NJEDA to Open Applications for Manufacturing Voucher Program Phase II
Informational webinar will be held in advance of launch
TRENTON, N.J. (February 6, 2024) – The New Jersey Economic Development Authority (NJEDA) will open applications for Phase II of the Manufacturing Voucher Program (MVP) on Monday, February 12 at 10:00 a.m. An informational webinar will be held Thursday, February 8, at 2:00 p.m.
WHAT: MVP Phase II will make available $20 million in grant funding through a rolling application process to provide New Jersey manufacturers with access to essential equipment, which will enhance efficiency, productivity, and overall profitability in New Jersey. The MVP offers vouchers valued at 30 to 50 percent of the cost of eligible equipment, including installation, up to a maximum award amount of $250,000.
In line with Governor Phil Murphy’s vision to create the most diverse and inclusive innovation ecosystem in the nation, the New Jersey MVP offers stackable bonuses for certified woman-, minority-, or veteran-owned businesses. The stackable bonuses are also available for businesses in Opportunity Zones, businesses purchasing equipment within New Jersey, manufacturers that have a collective bargaining agreement, and companies with 50 or less full-time equivalent employees.
WHEN: Applications for the MVP Phase II will open on Monday, February 12 at 10:00 a.m. Interested applicants can click here to learn more and apply.
The NJEDA will host an informational webinar on Thursday, February 8, at 2:00 p.m. Click here to register for the webinar.
About the NJEDA
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
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