Establishes Next New Jersey Manufacturing Program to incentivize in-State manufacturing investments and job creation.

S 4407 establishes the Next New Jersey Manufacturing Program, which provides tax credits to manufacturers and clean energy product manufacturers that make significant investments in New Jersey. To qualify, businesses must invest at least $10 million in capital projects, create at least 20 new full-time jobs with median salaries at least 120% of county manufacturing averages, and meet other program requirements. The tax credit amount equals the lesser of 0.1% of capital investment multiplied by new jobs, 25% of capital investment, or $150 million, with $100 million reserved exclusively for clean energy manufacturers during the first two years. Businesses must maintain project locations and job levels for the commitment period, with potential tax credit recapture if requirements aren't met.