Latest news with #NJEDA
Zawya
30-04-2025
- Business
- Zawya
Governor Murphy announces MOU between Masari Association and the New Jersey Economic Development Authority
Manama, Bahrain — As part of its Governor-led economic mission to the Gulf Arab States, Choose New Jersey facilitated the signing of a Memorandum of Understanding (MOU) between the Masari Association, an independent Bahraini youth organization, and the New Jersey Economic Development Authority (NJEDA). The MOU, which was signed by Tim Sullivan, CEO of the NJEDA, and witnessed by Governor Phil Murphy, creates internship opportunities in New Jersey for highly-skilled Bahraini youth and strengthens the long-term economic and cultural connections between the Kingdom of Bahrain and the State of New Jersey. 'This MOU is a shining example of how international collaboration can empower the next generation of global leaders,' said Governor Phil Murphy. 'We are proud to open new doors for New Jersey businesses and Bahraini students to grow our thriving economy, contribute to its innovation, and help Bahraini youth return home with meaningful experiences that benefit both of our regions.' The Masari Association, which operates under the authority of Bahrain's Ministry of Youth Affairs, offers young people local and international programs that promote professional development and workforce preparedness. Through this MOU, Masari and NJEDA will collaborate to connect Bahraini youth with New Jersey-based companies, enabling real-world internships that align with Bahrain's economic vision and priorities. 'We are proud to witness the signing of the Memorandum of Understanding between the Masari Association and the New Jersey Economic Development Authority—an important milestone in advancing our shared commitment to youth empowerment,' said Rawan Bint Najeeb Tawfiqi, Minister of Youth, Masari Association. 'This strategic partnership marks a significant step toward fostering meaningful collaboration that will open new doors for Bahraini youth to engage with and learn from a leading global economic environment. By gaining practical experience and developing key professional skills, our young people will be better equipped to thrive in today's dynamic world. At the Ministry of Youth Affairs, we remain steadfast in our dedication to supporting initiatives that cultivate empowered, capable, and future-ready youth who are prepared to contribute meaningfully to Bahrain's sustainable development and prosperity.' The MOU outlines a series of collaborative efforts, including information sessions between Masari participants and New Jersey industry leaders, direct engagement with hiring organizations, and coordination of intern placement and onboarding. Both parties will work closely to ensure the experience supports the goals of its host companies while giving Bahraini youth exposure to the New Jersey business environment and culture. 'We believe that investing in young people today builds stronger economies tomorrow,' said Tim Sullivan, CEO of The New Jersey Economic Development Authority. 'We look forward to welcoming Bahrain's talented youth into New Jersey companies, helping them grow professionally and strengthening the bonds between our two regions into the future.' 'Choose New Jersey is proud to support programs that empower future leaders and build global partnerships,' said Wesley Mathews, President and CEO of Choose New Jersey. 'This internship program allows two forward-thinking economies to invest in the long-term success of our economies while creating a valuable cultural experience for the next generation.' About Choose New Jersey Choose New Jersey is the state's leading non-profit business attraction organization. We harness the collective power of New Jersey's business, government, labor, and academic sectors to expand New Jersey's economy. We work globally, using our marketing expertise, concierge business development services, deep knowledge of the state, and convening power, in collaboration with state government, to empower businesses, entrepreneurs, leaders, and innovators to make New Jersey their home. About the NJEDA The New Jersey Economic Development Authority (NJEDA) serves as the State's principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey's long-term economic competitiveness. Learn more at About Masari Association Masari Association is a national initiative established by Royal Decree No. (12) of 2024, under the umbrella of the Ministry of Youth Affairs in the Kingdom of Bahrain. Spearheaded by His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Work and Youth Affairs and Chairman of the Supreme Council for Youth and Sports (SCYS), Masari is dedicated to empowering Bahraini youth through education, skills development, and career-building opportunities. The Association plays a strategic role in bridging the gap between youth and global opportunities by facilitating access to international scholarships, internships, and professional training programs. Through strong collaborations with embassies, international universities, global corporations, and multilateral organizations, Masari identifies high-impact opportunities and ensures that young Bahrainis are equipped to thrive in a competitive global landscape. Masari operates a comprehensive outreach model, allowing youth to register interest in opportunities, receive tailored guidance, and navigate the application process with the association's support. The association also actively fosters public-private partnerships to enhance talent development and national workforce readiness. With a forward-looking vision and government-backed mandate, Masari continues to be a catalyst for youth development in Bahrain, paving the way for the next generation of leaders, innovators, and professionals.
