800,253 $ 18,181,798 18,982,051
Total non-depreciable assets 29,618,318 18,181,798 - 47,800,116
Capital assets being depreciated/
amortized:
Buildings 81,722,446 81,722,446
Right to use lease assets 2,598,678 2,598,678
Leasehold improvements 36,306,634 38,880 36,646,188
Total depreciable/amortizable
assets 120,627,758 38,880 - 120,967,312
Less: accumulated depreciation/
amortization 97,626,830 4,509,011 - 102,135,841
Capital assets – net $ 52,619,246 $ 13,711,667 $ - $ 66,631,587
In 2022, the Authority continued with pre-construction (project design) work related to the New
Jersey Wind Port project in Lower Alloways Creek Township, Salem County, which began in
40
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
2020. This included the purchase of a parcel of land within that township for approximately $24.3
million. Separately, the Authority initiated construction related to the refurbishment of one of its
buildings in North Brunswick Township, Middlesex County. Additionally, during 2022, the
Authority listed a property in the Township of North Brunswick for sale and as such the land has
been removed from capital assets and has been classified as a non-current asset as land held
for sale on the statement of net position.
In 2021, the Authority continued with pre-construction (project design) work related to the New
Jersey Wind Port project in Lower Alloways Creek Township, Salem County, which began in the
prior year.
Note 7: Commitments and Contingencies
(a) Loan and Bond Guarantee Programs
The Authority has a special binding obligation regarding all guarantees to the extent that funds
are available in the guarantee accounts as specified in the guarantee agreements. Guarantees
are not, in any way, a debt or liability of the State.
(1) Economic Recovery Fund
The guarantee agreements restrict the Authority from approving any loan or bond guarantee
if, at the time of approval, the Debt (exposure and commitments) to Worth (the amount on
deposit and available for payment) ratio is greater than 5 to 1. At any time, payment of the
guarantee is limited to the amount of Worth within the guarantee program account. Principal
payments on guaranteed loans and bonds reduce the Authority’s exposure. At December 31,
2022, Debt was $11,381,749 and Worth was $327,139,238, with a ratio of 0.03 to 1.
(2) State Small Business Credit Initiative Fund
The Federal grant agreement restricts the Authority from approving any loan or bond
guarantee if, at the time of approval, the Debt to Worth ratio is greater than 1 to 1. At any time,
payment of the guarantee is limited to the amount of Worth within the State Small Business
Credit Initiative Fund. At December 31, 2022, the Fund had no Debt, and Worth was
$4,362,699.
(b) Loan Program Commitments and Project Financings
At December 31, 2022, the Authority has $16,758,322 of loan commitments not yet closed or
disbursed and $119,381,579 of project financing commitments.
41
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Note 8: State and Federal Appropriations and Program Payments
The Authority receives appropriations from the State of New Jersey, as part of the State’s annual
budget, for purposes of administering certain grant programs enacted by State statute, and has
also received appropriations from the United States Department of Housing and Urban
Development, as well as the Federal Emergency Management Agency, via the State of New
Jersey, for purposes of administering certain loan and grant programs for businesses in
connection with the aftermath of Superstorm Sandy in October 2012. In 2020, and again in 2021,
the Authority received appropriations from the United States Department of the Treasury, as part
of the CARES Act of 2020, via the State of New Jersey, for purposes of administering certain
emergency grant programs for businesses adversely impacted by the COVID-19 pandemic. The
Authority recognizes the disbursement of these funds to grantees as program payments. For the
year ended December 31, 2022 state and federal appropriations and program payments were
$449,708,493, $79,117,784, and $123,844,344, respectively.
Note 9: Litigation
The Authority is involved in several lawsuits that, in the opinion of the management of the
Authority, will not have a material effect on the accompanying financial statements.
Note 10: Employee Retirement Systems
(a) Public Employees’ Retirement System of New Jersey (“PERS”)
The Authority’s employees participate in the PERS, a cost sharing multiple employer defined
benefit plan administered by the State. The Authority’s contribution is based upon an actuarial
computation performed by the PERS. Employees of the Authority are required to participate in
the PERS and contributed 7.50% in 2022 and 2021 of their pensionable compensation. The PERS
also provides death and disability benefits. All benefits and contribution requirements are
established, or amended, by State statute.
Benefits Provided
The vesting and benefit provisions are set by N.J.S.A. 43:15A. PERS provides retirement, death
and disability benefits. All benefits vest after ten years of service, except for medical benefits,
which vest after a minimum of 25 years of service or under the disability provisions of PERS.
42
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
The following represents the membership tiers for PERS:
Tier
Definition
1
Members who were enrolled prior to July 1, 2007
2
Members who were eligible to enroll on or after July 1, 2007 and prior to November 2, 2008
3
Members who were eligible to enroll on or after November 2, 2008 and prior to May 22, 2010
4
Members who were eligible to enroll on or after May 22, 2010 and prior to June 28, 2011
5
Members who were eligible to enroll on or after June 28, 2011
Service retirement benefits of 1/55th of final average salary for each year of service credit is
available to tiers 1 and 2 members upon reaching age 60, and to tier 3 members upon reaching
age 62. Service retirement benefits of 1/60th of final average salary for each year of service credit
is available to tier 4 members upon reaching age 62, and tier 5 members upon reaching age 65.
