Gov. Phil Murphy announced two programs to help breathe new life into old buildings in New Jersey.

The programs are known as the Brownfields Redevelopment Incentive and the Brownfields Loan Program.

The first one gives a one-time tax credit to support Brownfield remediation projects. The second one offers loans to help cover the costs of those projects. They will allow businesses to use existing structures as opposed to building new ones.

"We don't need to knock down New Jersey's history to invite today's economy in…All we need to do is to look at old spaces with new eyes,” Murphy said.

Monday’s announcement highlighted Mill One in Hamilton. The 19th-century mill is being redone to house nonprofits, businesses and artists.