Programs and Incentives
Businesses participating in the UEZ Program can access a number of financial programs designed to stimulate job creation and business growth.
For details on the UEZ Program and other Commerce incentives call (609) 777-0885 or in-state toll free 86-NJFIRST9.
- Qualified retail businesses may charge 50 percent of the state’s sales tax on certain “in person” purchases.
- Revenue generated from the 50 percent of the State’s sales tax rate is maintained in a Zone Assistance Fund (ZAF) and is dedicated to use within the zone for certain economic development and/or public service improvement projects.
- Sales tax refund for purchase of certain materials and tangible personal property. Small UEZ Businesses, with less than $1 million in annual gross receipts, can purchase certain goods and materials sales tax free.
- One-time corporation tax credit of $1,500 for each new, full-time permanent employee who is a resident of a municipality in which a zone is located and who had been unemployed for at least 90 days or dependent upon public assistance.
- Subsidized unemployment insurance costs for certain new employees with gross salaries of less that $4,500 per quarter.
- Tax credit against the Corporation Business Tax of 8 percent of Investment in the zone by an approved “In Lieu” agreement with the Urban Enterprise Zone Authority and Municipality.
- Priority financial assistance for loans, grants and job training.
- Energy and utility service sales tax exemption on consumption within an enterprise zone by manufacturing firms with more than 250 employees, when more than 50 percent are in a manufacturing process.
- Business Retention and Relocation Assistance Grant (“BRRAG”) for relocation and retention of at least 250 non-retail jobs where the grant is a material factor. Special limitations/bonuses for UEZs.
- Business Employment Incentive Program (“BEIP”) applicants may be eligible for a grant award of up to 50 percent of the state income taxes withheld for new employees hired and may increase up to 80 percent if “Smart Growth.”