Early retirement benefits are available to tiers 1 and 2 members before reaching age 60, tiers 3
and 4 before age 62, and tier 5 with 30 or more years of service credit before age 65. Benefits
are reduced by a fraction of a percent for each month that a member retires prior to the retirement
age of his/her respective tier. Deferred retirement is available to members who have at least 10
years of service credit and have not reached the service retirement age for the respective tier.
Contributions Made
The contribution policy is set by N.J.S.A. 43:15 and requires contributions by active members and
contributing employers. State legislation has modified the amount that is contributed by the State.
The State’s pension contributions are based on an amortization of the unfunded accrued liability.
Funding for noncontributory group insurance benefits is based on actual claims paid. For fiscal
years 2022 and 2021, the State’s pension contribution was less than the actuarial determined
amount.
The annual employer contributions include funding for basic retirement allowances and
noncontributory death benefits. The Authority’s contractually required contribution rate for the year
ended December 31, 2022, and 2021 was 14.07% and 13.88%, respectively, of annual payroll,
actuarially determined as an amount that, when combined with employee contributions, is
expected to finance the costs of benefits earned by employees during the year, with an additional
amount to finance any unfunded accrued liability.
It is assumed that the Local employers will contribute 100% of their actuarially determined
contribution and 100% of their Non-Contributory Group Insurance Premium Fund (NCGIPF)
contribution while the State will contribute 100% of its actuarially determined contribution and
100% of its NCGIPF contribution. The 100% contribution rate is the actual total State contribution
rate paid in fiscal year ending June 30, 2021 with respect to the actuarially determined contribution
for the fiscal year ending June 30, 2021 for all State administered retirement systems.
43
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
In accordance with Chapter 98, P.L. 2017, PERS receives 21.02% of the proceeds of the Lottery
Enterprise for a period of 30 years. Revenues received from lottery proceeds are assumed to be
contributed to the System on a monthly basis.
The Authority’s contributions are due and payable on April 1st in the second fiscal period
subsequent to plan year for which the contributions requirements were calculated.
Contractual contributions to the pension plan from the Authority were $4,055,563 and $3,310,048
for the years ended December 31, 2022, and 2021, respectively, equal to the required
contributions.
Pension Liabilities, Pension Expense, Deferred Outflows of Resources, and Deferred
Inflows of Resources
GASB 68 requires the Authority to recognize a net pension liability for the difference between the
present value of the projected benefits for past service, known as the Total Pension Liability
(“TPL”), and the restricted resources held in trust for the payment of pension benefits, known as
the Fiduciary Net Position (“FNP”).
At December 31, 2022 and 2021, the Authority reported a liability of $48.5 million and
$33.5 million for its proportionate share of the net pension liability for PERS, respectively. The net
pension liability was measured as of June 30, 2022, and June 30, 2021, respectively, and the
total pension liability used to calculate the net pension liability was determined by actuarial
valuations as of July 1, 2021, and July 1, 2020. The actuarial valuations were rolled forward to
June 30, 2022, and June 30, 2021 using update procedures.
The Authority’s proportion of the net pension liability was based on a projection of the long-term
share of contribution to the pension plans relative to the projected contributions of all participating
State agencies, actuarially determined. At December 31, 2022, the Authority’s proportion was
0.3216025821%, which was an increase of .0389621465% from its proportion measured as of
December 31, 2021. At December 31, 2021, the Authority’s proportion was 0.2826404356%,
which was an increase of 0.0372443871%.
For the years ended December 31, 2022 and 2021, the Authority recognized pension (benefit)
expense of $120,822 and $(2,001,307) for PERS, respectively. Pension expense is reported in
the Authority’s financial statements as part of salaries and benefits expense.
44
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
At December 31, 2022 and 2021, the Authority reported deferred outflows of resources and
deferred inflows of resources related to pension from the following sources:
Deferred Outflows Deferred Inflows Deferred Outflows Deferred Inflows
of Resources of Resources of Resources of Resources
Net difference between projected and actual
earnings on pension plan investments 2,008,789$ -$ -$ 8,820,301$
Changes of assumptions or other inputs
150,374 7,267,500 174,379 11,920,164
Changes in proportion 12,299,819 249,992 8,792,044 517,455
Difference between expected and actual experience
350,298 308,913 528,070 239,699
Contributions subsequent to the measurement date
2,027,782 - 1,655,024 -
16,837,062$ 7,826,405$ 11,149,517$ 21,497,619$
2022
2021
Deferred outflows of resources of $2,027,782 resulting from contributions subsequent to the
measurement date will be recognized as a reduction of the net pension liability in the year ending
December 31, 2023. Other amounts reported as deferred outflows of resources and deferred
inflows of resources related to pensions will be recognized in pension expense as follows:
2023 $ (219,682)
2024 1,539,441
2025 1,942,839
2026 3,558,993
2027 161,284
$ 6,982,875
45
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Actuarial Methods and Assumptions
The collective pension liability for the June 30, 2022 measurement date was determined by an
actuarial valuation as of July 1, 2021, which was rolled forward to June 30, 2022. This actuarial
valuation used the following assumptions:
Inflation: 2.75% (Price)
3.25% (Wage)
Salary increases:
June 30, 2022:
2.75 – 6.55%
based on years of service
June 30,2021:
Through 2026 2.00 – 6.00%
based on years of service
Thereafter 3.00 – 7.00%
based on years of service
Investment rate of return: 7.00%
June 30, 2022 and 2021
Pre-retirement mortality tables were based on Pub-2010 General Below-Median Income
Employee mortality table with an 82.2% adjustment for males and 101.4% adjustment for females,
and with future improvement from the base year of 2010 on a generational basis. Post-retirement
mortality rates were based on the Pub-2010 General Below-Median Income Healthy Retiree
mortality table with a 91.4% adjustment for males and 99.7% adjustment for females, and with
future improvement from the base year of 2010 on a generational basis.
