§ 34:1B-407 — Tax credit eligibility, Next New Jersey Manufacturing Program.

New Jersey § 34:1B-407

• Jurisdiction: New Jersey
• Title 34: LABOR AND WORKMEN'S COMPENSATION

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5. a. To be eligible for tax credits under the program, a business’s chief executive officer, or equivalent officer, shall demonstrate to the authority at the time of application that: (1) the business shall make, acquire, or lease a capital investment at the qualified business facility not less than the applicable amount set forth in subsection b. of this section; (2) the business shall create new full-time jobs in the State in an amount not less than the applicable number set forth in subsection c. of this section; (3) the median salary of the full-time jobs at the qualified business facility by the business shall be not less than 120 percent of the median salary for manufacturing employees in the county in which the project is located; (4) the business shall be primarily engaged in the activities of a manufacturer or a clean energy manufacturer at the qualified business facility; (5) the business shall enter into a collaborative relationship, evidenced by the provision of opportunities for workforce hiring, training, apprenticeship, or other measures determined appropriate by the authority, with New Jersey public or private colleges or universities, public or private high schools, or workforce development organizations, or any combination thereof; (6) the qualified business facility shall be in compliance with minimum environmental and sustainability standards; (7) the project shall comply with the authority's affirmative action requirements, adopted pursuant to section 4 of P.L.1979, c.303 (C.34:1B-5.4); and (8) each worker employed to perform construction work or building services work at the qualified business facility shall be paid not less than the prevailing wage rate for the worker's craft or trade, as determined by the Commissioner of Labor and Workforce Development pursuant to P.L.1963, c.150 (C.34:11-56.25 et seq.). b. To be eligible under the program, the minimum capital investment at the qualified business facility shall be $10,000,000. c. To be eligible under the program, the minimum number of new full-time jobs in the State shall be 20 new full-time jobs. d. The chief executive officer of the business, or an equivalent officer, shall certify that all factual representations made by the business to the authority pursuant to subsection a. of this section are true under the penalty of perjury. e. A business shall not be awarded a tax credit under the program if the business has received a tax credit under the “Business Retention and Relocation Assistance Act,” P.L.1996, c.25 (C.34:1B-112 et seq.), “Business Employment Incentive Program Act,” P.L.1996, c.26 (C.34:1B-124 et al.), section 6 of P.L.2010, c.57 (C.34:1B-209.4), “Grow New Jersey Assistance Act,” P.L.2011, c.149 (C.34:1B-242 et al.), “Emerge Program Act,” sections 68 through 81 of P.L.2020, c.156 (C.34:1B-336 et al.), section 4 of P.L.2023, c.125 (C.34:1B-139.4), or the “Next New Jersey Program Act,” P.L.2024, c.49 (C.34:1B-394 et seq.), relating to the same capital investment and employees that qualify the business for a tax credit under the program. f. An eligible business may submit an application to the authority in accordance with the provisions of section 6 of P.L.2025, c.123 (C.34:1B-408) on or after the effective date of P.L.2025, c.123 (C.34:1B-403 et al.) but prior to March 1, 2029. g. Beginning on the date that the authority begins accepting applications in accordance with section 6 of P.L.2025, c.123 (C.34:1B-408) and continuing for two years thereafter, $100,000,000 of the tax credits made available to the program pursuant to subparagraph (l) of paragraph (1) of subsection b. of section 98 of P.L.2020, c.156 (C.34:1B-362) shall be reserved exclusively for eligible businesses that are clean energy product manufacturers. If during that period, the authority awards less than $100,000,000 in tax credits to eligible businesses that are clean energy product manufacturers, the uncommitted portion shall be available to be deployed by the authority to any eligible business beginning in the third year next following the date that the authority begins accepting applications in accordance with section 6 of P.L.2025, c.123 (C.34:1B-408). L.2025, c.123, s.5.