New Jersey Manufacturing Voucher Program (NJ MVP) will provide reimbursement equipment grants sized at 30% – 50% of the cost of the eligible equipment (including installation) up to a maximum award amount of $250,000. The program will target the State’s manufacturers within targeted industries that will purchase equipment that integrate advanced or innovative technologies, processes, and materials to improve the manufacturing of products. The program will also offer bonuses focused on certified woman, minority, veteran owned businesses (WMVB), opportunity zones, purchasing manufacturing equipment in New Jersey as well as bonuses for companies that has a collective bargaining agreement in place. NJ MVP is also committed to supporting small businesses by awarding manufacturers with under 100 Full Time Equivalents employees (FTE) higher award percentages. Applications will be accepted on a rolling basis and remain open until all funds are committed.
As a commitment and in support of the Authority’s Diversity, Equity, and Inclusion efforts, the NJ MVP – New Jersey Manufacturers Voucher Program supports projects that are in distressed areas and under-represented ownership groups. In particular, the NJ MVP will award bonuses to those applicants for each of the following areas:
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.