Business & Finance

Governor Signs Bill Reactivating Newark's Urban Enterprise Zone

b9ab1d34a4c47f0d185a_UEZ1200x800.jpg
b9ab1d34a4c47f0d185a_UEZ1200x800.jpg

NEWARK, NJ - Gov. Murphy Wednesday signed legislation reactivating Urban Enterprise Zones for five years in five communities across the state, including Newark.

The legislation, co-sponsored by Assemblywoman Eliana Pintor Marin, a Democrat from Newark, allows qualifying businesses in the UEZ to charge and collect the state’s sales and use tax at one-half of the normal rate. 

"I want to applaud Gov. Murphy for signing this legislation extending the UEZ program and I am proud to have played a role in sponsoring and shaping the legislation," said Pintor Marin.

Sign Up for E-News

"The UEZ rewards businesses that continue to invest in urban communities like Newark while providing a break on sales tax for shoppers who support those businesses," Pintor Marin said. "It's a win-win, common-sense, fiscally sound program that has helped revive struggling urban areas throughout the state."

The law reinstates UEZs in Bridgeton, Camden, Newark, Plainfield and Trenton until Dec. 31, 2023. The UEZs in those municipalities had expired during the Christie administration and were not renewed.

The law requires the Department of Community Affairs (DCA) to study the UEZ program and to submit to the Legislature a report and recommendations as to whether the program should continue as is, be amended, or expire. 

The measure also requires the state Department of Community Affairs to submit a report to the Legislature the report on the Urban Enterprise Zone program and the department's recommendations as to whether the program should be reconstituted, continued as it currently exists, or continued with specific recommended changes. 

The law directs the New Jersey Urban Enterprise Zone Authority to fund the cost of conducting the study and preparing the report from the account maintained in the name of the authority in the enterprise zone assistance fund.

The bill also provides that, after dedicating 10 percent of UEZ sales and use tax revenues for administration of the UEZ program, the remaining revenues would be divided equally for UEZ purposes and General Fund purposes. The bill specifies that UEZ purposes are limited to economic development and job creation purposes.

The bill also requires the Department of Community Affairs (DCA) to study the UEZ program and to submit to the Legislature a report and recommendations as to whether the program should continue as is, be amended, or expire. 

The UEZ Program - first created in 1983 - offers participating businesses incentives that encourage business growth and stimulate local economies.

Approximately 6,800 certified UEZ businesses participate and benefit from the advantages of the UEZ program statewide. These include a number of tax and financial incentives, including tax credits to hire local workers.

New Jersey currently has a total of 27 UEZ's in 32 communities.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Montclair

Former Jefferson School Staffer Facing Criminal Charges For Alleged Lewd Photos of Students

June 21, 2018

MAPLEWOOD, NJ - A former Jefferson Elementary School paraprofessional has been charged with criminal behavior believed to be related to lewd photos of students at the school that were found on his cell phone after he was arrested in Morris County on an unrelated sexual charge.

It also appears that South Orange Maplewood School District officials knew about the arrests as early as ...

NJ Native and Children Shot in Colorado Road Rage Incident: Child Dies

June 22, 2018

WESTMINSTER, COLORADO: A native of Colts Neck, NJ and her children were attacked in a road rage shooting that left her 13 year old son dead and both her and another child injured. A third child was able to run to safety.

Jeremy Webster, 23, was charged with first degree murder, extreme indifference; three counts of attempted first-degree murder; three counts of first-degree assault ...

Upcoming Events

Carousel_image_9f96b00f934f44e64d68_fridays-for-families-social-media-03

Fri, June 22, 3:00 PM

Outside of U.S. Rep. Rodney Frelinghuysen's office, Morristown

Fridays for Families: Vigil in Morristown calls ...

Government Health & Wellness Law & Justice

Fri, June 22, 8:00 PM

Education Center, West Orange

Night Moves: Evening Guided Zoo Tours

Education Other

Montclair Police Blotter: Thai Chef Burglarized, Four iPhones Stolen and More

June 13, 2018

MONTCLAIR, NJ -  The following police blotter was compiled by the Montclair Police Department on June 12, 2018:

Burglary/Theft:

06-05-2018 (Union Street) Burglary to an apartment.  Cash was taken in this incident.  Access was gained through an unlocked rear door.  

06-05-2018 (Union Street) Theft of a scooter from the rear yard of a residence.

06-05-2018 (Elm ...

'Half Time' delivers with sterling cast

MILLBURN, NJ – The Paper Mill Playhouse is putting on a smashing new production of “Half Time” to round out its current season.

With actress Georgia Engel in an engaging performance, the cast also features Donna McKehnie, Andre De Shieilds and Lilias White, among a host of other talents.

The musical centers on an effort to have seniors perform a dance number during ...

'Half Time' lights up Paper Mill stage

‘Half Time’ turns the tables on aging in gleeful production

By Liz Keill

MILLBURN, NJ – The Paper Mill Playhouse is putting on a smashing new production of “Half Time” to round out its current season.

With actress Georgia Engel in an engaging performance, the cast also features Donna McKehnie, Andre De Shieilds and Lilias White, among a host of other ...

Montclair July 4th Celebrations to Honor Township's Sesquicentennial

June 22, 2018

MONTCLAIR, NJ - Montclair is celebrating July 4th with a special 150th anniversary themed parade and fun-packed family picnic – expanded to mark the Township's sesquicentennial in style. The day’s events will be followed by evening fireworks at Yogi Berra Stadium on the Montclair State University campus. The parade and picnic are free, admission to the stadium will be $3 ...