Company Directory - New Jersey Economic Development Authority
Company Details - New Jersey Economic Development Authority
New Jersey Economic Development Authority
WebsiteUSA
New Jersey Economic Development Authority (NJEDA) is a government entity focused on promoting economic growth in New Jersey through various initiatives and support programs for businesses and communities.
CCI Score
CCI Score: New Jersey Economic Development Authority
18.66
-0.01%
Latest Event
NJEDA Leads Launch of Collaborative AI Hub
On March 27, 2025, the New Jersey Economic Development Authority (NJEDA) partnered with Governor Murphy, Princeton University, Microsoft, and CoreWeave to officially open the NJ AI Hub in West Windsor Township. The hub aims to drive AI research and development, foster innovation, and support workforce training in a collaborative environment that includes ethical practices and inclusive growth.
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SABOTEUR
New Jersey Economic Development Authority is currently rated as a Saboteur.
Latest Events
- MAR272025
On March 27, 2025, the New Jersey Economic Development Authority (NJEDA) partnered with Governor Murphy, Princeton University, Microsoft, and CoreWeave to officially open the NJ AI Hub in West Windsor Township. The hub aims to drive AI research and development, foster innovation, and support workforce training in a collaborative environment that includes ethical practices and inclusive growth.
+70
Public and Political Behavior
March 28
The initiative demonstrates robust public and political engagement by leveraging a public-private-academic partnership to spur innovation and sustainable economic development. This government-led collaboration helps counter authoritarian economic practices by promoting transparency, inclusion, and community-focused growth.
+60
Technology and Services Impact
March 28
By establishing the NJ AI Hub, NJEDA is fostering a progressive technological ecosystem that emphasizes ethical AI research, comprehensive workforce training, and responsible innovation. This effort not only supports economic growth but also enhances equitable access to emerging technologies, aligning with progressive, anti-authoritarian values.
- MAR182025
On March 18, 2025, the NJEDA Board approved two initiatives—the Next New Jersey Program – AI, which provides tax credits to businesses investing in AI data centers and related activities, and the AI Innovation Challenge Administration Grant Program, which allocates $3.8 million in grant funding to spur state-wide AI innovation. These programs aim to boost economic growth, foster job creation by requiring a minimum of 100 new full‑time positions, and facilitate collaboration between private businesses, research institutions, and the government.
+70
Public and Political Behavior
March 28
The NJEDA Board’s decision reflects proactive public sector engagement designed to foster inclusive economic growth and innovative policy making. By championing these initiatives, the agency strengthens state leadership and promotes policies that benefit marginalized communities.
NJEDA Board Approves Two Programs to Advance New Jersey’s Leadership in Artificial Intelligence
+80
Technology and Services Impact
March 28
By advancing initiatives that leverage artificial intelligence, NJEDA is promoting technological innovation with broad societal benefits. These programs not only stimulate advanced research and development but also create opportunities for a more inclusive and modern economy.
NJEDA Board Approves Two Programs to Advance New Jersey’s Leadership in Artificial Intelligence
+60
Economic and Structural Influence
March 28
The programs are designed to stimulate economic growth, encourage private investment, and bolster structural improvements in New Jersey's AI sector. This approach promotes job creation and sustainable economic development, aligning with a progressive economic agenda.
NJEDA Board Approves Two Programs to Advance New Jersey’s Leadership in Artificial Intelligence
- FEB192025
On February 19, 2025, NJEDA announced a strategic partnership with Nokia Bell Labs to launch an innovation center that includes the NJ Nokia Bell Labs Innovation Center and the Bell Labs Venture Studio. The initiative, supported by a $25 million investment from NJEDA and complementary funding from Nokia, aims to drive research in next-generation communications, AI, cloud computing, and related technologies, while fostering startup growth, job creation, and inclusive economic development.
+60
Public and Political Behavior
March 28
NJEDA's active role in forging a public-private partnership with Nokia Bell Labs demonstrates a politically engaged, forward-thinking approach to economic and community development. The initiative underscores a commitment to inclusive growth and progressive public policy.
NJEDA & Nokia Bell Labs Partner to Launch Strategic Innovation Center
+50
Business Practices and Ethical Responsibility
March 28
The initiative reflects sound business practices and ethical responsibility by channeling significant financial resources towards sustainable economic development and fair job creation, benefiting local communities and supporting inclusive growth.
NJEDA & Nokia Bell Labs Partner to Launch Strategic Innovation Center
+40
Technology and Services Impact
March 28
By fostering research and development in key technological fields such as AI, cloud computing, and advanced communications, the Strategic Innovation Center enhances New Jersey’s technological ecosystem, supporting progressive innovation and societal progress.
NJEDA & Nokia Bell Labs Partner to Launch Strategic Innovation Center
+30
Economic and Structural Influence
March 28
The investment and strategic partnership empower local economic growth and structural development, creating jobs and stimulating New Jersey's innovation corridor while enhancing overall public economic infrastructure.
