The Next New Jersey Manufacturing Program

On Thursday, September 25, 2025, the New Jersey Economic Development Authority (NJEDA) opened applications for the Next New Jersey Manufacturing Program. This program can provide a tax credit, up to $150 million, to eligible manufacturers who apply and are accepted based on proposed new jobs and capital investment.

To be eligible, the applicant:

• Must be a facility used at least 50% for manufacturing activities. Businesses who refurbish or repair, or who are in the business of retail, wholesale, packaging, software development, resource extraction, waste incineration or agriculture are not eligible.
• Must make a capital investment at a qualified business facility (self-built, purchased, or leased) of not less than $10,000,000.
• Must create at least 20 new full-time jobs at their qualified facility, with salaries not less than 120% of the median manufacturing jobs in the county in which the qualified facility is located.
• Must maintain the facility during the commitment period approved by the NJEDA.
• Must have a collaborative relationship with a university or college, high school, workforce development organization, vocational or technical school, labor organization, business or employer association or any combination.
• Must maintain 100% of its existing New Jersey employees and offer health benefits; any construction must be at prevailing wages and follow affirmative action.
• Must be in good standing with state of New Jersey agencies and have a proper business registration.

Other restrictions and criteria may apply.

The eligible manufacturer may receive a tax credit award of the lesser of:

• 0.1% of the eligible business’s total capital investment multiplied by the number of full-time jobs,
• 25% of the eligible business’s total capital investment, and
• $150 million.

This is a long-term commitment for the eligible company. The tax credits will be provided over 5 years, and the company must maintain the jobs and facility for 10 years.

Stackable bonuses of 1%, up to 5%, are available for:

• Opportunity zone eligible census tract
• NJ Certified Woman Business Enterprise (WBE)
• NJ Certified Minority Business Enterprise (MBE)
• NJ Certified Veteran Business Enterprise (VOB)
• Other State Business Certifications
• At least one active Collective Bargaining Agreement or Labor Harmony Agreement (with a union on list published by Department of Labor) in effect

Applications will be accepted at https://programs.njeda.com/en-US/NJEDAPrograms/ until March 1, 2029, or until funds are exhausted. 

For more information, contact a member of HBK Manufacturing Solutions at 330-758-8613 or manufacturing@hbkcpa.com.