Who Took advantage of the State’s Tech Business Tax Certificate Program for 2013?

Photo: Michele Brown is the new head of the New Jersey Economic Development Authority. Photo Credit: NJ EDA

Michele Brown is the new head of the New Jersey Economic Development Authority. | NJ EDA

In November, the New Jersey Economic Development Authority (EDA) announced that 65 companies had been approved to share the $60 million allocation available through the State’s Technology Business Tax Certificate Transfer Program in Fiscal Year 2013.

This program enables technology and biotechnology companies with fewer than 225 U.S. employees to sell net operating losses and research and development tax credits to unrelated profitable corporations for at least 80 percent of their value, up to a maximum lifetime benefit of $15 million per business. Companies use this cash to finance their operations.

Following is a list of the 16 tech companies that applied to and received permission to take advantage of the program for Fiscal Year 2013.

Company Name

City

County

Vidyo, Inc.

Hackensack

Bergen

MDX Medical, Inc. (dba Vitals, Inc.)

Lyndhurst

Bergen

ManageIQ, Inc.

Mahwah

Bergen

DVTel, Inc.

Ridgefield Park

Bergen

I.D. Systems, Inc.

Woodcliff Lake

Bergen

Enpirion, Inc.

Hampton

Hunterdon

Antenna Software, Inc.

Jersey City

Hudson

SANpulse Technologies, Inc.

Jersey City

Hudson

Voxware, Inc.

Hamilton

Mercer

Princeton Optronics, Inc.

Mercerville

Mercer

Ocean Power Technologies, Inc.

Pennington

Mercer

IntegriChain, Inc.

Princeton

Mercer

SightLogix, Inc.

Princeton

Mercer

Alphion Corporation

Princeton Jct

Mercer

Blacklight Power, inc.

Cranbury

Middlesex

Princeton Lightwave, Inc.

Cranbury

Middlesex

Read More This year’s recipients will receive an estimated $920,000, which is 15 percent more than last year and over double the Fiscal Year 2011 average, the EDA said.

According to Kathleen W. Coviello, director, technology & life sciences for the Edison Innovation Fund N.J.’s unique program has created buzz in other states and has been studied by the federal government.

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