NJBIA President and CEO Michele Siekerka issued the following statement regarding Gov. Phil Murphy’s signing of the Next New Jersey Manufacturing Program bill today. The law results in the state utilizing $500 million from the existing Aspire and Emerge credits to incentivize in-state manufacturing programs and job creation. The program will be administered by the New Jersey Economic Development Authority.
“This law represents a significant and targeted investment for New Jersey’s manufacturing sector and our economy, with no new additional funding required.
“It will support much-needed workforce development in manufacturing amid both federal tariff and supply chain uncertainty that challenges these important businesses. And it will incentivize a wide range of manufacturing activities, including advanced manufacturing, food and beverage production, life sciences, defense, and clean energy component manufacturing.
“NJBIA thanks Governor Murphy for signing this important bill into law, as well as overwhelming bipartisan support within the Legislature. Let’s get to work.”