Disability retirement rates used to value disabled retirees were based on the Pub-2010 Non-
Safety Disabled Retiree mortality table with a 127.7% adjustment for males and 117.2%
adjustment for females, and with future improvement from the base year of 2010 on a generational
basis. Mortality improvement is based on Scale MP-2021.
The actuarial assumptions used in the July 1, 2021 valuation was based on the results of an
actuarial experience study for the period July 1, 2018 to June 30, 2021. It is likely that future
experiences will not exactly conform to these assumptions. To the extent that actual experience
deviates from these assumptions, the emerging liabilities may be higher or lower than anticipated.
The more the experience deviates, the larger the impact on future financial statements.
In accordance with State statute, the long-term expected rate of return on plan investments
(7.00% at June 30, 2022 and 2021) is determined by the State Treasurer, after consultation with
the Directors of the Division of Investment and Division of Pensions and Benefits, the board of
trustees and the actuaries. The long-term expected rate of return on pension plan investments
46
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
was determined using a building block method in which best estimate ranges of expected future
real rates of return (expected returns, net of pension plan investment expense and inflation) are
developed for each major asset class. These ranges are combined to produce the long-term
expected rate of return by weighting the expected future real rates of return by the target asset
allocation percentage and by adding expected inflation. The target asset allocation and best
estimate of arithmetic real rates of return for each major asset class are summarized in the
following table:
Long-Term Expected
Asset Class Target Allocation Real Rate of Return
U.S. Equity 27.00%
8.12%
Non-U.S. Developed Markets Equity 13.50%
8.38%
Emerging Markets Equity 5.50%
10.33%
Private Equity 13.00%
11.80%
Real Estate 8.00%
11.19%
Real Assets 3.00%
7.60%
High Yield 4.00%
4.95%
Private Credit 8.00%
8.10%
Investment Grade Credit 7.00%
3.38%
Cash Equivalents 4.00%
1.75%
U.S. Treasuries 4.00%
1.75%
Risk Mitigation Strategies 3.00%
4.91%
Long-Term Expected
Asset Class Target Allocation Real Rate of Return
U.S. Equity 27.00%
8.09%
Non-U.S. Developed Markets Equity 13.50%
8.71%
Emerging Markets Equity 5.50%
10.96%
Private Equity 13.00%
11.30%
Real Estate 8.00%
9.15%
Real Assets 3.00%
7.40%
High Yield 2.00%
3.75%
Private Credit 8.00%
7.60%
Investment Grade Credit 8.00%
1.68%
Cash Equivalents 4.00%
0.50%
U.S. Treasuries 5.00%
0.95%
Risk Mitigation Strategies 3.00%
3.35%
2022
2021
47
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Discount Rate
The discount rate used to measure the total pension liability was 7.00% at June 30, 2022 and
June 30, 2021. The projection of cash flows used to determine the discount rate assumed that
contributions from employers and the non-employer contributing entity will be based on 100% of
the actuarially determined contributions for the State employer and 100% of the actuarially
determined contributions for the local employers. Based on those assumptions, the plan’s
fiduciary net position was projected to be available to make all projected future benefit payments
of current plan members. Therefore, the long-term expected rate of return on plan investments
was applied to all projected benefit payments to determine the total pension liability.
Based on those assumptions, the pension Plan’s fiduciary net position was projected to be
available to make projected future benefit payments of current Plan members.
Sensitivity of the Authority’s Proportionate Share of the Net Pension Liability to Changes
in the Discount Rate
The following presents the Authority’s proportionate share of the net pension liability calculated
using the discount rate of 7.00% for PERS as well as the proportionate share of the net pension
liability using a 1.00% increase or decrease from the current discount rate as of December 31,
2022 and 2021, respectively:
1% Decrease Discount Rate 1% Increase
(6.00%) (7.00%) (8.00%)
2022 62,352,303$ 48,534,257$ 36,774,543$
1% Decrease Discount Rate 1% Increase
(6.00%) (7.00%) (8.00%)
2021 45,597,052$ 33,482,997$ 23,202,504$
Plan Fiduciary Net Position
The plan fiduciary net position for PERS, including the State of New Jersey, at June 30, 2022 and
2021 were $32,568,122,309 and $35,707,804,636, respectively. The portion of the Plan Fiduciary
Net Position that was allocable to the Local (Non-State) Group at June 30, 2022 and 2021 was
$25,810,084,045 and $28,386,785,177, respectively.
