city of camden urban enterprise zone program d ana l. r edd mayor

City of CamdenUrban Enterprise Zone

Program

DANA L. REDD

MAYOR

Camden Urban Enterprise Zone Program

UEZ Staff

• Vincent Basara, Coordinator

• Yessica Sanchez, Admin. Assistant

• Joe Thomas, Business Representative


UEZ Program Background • Urban Enterprise Zone Program (UEZ) was

created in 1983 to revitalize the state’s most distressed urban communities.

• The UEZ is administered by the New Jersey Commerce Commission

• There are 32 UEZ programs in 37 municipalities.

• 25,000 businesses have participated in program.

• Companies have invested more than $20 billion in their businesses.

• More than $500 million has been approved from the Zone Assistance Fund.


UEZ in Camden• City of Camden was designated as a UEZ in 1984.• The program was designed to encourage business

development and create private sector jobs via public and private investment.

• More that 800 members have participated in the program since inception.

• Currently, 180 businesses are enrolled in the program.

UEZ in Camden• UEZ Active Business Membership: 180• Total Full Time Jobs: 4,425• Total Part Time Jobs: 483• Total Full Time New Jobs Created: 319• Total Part Time New Jobs Created: 156• Revenue Invested by Active Companies: $604,776,315• Projected Revenue Invested: $89,713,857


UEZ in Camden• Fiscal Year 2012-Total Approved-$799,733 • Fiscal Year 2011-Total Approved-$1,901,764 • Fiscal Year 2010-Total Approved-$2,567,644 • Fiscal Year 2009-Total Approved-$ 1,778,554• Fiscal Year 2008-Total Approved-$878,402 • Fiscal Year 2007-Total Approved-$1,180,400 • Fiscal Year 2006-Total Approved-$433,600

Total UEZ Funded Projects - $9,540,097



UEZ Boundaries


UEZ Business Incentives• Qualified retailers may charge 50

percent (3.5%) of New Jersey sales tax on “in person purchases”.

• Sales tax revenue is placed in a Zone Assistance Fund (ZAF) and reinvested in improvement projects and further economic development.

• Sales tax exemptions for materials and for tangible personal property.


UEZ Business Incentives• One–time corporation tax credit of

$1500 for full-time hiring of local residents.

• Businesses are tax exempt at the point of sale on purchases for their business.

• Energy and utility incentives for small businesses and manufacturing.

• Business Retention and Relocation Assistance Grant (“BRRAG”) for relocation and retention of at least 250 retail jobs where the grant is a material factor.


Qualifications

• Free program/no membership fees

• Must be registered with New Jersey Division of Taxation.

• Current on taxes.• Permanently located within

the boundaries of the UEZ.


UEZ Funding• The UEZ will continue to invest in

various “brick and mortar” projects such as streetscapes and facade improvement programs that add value to the commercial districts.

• UEZ funding is also applied to “clean and safe” activities. Clean-teams and CCTV camera projects will focus on promoting a consumer friendly environment.

• In addition to physical development projects, Camden UEZ will begin to spotlight “Human Capital” programs that address unemployment, job training, and basic educational development programs.


To Register for the UEZ ProgramContact:Urban Enterprise Zone ProgramCity Hall, Suite 1300520 Market StreetCamden, NJ 08101-5120Phone (856) 757-7679Fax (856) 968-4787www.ci.camden.nj.us

city of camden urban enterprise zone program d ana l. r edd mayor

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