The Urban Enterprise Zone (UEZ) Program was created to foster an economic climate to revitalize designated urban communities and stimulate their growth by encouraging businesses to develop and create private sector jobs through public and private investment. Certified commercial businesses within the Newark UEZ district can benefit from UEZ incentives. With every dollar spent at eligible Newark UEZ businesses, 3.3125% of the sales tax collected is invested back into the local community through special projects. These reinvestment projects may include:
In Newark, the UEZ is administered by Invest Newark.
Newark Retail Reactivation Initiative
A comprehensive initiative to revitalize Newark’s retail corridors and support local businesses, the City of Newark and Invest Newark have pledged $2.3 million in funding for eight retail businesses as part of a new Retail Reactivation Initiative to increase the number of amenities in Newark’s Arts & Education District.
An Urban Enterprise Zone (UEZ) is a designated area where businesses can qualify for tax incentives and other benefits to encourage economic growth and development.
Certain certified UEZ businesses can charge their customers 3.3125% sales tax, providing a competitive edge to registered businesses, and benefit from tax-free purchases on capital equipment, facilities expansions, upgrades and certain personal property. Member businesses can also take advantage of the various business assistance programs offered by the City’s UEZ office.
Businesses can apply online through the New Jersey Business Navigator portal. You’ll need to provide business registration information, tax clearance certificate, and other required documentation.
UEZ certification is valid for one year. Businesses must recertify every year to maintain their benefits and participation in the program. The recertification form is mailed to you about a month before your year is up.
What is an Urban Enterprise Zone?
An Urban Enterprise Zone (UEZ) is a designated area where businesses can qualify for tax incentives and other benefits to encourage economic growth and development.
What benefits do businesses receive in the UEZ?
Certain certified UEZ businesses can charge their customers 3.3125% sales tax, providing a competitive edge to registered businesses, and benefit from tax-free purchases on capital equipment, facilities expansions, upgrades and certain personal property. Member businesses can also take advantage of the various business assistance programs offered by the City’s UEZ office.
How do I apply for UEZ certification?
Businesses can apply online through the New Jersey Business Navigator portal. You’ll need to provide business registration information, tax clearance certificate, and other required documentation.
How long does UEZ certification last?
UEZ certification is valid for one year. Businesses must recertify every year to maintain their benefits and participation in the program. The recertification form is mailed to you about a month before your year is up.
Have Questions? Ask the UEZ Coordinator
Andrea Cozier McLean
[email protected]
