Creates "Manufacturing Reboot Program" in EDA to provide financial assistance to certain manufacturing businesses; makes $10 million appropriation to EDA.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates the "Manufacturing Reboot Program" within the New Jersey Economic Development Authority (EDA) to provide financial assistance to eligible manufacturing businesses. The program aims to help these businesses recover from the economic effects of the COVID-19 pandemic and adapt to new market demands, particularly in the healthcare sector. It will provide grants ranging from $25,000 to $150,000 to qualified businesses for equipment purchases, employee training, and other operational needs. The bill also appropriates $10 million for the program, with a portion specifically designated for vaccine manufacturing businesses.
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