48
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Additional Information
Collective Local Group balances at June 30, 2022 are as follows:
Collective deferred outflows of resources
$ 1,660,772,008
Collective deferred inflows of resources 3,236,303,935
Collective net pension liability 15,219,184,920
Authority’s proportion 0.3216025821%
Collective Local Group pension (benefit) expense for the Local Group for the measurement period
ended June 30, 2022 and 2021 was $(1,032,778,934) and $(1,599,674,464) respectively. The
average of the expected remaining service lives of all plan members is 5.04, 5.13, 5.16, 5.21,
5.63, and 5.48 years for the 2022, 2021, 2020, 2019, 2018, and 2017 amounts, respectively.
State Contribution Payable Dates
Prior to July 1, 2020 valuation, it is assumed the State will make pension contributions the June
30
th
following the valuation date. Effective with the July 1, 2020 valuation Chapter 83 P.L. 2016
requires the State to make pension contributions on a quarterly basis at least 25% by September
30, at least 50% by December 31
st
, at least 75% by March 31
st
, and at least 100% by June 30
th
.
Receivable Contribution
The Fiduciary Net Position (FNP), includes Local employers’ contributions receivable as reported
in the financial statements provided by the Division of Pensions and Benefits. In determining the
discount rate, the FNP at the beginning of each year does not reflect receivable contributions as
those amounts are not available at the beginning of the year to pay benefits. The receivable
contributions for the years ended June 30, 2022 and June 30, 2021 are $1,288,683,017 and
$1,207,896,120, respectively.
Detailed information about the Plan’s fiduciary net position is available in a separately issued
financial report. The State of New Jersey, Department of the Treasury, Division of Pension and
Benefits, issues publicly available financial reports that include the financial statements and
required supplementary information for the PERS. Information on the total Plan funding status
and progress, required contributions and trend information is available on the State’s web site at
www.state.nj.us/treasury/pensions/annrprts.shtml in the Annual Comprehensive Financial Report
of the State of New Jersey, Division of Pensions and Benefits.
49
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
(b) Postemployment Health Care and Insurance Benefits
General Information about the Postemployment Health Care Plan
Plan Description and Benefits Provided: The Authority sponsors a single employer
postemployment benefits plan that provides benefits in accordance with State statute, through
the State Health Benefits Plan, to its retirees having 25 years or more of service in the PERS, and
30 years or more of service if hired after June 28, 2011, or to employees approved for disability
retirement. Health benefits and prescription benefits provided by the plan are at no cost to eligible
retirees who had accumulated 20 years of service credit as of June 30, 2010. All other future
retirees will contribute to a portion of their health and prescription premiums. Upon turning 65
years of age, a retiree must utilize Medicare as their primary coverage, with State Health Benefits
providing supplemental coverage. In addition, life insurance is provided at no cost to the Authority
and the retiree in an amount equal to 3/16 of their average salary during the final 12 months of
active employment.
The Authority participates in the State Health Benefits Plan solely on the benefits side and not in
a cost-sharing capacity, in order to leverage more affordable premium costs. The Authority
maintains all plan assets within the Employee Benefit Trust. The State of New Jersey, Department
of the Treasury, Division of Pension and Benefits, issues publicly available financial reports that
include the financial statements for the State Health Benefits Program Funds. The financial
reports may be obtained by writing to the State of New Jersey, Department of the Treasury,
Division of Pension and Benefits, P.O. Box 295, Trenton, New Jersey, 08625-0295. The State
has the authority to establish and amend the benefit provisions offered and contribution
requirements.
Employees Covered by Benefit Terms. At December 31, 2022 and 2021, the following employees
were covered by the benefit terms:
2022 2021
Active employees
259 304
Inactive employees and/or beneficiaries
currently receiving benefit payments
45 43
Total membership
304 347
50
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Contributions. The Authority’s Board grants the Authority the right to establish and amend the
contribution requirements. The Board establishes rates based on an actuarially determined rate.
For the year ended December 31, 2022, and 2021, the Authority’s average contribution rate was
2.25 percent and 1.85 percent of covered payroll, respectively. Employees are not required to
contribute to the plan. The Authority’s annual OPEB cost for the plan is calculated based on the
Entry Age Normal level percentage cost method, an amount actuarially determined in accordance
with the parameters of GASB Statement 75. The Authority has established and funded an
irrevocable trust for the payments required by this obligation.
Net OPEB (Asset) Liability
The Authority’s net OPEB (asset) liability for the December 31, 2022 measurement date was
determined by an actuarial valuation as of January 1, 2022, which was rolled forward to December
31, 2022.
Actuarial Assumptions. The total OPEB liability in the January 1, 2022, actuarial valuation was
determined using the following actuarial assumptions, applied to all periods included in the
measurement, unless otherwise specified:
Inflation
2.3% per annum, compounded annually
Salary increases
3.5% per annum, compounded annually
Investment rate of return
4.75%
Healthcare cost trend rates
7.0% grading down to an ultimate rate of 3.7% for
<65, 6.7% grading down to an ultimate rate of 3.7%
for >65
Mortality rates were based on the Pub-2010 General Below-Median Income mortality tables and
Pub-2010 Non-Safety Disabled Retiree mortality table adjusted to reflect Mortality Improvement
Scale MP-2021 from 2010 base year and projected forward on a generational basis.
