This bill amends Section 9 of P.L.1992, c.43 to establish a permanent funding source of up to $1.5 million for the New Jersey Manufacturing Extension Program, Inc. (NJMEP) from the Workforce Development Partnership Fund. The NJMEP is a non-profit organization focused on enhancing the profitability and competitiveness of New Jersey manufacturers by improving productivity, reducing costs, and enhancing employee performance. The bill includes several insertions, such as provisions to support the NJMEP, the New Jersey Innovation and Research Fellowship Program, and the Talent Network Program, while also detailing the allocation of funds for various workforce development initiatives.

In addition to the new funding for NJMEP, the bill modifies the existing allocation structure of the Workforce Development Partnership Fund. Specifically, it reduces the percentage of total revenues dedicated to the Office of Customized Training from 37% to 35% minus the newly allocated $1.5 million for NJMEP. This adjustment aims to ensure that the NJMEP receives consistent financial support while still addressing the needs of other workforce development programs. The bill is set to take effect immediately upon passage.

Statutes affected:
Introduced: 34:15D-9