New Jersey Reassigning In-State Employees (NJ RISE) Program

The New Jersey Economic Development Authority (NJEDA) Board approved the creation of a new program that incentivizes businesses to re-assign New Jersey residents who are working in another state to a New Jersey location. The $35 million New Jersey Reassigning In-State Employees (NJ RISE) Program will provide grants to companies to relocate their New Jersey-resident employees, helping to redirect tax revenue to New Jersey by ensuring that residents’ income taxes stay in state. The NJ RISE Program is a pilot program that will provide grants to businesses principally located out of state that re-assign New Jersey residents currently assigned to work in a state that employs the “convenience of employer” income taxation rule to work in a New Jersey location. The grant is equal to the amount of New Jersey Gross Income Tax withholdings of the re-assigned resident employees during one tax year of the business, not to exceed $500,000 in the aggregate per business. The sum of all grants approved will not exceed $35 million per State fiscal year.