October 17, 2022 | nj.gov
Governor Phil Murphy today (10/17) announced the creation of a pilot program that will provide New Jersey manufacturers grants for the purchase of equipment they need to improve their operations. The New Jersey Manufacturing Voucher Program (MVP) will be developed and administered by the New Jersey Economic Development Authority (NJEDA) and funded with $20 million from the FY2023 budget.
“Manufacturers play a critical role in the supply chain, creating the products people rely on here in New Jersey and around the world,” said Governor Murphy. “By facilitating the purchase of equipment manufacturers need, this program will help these businesses become more efficient, productive, and profitable. Supporting our manufacturers will promote economic development and ultimately benefit our state’s broader business community as a whole.”
NJ SEED: The program has the potential of encouraging business that might be looking for greener pastures to realize that NJ is a good place to live and do business.