Michael Testa, a Senator from New Jersey, announced that a new $500 million tax credit law is expected to boost innovation and create quality manufacturing jobs across the state. The statement was made on the social media platform X.
“I’m grateful that my legislation, the largest manufacturing investment in NJ history, is now law,” said Michael L Testa. “This $500M tax credit initiative is a game-changer. It will drive innovation and create high-quality careers for New Jerseyans. Thanks to all who made this great day possible.”
In August 2025, Governor Phil Murphy signed into law the “Next New Jersey Manufacturing Program,” a $500 million tax credit initiative designed to revitalize the state’s industrial base. According to the New Jersey Economic Development Authority, this legislation provides long-term incentives for manufacturers in sectors such as clean energy, life sciences, defense, and advanced food production. It is anticipated to generate thousands of jobs statewide.
The U.S. Bureau of Labor Statistics reported via FRED that as of June 2025, New Jersey had 255,900 manufacturing jobs, maintaining a steady employment base compared to previous years. Although the sector accounts for less than 6% of total state employment, it remains a significant contributor to New Jersey’s GDP through industries like pharmaceuticals, chemicals, and fabricated metal products.
A review by the National Conference of State Legislatures indicates that other states such as Pennsylvania and Oklahoma offer tax credits ranging from $500 to $4,000 per job or 4–5% of payroll to attract manufacturers. The NCSL notes that New Jersey’s $500 million program is one of the largest in the country, enhancing the state’s competitive position in industrial investment.
According to SenateNJ and Wikipedia, Michael Testa has been serving as a Republican state senator representing New Jersey’s 1st District since 2019. He is a member of the Budget and Labor Committees and advocates for business-friendly tax reform. Testa co-sponsored the 2025 manufacturing tax credit bill and has prioritized economic growth, job creation, and revitalization efforts in South Jersey.
