Business Services | Apprenticeship Tax Credit

Summary

New Jersey has launched the Apprenticeship Start-Up Grant Program, which provides a $5,000 tax credit for businesses that document qualified start-up costs in their first year of participating in an apprenticeship program. An additional $5,000 tax credit is available for programs that focus on critical industries such as manufacturing, healthcare, and renewable energy.

This initiative is part of the state's broader strategy to enhance workforce development through registered apprenticeships, promoting a model where individuals can earn while they learn. By incentivizing businesses to invest in apprenticeship programs, New Jersey aims to create sustainable career pathways that benefit both workers and local economies.

Why this matters for apprenticeships

This program is a significant step in supporting registered apprenticeship initiatives, making it more attractive for companies to invest in workforce development. By targeting key industries, it ensures that apprenticeships align with market needs, ultimately helping to bridge the skills gap and prepare a qualified workforce.