New Jersey is betting big on rebuilding its industrial base and green energy sector with a new $500 million tax credit program. The Next New Jersey Manufacturing Program Act, signed this past August by Gov. Phil Murphy, is designed to draw in capital and create high-quality jobs.
The NJ Economic Development Authority (NJEDA) runs the program. As of Sept. 25, the application window opened and will stay open until the allocated funds run out. Projects can receive credits covering up to 25 percent of their total investment, with limits of $150 million per business.
To qualify, applicants must commit to creating at least 20 new jobs and ensure 80 percent of those jobs remain in New Jersey. Wages must meet prevailing standards. Also required: a partnership with a local institution (a college, vocational school, or nonprofit) that invests at least $10 million in training or support.
“From the industries that powered our early growth to the advanced facilities driving innovation today, manufacturing continues to play a vital role in shaping New Jersey’s economy and its future,” Governor Murphy said in a statement in August. “Since taking office, my administration has advanced policies that create good-paying jobs, attract cutting-edge manufacturers, and expand opportunity in communities across the state.”
The act prioritizes investment in three sectors:
- Clean energy technologies, such as offshore wind parts, battery systems, and electrification components.
- Heavy construction and equipment manufacturing, especially for new facilities or expansions.
- Food and beverage processing, though pure farming operations are exempt; manufacturers tied to food supply chains are eligible.
Applicants should submit job projections, wage scales, environmental reviews, capital budgets, and timelines through NJEDA’s portal. A sample application packet is available there to help guide applicants.
New Jersey already hosts around 10,000 manufacturing firms employing roughly 236,000 people. Together, they drive $50-$54 billion in state output, according to the Department of Labor. Proponents see this act as more than an incentive—a shift toward keeping manufacturing and clean energy anchored in New Jersey’s economy. This news comes just months after Stay NJ 2025, offering property tax relief to Jersey seniors.
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.