City of Camden Urban Enterprise Zone Program

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City of CamdenUrban Enterprise Zone Program

DANA L. REDD MAYOR
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UEZ Staff

• Vincent Basara, Coordinator
• Yessica Sanchez, Admin. Assistant
• Joe Thomas, Business Representative

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UEZ Program Background

• Urban Enterprise Zone Program (UEZ) was created
  in 1983 to revitalize the states 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.

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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.

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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

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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

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UEZ Boundaries
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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.

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UEZ Business Incentives

• Onetime 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.

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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.

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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.

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To Register for the UEZ Program

• Contact
• Urban Enterprise Zone Program
• City Hall, Suite 1300
• 520 Market Street
• Camden, NJ 08101-5120
• Phone [phone]
• Fax [phone]
• www.ci.camden.nj.us