Incentives


Tenants of Harborside Plaza 10 can benefit from some of the most aggressive economic benefits available from the State of New Jersey.  These include:



 
  • Grow NJ Assistance Program: Grow NJ is a powerful job creation and retention incentive program that strengthens New Jersey's competitive edge against tax incentive programs in surrounding states.  Businesses that are creating or retaining jobs in New Jersey may be eligible for up to tax credits ranging from $500 to $5,000 per job, per year; with bonus credits ranging from $250 to $3,000 per job, per year. 
 



 
  • Urban Enterprise Zone Program:  New Jersey's Urban Enterprise (UEZ) Program enacted in 1983 is in the Department of Community Affairs. The UEZ Program exists to foster an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging businesses to develop and create private sector jobs through public and private investment.  Benefits to UEZ firms include:
 
  • Businesses participating in the UEZ Program can charge half the standard sales tax rate on certain purchases, currently 3.5%.

 
  • UEZ businesses may enjoy tax exemptions on certain purchases including capital equipment acquired and investments made to build a new facility, expand, or operate an existing facility.
 
  • For each new permanent full-time employee hired, businesses may receive a one-time $1,500 tax credit.
 
  • Alternatively, the UEZ Program allows a tax credit against the Corporate Business Tax up to eight percent of qualified investments within the zone.
 
  • Businesses may be eligible for priority financial assistance.
 
  • Employers may benefit from subsidized unemployment insurance costs for certain employees who earn less than $4,500 per quarter.


Loading