The New Jersey Economic Development Authority (NJEDA) is now accepting applications for the New Jersey Zero Emission Incentive Program (NJ ZIP). This $15 million pilot program will provide vouchers for up to $100,000 to businesses and other organizations in the greater Newark and Camden areas to support the purchase of zero emission medium and heavy-duty (class 2b to class 6) vehicles (MHDVs) such as pickup trucks, vans, busses, and box trucks. This is a great opportunity for New Jersey’s franchised dealerships that offer these zero emission vehicles.
The application for the program is available at https://www.njeda.com/njzip/. Applications will be reviewed for eligibility and vouchers will be awarded on a first-come, first-served basis, until the $15 million has been dispersed.
NJ ZIP is being funded through New Jersey’s participation in the Regional Greenhouse Gas Initiative, a multi-state “cap-and-trade” program regulating carbon dioxide emissions.
The size of vouchers will vary depending on the class of vehicle being purchased. A class 2b vehicle will be eligible for a minimum voucher of $25,000 up to as much as $100,000 for class 6 vehicles.
The pilot program will only be available to businesses located in the greater Newark and greater Camden areas, but the vehicles may be purchased anywhere in New Jersey. For a complete list of eligible municipalities and more information about NJ ZIP visit https://www.njeda.com/njzip/.