NJ Manufacturing Voucher Program Phase 2 Announced
The New Jersey Manufacturing Voucher Program is a $20,000,000 pilot grant program to assist New Jersey manufacturers with accessing the manufacturing equipment they need to become more efficient, productive, and profitable. The pilot program will provide grants for a portion of eligible equipment costs, up to a maximum award amount of $250,000 per manufacturer.
Please note: Applicants must be seeking assistance for a project they are actively contemplating but have yet to commit to. Projects where a contract has been signed, a Purchase Order placed, a deposit made in advance or previously purchased equipment prior to an Approved NJ MVP application, will not be eligible for this program.
The program is intended for manufacturers within targeted industries that will purchase equipment that integrates advanced or innovative technologies, processes, and materials to improve the manufacturing of products. The program also offers bonuses focused on certified woman-owned, minority-owned, and veteran-owned businesses (WMVB), businesses located in opportunity zone eligible census tracts, businesses with less than 50 Full Time Equivalent employees (FTE), as well as bonuses for companies that have a collective bargaining agreement in place. Companies with under 100 Full Time Equivalent employees (FTE) can receive larger reimbursements. Business.NJ.gov | MWBE, SBE, VOB and Other Certifications
Applications will be accepted on a rolling basis and remain open until all funds are committed.
DETAILS:
Stackable 5% Bonuses Available for each of the following
Equipment is installed in a location within an Opportunity Zone Eligible Census Tract
(Tool to check tract locations here)
Certified Woman, Minority, and Veteran Owned Businesses (WMVB)
At least one Collective Bargaining Agreement in place
Manufacturers with fifty (50) or less FTE’s
Stackable 10% Bonuses Available for the following
Purchase equipment from a New Jersey Manufacturer. (Equipment must be manufactured and/or assembled in NJ)
Eligible Funding Uses:
Funding can only be used for the purchase and installation of (new and/or used) equipment used in the manufacturing process. The equipment must be located and installed at a New Jersey location. Eligible capital assets shall include any form of manufacturing equipment, technologically advanced equipment or production/operating systems, including but not limited to robotics, additive manufacturing, hardware or software for digital twinning, advanced sensor or control systems, IIoT (interconnected sensors, instruments, and other devices networked together with computers’ industrial applications) systems and related security. In addition, for profit and not-for-profit companies are eligible but home-based businesses are not eligible. The acquisition of eligible equipment as it relates to NJ MVP must executed at arm’s length.