NJEDA Releases PPE Manufacturing Tax Credit Program Preliminary Rules for Public Feedback
TRENTON, N.J. (June 4, 2021) – The New Jersey Economic Development Authority (NJEDA) today released a draft of the rules under which the new Personal Protective Equipment (PPE) Manufacturing Tax Credit program will be administered. Created under the New Jersey Economic Recovery Act of 2020 (ERA), the PPE Manufacturing Tax Credit program is a three-year program that provides tax credits to incentivize the development of PPE manufacturing within the state.
Members of the public are encouraged to review the preliminary rules and submit written feedback through an online form available on the Economic Recovery Act website. The NJEDA will also be hosting a Listening Session for Public Input on the PPE Manufacturing Tax Credit program at 5:30 p.m. on Wednesday, June 9th, 2021.
“Getting New Jersey residents back to work is going to be central to ensuring a strong, equitable recovery from the COVID-19 pandemic,” said NJEDA Chief Executive Officer Tim Sullivan. “The PPE Manufacturing Tax Credit program offers incentives for the creation of good jobs in a high-growth sector while ensuring New Jersey is well-prepared to meet any future PPE needs.”
Draft PPE Manufacturing Tax Credit program rules are available now for review at https://www.njeda.com/economicrecoveryact/program-specific-feedback/.
The Listening Session for Public Input on the PPE Manufacturing Tax Credit program will take place at 5:30 p.m. on Wednesday, June 9th, 2021. The session is expected to last roughly two hours.
Members of the public can access the session at https://us02web.zoom.us/j/85874967722?pwd=bEkrUlJJRW5pa0RKWStuRmxvYWhjdz09; Passcode: PPE.
Members of the media interested in attending the session or submitting questions are asked to email firstname.lastname@example.org.
In addition to the PPE Manufacturing Tax Credit program, the Economic Recovery Act creates a suite of programs that includes tax credits to incentivize job creation, new construction, and revitalization of brownfields and historic properties; financial resources for small businesses; support for new supermarkets and healthy food retailers in food desert communities; new funding opportunities for early-stage companies in New Jersey; and support for the growing film and digital media industry. The NJEDA will continue to engage the public as new programs and rules are developed.
For more information and to provide written input on the design and implementation of Economic Recovery Act programs, visit https://www.njeda.com/economicrecoveryact/.
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
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