Legislation would establish the Next New Jersey Manufacturing Program to attract investment and support homegrown industries

(TRENTON) — The New Jersey General Assembly took a major step toward revitalizing New Jersey’s manufacturing sector by advancing a bill to create the Next New Jersey Manufacturing Program.

Sponsored by Assembly Majority Leader Lou Greenwald and Assemblywoman Verlina Reynolds-Jackson, Bill A5687 would aim to drive major investments to the state, create high-quality jobs, and solidify New Jersey’s leadership in the manufacturing economy. As federal trade policies and tariffs prompt companies to reassess their global supply chains, many are exploring ways to bring manufacturing back to the United States. This program would offer a powerful incentive for those businesses to choose New Jersey, helping to reshape critical industries while creating well-paying, permanent jobs for New Jersey residents.

By reallocating $500 million in tax credits originally designated for the NJ Aspire and Emerge programs, this initiative strategically refocuses state resources to support long term, job generating manufacturing projects. In support of the state’s broader clean energy goals, the bill would also reserve $100 million over the first two years specifically for manufacturers of clean energy products, aligning economic development with environmental progress.

"The Next New Jersey Manufacturing Program makes clear that our state is open for business and we are ready to compete for the industries and innovation that will define the future,” said Assembly Majority Leader Greenwald (D-Camden, Burlington). "This is about building a stronger, smarter New Jersey that prioritizes good paying jobs and long-term economic growth."

“Manufacturing is more than machines; it’s people, neighborhoods, and opportunities,” said Assemblywoman Reynolds-Jackson (D-Hunterdon, Mercer). “This bill is a bold investment in our workforce and our future. With the right tools, New Jersey can lead the way in bringing back high quality manufacturing jobs.”

Under the proposed program, the Economic Development Authority would provide tax incentives for eligible businesses that make, acquire, or lease at least $10 million in capital investments, create at least 20 fill-time jobs, and provide a competitive manufacturing wage in the county in which the project is located.