Senators Michael Testa and Linda Greenstein have introduced a new bill aimed at bolstering New Jersey’s manufacturing sector. The legislation, known as the ‘Next New Jersey Manufacturing Program,’ seeks to encourage investments and job creation within the state by offering incentives to manufacturers.
“Manufacturing has long been the backbone of New Jersey’s economy, and it’s time we reaffirm our commitment to this vital sector,” said Senator Testa. He emphasized that the program is intended to foster innovation, attract investments, and create quality careers for residents. “By providing targeted incentives, we’re not only supporting existing manufacturers but also encouraging entrepreneurs to set roots in the Garden State.”
Senator Greenstein highlighted the significance of the legislation, stating it will drive major investments in New Jersey’s manufacturing sector. “With the generous tax incentives included, the ‘Next New Jersey’ program will create high-quality jobs and solidify our state’s status as a leader in clean energy manufacturing,” she said.
The proposed program includes $500 million in tax credits for manufacturers operating within New Jersey.
For those interested in more details about this legislative effort, they can refer to bill S-4407.
