| Photo by Hugo Coulbouée on Unsplash
TRENTON, NJ — The New Jersey Economic Development Authority (NJEDA) Board recently approved the Cultural and Arts Facilities Expansion (CAFE) Program. This initiative aims to bolster New Jersey’s arts sector by supporting the development and rehabilitation of cultural arts facilities, such as performing arts centers and museums.
According to NJEDA, the CAFE Program’s goals include:
-Increasing cultural arts activities across the state.
-Attracting visitors and boosting engagement with the arts in underserved communities.
-Revitalizing downtown areas
“Arts and culture serve as a cornerstone of New Jersey’s economy, contributing billions of dollars in economic activity each year while showcasing the incredible diversity, creativity, and talent of our residents,” said NJEDA Chief Executive Officer Tim Sullivan. “The CAFE Program will help address the economic challenges the industry has faced since the pandemic by fostering new cultural hubs and bringing dynamic arts experiences to communities across the state.”
Since 2022, New Jersey’s arts and culture sector has significantly contributed to the state’s economy. It was a $27.3 billion industry, representing over 138,000 jobs. The combined impact of arts and culture industries accounted for 3.62% of New Jersey’s gross domestic product (GDP) and 3.2% of the state’s workforce.
Additionally, according to NJEDA, the impact of New Jersey’s non-profit arts industry resulted in $116.9 million in total tax revenue to federal, state, and local governments in 2022.
The CAFE Program will provide tax credits through a competitive process to cultural arts institutions to build or renovate facilities, including aquariums, historical societies, libraries, galleries, museums, performing arts centers, or other eligible cultural or arts facilities. Eligible awardees receive tax credits covering 100 percent of eligible project costs, up to $75 million.
Assembly Speaker Craig J. Coughlin said the arts and culture sector is vital to New Jersey’s identity. “Our support ensures these community anchors can continue flourishing, generating local jobs and drawing new visitors to our state in the process,”
Eligible applicants, government entities, and not-for-profits whose primary mission is arts and culture can receive tax credits covering 100% of eligible project costs, up to $75 million. The program is expected to open for applications in Spring 2025. For more information and a complete list of eligibility requirements, click here.
