Mount Holly is a fast growing, historic community in southern New Jersey, nestled in the heart of the eastern shore business corridor. This Burlington County seat is a quaint and charming town featuring a bustling downtown district, and adjacent industrialized and commercial market areas.
As an Urban Enterprise Zone (UEZ) community, Mount Holly offers tremendous tax advantages and assistance programs for businesses of all sizes and stages of development. With attractive demographics, affordable housing and buildings, beautiful landscapes, and temperate climate – Mount Holly is a great setting for any business.
Mount Holly is in a stage of major revitalization, with more than twice the national job growth. Whether you are a start-up venture seeking capital, an established regional entity wanting a more appealing and affordable setting, or a national corporation looking for an attractive demographic region and access to major metropolitan resources, your business can take advantage of this exciting period of renewal. Mount Holly and its partnering entities are here to guide you and help your business prosper.
Qualified businesses have the opportunity to be part of our Urban Enterprise Zone (UEZ) Program. Program incentives include certain tax exemptions and reductions – including 100% sales tax exemption for specified material and tangible personal property; corporate tax credits; and subsidized unemployment insurance costs. Loan programs and grant programs to assist your business in a wide variety of ways.
Mount Holly’s affiliation and partnership with county and state resources provide additional business assistance, including financing and relocation programs for businesses seeking to build a presence in the area.
Main Street Mount Holly, a volunteer driven, non-profit program certified by the National Trust for Historic Preservation and Main Street New Jersey, also takes an active, visible role in promoting commerce, arts, and events in the town. Communities and businesses taking part in the Main Street New Jersey initiative have experienced proven growth with accompanying positive economic impact.
Billboard Advertising Opportunity
New for 2016 the Mount Holly UEZ will provide the opportunity for UEZ businesses to participate in an advertising campaign aimed at bringing more awareness to the downtown businesses through billboard advertising.
Details will be released shortly outlining the requirements for the advertising opportunity.
Good Neighbor Loans
To assist UEZ-certified businesses by loaning funds at below-market rates for a variety of business improvement purposes.
Funding up to $25,000 will be provided to approved applicants for three, five, or seven year terms. Funding can be used for leasehold improvements, capital purchases including equipment, fixtures, workplace automation devices, and computers, and for inventory expansion. Preference will be given to applicants that can demonstrate how the loan will allow the business to increase employment and attract additional consumers, visitors, and enthusiasts to Mount Holly
Loan Applications and supporting documents can be found here.
Programs and Incentives
Businesses participating in the UEZ Program can access a number of financial programs designed to stimulate job creation and business growth.
- 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.”
For details on the UEZ Program and other Commerce incentives call (609) 777-0885 or in-state toll free 86-NJFIRST9.