NJEDA & Nokia Bell Labs Partner to Launch Strategic Innovation Center
- JAN272025
On January 27, 2025, Governor Murphy, along with Princeton University, Microsoft, CoreWeave, and the New Jersey Economic Development Authority, announced the launch of the NJ AI Hub. The initiative aims to foster AI innovation, research, workforce development, and sustainable economic growth in New Jersey with an anticipated investment of over $72 million.
+60
Public and Political Behavior
March 28
The announcement demonstrates strong public and political leadership with Governor Murphy’s active involvement. By partnering with high-profile educational and technological institutions, the initiative promotes inclusive, sustainable growth, which aligns with anti-authoritarian and progressive values.
+60
Technology and Services Impact
March 28
The NJ AI Hub initiative leverages advanced technology to drive innovation and workforce development in AI, fostering a progressive tech ecosystem. Its focus on education, research, and responsible AI applications contributes to an inclusive technological progress rather than enabling repressive technologies.
+70
Economic and Structural Influence
March 28
The initiative promotes structural economic growth by investing in new technology sectors and creating sustainable, high-quality jobs. This economic intervention enhances community resilience and supports inclusive development, key elements in countering authoritarian economic consolidation.
- JUL092019
A state task force criticized the NJ Economic Development Authority for lacking sufficient diligence when awarding $260 million in tax incentives to Holtec International, a politically connected nuclear services firm. The task force’s investigation revealed that key details, including payments involving a TVA employee and alleged involvement by Holtec's CEO, were not properly scrutinized, raising concerns over potential regulatory capture and political favoritism.
-50
Public and Political Behavior
March 28
The task force pointed out that NJEDA failed to exercise the necessary due diligence in vetting award applicants. This lapse potentially allowed politically connected companies to secure massive tax incentives without proper oversight, reflecting poor public and political behavior.
New questions about politically connected nuclear firm that received millions in N.J. tax incentives
-30
Regulatory Capture
March 28
The investigation raised serious concerns about regulatory capture, suggesting that political connections, including those linked to influential figures like South Jersey Democratic boss George Norcross, may have unduly influenced NJEDA’s decision-making process regarding tax incentives.
New questions about politically connected nuclear firm that received millions in N.J. tax incentives
- MAY022019
An investigation and public hearing revealed that the New Jersey Economic Development Authority mismanaged its tax credit programs by awarding incentives based on dubious job creation claims. Testimonies and lawsuits allege falsification of employment data and political interference, undermining promised job growth and harming workers.
-50
Public and Political Behavior
March 28
The agency's handling of tax credit awards under questionable conditions—with allegations of political pressure and data manipulation—reflects poor public and political behavior that undermines accountability and harms the workforce.
Company got tax credits to create jobs, but let employees go within months, former manager says
-50
Business Practices and Ethical Responsibility
March 28
The mismanagement of promised job creation—evidenced by improper verification of employment data and mass layoffs—reflects unethical business practices that fail workers and undermine community trust.
Company got tax credits to create jobs, but let employees go within months, former manager says
-40
Economic and Structural Influence
March 28
Allegations of altering employment data and yielding to political influence suggest that the agency’s economic strategies may be compromised by regulatory capture, undermining structural efforts to foster genuine economic development.
Company got tax credits to create jobs, but let employees go within months, former manager says
- MAR022019
On March 2, 2019, a task force appointed by Gov. Phil Murphy conducted a public hearing to investigate allegations that the NJEDA mismanaged over $11 billion in corporate tax breaks. Critics argue that the agency’s awarding process favored wealthy corporations through opaque practices and lacked sufficient oversight, prompting demands for reform and accountability.
-60
Public and Political Behavior
March 28
The NJEDA’s handling of the tax incentive program has been criticized for exhibiting politically motivated favoritism by improperly awarding corporate tax breaks. This lack of accountability and perceived alignment with corporate interests, rather than serving broader public benefits, aligns with anti-democratic practices, thereby warranting a negative score in Public and Political Behavior.
-50
Business Practices and Ethical Responsibility
March 28
The process by which over $11 billion in corporate tax breaks were allocated through NJEDA has raised serious questions over ethical business practices and responsibility. The opaque awarding process and apparent neglect of adequate oversight have contributed to a system that privileges corporate interests over broader community welfare.
- DEC212013
Nearly a decade ago, the NJEDA awarded Holtec International $260 million in economic incentives to do business in Camden. A subsequent investigation by the Office of the State Comptroller and a governor’s task force revealed significant oversight failures and inadequate due diligence, prompting efforts to recover millions in credits from companies that failed to deliver on job creation promises.
-50
Business Practices and Ethical Responsibility
March 28
The NJEDA's decision to award an unprecedented $260 million in incentives without proper oversight demonstrates unethical business practices and cronyism. This misallocation of taxpayer funds undermines public trust and fails to support community-focused economic development.
Some businesses got tax credits they didn’t deserve. Why can’t N.J. get the money back?
-30
Regulatory Capture
March 28
The failure of NJEDA to exercise due diligence and proper oversight in awarding the incentives points to regulatory capture. This scenario reflects a situation where a government entity prioritizes corporate interests over transparent and equitable public policy.
Some businesses got tax credits they didn’t deserve. Why can’t N.J. get the money back?
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