HEVI Equipment Qualifies for NJ Manufacturing Incentives
December 16 , 2022
Announced on December 13, 2022, the New Jersey Economic Development Authority (NJEDA) established the New Jersey Manufacturing Voucher Program (MVP). As a result, many New Jersey-based businesses are looking for environmentally conscious solutions to help their operations qualify for the incentives brought by these programs. With heavy equipment being a major component in manufacturing, and with diesel alone not qualifying for these sustainability-based programs, companies find themselves needing the alternate fuel solutions, such as electric. HEVI’s all-electric heavy equipment line will be that qualifying solution.
HEVI’s product line of zero-emissions all-electric heavy equipment, such as electric wheeled loaders and electric excavators, are the industry’s first solution for electrification in the heavy equipment space. When an organization purchases HEVI’s electric heavy equipment, not only will they already have major savings on fuel costs and maintenance, but the environmentally beneficial nature of the equipment will also allow the companies using HEVI’s products to be eligible for sustainability grounded incentives programs like the New Jersey Manufacturing Voucher Program (MVP). Incentive programs like the New Jersey Manufacturing Voucher Program (MVP) are not easily adopted by diesel heavy equipment without additional measures to make an attempt at qualification, but with the all-electric nature of HEVI’s heavy equipment product line, grant qualifications are met with ease.
HEVI equipment helps to bring businesses into the green revolution by providing quiet, emission-free operation in an industry known to be one of the greatest air polluters in the country. On top of helping to qualify businesses for grants and incentives like the New Jersey MVP, when compared with diesel models, HEVI equipment provides:
- Massive savings on fuel
- Reduced maintenance
- Reduced carbon footprint
Take a look below or at www.gethevi.com/equipment/ to explore HEVI’s NJ MVP-qualifying products:
The industry-first all-electric wheeled front loaders create new advantages for operators with its simple maintenance, zero operating emissions, fast charge time and quiet operation. With a 9 hour run time the GEL series of electric front loaders, are always ready to get to work.
HEVI is bringing sustainable-energy options to the construction space with all-electric excavators. Handling up to 8.0 tons of material without endangering the local community with harmful emissions or loud noise pollution.
New Jersey Manufacturing Incentives
New Jersey legislators and Governor Phil Murphy have reaffirmed their commitment to a completely green economy by 2050 with a new set of manufacturing incentives. These incentives, administered by the NJ Economic Development Authority (NJEDA) under the New Jersey Manufacturing Voucher Program, entered the pre-qualification process on December 15, 2022. The MVP is a $20,000,000 pilot grant program that will help cover 30-50% of the costs of eligible equipment (and its installation).
To be eligible, companies must be in the Targeted Industry list or meet the Advanced Manufacturing definition, the equipment must be installed in New Jersey and used in the manufacturing process. If eligible, organizations may qualify for the following incentives:
Stackable 5% Bonuses Available for:
- Installing equipment in a specific, eligible location
- Business is a Minority-, Woman-, or Veteran-owned business
- Organization has Collective Bargaining Agreements
Stackable 10% Bonuses Available for:
- Purchasing equipment manufactured or assembled in New Jersey
To see all of the eligibility criteria in full detail, visit www.njeda.com/njmvp/.
HEVI is a manufacturer of lithium-powered heavy industrial equipment including electric front loaders, and electric excavators. The company serves the Mid-Atlantic region of the United States with facilities in New Jersey and Maryland. The company’s mission is to introduce clean and sustainable alternatives to the industrial equipment market dominated by heavy-emission diesel systems. Find more information at www.gethevi.com.