NewsNJEDA expands Food Desert Relief Tax Credit Auction funding to $30 million in trenton
The New Jersey Economic Development Authority expanded tax credits to $30 million. Bidders can offset their New Jersey tax liability by up to 15 percent. Corporate taxpayers and insurance companies qualify for the auction. Applications close on Friday, October 9, 2026, at 5 p.m.
Check your upcoming tax filings if you run a corporation in New Jersey. The New Jersey Economic Development Authority just increased the Food Desert Relief Tax Credit Auction pool to a total of $30 million due to heavy demand, according to the NJEDA. Corporations and insurance companies looking to lower their New Jersey tax liability can bid in the auction to offset taxes by up to 15 percent. The best part is that your business does not need to sit in a food desert or operate in the food industry to participate, and no ongoing commitments are required after the purchase. Proceeds from the auction fund grants and loans that strengthen food access across underserved communities in the state. Past auctions already funded initiatives like FEED NJ, which is investing $30 million into food access programs. The catch is the deadline, which hits fast on Friday, October 9, 2026, at 5 p.m. For a company facing a steep state tax bill this year, picking up these credits can shave down what you owe while keeping cash in reserve. Review your numbers with your accountant today and head to the NJEDA website to get your application in before the clock runs out.