TRENTON, N.J. – Legislation that may attract metal manufacturing companies to New Jersey was approved by the Assembly today. Assemblywoman Nancy Munoz and Assemblyman Anthony Bucco sponsor the bill (S515/A4060) eliminating the tax on sand, binders, washes and other material used in the manufacturing process.
The bill passed the Senate unanimously in June. It now moves to Gov. Phil Murphy’s desk for consideration.
“Manufacturing is essential for a thriving economy and a robust job market,” said Munoz (R-Union). “This bill makes our state more affordable and more attractive to industry. The majority of states don’t charge this tax. Eliminating the tax makes us more competitive.”
Foundries manufacture tools, gears, engine parts and thousands of other products by pouring molten metal into sand castings. The process is used in the production of more than 60 percent of metal castings, and parts can be made of steel or nearly any alloy.
“New Jersey was once a flourishing center of manufacturing,” said Bucco (R-Morris). “We are seeing a significant resurgence of manufacturing jobs in the country. This bill will help secure our share of these high-paying career opportunities.”