INCENTIVE DESCRIPTION

State:	NJ
Incentive Type:	Special Purpose Zone Incentives and Credits
Incentive Title:	Enterprise Zone Credits
Description:	1.NEW JERSEY URBAN ENTERPRISE ZONE: Financial incentives available through the enterprise zone include: 1. Qualified businesses may charge 50% of New Jersey sales tax. Revenue generated from the sales tax is placed in a zone assistance fund. 2. 100% sales tax exemption for the purchase certain materials and tangible personal property. 3. One time tax credit against the Corporation Business Tax(CBT) of $1500 for each new full time employee hired who resides in the zone. A $500 tax credit is available for residents of any community within a designated zone but not employed by a qualified business. 4. Subsidized unemployment insurance for new employees with gross salaries of less than $4500/quarter. 5. 8% investment tax credit against the CBT . 6. Priority financial assistance for loans, grants and job training. 7. Energy and utility sales tax exemptions for manufacturing located in a zone with 500 or more employees. 8. Enhanced BEIP grants. 9. Enhanced BRAGG grants.
Eligibility Requirements:	Must be certified as a qualified business within a designated zone.
Geographic Restrictions:	Designated Zones
Granting Authority:	Local zone boards

The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.