Business Report: New tax credit program, end of PPE discount, gas prices rise

New NJ tax credit program provides opportunities for smaller businesses to participate

Will New Jersey’s latest tax credit program for businesses create new jobs? That’s the goal of the Emerge program, which is part of the multibillion-dollar New Jersey Economic Recovery Act that became law earlier this year. NJ Economic Development Authority CEO Tim Sullivan says companies are eligible for tax credits if they add or retain jobs. This program replaces the old Grow NJ program, which was criticized for, among other things, focusing too much on big corporations. The new program provides opportunities for smaller businesses to participate.

Friday was the last day for businesses to apply for discounted personal protective equipment in a program offered by the EDA. The EDA provided the discounts to nearly 13,000 businesses.

As the state loosens restrictions on businesses, Rutgers University is offering a new program that certifies employers who are protecting their workers and customers from COVID-19. The Rutgers High Road Employer Program provides one-on-one consultations with business owners to make sure they are complying with health and safety standards and best practices. Twenty-two New Brunswick businesses have gone through the program already, and are able to display a seal of approval on their doors.

Airbnb, the online vacation site marketplace, will continue to forbid parties and events at any of its listed properties through the end of summer. The ban went into place last year due to COVID-19.  Airbnb says it decided to extend the ban indefinitely in the interest of public health.

Gas prices rose this week ahead of the holiday weekend. In New Jersey, gas prices now average $3.06 a gallon, according to AAA. A year ago, New Jersey gas prices averaged $2.3 a gallon.

WATCH: Business Report: Reviving NJ economy, strong home sales, state pension investments, unemployment claims

MORE: Business Report: Small business grants, companies divided on remote work, NJ residents’ bigger tax bills

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