New Jersey tax credits you can buy or transfer: film, HPRP, brownfield, Emerge, Aspire and Evergreen

By the Tax Field Guide editorial team. Published 2026-11-02. Facts checked 2026-11-02. Related strategies: Research and Development Credits, Accelerated Depreciation, Solar Investment Credits.

Education only; not tax, legal or investment advice. Tax rules change, and how they apply depends on your facts. No outcome is guaranteed.

New Jersey runs most of its business tax credits through the New Jersey Economic Development Authority (NJEDA), and many of them can be sold. The usual tool is a "tax credit transfer certificate": the credit holder applies to NJEDA and the Division of Taxation, then sells the certificate to a buyer with New Jersey tax to offset. The statute sets a minimum price, usually 85% of the credit's value, and the buyer cannot resell. This guide sorts New Jersey's credits by what the law and NJEDA say about selling them. For every New Jersey credit we track, with amounts and sources, see the New Jersey state page. For other states, see transferable state tax credits.

Credits that can be sold through a transfer certificate

Film and digital media credit

The Garden State Film and Digital Media Jobs Act credit is 35% of qualified film production expenses (30% for goods and services used within 30 miles of Columbus Circle), and 40% for studio partner and film-lease projects. Digital media projects get 30%, or 35% with southern New Jersey vendors. The initial applicant can sell the credit through an NJEDA transfer certificate for at least 75% of face value, to buyers with New Jersey corporation business, gross income or insurance premiums tax. The program runs for tax years ending before July 1, 2039.¹

Historic Property Reinvestment Program (HPRP)

HPRP covers 50% of rehabilitation costs up to $8 million, 60% up to $12 million in qualified incentive tracts or government-restricted municipalities, and 45% up to $50 million for transformative properties.² Holders can sell or transfer their certificates one time. The price cannot be less than 85% of the transferred amount, or 75% for new residential low-income housing tax credit projects with an approved plan, and the buyer cannot transfer it again. The credit can be used against corporation business tax and insurance premiums taxes.³ Unused credit can be carried over for the next 9 accounting or privilege periods.⁴

Brownfields Redevelopment Incentive Program (BRIP)

BRIP pays 60% of remediation costs up to $8 million, or 80% up to $12 million in government-restricted municipalities or qualified incentive tracts. It can be sold for at least 85% of value (75% for LIHTC projects).⁵ It is a one-time credit used in the period it is awarded, with no carryforward.⁶ NJEDA was not accepting new applications until new rules are issued.⁵

Emerge Program

Emerge gives per-job credits of $500 to $4,000 per new job a year, up to $8,000 with bonuses. NJEDA says the credits can offset corporation business tax or insurance premiums tax, can be transferred for no less than 85% of their value, or can be surrendered to the Division of Taxation for 90% of their value.⁷ The statute extended Emerge to March 1, 2029, and Emerge and Aspire share a program cap of $1.1 billion a year for six years.⁷

Aspire Program

Aspire is a gap-financing credit for real estate projects. Its credits can be sold or assigned through a transfer certificate in amounts of at least $25,000 for at least 85% of the transferred credit, with lower floors for some residential projects, and the buyer cannot resell.⁴ NJEDA paused new Aspire applications on July 23, 2026 and says it expects to reopen them this fall with revised criteria.⁸

Innovation Evergreen Program

The Evergreen Program works the other way around. NJEDA auctions up to $300 million of corporation business tax credits in total and uses the proceeds to co-invest with venture firms in New Jersey startups. Each bid must be for at least $1 million of credits at no less than 85% of face value, and buyers commit to serve on the Evergreen Advisory Board and mentor portfolio companies. A buyer can later get a transfer certificate and sell the credit once; 10% of what it receives goes to the State. Unused credit carries forward 7 privilege periods.⁴ NJEDA lists the corporations that have bought credits and reports unallocated fund capital on its program page.⁹

