The state has invested in the long-neglected manufacturing sector. | So Good News
In unveiling the New Jersey Manufacturing Voucher program, which will provide $20 million in grants to help manufacturers purchase the equipment they need to improve their operations, Gov. Phil Murphy emphasized the importance of the industry to New Jersey. “I’ve made it clear that one of the key business areas that we’re going to focus on is manufacturing,” Murphy said during a recent event at Raw Generation in Eatontown.
During that speech, Murphy said his administration’s vision as he comes to power in 2018 is to develop and build the nation’s manufacturing sector at the center of his mission. To that end, the state budget allocated $35 million for summer productions and initiatives. “And it’s not surprising. From Paterson’s textile mills to Campbell Soup and RCA in Camden to former auto plants in Central Jersey and countless other places. Manufacturing is part of New Jersey’s economic DNA,” Murphy explained.
In making the announcement, the Raw Generation was joined by the Rosen family, healthy, after a family member’s battle with pancreatic cancer. fresh raw juices, It started as a way to make soups and juices. The body heals itself. Since 2012, the company has been operating nationwide.
Murphy said, “This is a true, unique jersey success story that is sold in the United States. “And it’s direct to consumer, so go to that website and get your incredible healthy juice from Raw Generation. RawGeneration.com.”
NJMVP grants cover between 30% and 50% of the cost of qualified equipment and range from $7,500 to $250,000. The program is a certified female; Bonuses will be offered to minority- or veteran-owned businesses. businesses in opportunity zones; Buyers of equipment manufactured in New Jersey;
Officially launched later this year, the NJMVP appears to be a highlight in production. The epidemic shows how important the sometimes undervalued sector is; The value of manufacturing and supply chain weaknesses were revealed.
“By facilitating the purchase of the necessary equipment by the producers; This program will make these activities more efficient, It will help increase production and profitability,” Murphy said. “Supporting our manufacturers will promote economic development and ultimately benefit our state’s entire broader business community.”
New Jersey Economic Development Authority CEO Tim Sullivan said the grants should help companies keep pace with technological developments and access growth capital. By portraying manufacturers as the unsung heroes of the epidemic, the dynamism of New Jersey’s manufacturers; Energy and innovation, Sullivan noted. Because the sector is part of so many different industries, it sometimes flies under the radar, he said. “But the backbone of that industry is manufacturing,” he said.
Sullivan explained that the plan is part of an ongoing effort to promote economic development through a variety of grants and initiatives to help industries such as manufacturing. He and several officials who spoke at the NJMVP’s announcement called it a good path for young people to grow into manufacturing and careers that can support a family and support a middle-class lifestyle.
“New Jersey’s manufacturing sector is a high-wage, innovative industry that actively drives sustainable growth for the state,” said state Sen. Linda Greenstein, D-14th District. “The New Jersey Manufacturing Voucher Program will give our state-based manufacturers full access to a full range of equipment and resources not previously available to them.”
“New Jersey’s manufacturing industry has a long history of being a priority provider of high-quality jobs and superior products,” said New Jersey Department of Labor and Workforce Development Commissioner Robert Asaro-Angelo. “This short story program is exactly the kind of investment our manufacturing partners are looking for.”
“Despite the economic uncertainty caused by the pandemic, the manufacturing sector continues to rise, and local New Jersey companies are at the forefront of that resurgence,” said State Assemblyman Vin Gopal, D-11th District. “Helping manufacturers stay on the cutting edge benefits our economy, our state and its people.”
John Kennedy, CEO of the New Jersey Manufacturing Extension Program, praised the program. “I’ve never seen an investment of more than $35 million in an important and important business,” said Kennedy, who has more than 40 years of experience in the field.
He admitted that the manufacturing sector is not always the best at marketing. “So, it took something like an epidemic, and it took something like this supply chain issue for us to really get to the forefront,” Kennedy said. “Well, we did.”
NJMVP provides companies with capabilities, automation; Kennedy agreed that it would help expand routes and more. “New Jersey has been a manufacturing leader in our nation since colonial times. We’ve lost our way a little bit, but we’ve found it in the last few years, and it’s the government; Murphy, It’s a product of legislators and industry all working together,” he said. “The new NJ Manufacturing Voucher Program is a tool that will directly support our manufacturing companies, a huge step in the right direction for our state as it strives to reach the next level of Industry 4.0.”
Recent developments in state government affecting businesses;
The announcement comes as a follow-up to the federal CHIPS and SCIENCE Act, a boon for the manufacturing industry, and follows an NJEDA request for information issued last month to establish a pilot program to attract clean energy producers to New Jersey.
Responses will help shape a proposed grant or forgivable loan program that would offset costs for New Jersey companies or organizations that acquire clean energy technologies from clean energy producers looking to expand or establish here in the Garden State. The program’s goal is to build a pipeline of clean energy producers that are competitive for Garden State customers while helping early adopters minimize the cost of implementing clean technologies.
The program aims to create high-quality manufacturing jobs in New Jersey while building a diverse workforce in the clean energy sector, making the state a hub for clean energy production and innovation, NJEDA said.
“Our state budget helps grow our manufacturing sector and build the workforce these industries need,” said Murphy, who highlighted NJMEP’s efforts to help his team with community colleges focus on workforce training and development.
“Because we’re making these investments, there’s simply nothing that should hold New Jersey back from being productive again,” the governor explained. “New Jersey has become a manufacturing powerhouse first and foremost because we have a location that is second to none, a workforce that is second to none, and a transportation infrastructure that is second to none, tailored to get products to market.”
“With the New Jersey Manufacturing Voucher Program in place, this sector is perfectly poised to continue to expand and create jobs for New Jerseyans,” Greenstein said. “It’s programs like this that not only invest in our New Jersey-based manufacturers, but also in our workforce and economy.”
“And I’ll leave you with four words: Made in New Jersey,” Kennedy concluded.