FOR IMMEDIATE RELEASE: Friday, December 14, 2018


Business Entities Can Make a Large Community Impact by Investing in the Neighborhood Revitalization Tax Credit Program

TRENTON, NJ – The New Jersey Department of Community Affairs today announced that it is seeking investors for the Neighborhood Revitalization Tax Credit Program (NRTC). The NRTC Program provides one of the largest community tax credits available in the United States – an 80 percent tax credit for funds provided to nonprofits facilitating meaningful and effective revitalization activities. By using this state tax credit, investors may also be able to lower their federal tax liability.  NRTC funds support housing and economic development initiatives, assist small businesses and microenterprises, contribute to programs intended to promote diversity and mixed-income neighborhoods. By investing in projects and organizations with a strong record of performance in their community’s businesses to catalyze revitalization in neighborhoods across the State. 

“The NRTC Program provides businesses an opportunity to create long-lasting partnerships with exceptional nonprofit organizations and to be a part of a shared vision for future neighborhood revitalization,” said Lt. Governor Sheila Y. Oliver, Commissioner of the Department of Community Affairs. 

Through a competitive Request for Proposals, the Department has identified 19 NRTC organizations and projects that are qualified for funding. Interested investors can review the  Qualified Projects Pool on the Department’s website (at the NRTC Program webpage) for information about each qualified project,  along with contact information for its sponsoring nonprofit organization. Businesses that are active in New Jersey and have a state tax liability may submit a “Business Entity Application” to apply for the NRTC tax credit, indicating the amount of funding they would like to contribute and the projects and organizations they would like to support. NRTC is authorized to receive up to $12.5 million in contributions from business entities (a corporation, partnership or individual) that are interested in using the tax credit to support a nonprofit’s community revitalization efforts. 

The Department will process the submitted “Business Entity Application” forms in the order they are received, and will allocate funding to qualified projects based on the ranked choices. Business Entity Applications must be submitted by (or before) 4 PM on December 18, 2018. 

The NRTC Program has made significant economic and community impacts in urban communities throughout the state.  Since inception, NRTC programming dollars have invested $108 million in 15 municipalities for 137 projects of which 88 have been completed.   Since 2010, NRTC has yielded the construction of 97 new housing units; rehabilitation of 365 housing units; assistance to 64 commercial business ventures; creation of 17 commercial spaces; and job training assistance, job placement services, and youth education/mentoring opportunities for 2100 individuals. 

For businesses interested in investing in the program, or for more information on the Neighborhood Revitalization Tax Credit Program, please visit or contact Bradley Harrington at (609) 633-6273 or



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Tammori Petty
Lisa Ryan
Gina Trish
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