The basics:

• Gov. Phil Murphy signs bipartisan $500M manufacturing legislation
• Establishes Next New Jersey Manufacturing Program
• NJEDA will administer the initiative
• Eligible businesses include advanced manufacturing, non-retail food and beverage, defense, clean energy and life sciences

Flanked by a number of lawmakers, officials and business leaders, Gov. Phil Murphy signed bipartisan legislation into law Aug. 13 that establishes the $500 million Next New Jersey Manufacturing Program.

The New Jersey Economic Development Authority will administer the program. It aims to incentivize manufacturing here in the Garden State. Eligible businesses include advanced manufacturing, non-retail food and beverage, defense, clean energy and life sciences.

Assembly Bill 5687/Senate Bill 4407 passed alongside the state’s fiscal year 2026 budget earlier this summer. Murphy signed the legislation Wednesday at MAC Products Inc., a manufacturer headquartered in Kearny. NJBIZ was on-hand for the event.

Investing in the future

“Since taking office, my administration has advanced policies that create good-paying jobs, attract cutting-edge manufacturers, and expand opportunity in communities across the state,” said Murphy. “The Next New Jersey Manufacturing Program builds on that progress, providing the support needed to accelerate growth, enhance our competitive position, and deliver lasting economic benefits for New Jersey manufacturers.”

“Manufacturing has long been the backbone of New Jersey’s economy, and this historic investment reaffirms our commitment to revitalize this vital sector,” said Sen. Michael Testa, R-1st District, a prime bill sponsor as well as co-chair of the Manufacturing Caucus.

“With the generous tax incentives included, the ‘Next New Jersey’ program will create high-quality jobs and solidify our state’s status as a leader in clean energy manufacturing,” said Sen. Linda Greenstein, D-14th District, also a prime bill sponsor and co-chair of the Manufacturing Caucus.

New Jersey Manufacturing Extension Program CEO Peter Connolly added, “This bill represents a vital investment in New Jersey’s future, supporting the full spectrum of manufacturing, including the clean energy sectors, while empowering the workforce that drives them.”

Business groups’ backing

“By combining targeted tax incentives with the strengths of our workforce, we’re creating a stronger environment for businesses to build and grow in the Garden State,” said Tom Bracken, president and CEO, New Jersey Chamber of Commerce.

“This law represents a significant and targeted investment for New Jersey’s manufacturing sector and our economy, with no new additional funding required,” said New Jersey Business & Industry Association President and CEO Michele Siekerka.

NJEDA Chief Executive Officer Tim Sullivan said, “The Next New Jersey Manufacturing Program will encourage manufacturers to establish and grow successful operations in New Jersey, producing impactful economic benefits for the state and its residents for generations to come.”

“We are honored to host Gov. Murphy at MAC Products Inc. for the signing of A5687,” said Eddie Russnow, president, MAC Products Inc. “This legislation aligns with our decades-long commitment to strengthening New Jersey’s manufacturing backbone.”

Stay tuned to NJBIZ for further coverage from this bill signing, additional details on the new law and potential impacts for the state’s manufacturing sector.