Urban Enterprise Zones (UEZs) are designated areas that offer tax incentives and financial assistance to encourage business growth and job creation. Cape May County has three UEZ districts in North Wildwood, West Wildwood, and Wildwood Crest that have over 200 active businesses employing around 2,000 workers. Benefits for businesses in UEZs include reduced sales tax rates, tax exemptions on equipment and facility investments, and tax credits for hiring new employees or making capital investments.
1. Urban Enterprise Zones – New Jersey
OVERVIEW
Enacted in 1983, the Urban Enterprise Zone (UEZ) program fosters economic revitalization in designated urban
communities by offering incentives that encourage businesses to create private sector jobs through public and private
investment. Approximately 6,800 certified UEZ businesses participate and benefit from the UEZ program. The benefits
include a number of tax and other financial incentives, including:
• Half the standard sales tax rate charged on certain purchases, currently 3.5%.
• Tax exemptions on certain purchases including capital equipment acquired and investments made to build a new,
expanded or upgraded facility
• Annually, either a one-time $1,500 tax credit for each new permanent full-time employee hired; or alternatively, a tax
credit against the Corporate Business Tax up to 8% of qualified investments
• Priority financial assistance from state agencies.
• Subsidized unemployment insurance costs for certain employees earning less than $4,500 per quarter.
• Electricity and natural gas sales tax exemption by manufacturing firms with at least 250 employees, over 50% of
whom are in a manufacturing process.
For more information visit the NJ Department of Community Affairs Forms & Information site, at
http://www.nj.gov/dca/affiliates/uez/publications/.
Cape May County
North Wildwood West Wildwood
Community Profile UEZ District Profile Community Profile UEZ District Profile
population active businesses population active businesses
4,010 52 603 3
labor force zone employment labor force zone employment
1,860 233
600 12
per capita income per capita income 10
500 50 8 10
$31,748 463
$27,606 6
400
HS degree or higher HS degree or higher 4
300 2 1
345
88.6% 84.8% 0
2
200 -2
largest occupations largest occupations -6
100 -4
116 -6
12,000 75
0 -8
9,000 60
Full time Part time Full time Part time
45
6,000 New Jobs Created New Jobs Created
Existing Jobs 30 Existing Jobs
3,000 15
0 largest sectors 0 largest sectors
1 Construction
1
Transportation
18
local contact: 27 Retail Trade local contact: 3 Transportation
UEZ Coordinator FIRE UEZ Coordinator
5
Enterprise Dev Corp Services Enterprise Dev Corp
609-522-2444 609-522-2444
2. Cape May County
Wildwood City
Community Profile UEZ District Profile
population active businesses
5,325 125
labor force zone employment
3,269
1600
per Capita Income 1400
$25,118 1200 363
1000
HS degree or higher 980
800
82.5%
600
160
largest occupations 400
420
200
1,000
0
750 Full time Part time
500 New Jobs Created
Existing Jobs
250
0 largest sectors
2 8 Construction
Wholesale
local contact: 62 Retail Trade
46
UEZ Coordinator FIRE
Enterprise Dev Corp 5 Services
609-522-2444
Wildwood Crest
Community Profile UEZ District Profile
population active businesses
3,270 77
labor force zone employment
1,643
700
per capita income 600
174
$40,032 500
HS degree or higher 400 475
89.1% 300
45
200
largest occupations 208
100
600
0
Full time Part time
400
New Jobs Created
200 Existing Jobs
0 largest sectors CHOOSE NJ CONTACTS
Tracye McDaniel | President & Chief Executive Officer
2 Construction Michael Chrobak | Chief Economic Development Officer
9
2 Wholesale EconDev@choosenj.com
Retail Trade 609-297-2200 www.ChooseNJ.com
local contact: 7
56 FIRE SOURCES: US Census Bureau; NJ
UEZ Coordinator Services Department of Community Affairs
Enterprise Dev Corp
For more detailed community information review our county
609-522-2444 profiles at http://www.choosenj.com/resource_directory.html