Developer & Job Creation incentives:
Better than ever & Better in Trenton
Trenton: a Garden State Growth Zone.
Trenton: has been designated by the NJEDA as a Garden State Growth Zone community. Through the GROW NJ Assistance Program, a business relocating and growing in Trenton will be positioned to participate in remarkably focused incentives for job creation. Starting at a base of $5,000 per job, there are a number of different bonus factors including: proximity to transit, high salaried jobs, LEED construction – up to an annual maximum of $15,000 per job, and extending for up to ten years!
ERG: a key Developer Incentive Program
The Economic Redevelopment & Growth Program (ERG) is NJEDA’s key Developer Incentive Program. It is an ideal tool for remaking well-located urban buildings to current market standards. It provides tax credit for the substantial rehabilitation of existing structures. In Trenton these incentives can total 40% of renovation hard and soft costs.
Trenton: a HUB Zone location
By locating in Trenton, a business seeking contracts with the federal government is well positioned to participate in the US Small Business Administration’s efforts to encourage economic development in Historically Underutilized Business Zones – HUB Zones. In FY 2014, the federal target for contracts with small business came up short by 40% or over $4.3 billion.
HUB Zone businesses have access to sole source/non-competitive and competitive set-aside federal contracts, for total value up to $3.5 million for services and up to $5.5 million for manufacturing. HUB Zone firms are attractive to larger federal government prime contractors for teaming, joint ventures or mentor/protégé relationships.
Trenton: a designated Urban Enterprise Zone
The Trenton Urban Enterprise Zone (UEZ) offers tax savings to businesses and customers, including sales tax, payroll taxes and corporate business taxes. Learn more about the program and what it can offer.