Summary
Establishes the “Next New Jersey Program” within the New Jersey Economic Development Authority to spur in‑state artificial intelligence investment via up to $500M in transferable tax credits, with authority to reallocate unused Aspire/Emerge credits to AI projects. It defines eligible AI and large‑scale AI data center businesses, requires project agreements with capital investment and jobs commitments, and integrates with the 2020 New Jersey Economic Recovery Act.
Healthcare Implications
Creates a significant financing pathway for AI R&D and infrastructure that New Jersey health systems, digital health startups, and life‑science AI firms can leverage for clinical decision support, imaging, and population health applications. Hospitals/academic medical centers may partner on AI data centers and workforce initiatives funded through the program, potentially accelerating health AI commercialization and attracting talent.