Tax breaks for companies that move jobs to New Jersey

Provides temporary corporation business tax and gross income tax credits for insourcing business to New Jersey.

Introduced· 2026-01-13

Who's it for

Who's it for: Big Business

What it means for you

5/10Mixed

Mixed: some good, some bad ·

Plain‑English summary, cross‑checked against the official bill text.

This bill would give companies a large tax discount if they move their business and full-time jobs from other states or countries into New Jersey.

Our take

What we think, in plain words.

On one hand, this bill hands out tax cuts to corporations, which means less money collected for state programs. On the other hand, it has strict rules to protect workers. A company only gets the money if it actually adds full-time jobs in New Jersey. If the company fires those workers within five years, the state will take the tax break back.

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The facts

What the bill actually says, no spin.

Gives companies a 35 percent tax credit for moving jobs from another country to New Jersey.
Gives a 25 percent tax credit for moving jobs from another state to New Jersey.
Requires the company to increase its total number of full-time workers in the state to get the deal.
Forces companies to pay the money back if they cut jobs in the state within five years.
Limits the tax break so it cannot wipe out more than half of a company's total tax bill.