The leaders of the New Jersey Manufacturing Extension Program discovered an interesting angle when they dug deep into some of the rules and regulations regarding Emerge, the tax incentive program that is replacing the Grow New Jersey program: It doesn’t apply to many manufacturers in the state.
“The program requires manufacturers to have a large number of employees and operate in some very specific areas,” Marketing Product Manager Michael Womack said. “For the most part, it’s incentivizing other manufacturers to come into New Jersey.
“As we know, it’s tough to do business in New Jersey when you’re here. So, we really want to focus in and see how manufacturers in New Jersey currently can take advantage of Emerge or discover where to go to find other incentive programs.”
Womack said there are plenty of other parts of the 2020 New Jersey Economic Recovery Act that do apply to manufacturers. It’s just a matter of understanding where they are and how to access them.
At 11 a.m. Wednesday, MEP and Avison Young are hosting a panel, “Emerge: The New Jersey Economic Recovery Act,” that will break down the situation, Womack said.
You can register here.
“The roundtable will be explaining this complex act,” he said. “We’ll be diving into how manufacturers and New Jersey businesses can take advantage of incentive programs.”
The panel will be moderated by Ed English of Avison Young — who serves as a real estate adviser to industrial companies.
The panel is made up of accountants and lawyers who special in incentives and the heads of two New Jersey manufacturing companies:
- David Capodanno, SobelCo
- Travis Epp, EisnerAmper
- Julie Tattoni, Windels Marx
- Bob Bertrand, Rose Brand
- Danai Brooks, Komline-Sanderson
The panel will get into the opportunities and challenges that are present.
Womack feels the event also will illustrate the need for advocacy for the sector, something MEP does throughout the year.
“Speaking up for the industry is so important,” he said.
MEP’s third State of the State event, which will break down these issues and more, is July 30. (Register here.)