New Jersey: New Angel Investor Credit Program
05 Feb, 2013
Gov. Chris Christie has signed S-581 to spur investment and growth in New Jersey’s innovative and emerging technology businesses. The $25 million Angel Investor Tax Credit Program will provide credits for up to 10 percent of a qualified investment in an emerging technology business with a physical presence in New Jersey and that conducts research, manufacturing, or technology commercialization in the state. New Jersey does not presently offer credits against either the corporate business tax or gross income tax for investments in emerging industries.
Of the credit, Governor Christie says: “Many innovations that make it to market across the world begin here in New Jersey in cornerstone industries like pharmaceuticals and the life sciences and information technology with high-skill, high-wage jobs that anchor our economy and communities. To secure our state’s leadership in these fields and foster growth and innovation in cutting-edge emerging technology industries, we must have policies that support New Jersey’s own start-ups in these fields.”
Illustration by Stuart Miles at Free Digital Photos.net
Compiled from press release issued by Governor Christie’s office.