The actuarial assumptions used in the January 1, 2022, valuation were based on information
provided by the Authority for the period of January 1, 2021 through December 31, 2021.
The long-term expected rate of return on OPEB plan investments was determined using a
building-block method in which best-estimate ranges of expected future real rates of return
(expected returns, net of OPEB plan investment expense and inflation) are developed for each
major asset class. These ranges are combined to produce the long-term expected rate of return
by weighting the expected future real rates of return by the target asset allocation percentage and
by adding expected inflation of 2.30%. The target allocation and best estimates of arithmetic real
rates of return for each major asset class are summarized in the following table:
51
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Target Long-Term Expected
Asset Class Index Allocation Real Rate of Return
US Cash
BAML 3-Month T-Bills 2.50% 0.61%
US Interm (1-10) Treasury Bonds Bloomberg Interm US Treasury 30.50% 1.26%
US Interm (1-10) Corporate Bonds
Bloomberg Interm Corporate 31.25% 2.74%
US Interm (1-10) Government
Bloomberg US Govt 7.00% 1.72%
US Municipal Bonds
Bloomberg Municipal 2.00% 1.71%
US Large Cap Equity
S&P 500 4.25% 5.64%
US Large & Mid Cap Equity
Russell 1000 14.25% 5.65%
US Large & Mid Cap Gr Equity
Russell 1000 Growth 4.00% 5.89%
US Mid Cap Equity
Russell MidCap 2.25% 5.99%
US Small Cap Equity
Russell 2000 2.00% 7.25%
100.00%
Target Long-Term Expected
Asset Class Index Allocation Real Rate of Return
US Cash
BAML 3-Month T-Bills 0.25% 2.03%
US Interm (1-10) Treasury Bonds Bloomberg Interm US Treasury 35.50% 2.82%
US Interm (1-10) Corporates
Bloomberg Interm Corporate 26.25% 4.24%
US Interm (1-10) Government
Bloomberg US Govt 6.00% 3.28%
US Municipal Bonds
Bloomberg Municipal 1.25% 2.90%
US Large & Mid Cap Equity
Russell 1000 25.50% 7.33%
US Large & Mid Cap Gr Equity
Russell 1000 Growth 3.50% 7.26%
US Mid Cap Equity
Russell MidCap 1.75% 7.85%
Total 100.00%
2022
2021
Discount Rate. The discount rate used to measure the total OPEB liability was 4.75 percent at
December 31, 2022 and 4.50 percent at December 31, 2021. The projection of cash flows used to
determine the discount rate assumed that Authority contributions will be made at rates equal to the
actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary
net position was projected to be available to make all projected OPEB payments for current active
and inactive employees. Therefore, the long-term expected rate of return on OPEB plan
investments was applied to all periods of projected benefit payments to determine the total OPEB
liability.
52
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Changes in Net OPEB (Asset) Liability
For the year ended December 31, 2022:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position (Asset) Liability
Net OPEB (asset) liability at the beginning of the year 24,001,000$ 45,973,896$ (21,972,896)$
Changes for the year:
Service Cost
1,223,343 - 1,223,343
Interest
1,120,684 - 1,120,684
Employer contributions
- 655,633 (655,633)
Effect economic/demographic changes
19,606 - 19,606
Effect change in assumptions/inputs
(547,000) - (547,000)
Net investment income - (4,932,836) 4,932,836
Benefit payments (647,633) (647,633) -
Administrative expense - (11,300) 11,300
Net changes 1,169,000 (4,936,136) 6,105,136
Net OPEB (asset) liability at the end of the year 25,170,000$ 41,037,760$ (15,867,760)$
For the year ended December 31, 2021:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position (Asset) Liability
Net OPEB (asset) liability at the beginning of the year
$ 22,325,694 44,328,665$ (22,002,971)$
Changes for the year:
Service Cost
973,348 - 973,348
Interest
1,036,383 - 1,035,383
Employer contributions
- 542,605 (542,605)
Effect economic/demographic changes
579,180 - 579,180
Effect change in assumptions/inputs
(371,000) - (371,000)
Net investment income - 1,656,531
(1,656,531)
Benefit payments
(542,605) 542,605 -
Administrative expense - 11,300
11,300
Net changes 1,675,306 1,645,231
30,075
Net OPEB (asset) liability at the end of the year 24,001,000$ 45,973,896$
$ (21,972,896)
Increase (Decrease)
Increase (Decrease)
53
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Sensitivity of the Net OPEB (Asset) Liability to Changes in the Discount Rate. The following
presents the net OPEB (asset) liability of the Authority as of December 31, 2022 and 2021, as
well as what the Authority’s net OPEB (asset) liability would be if it were calculated using a
discount rate that is 1-percentage-point lower or 1-percentage-point higher than the current
discount rate as defined in the chart below for 2022 and 2021:
1% Decrease Discount Rate 1% Increase
(3.75%) (4.75%) (5.75%)
2022 (11,490,760)$ (15,867,760)$ (19,390,760)$
1% Decrease Discount Rate 1% Increase
(3.50%) (4.50%) (5.50%)
2021 (17,969,347)$ (21,972,896)$ (25,407,896)$
Sensitivity of the Net OPEB (Asset) Liability to Changes in the Healthcare Cost Trend Rates. The
following presents the net OPEB (asset) liability of the Authority as of December 31, 2022, and
2021, as well as what the Authority’s net OPEB (asset) liability would be if it were calculated using
healthcare cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than
the current healthcare cost trend rates (defined in chart below for 2022 and 2021):
Healthcare Cost
1% Decrease Trend Rates 1% Increase
(6.0 decreasing to 2.7% ) (7.0 decreasing to 3.7% ) (8.0 decreasing to 4.7% )
2022 (20,087,760)$ (15,867,760)$ (10,392,760)$
Healthcare Cost
1% Decrease Trend Rates 1% Increase
(4.7 decreasing to 2.7% ) (5.7 decreasing to 3.7% ) (6.7 decreasing to 4.7% )
2021 (25,887,896)$ (21,972,896)$ (16,910,896)$
OPEB Plan Fiduciary Net Position. Detailed information about the OPEB plan’s fiduciary net position
is available in the separately issued NJEDA Employee Benefit Trust financial report, which is
available on the Authority’s website at www.njeda.com/public_information/annual_reports.
