| Zone (UEZ) programs
are the most productive business incentive packages in New
Jersey. As a result, job growth in the state’s 32 zones —
situated in 37 municipalities — is outperforming non-UEZ
areas. Since 1985, the state’s UEZ program has helped create
over 157,000 full-time jobs that have resulted in more than
$20.4 billion of private investment by businesses in the
zones. Since its inception, nearly 25,000 businesses have
participated in the program, and more than 8,000 qualified
businesses now participate in the program.
The UEZ board has distributed $575
million in sales tax revenue to 1,750 different economic
development programs. The benefits of being located within
an UEZ are numerous. Businesses can receive sales tax
exemptions on equipment and supplies, including building
materials, and corporate tax credits for hiring within
designated employee groups. Additionally, qualified retail
businesses may charge only 50% (3.5%) of the mandated 7
percent sales tax on all “in person” customer purchases.
Other benefits range from subsidized unemployment insurance
costs to priority financial assistance for labor training.
And companies in UEZs may be eligible for a $1,500 tax
credit for each new full-time employee matching certain
residence or employment qualifications.
Current UEZ's include:
Property Tax Abatement and
Exemptions |
