Tax Credits for NJIEF
TRAC is one of eight select New Jersey-based corporations approved by the New Jersey Economic Development Authority (NJEDA) to purchase tax credits to fuel the state’s next generation of innovative businesses through the New Jersey Innovation Evergreen Fund.
The fund increases access to strategic resources and venture capital in New Jersey, enabling equity investments by the state in high-growth companies. In addition to TRAC, some other approved companies include Comcast Cable, Verizon Communications and Cross River Bank.
Referencing the eight approved corporations, New Jersey Governor Phil Murphy noted that, “This strategic investment will not only support New Jersey’s entrepreneurs, but will also ensure that more companies start, grow and stay in this great state.” For more information, visit: njeda.com