The Companies that Received Millions through the New Jersey EDA’s NOL Program This Year
The New Jersey Economic Development Authority (EDA) announced that 39 companies were approved to share over $46 million through the state’s Technology Business Tax Certificate Transfer Program, also known as the Net Operating Loss (NOL) program. The amount was up from $35 million last year.
In essence, the NOL program lets tech and biotech companies with protected intellectual property sell their New Jersey tax losses and/or R&D tax credits to raise cash to finance their growth and operations.
The program provides a critical source of funding for emerging companies during a stage when non-dilutive growth capital is difficult to obtain, the EDA notes. This year, tech companies took home nearly $17 million in non-dilutive funding, while biotech companies took home about $29 million. A total of 22 tech and 17 biotech companies participated.
|
Company |
Municipality |
County |
Type of Company |
|
Acuitive Technologies |
Allendale |
Bergen |
Tech |
|
Princeton |
Mercer |
Biotech |
|
|
Princeton |
Mercer |
Biotech |
|
|
Tinton Falls |
Monmouth |
Biotech |
|
|
Princeton |
Mercer |
Tech |
|
|
Holmdel |
Monmouth |
Tech |
|
|
Warren |
Somerset |
Biotech |
|
|
Cranbury |
Middlesex |
Tech |
|
|
Rutherford |
Bergen |
Biotech |
|
|
Princeton |
Mercer |
Tech |
|
|
Edison |
Middlesex |
Biotech |
|
|
Union |
Mercer |
Biotech |
|
|
Monmouth Junction |
Middlesex |
Biotech |
|
|
Berkeley Heights |
Union |
Biotech |
|
|
Northvale |
Bergen |
Biotech |
|
|
Hoboken |
Hudson |
Tech |
|
|
Edison |
Middlesex |
Tech |
|
|
Mount Olive |
Morris |
Tech |
|
|
Kearny |
Hudson |
Tech |
|
|
New Brunswick |
Middlesex |
Biotech |
|
|
Woodcliff Lake |
Bergen |
Tech |
|
|
Atlantic City |
Atlantic |
Tech |
|
|
Bedminster |
Somerset |
Biotech |
|
|
Lyndhurst |
Bergen |
Tech |
|
|
Princeton |
Mercer |
Tech |
|
|
Livingston |
Essex |
Tech |
|
|
Avenel |
Middlesex |
Tech |
|
|
River Edge |
Bergen |
Biotech |
|
|
Pennington |
Mercer |
Tech |
|
|
Cranbury |
Middlesex |
Biotech |
|
|
Monmouth Junction |
Middlesex |
Tech |
|
|
Princeton |
Mercer |
Tech |
|
|
Piscataway |
Middlesex |
Tech |
|
|
Princeton |
Mercer |
Biotech |
|
|
New Providence |
Union |
Biotech |
|
|
Fairfield |
Essex |
Tech |
|
|
Monmouth Junction |
Middlesex |
Tech |
|
|
Totowa |
Passaic |
Biotech |
|
|
Hamilton |
Mercer |
Tech |
