Bringing Recognition & Relief to Manufacturers

Report to Members

Famed industrialist Henry Ford once said: “Quality means doing it right when no one is looking.”

It’s an adage that has been at the heart of many of New Jersey’s manufacturers for decades. But on Oct. 6, we proudly partner in shining a light on their accomplishments at the 11th annual “Made in New Jersey Manufacturing Day,” hosted by the New Jersey Manufacturing Extension Program at iPlay America in Freehold.

This annual event highlights the benefits that manufacturing provides to New Jersey. It also increases awareness about career opportunities in the industry and the advanced technologies that are driving it.

NJBIA knows New Jersey manufacturing has come a long way. We were actually founded in manufacturing more than 110 years ago.

From the days of textiles and smokestack industries, today New Jersey is a manufacturing hub for the aerospace and defense industry, as well as the home to some of the world’s most impactful pharmaceutical companies.

Today’s manufacturing employers oversee a highly skilled workforce on computer automated machines that require strict attention to detail and the ability to solve complex problems.

We’re proud to say that New Jersey can now boast manufacturing as a $54.4 billion industry, with jobs averaging nearly $100,000 a year.

While our manufacturers constantly strive to perfect their products, so too are we trying to ensure they have the best business climate to work in.

Earlier this year, I was honored to be named to the National Association of Manufacturers’ board of directors and I also proudly serve as vice chair of the Conference of State Manufacturing Associations. In fact, New Jersey will be the host of next year’s national conference!

Closer to home, NJBIA keeps state policymakers focused on manufacturers’ challenges by working closely with NJMEP and the Bipartisan Legislative Manufacturing Caucus.

We advocated for manufacturers during the FY24 budget process by asking lawmakers to increase state funding for the successful Career Pathways and Basic Skills Training programs and provide more financial support for cell and gene therapy biomanufacturing.

This past summer, NJBIA got a huge win for our manufacturers, who are disproportionately registered as corporations. We worked with the Murphy administration for more than a year on a law that changed the way global intangible low-taxed income (GILTI), and net operating losses (NOLs) are treated under the state tax code.

The new law also makes other changes sought by manufacturers to support innovation and we thank Governor Murphy for signing it. On top of that, we saw to it that our largest corporations – including many manufacturers – benefited from the sunset of the 2.5% Corporation Business Tax surtax at the end of this year.

As always, we look forward to the quality, New Jersey-made innovations ahead – and to continuing to work to provide manufacturers with the best opportunities to succeed.

To access more business news, visit NJB News Now.

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