Biz Bahrain
30-04-2025
- Business
- Biz Bahrain
Masari and NJEDA sign MoU to facilitate internship opportunities for Bahraini youth
Rawan bint Najeeb Tawfiqi, Minister of Youth Affairs, and Phil Murphy, Governor of the State of New Jersey, attended the signing of a Memorandum of Understanding (MoU) between the Masari Authority in the Kingdom of Bahrain and the New Jersey Economic Development Authority (NJEDA). The agreement aims to provide structured internship opportunities for Bahraini youth in New Jersey, in line with Bahrain's Economic Vision 2030. It also supports youth empowerment and promotes cross-cultural professional exchange. Minister Tawfiqi emphasised the significance of the partnership, noting that the MoU represents a key milestone in the national drive to equip Bahraini youth with practical training and international exposure. She underscored the Ministry's commitment to supporting initiatives that strengthen the skills and capabilities of young Bahrainis, enabling them to contribute effectively to sustainable national development. Governor Murphy highlighted the potential of the partnership to serve as a model for international cooperation in youth development. He noted that the initiative would allow Bahraini youth to gain exposure to New Jersey's economic landscape, helping to foster mutual growth and experience-sharing. The MoU was signed by Bassam Abdulrahman Altattan, Chairman of the Masari Authority, and Tim Sullivan, Chief Executive Officer of NJEDA. It outlines a range of collaborative activities, including introductory sessions with industry leaders, engagement with leading businesses and institutions, and coordination of internship placement and training. Altattan affirmed the importance of the agreement in advancing youth development and international engagement. He stated that the Masari Authority is keen to ensure that young Bahrainis benefit from hands-on training in developed economic settings, supporting their skills development and readiness for the labour market. Sullivan noted the long-term value of investing in youth, expressing NJEDA's readiness to host Bahraini interns and contribute to strengthening regional cooperation. Wesley Mathews, CEO of Choose New Jersey, affirmed the organisation's support for the initiative, describing the internship programme as an opportunity to build lasting ties between two dynamic economies and equip young people with meaningful cultural and professional experiences. BNA(R)
Yahoo
07-04-2025
- Business
- Yahoo
N.J. I-80 sinkhole saga has end date, fully reopened by June 25
There's an end in sight to New Jersey's I-80 sinkhole saga, officials have announced, as aid comes to affected small businesses in the area. Interstate 80 has been closed, in one or both directions, just north of Wharton, in Morris County, since February, and faced repeated repair delays as more sinkholes opened up. As repairs progressed, others followed, closing down more and more lanes. At one point, there was no timeline at all for reopening. But last week, officials dropped dates for reopening the entire highway by the end of June. May 4 should see the two westbound lanes reopened, followed by the two eastbound ones on May 18 and 'full restoration of all lanes in both directions' by June 25, state Assemblywoman Aura Dunn said in a statement. 'NJDOT is bringing in expert teams and employing infrastructure-sensitive methods to ensure the repairs are not only effective, but designed to support long-term stability and safety for the roadway,' Dunn said. 'I know how frustrating this situation has been for residents and commuters, and I want to thank you for your continued patience.' The precursor to the current headache, which has snarled commuter traffic and clogged work-around roads, came in December, when a sinkhole opened up in the roadway the week before New Year's. Another opened in February at almost the same spot. Small businesses affected by the closures can apply for low-interest loans of up to $2 million from the U.S. Small Business Administration. In addition, Gov. Phil Murphy is working to establish a $5 million grant program, the Route 80 Business Assistance Grant Program, for affected businesses and nonprofit organizations, a measure the New Jersey Economic Development Authority (NJEDA) board is slated to vote on this week. 'It's been a grueling several weeks for Morris County business owners located off the Route 80 corridor. From Wharton to Roxbury, small businesses have had fewer customers, resulting in a decline in sales and revenue. I'm happy to announce today that help is on the way,' Murphy said in a statement. 'The NJEDA's planned grant program, paired with the U.S. Small Business Administration's Economic Injury Disaster Loans, will inject much-needed capital into small businesses. We are committed to doing this as swiftly as possible to ease the burden on local businesses.'
Yahoo
17-03-2025
- Business
- Yahoo
NJ awards up to $104 million tax break in Nokia Bell Labs 10-story New Brunswick tower
The New Jersey Economic Development Authority (NJEDA) Board has approved tax credits through the Aspire Program to support the second New Jersey Health + Life Science Exchange's (HELIX) building in New Brunswick, known as H-2. Nokia Bell Labs, the industrial research arm of Nokia, will serve as the main tenant of H-2, a 10-story, nearly 370,000-square-foot building that will be an innovation hub in the city's downtown. The first phase of the HELIX was approved for Aspire tax credits in 2023. The HELIX will bring together New Jersey's public, private and academic sectors to create a world-class hub of innovation and a strong base of support and talent pipeline for innovative companies. The HELIX campus, consisting of three separate buildings, will provide 1.5 million square feet of multifaceted, state-of-the-art environments supporting the gamut of health and life science organizations and professions. NJEDA CEO Tim Sullivan said the Aspire Program fuels catalytic development projects that transform communities into dynamic, transit-oriented hubs, ideal for living, working, and doing business. "With today's Aspire award, Nokia Bell Labs addition to the HELIX will further support New Brunswick's innovation ecosystem by creating cutting-edge technology, high-quality jobs, and long-term economic growth that will benefit generations of New Jerseyans,' he stated. More: Rutgers building $567 million new medical school, research facility in New Brunswick Last month, the NJEDA announced it will partner with Nokia Bell Labs to launch a Strategic