Narrower or no transfer options

Research and development credit. New or expanding emerging technology and biotechnology companies can surrender unused credits to other corporation business taxpayers through the CBT Tax Benefit Certificate Transfer Program.¹⁰
Food Desert Relief credit. NJEDA itself may sell part of a year's credits, at no less than 85%, to fund grants and loans. The law has no sale provision for awardees.⁴
Neighborhood revitalization credit. The credit is applied by the business that received the certificate, and unused credit is forfeited.¹¹
Angel investor credit. This credit is refundable for individuals, and corporations may take a refund or carry it forward, so there is no need for a sale.¹²

Two older credits are expired. The Division of Taxation lists the former Film Production and Digital Media Tax Credit as expired July 1, 2015, and the Remediation Credit covered only costs from privilege periods beginning in 2004 through 2006.¹²

What a buyer should check

The NJEDA approval and the tax credit transfer certificate itself, and the program it comes from.
That the price meets the statutory floor (75% for film credits, 85% for most others) and that the seller has not already transferred the certificate.
Which New Jersey taxes the credit can offset: corporation business tax, insurance premiums tax, and for film credits, gross income tax.
For job and real estate credits, the CPA certification NJEDA requires before credits are issued.

See questions to ask a tax credit broker and how state tax credit transfers work for the general process.

New Jersey firms listed here

Firms whose own sites describe related New Jersey work (listing is not an endorsement):

EisnerAmper, Iselin: the independent CPA certification reports NJEDA requires for Aspire, Emerge and other incentive awards.
MVO Cost Segregation, Princeton: cost segregation studies for real estate owners.
Cost Recovery Solutions, Tinton Falls: cost segregation and 179D and 45L energy tax services.

Browse every listed firm on the advisor directory.

Common questions

Can you buy New Jersey tax credits?

Yes. Film, Historic Property Reinvestment, brownfield, Emerge, Aspire and Innovation Evergreen credits can be sold through an NJEDA tax credit transfer certificate, usually for at least 85% of value (75% for film credits). A buyer cannot resell a purchased certificate.

What is the minimum price for a New Jersey tax credit transfer?

The floor is 75% of face value for film and digital media credits and generally 85% for HPRP, brownfield, Emerge, Aspire and Evergreen credits, with lower floors for some low-income housing projects.

Can New Jersey Emerge credits be cashed out?

NJEDA says Emerge credits can be surrendered to the Division of Taxation for 90% of their value, or transferred to a buyer for at least 85%.

Is the New Jersey Aspire program open?

Not right now. NJEDA paused new Aspire applications on July 23, 2026, and says it expects to reopen them this fall with revised criteria.

Education only; not tax, legal or investment advice. Talk to a qualified professional before acting.

Sources

NJ Division of Taxation, Garden State Film and Digital Media Jobs Act Credit, https://www.nj.gov/treasury/taxation/gardenstatefilm.shtml
NJEDA, Historic Property Reinvestment Program, https://www.njeda.gov/historic-property-reinvestment-program/
NJEDA, Historic Property Reinvestment Program FAQ (December 2025), https://www.njeda.gov/wp-content/uploads/2025/12/HPRP-FAQ-2025-12-15.pdf
N.J. P.L.2020, c.156 (New Jersey Economic Recovery Act of 2020), https://pub.njleg.gov/bills/2020/PL20/156_.HTM
NJEDA, Brownfields Redevelopment Incentive Program, https://www.njeda.gov/brownfield-redevelopment-incentive/
N.J. P.L.2024, c.61, https://pub.njleg.gov/Bills/2024/PL24/61_.HTM
NJEDA, Emerge Program, https://www.njeda.gov/emerge/
NJEDA, Aspire Program, https://www.njeda.gov/aspire/
NJEDA, New Jersey Innovation Evergreen Program, https://www.njeda.gov/evergreen/
NJ Division of Taxation, Tax Bulletin TB-114, https://www.nj.gov/treasury/taxation/pdf/pubs/tb/tb114.pdf
NJ Division of Taxation, Form GIT-311 instructions, https://www.nj.gov/treasury/taxation/pdf/current/git311.pdf
NJ Division of Taxation, Corporation Business Tax Credits and Incentives, https://www.nj.gov/treasury/taxation/cbt-creditlist.shtml

Professionals whose public pages show they offer a strategy covered here. Listed by number of matching strategies, then name. A listing is not a recommendation or an endorsement; see how advisors are listed, and how to vet any advisor.