Citing greater-than-anticipated demand, the New Jersey Economic Development Authority (NJEDA) announced it is increasing the pool of available tax credits to a total of $30 million for its upcoming Food Desert Relief Tax Credit Auction.
The expansion raises the cap from the originally planned $25 million. Applications to participate in the auction remain open through Friday, Oct. 9 at 5 p.m.
Proceeds generated from the tax credit auction are funneled directly into programs designed to strengthen food access and reduce hunger in underserved communities throughout New Jersey where food security challenges are most acute.
These funds support future grants, loans, and technical assistance initiatives aligned with the priorities of the Food Desert Relief Act. The auction proceeds also complement existing NJEDA food security programs—such as FEED NJ, which utilizes past auction funds to invest $30 million into innovative, sustainable, and scalable food access solutions.
How the Auction Works for Taxpayers
Through the auction, eligible New Jersey corporate taxpayers and insurance companies can purchase tax credits to offset their state tax liability by up to 15%.
To participate, companies do not need to be located within a designated food desert, operate within the food industry, or make ongoing commitments beyond the initial purchase transaction.
Key Details and Deadlines
- Available Credits: Up to $30 million.
- Application Deadline: Friday, Oct. 9 at 5:00 PM.
- Eligible Participants: New Jersey corporate taxpayers and insurance companies looking to offset 2026 tax liabilities.
Interested businesses can access applications and learn more by visiting the NJEDA official website or by contacting NJEDA Customer Care at 844-965-1125.
