Senator Michael Testa’s legislation, S-4407, has been signed into law, establishing a $500 million tax credit program for manufacturers in New Jersey. The measure represents the largest manufacturing investment in the state’s history. Senator Testa is Co-Chair of the New Jersey Legislative Manufacturing Caucus.
The new law creates the “Next New Jersey Manufacturing Program,” which aims to support innovation and attract new investments to the sector. It also seeks to generate high-quality jobs for residents.
“Manufacturing has long been the backbone of New Jersey’s economy, and this historic investment reaffirms our commitment to revitalize this vital sector. The ‘Next New Jersey Manufacturing Program’ is designed to drive innovation, attract new investment, and create high-quality careers for our residents. Through targeted incentives, we’re giving manufacturers and entrepreneurs the tools they need to grow, compete globally, and succeed right here in the Garden State. It is a modern revival of the message proudly displayed on the Lower Trenton Bridge— ‘Trenton Makes, The World Takes.’” said Senator Michael Testa (R-01).
The tax credit program will provide financial incentives aimed at strengthening local manufacturing businesses and supporting economic growth across New Jersey.
