The program, funded by the Federal Aviation Administration, aimed to improve air travel by replacing ground-based radar with a mobile GPS guidance system.
Its research park based in Galloway was sold to the Richard Stockton College of New Jersey earlier this year.
Increasing capacity for airplanes is not as urgent as it was when the initiative was announced. There were also issues with landings and misidentifying planes, according to the report.
NextGen has enjoyed bipartisan support among lawmakers, who are reportedly frustrated with its lack of movement, according to the report.
FAA Administrator Michael Huerta told the Associated Press NextGen remains on track, despite the setbacks.