The PPE Manufacturing Tax Credit makes $10 million in investment tax credits per year available to businesses that invest in the production of PPE during the 2020, 2021, and 2022 tax years. The program supports investment in PPE manufacturing facilities and equipment to increase the availability of critical public healthcare products and create manufacturing jobs.
To receive tax credits through the PPE Manufacturing Tax Credit Program, a project must:
- Manufacture PPE, such as coveralls, face shields, gloves, gowns, masks, respirators, safeguard equipment, and other equipment designed to protect the wearer from the spread of infection or illness
- Create a minimum number of new jobs.
- Meet a minimum investment threshold for new construction or the improvement or fit-out of existing facilities.
- Be located in an approved redevelopment or rehabilitation area, Smart Growth Area, or a facility engaged in a research collaboration or an apprenticeship or pre-apprenticeship program with a New Jersey educational institution or in large, long-vacant building.
The full statutory text of the program can be found in sections 106-107 of the Economic Recovery Act of 2020.
The PPE Manufacturing Tax Credit Program provides bonus tax credits for facilities located in the following counties:
- Atlantic, Burlington, Cape May, Cumberland, Gloucester, Ocean, and Salem.
Bonus per-job tax credits are also available for jobs created at a qualified facility, that meet the following criteria:
- Located in previously vacant building: $1,000 per job
- Has approved research collaboration: $1,500 per job
- Has apprenticeship program: $1,000 per job
FOR THIS OMPLETE ARTICLE: Personal Protective Equipment (“PPE”) Manufacturing Tax Credit (NEW) – NJEDA
FOR THE NEWS RELEASE: NJEDA Board Approves Rules for PPE Manufacturing Tax Credit Program – NJEDA