§ 34:1B-404 — Findings, declarations.

2. The Legislature finds and declares that: a. Manufacturers are vital contributors to the State's economic health and overall prosperity. They serve as engines of growth, driving job creation, stimulating innovation, and fostering a robust and productive workforce. By producing goods and contributing to the supply chain, manufacturing facilities bolster the State's competitiveness in the global market. b. Projects involving manufacturing and manufacturers are inherently beneficial to the State because they provide vital contributions to the communities in which they are located, enhancing the quality of life for residents and producing immeasurable economic benefits to the State. c. The Next New Jersey Manufacturing Program is a comprehensive tax credit program designed to drive substantial investment, foster the creation of new jobs, and position New Jersey as a leader in the manufacturing economy. The program will encourage a wide range of manufacturing activities benefitting various industries, including advanced manufacturing; non-retail food and beverage; life sciences; defense; and the production of components for clean energy technologies, such as offshore wind, solar, geothermal, green hydrogen, nuclear energy, fuel cells, battery storage, and other sustainable clean energy solutions. d. By offering competitive incentives, the Next New Jersey Manufacturing Program encourages companies to allocate their capital investments to New Jersey while demonstrating a long-term commitment to the State’s economic growth. The program is designed for manufacturing facilities that establish or expand their physical presence in New Jersey. L.2025, c.123, s.2.