Creates "Manufacturing Reboot Program" in EDA to provide financial assistance to certain manufacturing businesses; makes $10 million appropriation to EDA.
S 2656 creates New Jersey's "Manufacturing Reboot Program" through the Economic Development Authority (EDA), providing $10 million in state funding to support eligible manufacturing businesses recovering from pandemic impacts. The program targets qualified manufacturers (meeting specific wage, health benefits, and location criteria) that retool for healthcare products like PPE, medical devices, or vaccines, with priority given to businesses at risk of closing or expanding vaccine production. Grants range from $25,000 to $150,000 per business for equipment, payroll, or training, requiring quarterly reports on jobs and spending. The $10 million is split equally: $5 million for vaccine manufacturing and $5 million for other healthcare products.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
Governor
Introduced Feb 12, 2024
Last action Feb 12, 2024
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Full legislative history
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1
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0
Feb 12, 2024
Introduced
Introduced in the Senate, Referred to Senate Economic Growth Committee
upper
2 primary · 0 co-sponsors
Sponsors
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