New Jersey’s Neighborhood Revitalization Tax Credit (NTRC) Program, through the state’s Department of Community Affairs, provides a terrific opportunity for corporations and businesses to support projects that enrich and enhance our local communities AND offset their state tax liabilities. Through the NRTC program, companies (including LLC’s, S-Corps, and Partnerships) that have a tax liability in New Jersey of $25,000 or more can purchase dollar-for-dollar tax credits up to $1 million, and direct those credits to invest in state-approved community development projects led by nonprofit organizations like Norwescap.
The process to purchase tax credits is quick and simple, and the impact in our communities is exponential! For more information, visit the Department of Community Affairs’ NRTC website, and review the Guide for Business Entities to learn how your company can participate. You can also direct questions to Bradley Harrington, (609) 633-6273 or Bradley.Harrington@dca.nj.gov.
A list of NRTC Projects eligible for investment will be posted on the DCA website on or around November 29, 2021. Businesses can enroll to purchase tax credits and select their projects for investments up until December 15, 2021.
Norwescap’s Work through NRTC
Since 2009, Norwescap has focused on revitalization and community development efforts in Phillipsburg, NJ, where our headquarters and several of our program facilities are located. Our NRTC investors have supported our efforts to rehabilitate and repair neighborhood homes; promote homeownership; grow local businesses; strengthen the community; and enhance quality of life for those who work and live in Phillipsburg. We are seeking a total investment of $500,000 to support our state-approved NRTC project for 2022. Please click here for more details on our project, and reach out to Mark Valli, 609-240-8053 or email@example.com, with any questions.