WHAT: MVP Phase II will make available $20 million in grant funding through a rolling application process to provide New Jersey manufacturers with access to essential equipment, which will enhance efficiency, productivity, and overall profitability in New Jersey. The MVP offers vouchers valued at 30 to 50 percent of the cost of eligible equipment, including installation, up to a maximum award amount of $250,000.
In line with Governor Phil Murphy’s vision to create the most diverse and inclusive innovation ecosystem in the nation, the New Jersey MVP offers stackable bonuses for certified woman-, minority-, or veteran-owned businesses. The stackable bonuses are also available for businesses in Opportunity Zones, businesses purchasing equipment within New Jersey, manufacturers that have a collective bargaining agreement, and companies with 50 or less full-time equivalent employees.
WHEN: Applications for the MVP Phase II opened on Monday, February 12 at 10:00 a.m. Interested applicants can click here to learn more and apply.