N.J. Admin. Code § 19:31O-1.5

Current through Register Vol. 56, No. 21, November 4, 2024

Section 19:31O-1.5 - Submission requirements

(a) Each application to the Authority shall include the following information in an application format prescribed by the Authority:

1. Business information shall include the following:

i. The name of the business;

ii. The address of the business;

iii. The type of business;

iv. Principal products and services;

v. The contact person for this application;

vi. The New Jersey tax identification number;

vii. The Federal tax identification number;

viii. The total number of employees in New Jersey;

ix. The total number of years of operation in New Jersey including evidence that the business or a predecessor entity has been operating, in whole or in part, in this State for at least 10 years prior to the filing of the application;

x. Certification that the business applying for this program is not in default with any other program administered by the State of New Jersey;

xi. Certification that the availability of financial assistance from the State as provided in this program at the site proposed for approval is an important inducement to the business to undertake the project and to relocate the full-time jobs relating to the project in the State; and

xii. Any other necessary and relevant information as determined by the Secretary for a specific application.

2. Project information shall include the following:

i. An overall description of the proposed project;

ii. The current location(s) (address(es)) and number of employees for each site that is subject to this application;

iii. The location(s) employees will be relocated from and identify the location(s) employees will be relocated to as per this application. Include number of employees for all sites;

iv. A description of the quality of the full-time jobs retained, including, but not limited to, the salaries and benefits provided to retained full-time employees;

v. A description of any capital investments made by the business at the new business location;

vi. Identification of the site of the new business location and its consistency with the smart growth goals, strategies and policies of the State Development and Redevelopment Plan established pursuant to section 5 at P.L. 1985, c. 398 (N.J.S.A. 52:18A-200) or if the site is outside the jurisdiction of the State Plan, evidence of approval under the applicable comprehensive management plan;

vii. A project schedule that identifies projected move dates for each site;

viii. A schedule of short-term and long-term employment projections of the business in the State based upon the relocation;

ix. The terms of any lease agreements or details of the purchase or building of the new business location;

x. An estimate of the projected retained State tax revenues resulting from the relocation;

xi. A description of the type of contribution the business can make to the long-term growth of the State's economy and a description of the potential impact on the State's economy if the jobs are not retained;

xii. Evidence of alternative relocation plans, such as an analysis of the cost effectiveness of remaining in this State versus relocation under the alternative plans;

xiii. If the applicant is a tenant with capital investment expenses incurred on behalf of the tenant by the landlord, the tenant's chief executive officer and the landlord shall certify to the amount of additional tenant improvements that the landlord is undertaking on behalf of the tenant and shall certify that the rent amortizes these tenant improvements over the term of the lease; and, the tenant shall provide evidence satisfactory to the Authority to support such certification, which may include evidence of comparable market rents; and

xiv. Any other necessary and relevant information as determined by the Secretary for a specific application.

3. The employee information shall include the following:

i. A written certification the employees that will be the subject of this application are full-time employees and receive health care benefits;

ii. The number of employees at the project site that are included in a BEIP grant calculation. Compare this to the number of employees that are subject to an application made under this section. Include the New Jersey Economic Development Authority BEIP project identification number;

iii. Evidence that the New Jersey Economic Development Authority has been notified of the applicant's potential relocation to another site within New Jersey, if the applicant is a BEIP grantee;

iv. A certification that the business will maintain 95 percent of the retained full-time jobs for at least the first two years of the commitment duration, and will maintain a minimum of 90 percent of the retained full-time jobs for the remainder of commitment duration; and

v. Any other necessary and relevant information as determined by the Chief Executive Officer for a specific application.

N.J. Admin. Code § 19:31O-1.5

Amended by R.2010 d.178, effective 8/16/2010.
See: 42 N.J.R. 904(a), 42 N.J.R. 1900(b).
Deleted (a)4.
Recodified from N.J.A.C. 12A:2A-2.5 and amended by R.2010 d.231, effective 10/18/2010.
See: 42 N.J.R. 1495(b), 42 N.J.R. 2436(a).
In the introductory paragraph of (a), substituted "Authority" for "Commission" twice; in (a)3v, substituted "Chief Executive Officer" for "Secretary"; and deleted (a)4.
Amended by R.2011 d.243, effective 10/3/2011.
See: 43 N.J.R. 1415(a), 43 N.J.R. 2622(a).
In (a)2xii, deleted "and" from the end; added new (a)2xiii, and recodified former (a)2xiii as (a)2xiv.

Recodified from 19:31-16.5 56 N.J.R. 807(a), effective 5/6/2024