54
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to OPEB
For the years ended December 31, 2022 and 2021, the Authority recognized OPEB expense
(benefit) of $(1,602,009) and $(2,936,834), respectively. OPEB expense (benefit) is reported in
the Authority’s financial statements as part of salaries and benefits expense. At December 31,
2022 and 2021, the Authority reported deferred outflows of resources and deferred inflows of
resources related to OPEB from the following sources:
Deferred Deferred Deferred Deferred
Outflows Inflows Outflows Inflows
Difference in experience 480,989$ 166,892$ 521,262$ 196,268$
Changes of assumptions
- 14,402,232 - 16,276,487
Net difference between projected and
actual earnings on OPEB plan
investments
4,986,330 - - 857,457
Totals 5,467,319$ 14,569,124$ 521,262$ 17,330,212$
2022
2021
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
OPEB will be recognized in OPEB expense (income) as follows:
Year Ended
December 31:
2023 $ (1,493,451)
2024 (1,169,960)
2025 (922,831)
2026 (990,436)
2027 (2,390,752)
Thereafter (2,134,375)
Total $ (9,101,805)
55
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Note 11: Compensated Absences
In accordance with GASB Statement No. 16, Accounting for Compensated Absences, the
Authority recorded noncurrent liabilities in the amount of $1,888,105 and $2,018,861 as of
December 31, 2022 and 2021, respectively. The liability as of those dates is the value of employee
accrued vacation time and vested estimated sick leave benefits that are probable of payment to
employees upon retirement. The vested sick leave benefit to eligible retirees for unused
accumulated sick leave is calculated at the lesser of ½ the value of earned time or $15,000. The
payment of sick leave benefits, prior to retirement, is dependent on the occurrence of sickness as
defined by Authority policy; therefore, such non-vested benefits are not accrued.
Note 12: Long-Term Liabilities
During 2022 and 2021, the following changes in long-term liabilities are reflected in the statement
of net position:
Beginning
Balance Ending Due Within
(Restated) Additions Deductions Balance One Year
Net pension liability 33,482,997$ $ 15,051,260 $ - 48,534,257$ -$
Unearned lease revenue 4,891,330 - (1,040,561) 3,850,769 1,216,150
Accrued guarantee losses 3,855,908 - (141,891) 3,714,017
Leases payable 2,338,752 7,042,636 (599,207) 8,782,181 542,345
Compensated absences 2,018,861 67,879 (198,635) 1,888,105
Total long-term liabilities 43,046,233$ $ 22,161,775 $ (1,980,294) 66,769,329$ 1,758,495$
Beginning Ending
Balance Balance Due Within
(Restated) Additions Deductions (Restated) One Year
Net pension liability 40,017,678$ $ - $ (6,534,681) $ 33,482,997 -$
Unearned lease revenue 5,937,934 - (1,046,604) 4,891,330 1,202,863
Accrued guarantee losses 4,510,253 217,233 (871,578) 3,855,908
Leases payable 2,598,678 (259,926) 2,338,752 575,553
Compensated absences 1,883,432 206,552 (71,123) 2,018,861
Total long-term liabilities 51,153,678$ 423,785$ $ (8,531,230) $ 43,046,233 1,778,416$
2022
2021
For further information, see Notes 10 and 11.
56
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Note 13: Risk Management
The Authority is exposed to various risks of loss related to torts; theft of, and destruction of assets;
errors and omission; injuries to employees; and natural disasters. The Authority maintains
commercial insurance coverage covering each of those risks of loss. Management believes such
coverage is sufficient to preclude any significant uninsured losses to the Authority. Settled claims
have not exceeded the commercial coverage provided in any of the last three years.
