Urban Enterprise Zone (UEZ) Funding
What is the UEZ Program?
New Jersey's Urban Enterprise (UEZ) Authority (enacted in 1983) is in the Department of Community Affairs. The UEZ Program exists to foster an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging businesses to develop and create private sector jobs through public and private investment.
Program Overview
The UEZ Program offers participating businesses incentives that encourage business growth and stimulate local economies. Over 6,700 certified UEZ businesses participate and benefit from the advantages of the program.
Benefits to Businesses
Businesses in the UEZ Program can charge half the standard sales tax rate (3.3125%) and benefit from tax exemptions on capital equipment and facility investments. The New Jersey Business Action Center supports business growth, retention, and global competitiveness, serving as a "one-stop" resource for businesses. The BRRAG program offers grants for retaining or relocating at least 250 non-retail jobs, with special bonuses for UEZs, while the NJ Department of Labor provides hiring and training assistance through its One Stop Centers..
