"New Jersey Works Act"; permits businesses to apply for tax credits for establishing approved pre-employment and work readiness training programs in partnership with schools, nonprofit organizations, or educational institutions.*

The New Jersey Works Act allows businesses to receive tax credits for funding pre-employment training programs developed in partnership with schools, nonprofits, or educational institutions. These programs must provide at least 12 weeks of paid training at minimum wage, covering skills like math, communication, job readiness, and critical thinking, and must target low- and moderate-income individuals. Businesses can claim tax credits equal to 100% of their financial assistance, with a maximum of $12 million in tax credits available statewide each fiscal year. Approved programs must be reviewed and approved by the Department of Labor and Workforce Development and must offer participants employment with the funding business upon completion. The bill requires participating institutions to report on program outcomes, including completion rates and employment data for participants.