New Jersey has commissioned its’ new Manufacturing Voucher Program (“MVP”).
The program provides grants to New Jersey based manufacturers for the purchase of equipment needed to utilize and integrate advanced technologies into the manufacturing process. Grants range from 30-50% of the cost of the equipment that is available, up to a maximum of $250K per company.
To qualify for “MVP,” companies must:
- be located in New Jersey,
- engage in “Advanced Manufacturing,”
- be in good standing with the New Jersey Division of Taxation and the Department of Labor, and
- purchase at least $25K worth of equipment
“MVP” hopes to build on the strong momentum of New Jersey’s manufacturing sector.