Manufacturing

Bond Financing: Long-term financing for creditworthy manufacturing companies, 501(c)(3) not-for-profit organizations, and exempt facilities.

Personal Protective Equipment (“PPE”) Manufacturing Tax Credit: Provides $10 million in investment tax credits per year for businesses that invest in the production of PPE during the 2020, 2021, and 2022 tax years. The program aims to increase the availability of critical public healthcare products and create manufacturing jobs by supporting investment in PPE manufacturing facilities and equipment. Tax credits are awarded based on the number of jobs created ($10,000 per job) and additional credits are given for meeting certain operating or locational objectives.

Salem County Energy Sales Tax Exemption: Provides an energy sales tax exemption for the retail sales of electricity and natural gas and their transport to manufacturing businesses located in Salem County, New Jersey. The business must be a manufacturer employing at least 50 people, with at least 50% of the workforce directly involved in the manufacturing process. The exemption is only applicable if the energy and utility services are consumed exclusively at the facility, and the business must not be in default with any other state program. The exemption needs to be renewed annually.

Urban Enterprise Zone (UEZ) Manufacturers Energy Sales Tax Exemption: Offers sales and use tax exemption for electricity and natural gas utilities consumed at UEZ-certified manufacturing locations for UEZ-certified manufacturers employing at least 250 full-time workers, of whom at least 50% are involved in the manufacturing process. The exemption is only applicable to electricity and natural gas, and not to other energy supplies, such as oil.

Brownfields Loan Program: Provides financing to potential brownfield site purchasers and current brownfield site owners (including local government redevelopers) that intend to develop commercial (including but not limited to manufacturing), retail, mixed-use developments, expansions, or reuses.  The program offers low-interest financing of $100,000 to $5 million for all aspects of brownfields revitalization projects, including assessment, investigation, and demolition. Projects that provide beneficial end uses that promote environmental resiliency, public health, and community well-being will receive higher scores on the assessment of their applications and may also qualify for interest rate reductions if approved for financing.

Sales and Use Tax Exemption Program: Provides a sales tax exemption certificate for purchases of machinery, equipment, furniture and furnishings, fixtures, and building materials (other than tools and supplies) for placement at the project location until the new facility is functional. The certificate is available to life sciences or manufacturing companies with 1,000 or more employees.