Note 14: Change in Accounting Principle/Restatement
Effective in the year ended December 31, 2022, the Authority implemented Governmental
Accounting Standards Board Statement No. 87, Leases. The objective of this Statement is to
establish standards of accounting and financial reporting for leases by lessees and lessors. The
implementation of the Statement required a restatement of the prior year financial statements as
follows:
Restatement
Current assets:
Receivables:
Leases
$ - 4,132,573$ $ 4,132,573
Total receivables
22,329,854 4,132,573 26,462,427
Total current assets
532,160,170 4,132,573 536,292,743
Noncurrent assets:
Receivables:
Leases
- 30,021,819 30,021,819
Net notes receivable
173,527,861 30,021,819 203,549,680
Capital assets, net 64,558,315 2,073,272 66,631,587
Total noncurrent assets 428,973,943 32,095,091 461,069,034
Total assets 961,134,113 36,227,664 997,361,777
Current liabilities:
Lease payable - current portion - 575,553 575,553
Total current liabilities 12,660,768 575,553 13,236,321
Noncurrent liabilities:
Long-term lease payable - 1,763,199 1,763,199
Total noncurrent liabilities 43,046,233 1,763,199 44,809,432
Total liabilities 55,707,001 2,338,752 58,045,753
Deferred inflow of resources:
Deferred inflows from leases 34,154,392 34,154,392
Total deferred inflows of resources 38,827,831 34,154,392 72,982,223
General and administrative expenses 8,269,880 (417,963) 7,851,917
Interest 615 158,037 158,652
Lease amortization - 525,406 525,406
Total operating expenses 58,894,633 265,480 59,160,113
Operating loss (25,588,358) (265,480) (25,853,838)
Change in net position 339,049,675 (265,480) 338,784,195
Net investment in capital assets 64,558,315 (265,480) 64,292,835
Total net position 878,270,060$ (265,480)$ 878,004,580$
Balance
December 31,
2021
Restated Balance
December 31,
2021
57
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Notes to Financial Statements (continued)
December 31, 2022 and 2021
Note 15: Subsequent Events
In May 2023, the Authority sold two land parcels. One parcel, in the City of Camden, with a
carrying value of $1.4 million was sold at cost. The second parcel, in the Township of North
Brunswick, with a carrying value of $3.6 million was sold for $12.0 million.
In July 2023, the Authority received appropriations from the State of New Jersey totaling $309.3
million from the State FY 2023 budget for the purposes of administering various state programs,
including Main Street Recovery Fund; Strategic Innovation Centers; and Child Care Facilities
Fund.
58
Required Supplementary Information
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Required Supplementary Information
Schedule of Changes in the Authority’s Net OPEB Liability (Asset) and Related Ratios
2022 2021 2020 2019 2018 2017 2016
Service cost 1,223$ 973$ 891$ 1,703$ 1,967$ 1,900$ 1,836$
Interest 1,121 1,036 972 1,765 1,606 1,492 1,387
Change in assumptions (527) 209 - (19,859) (3,730) - -
Benefit payments (648) (543) (449) (420) (588) (643) (655)
Net change in total OPEB liability 1,169 1,675 1,414 (16,811) (745) 2,749 2,568
Total OPEB liability - beginning 24,001 22,326 20,912 37,723 38,468 35,719 35,151
Total OPEB liability - ending 25,170$ 24,001$ 22,326$ 20,912$ 37,723$ 38,468$ 35,719$
Plan fiduciary net position
Contributions - employer 656$ 543$ 449$ 420$ 5,307$ 1,220$ 1,162$
Net investment income (4,933) 1,657 3,092 3,325 86 486 382
Benefit payments (648) (543) (449) (420) (588) (643) (655)
Adminsitrative expenses (11) (12) (11) (22) (21) (21) (21)
Net change in plan fiduciary net position (4,936) 1,645 3,081 3,303 4,784 1,042 868
Plan fiduciary net position - beginning 45,974 44,329 41,248 37,945 33,161 32,119 31,251
Plan fiduciary net position - ending (b) 41,038$ 45,974$ 44,329$ 41,248$ 37,945$ 33,161$ 32,119$
Authority's net OPEB (asset) liability -
ending (a) - (b) $ (15,868) $ (21,973) $ 22,003 (20,336)$ $ (222) $ (5,307) $ 3,600
Plan fiduciary net position as a percentage of the
total OPEB liability
163.04% 191.55% 198.55% 197.25% 100.59% 86.20% 89.92%
Covered payroll 28,830$ 29,283$ $ 15,652 $ 15,123 $ 14,483 14,108$ $ 16,246
Authority's net OPEB liability (asset) as a
percentage of covered payroll 55.04% 75.02% 140.58% 134.47% 1.53% 37.62% 22.16%
Notes to Schedule:
($ In Thousands)
This schedule is intended to show information for 10 years. Additional years will be displayed as they become available.
Changes of assumptions: In 2021, changes of assumptions decreased from $19.7 m to $0 m.
59
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Required Supplementary Information
Schedule of the Authority’s OPEB Contributions
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
($ In Thousands)
Actuarial determined contribution $ 648 $ 543 $ - $ 1,849 $ 5,307 $ 1,220 $ 1,162 $ 9,014 $ 891 $ 850
Employer contribution 648 543 449 420 5,307 1,220 1,162 9,014 891 850
Contribution deficiency (excess) $ - $ - $ (449) $ 1,429 $ - $ - $ - $ - $ - $ -
Authority’s covered payroll $ 28,830 $ 29,289 $ 15,652 $ 15,123 $ 14,483 $ 14,108 $ 16,246 $15,819 $14,535 $10,971
Contributions as percentage of
covered payroll 2.25% 1.85% 2.87% 2.78% 36.64% 8.65% 7.15% 56.98% 6.13% 7.75%
60
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Required Supplementary Information
Employee Benefit Trust
Schedule of Investment Returns
2022 2021 2020 2019 2018 2017 2016
Annual money-weighted rate
of return, net of investment expense -11.25% 3.75% 7.26% 8.44% 0.28% 1.50% 1.22%
This schedule is intended to show information for 10 years. Additional years will be displayed as
they become available.
