Provides corporation business tax credit for certain investment in manufacturing equipment and manufacturing facility renovation, modernization, and expansion, or hiring and training of new employees for manufacturing purposes.

S 3377 creates a 10% tax credit for New Jersey businesses that invest in qualifying manufacturing activities within designated Smart Growth Areas. The credit covers 10% of costs for new manufacturing equipment, facility renovations/expansions, or hiring/training new full-time manufacturing employees (retained for 365+ days), with the training/salary benefit option being the greater of 10% of costs or existing deductions. Businesses cannot claim this credit for expenses already covered by other existing tax credits like the New Jobs Investment Tax Credit. The credit applies to tax years starting January 1, 2024, through December 31, 2025, with unused credits carryable forward for up to seven years.