Innovation Center (SIC) consisting of the NJ Nokia Innovation Center and Bell Labs Venture Studio, both of which will eventually be located at H-2. Both components will be focused on enabling startups to accelerate and commercialize intellectual property from Nokia Bell Labs and local universities with an emphasis in the fields of communication, artificial intelligence, cloud computing and optical and wireless networks. H-2 will be a research and development facility comprised of chemistry and biology laboratories, data centers, 3D printing areas, machine shops, office space and conference rooms. The main lobby of H-2 will include a technology showcase and a coffee shop, which will have access to the Paseo, a public outdoor space connecting the Rutgers campus, the Robert Wood Johnson University Hospital District, the New Brunswick train station and the Government and Arts District in downtown New Brunswick. SJP Properties is the lead developer of H-2 and was approved for Aspire tax credits of up to 80 percent of the eligible project cost, not to exceed $103.9 million. Aspire is a place-based economic development program created under the New Jersey Economic Recovery Act of 2020 to support mixed-use, transit-oriented development with tax credits to commercial and residential real estate development projects that have financing gaps. All residential Aspire projects must include at least 20 percent affordable housing. As a performance-based program, projects must certify that all commitments established at time of approval have been met before receiving their first disbursement of tax credits. This article originally appeared on NJ awards up to $104M tax break in downtown New Brunswick development
Associated Press
29-01-2025
- Automotive
- Associated Press
Envirotech Vehicles, Inc. (NASDAQ:EVTV) Announces Sales Order Pipeline Update in the State of New Jersey for 2025
OSCEOLA, AR / ACCESS Newswire / January 29, 2025 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), today announced that the company has orders for 48 vehicles to New Jersey customers that have been awarded vouchers under the New Jersey Zero Emission Incentive Program ('NJ ZIP'). If the customers that have been awarded vouchers elect to purchase a vehicle through the program, the company expects to generate up to $5,275,200 in revenue for the vehicles. President of Envirotech, Jason Maddox, emphasized the company's strategic focus and commitment to electric commercial vehicle customers in New Jersey. 'As we start to build out our sales force, Envirotech's 2025 sales pipeline is already off to a strong start. These orders have been the result of a deliberate and focused effort in the State of New Jersey, supported by the recent expansion of our New Jersey service center. Thanks to the NJ ZIP, small business owners can offset some of their upfront electric vehicle costs making it more affordable to go electric.' Maddox also highlighted the company's broader growth strategy: 'Our focused and complete efforts in New Jersey serve as a blueprint for future expansion. We plan to grow our network by opening additional dealerships and service centers in other key cities, extending the same high level of service and support to customers across the country.' He further emphasized the financial benefits for small businesses, adding: 'The reduced upfront vehicle investment, combined with lower maintenance costs than traditional ICE vehicles as well as fuel cost savings, significantly improves the bottom line for our customers. We anticipate delivering on these vehicle orders beginning within the next 45 days.' NJ ZIP is a $90 million voucher pilot launched by New Jersey Economic Development Authority ('NJEDA') for Medium and Heavy Duty Zero-Emission Vehicles. This pilot is funded by Regional Greenhouse Gas Initiative ('RGGI') proceeds allocated to NJEDA for the purposes of reducing harmful emissions, especially in communities disproportionately impacted by transportation emissions, and creating economic opportunity within the state. The program will provide vouchers with base values ranging between $20,000 to $175,000. The goal of the program is to accelerate the adoption and use of zero-emission medium and heavy-duty vehicles within New Jersey; to reduce emissions within the state; and to continue to allow NJEDA to determine and stimulate market-readiness, assess effectiveness of funding levels and program design, and test methodologies for measuring economic impact of such adoption. The pilot is being used as a vehicle to support the growth of the NJ zero-emission vehicle ecosystem, with accelerated adoption of zero-emission vehicles being the first step to attracting more jobs and investment, as other zero-emission vehicle programs and regulations roll out across multiple state agencies. Business owners that are awarded vouchers are not required to purchase the electric vehicles listed in their application and may cancel existing orders to purchase the company's vehicles. Business owners interested in learning about Envirotech's vehicle offering under NJ ZIP, and what vouchers may be available to them from the New Jersey Economic Development Authority should contact Envirotech at About Envirotech Vehicles Envirotech Vehicles, Inc. (NASDAQ: EVTV) is a technology company dedicated to revolutionizing the electric vehicle landscape by designing and manufacturing electric commercial vehicles that offer sustainable, efficient, and cost-effective transportation solutions. Committed to driving the future of mobility, Envirotech is pushing the boundaries of innovation and sustainability. For more information, visit Cautionary Statement Regarding Forward-Looking Statements Statements made in this press release that relate to future plans, events, financial results, prospects, or performance are forward-looking statements. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions, and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risk that customers may not elect to redeem their voucher to purchase an electric vehicle and the risks and uncertainties disclosed in reports filed by Envirotech Vehicles with the Securities and Exchange Commission, all of which are available online at All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words 'will,' 'estimated,' 'planned,' 'expected,' 'believes,' 'strategy,' 'opportunity,' 'anticipated,' 'outlook,' 'designed,' and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Envirotech undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances, or unanticipated events. Contact: Envirotech Vehicles, Inc.
