• chapter 1B.  BUSINESS AND INDUSTRY PROMOTION
  • 34:1B-114. Business Relocation Assistance Grant Program established

   The Business Relocation Assistance Grant Program is hereby established in the Department of Commerce and Economic Development and shall be administered by the Commissioner of the Department of Commerce and Economic Development. The purpose of the program is to encourage economic development and job creation. To implement that purpose, and to the extent that funding for the program is available, the program may provide grants in an amount up to and including 50% of the total allowable relocation costs, but in no case shall the amount of an individual grant exceed 80% of the projected new income tax revenues from the new jobs created by a grant applicant.