| Program | New Jersey Manufacturing Program |
|---|---|
| Category | Financial Incentive |
| Implementing sector | State |
| Last Update | |
| State | New Jersey |
| Administrator | New Jersey Economic Development Authority |
| Website | https://www.njeda.gov/nextnjmfg/ |
| Budget | $500,000 |
| Start Date | |
| Technologies | Solar Photovoltaics |
New Jersey A.B. 5687 created the Next New Jersey Manufacturing Program, a comprehensive tax credit designed to encourage manufacturing activities including clean energy component production at qualified businesses. The tax credit is equal to the lesser of 1) the product of 0.1% of the eligible business's total capital investment multiplied by the number of new full-time jobs; 2) 25% of the eligible business' total capital investment; or 3) $150,000,000.
Eligible actions for the credit include manufacturing solar components, and the calculations for capital investment include installing a solar system on the property to the extent that the capital investments have not received grant financial assistance from another state funding source.
Please see the program website for further details and eligibility requirements.
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