NJEDA Board Approves New Program Incentivizing Zero-Emission Vehicles in Camden and Newark
On Friday, January 15, the New Jersey Economic Development Authority (NJEDA) Board of Directors approved the New Jersey Zero Emission Incentive Program (NJ ZIP). The $15 million pilot program will fund 100 to 300 vouchers ranging in value from $25,000 to $100,000 for businesses and institutional organizations in the greater Newark and Camden areas for the purchase of new, zero emission medium and heavy-duty vehicles (MHDVs).
Bonuses will be available for small businesses; women-, minority-, and veteran-owned businesses; vehicles that are manufactured in New Jersey; small businesses that scrap their eligible MHDVs; and vendors that invest in driver education and training.
Vouchers will be available on a first-come, first-served basis with $5 million set aside for micro and small businesses. Initially, NJ ZIP will only be available in the greater Newark and greater Camden areas, defined as the overburdened communities within or intersected by a circle with a 10-mile radius centered on Newark and Camden.
More information is available at https://www.njeda.com/njzip.