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Economic Dev/Reg'l Planning » Financial Resources / Programs » Urban Enterprise Zones

Urban Enterprise Zones

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Urban Enterprises

Purpose of New Jersey's Urban Enterprise Zones (UEZ): 

  • help stimulate new economic activity
  • reduce unemployment within the boundaries of each zone
  • provides incentives for businesses to come to these communities and occupy existing facilities or build new.

New Jersey Urban Enterprise Zone (UEZ) Status

Mount Holly and Pemberton Townships are two of only 31 New Jersey communities to qualify as an Urban Enterprise Zone (UEZ). This means that companies located in the zone:

  • Pay no state sales tax on building materials, services, and most tangible personal property.
  • Can charge customers only half the usual state sales tax rate of 7%.
  • Receive tax credits for hiring previously unemployed workers.
  • Receive unemployment tax rebates.

Mt. Holly Contact:

Coordinator, Mt. Holly Township
23 Washington Street
Mt. Holly, NJ 08060
(609) 267-0170, ext. 348 FAX: (609) 267-1951

Pemberton Contact:

Director Redevelopment & Urban Enterprise
500 Pemberton-Browns Mills Road
Pemberton, NJ 08068
(609) 894-3316, FAX (609) 894-2703

OTHER FINANCIAL INCENTIVES OFFERED BY MOUNT HOLLY & PEMBERTON URBAN ENTERPRISE ZONES

Mount Holly's generous tax abatement program covers both new construction and renovations to existing structures. Here's how the plan works for new construction:

  • 1st year: no taxes on facilities
  • 2nd year: 20% of assessed taxes
  • 3rd year: 40% of assessed taxes
  • 4th year: 60% of assessed taxes
  • 5th year: 80% of assessed taxes
  • 6th year: 100% of assessed taxes

For improvements and renovations to existing structures, a similar tax abatement program may be available.

MOUNT HOLLY'S PAYMENT IN LIEU OF TAXES PROGRAM

The Township has a tax abatement ordinance which features a Payment in Lieu of Taxes. This agreement tries to meet the needs of each company's particular requirements. This program alone can reap major financial reward for companies which take full advantage of Mount Holly's UEZ status.

Contact:

Coordinator, Mt. Holly Township
23 Washington Street, Mt. Holly, NJ 08060
(609) 267-0170, ext. 348 FAX: (609) 267-1951

Tax Assessor
(609) 267-0170, ext. 313, FAX (609) 267-8155

Check out loan programs with extremely low interest rates and other incentives for businesses

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