61
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Required Supplementary Information
Notes to Schedule of the Authority’s OPEB Contributions
Notes to Schedule:
Valuation Date
January 1, 2022 for 2021 and 2022; January 1, 2021 for 2020;
January 1, 2020 for 2019;
January 1, 2017 for years 2018, 2017 and 2016,
January 1, 2015 for 2015; January 1, 2012 for years
2012-2014; January 1, 2009 for years 2009-2011.
Methods and assumptions used to determine the actuarially determined contribution rates:
Actuarial Cost Method
Entry Age Normal for 2016-2022, Project Unit Credit Cost
Method for 2011-2015
Amortization Method
Full recognition of unfunded liability as of December 31 for
2016-2022, Level Dollar Open (1 year) for 2011-2015
Asset Valuation Method
Market value
Inflation Rate
2.3% for 2016-2022, not indicated for 2011-2015
Investment Rate of Return
4.75% for 2022, 4.5% for 2018-2021, 4.0% for all years prior
62
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Required Supplementary Information
Schedule of the Authority’s Proportionate Share of the Net Pension Liability - PERS
2022 2021 2020 2019 2018 2017 2016 2015
Authority's proportion of the net pension liability 0.32160% 0.28264% 0.24540% 0.23051% 0.23374% 0.23691% 0.22645% 0.21713%
Authority's proportionate share of the net pension liability 48,534,257$ 33,482,997$ 40,017,678$ 41,533,862$ 46,021,947$ 55,148,355$ 67,068,246$ 48,740,925$
Authority's covered payroll 28,822,311$ 23,847,619$ 20,932,830$ 17,904,605$ 16,464,640$ 16,199,280$ 16,245,862$ 15,434,227$
Authority's proportionate share of the net pension
liability as a percentage of its covered payroll 168.39% 140.40% 191.17% 231.97% 279.52% 340.44% 412.83% 315.80%
Plan fiduciary net position as a percentage of the total
pension liability 46.41% 51.52% 42.90% 42.04% 40.45% 36.78% 31.20% 38.21%
The amounts presented for each fiscal year were determined as of the previous fiscal year end.
This schedule is intended to show information for 10 years. Additional years will be displayed as they become available.
63
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Required Supplementary Information
Schedule of the Authority’s Contributions to the Public Employees’ Retirement System (PERS)
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Contractually required contribution $ 4,055,563 $ 3,310,048 $ 2,684,509 $ 2,242,154 $ 2,324,943 $ 2,194,698 $ 2,011,757 $ 1,866,720 $ 1,260,522 $ 1,137,100
Contributions in relation to the
contractually required contribution
4,055,563 3,310,048 2,684,509 2,242,154 2,324,943 2,194,698 2,011,757 1,866,720 1,260,522 1,137,100
Contribution deficiency (excess) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Authority’s covered payroll $ 28,822,311 $ 23,847,619 $ 20,932,830 $ 17,904,605 $ 16,464,640 $ 16,184,953 $ 16,245,862 $ 15,818,820 $ 14,535,358 $ 10,970,510
Contributions as a percentage of
covered payroll 14.07% 13.88% 12.82% 12.52% 14.12% 13.56% 12.38% 11.80% 8.67% 10.37%
64
New Jersey Economic Development Authority
(a component unit of the State of New Jersey)
Required Supplementary Information
Notes to Schedule of the Authority’s Contributions to the Public Employees’ Retirement System
(PERS)
Notes to Schedule
Valuation Date
Actuarially determined contribution rates are calculated as of
July 1, one year prior to the end of the fiscal year in which the
contributions are reported.
Methods and assumptions used to determine the actuarially determined employer contributions
are as follows:
Actuarial Cost Method
Projected Unit Credit Method
Amortization Method
Level Dollar Amortization
Remaining Amortization
Period
30 years
Asset Valuation Method
A five year average of market value
Investment Rate of Return
7.00% for 2022 and 2021, 7.30% for 2020 and 2019, 7.50% for
2018 and 2017, 7.65% for 2016, 7.9% for 2015, 2014 and 2013,
7.95% for 2012, 8.25% for 2011
Inflation
2.75% (Price), 3.25% (Wage)
Salary Increases
None for 2021, 2020 and 2019, 1.65% –5.15% for 2018, 2017 and
2016, 2.15% – 5.40% for 2015 through 2013, 4.52% for 2012,
5.45% for 2011
Mortality
Pub-2010 General Below-Median Income Employee mortality
table for male and female active participants. Mortality tables
are adjusted for males and for females. In addition, the tables
provide for future improvements in mortality from the base year
of 2010 using a generational approach based on the plan
actuary’s modified MP-2021 projection scale.
65
