In an effort to encourage business growth, New Jersey is offering various tax credits and exemptions to businesses expanding their operations in the state. Specifically these tax benefits will apply to corporate headquarters expansions and to corporations involved in the business of research and development and/or manufacturing. Effective July 1, 2004, eligible businesses with 1000 or more full-time employees that relocate 500 or more full-time employees within the state may be exempt from sales tax liabilities on the purchase of machinery, equipment, and office furnishings to outfit the additional location and additional workforce. New headquarters relocating to the state with at least 250 employees are also eligible for the exemption. The period of exemption extends until the new or renovated facility is completely operational. (A3111, June 21, 2004)