New Jersey Economic Development Authority

Job Description

Job Title:           Intern                                                                Date:    February 1, 2021

Division:           Office of Economic Transformation

Department:      Operations

Reports To:       Director (or delegate)

FLSA Status:    Exempt ¨     Non-Exempt  ¨     Hourly  þ

Employment Status:      Full Time ¨    Part Time ¨    Temporary þ

Position ID:       A00023

Job Summary

Collaborate with a team of highly motivated financial professionals, who are passionate about advancing New Jersey’s emerging technology and life sciences community and who support this sector with unique financing products.  

The successful candidate will assist the team in reviewing applicants participating in a $60 Million annual tax incentive program - the Technology Business Tax Certificate Transfer Program (NOL) and will be the first line reviewer of applicants within preset guidelines.   As time permits, the candidate will also review applicants for a $35 Million annual tax incentive program, the Angel Investor Tax Credit Program (ATC).   The applicant will have a first-hand insight of New Jersey businesses which are looking to create business solutions around new technologies such as education technology, financial technology and scientific cures for cancer and rare disease, and the capital needs of these companies to grow their businesses in the state of New Jersey. 

Interns will also receive exposure to business development and venture funding while gaining an understanding of New Jersey’s emerging technology and biotechnology community. This internship is designed to prepare students for a fast-paced business environment. The experience also includes interaction with a peer mentor, workshops, and networking events.

Essential Duties and Responsibilities

• Reviews training documentation on legislatively created incentive programs and participates in training exercises to gain familiarity of program requirements
• Reviews applications through analysis of financial statements, company structure, employment logs, intellectual property, and other pertinent company documents to ensure applicants comply with minimum eligibility criteria
• Collaborates with assigned Officer to discuss application status and list deficiencies in the NOL application checklist
• Works with NOL Program Lead to coordinate follow-up with NOL consultants and Direct Applicants on missing items and/or clarifications pertaining to the NOL applications
• Researches the geographic location of prior awardees under the NOL program to assure they have maintained a New Jersey presence for five years after receiving a NOL award. If a breach of the requirement is identified, the intern will work with the Program Captain in calculating a clawback penalty payment.   
• Learns and utilizes the EDA’s Customer Relationship Management (CRM) database per departmental standards including populating key application data in various CRM records
• Participates in ancillary training on other technology-led economic development financing initiatives including Edison Innovation Venture Loans, Venture Fund Limited Partnership Investments, Collaborative Workspace Grants, and Equity Co-Investments in NJ based Tech Companies
• Reviews assigned Angel Tax Credit program applications for completeness and prepares Approval Packages for Director
• Reports progress in weekly team meetings
• Participates in business development meetings and or industry events as assigned/applicable
• Promotes teamwork and communication to encourage an interactive, cooperative, collaborative, and customer focused work environment among division, EDA staff, and external customers.
• Performs other duties as may be assigned

Required Skills and Abilities

• Advanced skills in research
• Ability to work with various excel spreadsheets and software applications
• Initiative and creativity
• Interest in start-ups and emerging technology businesses
• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff
• Ability to prioritize workload, be highly organized, detail-oriented, handle various tasks simultaneously, and work independently within limited time constraints with little or no supervision
• Must be able to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff
• Demonstrate respectful behavior and promote teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers
• Proficient in Microsoft Office Suite and the ability to learn new software packages

Required Qualifications

• Must reside in New Jersey for the summer
• Preference for a student who attends a New Jersey domiciled College/University
• Must be available to work full time starting on June 1st and with very limited time off July 1st through August 10^th.
• Student in a bachelor’s degree program in statistics, accounting, finance, economics, economic development, and/or related field. Minimum GPA 3.0
• Must have completed 1^st Level Accounting Class, with the ability to read a GAAP prepared financial statement
• Strong analytical and research skills,
• Ability to think and work independently.
• Capable of handling a large workload
• Excellent written and oral communication skills,
• Proficiency in Word and Excel for Windows
• Must be detail oriented and a team player

Work Location: Commercialization Center for Innovative Technologies (CCIT) in North Brunswick/Remote

Physical Demands

• Minimal

Certificates and Licenses Required

• None

Travel

• Minimal

Note

The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job description. Conversely, all duties performed on the job may not be listed. This job description is intended to convey information essential to understanding the scope, general nature and level of work performed by job holders within this job.  This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

Your employment at NJEDA is voluntary and subject to termination by you or NJEDA at will, with or without cause, or with or without notice, at any time.  Nothing in this job description shall be interpreted to conflict, eliminate or modify the employment-at-will status of NJEDA employees.  

NJEDA reserves the right to amend/revise this job description as necessary to meet current and changing business needs.

Equal Opportunity Employer

Position Requirements

• Must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
• Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.