Senate Approves Historic $500M Boost for NJ Manufacturing

On June 30th, the New Jersey Senate passed unprecedented bipartisan legislation sponsored by Senator Michael Testa (R-1) and Senator Linda Greenstein (D-14) that would make the largest manufacturing investment in state history, creating a $500 million tax credit program for New Jersey manufacturers. Senator Testa and Senator Greenstein are co-chairs of the New Jersey Legislative Manufacturing Caucus.

“Manufacturing has long been the backbone of New Jersey’s economy, and this historic investment reaffirms our commitment to revitalize this vital sector,” said Sen. Testa. “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.’”

“This is a landmark piece of legislation that will drive major investments in New Jersey’s manufacturing sector,” said Senator Linda Greenstein (D-Middlesex/Mercer). “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. I am proud to sponsor this bill and will continue to push New Jersey toward a more economically prosperous and sustainable future.”

Senator Testa’s bill, S-4407, would create the “Next New Jersey Manufacturing Program” to encourage substantial investment in the State and generate new jobs and economic opportunities.