Offshore Wind Economic Development
Funds approved New Jersey offshore-wind facilities through ten-year capital-investment and job-creation tax credits.
The New Jersey Economic Development Authority administers this credit for businesses investing in approved offshore-wind energy facilities. A facility business must make at least USD 50 million of qualifying capital investment. A tenant can qualify when at least USD 17.5 million is invested in the area it leases. The project must also create 300 new full-time employees who are subject to New Jerseโฆ
Major capital investment in an Economic Development Authority-approved offshore-wind facility and the creation of 300 qualifying jobs.
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