New Jersey Manufacturing Voucher Program (NJMVP)

Geographic Scope: New Jersey

Program Overview: State-funded grant program providing equipment vouchers to New Jersey manufacturers to help offset the cost of purchasing and installing new or used advanced manufacturing equipment. Developed through collaboration between NJMEP and NJEDA with support from Governor Murphy's state budget allocations.

Funding History

• 2022 Allocation: $20 million set aside in state budget
• 2023 Status: Over $8 million awarded in vouchers announced May 4, 2023
• 2024 Allocation: Additional $20 million in FY2024 state budget
• Total Available Funding: Nearly $40 million (as of 2023)

Award Details

• Base Award: 30% of equipment cost
• Maximum Award: $250,000 per recipient
• Bonus Awards: Stackable 5% bonuses available for qualifying factors (up to 50% total coverage)

Eligible Equipment

• Production equipment for shop floor
• Digital technologies aiding production process
• Technologically advanced equipment and production/operating systems
• Robotics
• Additive manufacturing equipment
• Hardware or software for digital twinning
• Advanced sensor or control systems
• Industrial Internet of Things (IIoT)
• Security-related systems

Bonus Opportunities (Stackable 5% each)

1. Equipment installed in Opportunity Zone Eligible Census Tract (5% bonus)
2. Certified Woman, Minority, or Veteran Owned Business (5% bonus)
3. At least one Collective Bargaining Agreement in place (5% bonus)
4. Equipment purchased from New Jersey manufacturer (10% bonus)

Eligibility Requirements

Eligible Businesses:

• For-profit manufacturers
• Not-for-profit companies
• Any type of manufacturer purchasing equipment that improves production process

Ineligible:

• Home-based businesses
• Businesses planning to relocate equipment out of state

Location Requirements:

• Business must be based in New Jersey or have equipment installed in New Jersey location
• Equipment must be manufactured and/or assembled in the state to qualify for New Jersey supplier bonus

Terms and Conditions

Recapture of Funds: If a company relocates out of New Jersey within the first 3 years of grant execution:

• 100% recapture if move occurs within 1 year
• 60% recapture if move occurs within 2 years
• 30% recapture if move occurs within 3 years

Application Process

Submission: Rolling basis - applications accepted continuously until all funds are used

Resources:

• Track application status and find FAQs at NJEDA.com/NJMVP
• NJMEP provides expert consultation on equipment selection, plant layout analysis, ROI studies, and supplier connections

Program Goals

• Help manufacturers invest in advanced technologies
• Strengthen domestic manufacturing competitiveness
• Support equipment acquisition (major cost barrier for manufacturers)
• Fuel innovation and growth in New Jersey's manufacturing sector

Contact Information

• Program Administrator: New Jersey Economic Development Authority (NJEDA) in collaboration with NJMEP
• NJMEP Address: 2 Ridgedale Avenue, Suite #305, Cedar Knolls, NJ 07927
• NJMEP Phone: (973) 998-9801
• NJMEP Email: info@njmep.org
• Program Website: NJEDA.com/NJMVP

Application Process

Submission Method: Online application portal at NJEDA.com/NJMVP

Timeline: Rolling basis - applications accepted continuously until all funds are exhausted

Steps:

1. Visit NJEDA.com/NJMVP
2. Complete online application form
3. Provide equipment details and cost information
4. Submit business and location documentation
5. Track application status through portal

Required Information

• Business registration and location details
• Description of equipment to be purchased/installed
• Equipment cost and installation cost breakdown
• Documentation of business type (for-profit/nonprofit, WMVOB status if applicable)
• Proof of physical location in New Jersey
• Collective bargaining agreement status (if applicable)
• Location documentation for Opportunity Zone eligibility (if applicable)
• Equipment supplier information
• Equipment origin information (for NJ supplier bonus consideration)

Support Available

• NJMEP provides consultation on equipment selection
• Plant layout analysis services
• ROI studies and analysis
• Equipment supplier connection assistance
• New Jersey equipment supplier database/list

FAQs and Resources

• Comprehensive FAQ section available at NJEDA.com/NJMVP
• Equipment supplier list available upon request (contact info@njmep.org)