Contact Us
UEZ Director: Penni Forestieri
- Phone: (973) 321-1220
- Fax: (973) 321-1356
About The UEZ Program
The Urban Enterprise Zone (UEZ) is a state-designated program to alleviate unemployment and to enhance the economic climate in distressed cities throughout New Jersey. The City of Paterson is one of New Jersey's original Urban Enterprise Zones. In fact, one of the founders of the United States, Alexander Hamilton, helped formulate the city as a hub for the country's growing industrial revolution. The Paterson UEZ was designated as an Urban Enterprise Zone in 1994 and plays a vital role in the City's ongoing restoration and economic growth.
Tax Incentives
Today, Paterson retains it's proud history and is making a true "silk to silicon" transformation. Central to this revitalization is the UEZ Program as it enables retail members to charge 3 1/2% sales tax giving them a competitive edge over other businesses. All UEZ business members benefit from the tax exemption allowed for operating supplies which includes 100% exemption from the NJ State Sales and Use Tax for the purchase of all tangible property (excluding motor vehicles). This includes the following:
- Office Supplies
- Services, including installation
- Building Materials
- Repairs and Improvements to existing properties
- Financial Assistance from agencies such as the New Jersey Economic Development Authority
- Subsidized Umemployment Insurance Costs for employees earning less than $4,500 per quarter
- Energy Sales Tax Exemption for qualified manufacturing firms with at least 250 full-time employees
- Tax Credit for up to $1,500 for new, permanent, full-time employees hired or up to 8% corporate business tax credit on qualified investments
Revolving Loan Programs
The
Revolving Loan Program was created for qualified Urban Enterprise Zone
businesses to provide the financing necessary to promote economic growth
with the City of Paterson. The loans are available to qualified, UEZ
certified businesses that are located with Urban Enterprise Zones
The UEZ Loan program makes additional financing available for projects that might not otherwise be financed through a private bank.
-
Revolving Loan Program funds range from $200,000 to $500,000
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Small Business Loans range from $10,000 to $50,000
News
More | 
- UEZ Monthly Update - September 2015
Published: Monday, October 05, 2015
The UEZ gained several new businesses since the month of August. We ... - UEZ Monthly Update - July 2015
Published: Wednesday, September 30, 2015
The UEZ gained 5 new businesses to date since the last month. The nu... - What's Brewing!
Published: Friday, July 17, 2015
Related Pages
More |
- UEZ Newsletter Spring 2010
Published: Sunday, May 09, 2010 - UEZ Newsletter Fall 2010
Published: Saturday, October 09, 2010 - UEZ Certified Businesses
Published: Tuesday, May 08, 2012
Landscaping & Construction Perfection Landscaping Construction Compr...