U.E.Z. Program

Looking for a competitive edge to help your business grow and thrive?

Asbury Park has the answer. The waterfront development plan has been approved. The revitalization of the downtown shopping district is well underway. The Asbury Park Urban Enterprise Zone Program (APUEZ) offers participating businesses an advantage by providing incentives that encourage growth while stimulating the local economy. Build your business with the help of the APUEZ program:

• 100% sales tax exemption for specified materials and tangible personal property.
  
• Qualified retail businesses may charge 50% of the 7% NJ sales tax on certain "in person" purchases.
  
• Revenues generated from the 3.5% sales tax are maintained in a Zone Assistance Fund (ZAF) dedicated for use within the APUEZ for certain economic development and/or public service improvement projects.
  
• One-time corporation tax credit of $1,500 for each new, full-time permanent employee who is a resident of Asbury Park and has been unemployed for at least 90 days or dependent upon public assistance.
  
• Subsidized unemployment insurance for certain new employees with gross salaries of less than $4,500 per quarter as per Department of Labor schedule.
  
• Tax credit against the Corporation Business Tax of 8% if investment is an approved "In Lieu" agreement with the Urban Enterprise Zone Authority and City of Asbury Park.
  
• Priority financial assistance from the New Jersey Local Development Financing Fund (LDFF) and Department of Labor Job Training Program.

Currently, there are over 100 businesses participating in the APUEZ program. We have successfully reinvested our sales tax revenues to assist those companies and improve the quality of life in our community. The APUEZ Board of Directors and many volunteers are presently offering the following programs:

Facade Improvement Program Phase IV: Certified businesses can receive up to $10,000 in matching grants for facade improvements. These renovations include windows, doors, awnings, signage, lighting as well as siding or other improvements to the front of the building.

APUEZ Micro-Loan Program: In partnership with the New Jersey Community Loan Fund, this program offers qualified businesses up to $25,000 at a low interest rate for a term of five years. In addition, we work closely with a number of state agencies and local banks to assist you with other financing requirements.

Clean Sweep Program: This year we provided funding for a new sidewalk sweeper that will be utilized in the business district to assist in our efforts to keep our shopping areas clean. In addition, we gave the city the down payment to purchase a new street sweeper.

Marketing Program: The APUEZ in partnership with the Greater Asbury Park Chamber of Commerce, the Asbury Park Merchants Guild and other community groups and individual business owners has launched a city marketing campaign. This includes advertising, web site design and management, directional signage, public relations and special events.

We are presently conducting a search for new board members and volunteers.  You must be a resident, Asbury Park buisness owner or an employee of an Asbury Park-based business to serve on the Asbury Park Urban Enterprise Zone Program's Board of Directors.  If you are interested please conduct Steve Kay, City Clerk to complete a volunteer application form.  Thank you. 

It's finally happening where the city meets the sea. Why not take advantage of all Asbury Park has to offer? For additional information, please contact Tom Gilmour, Director of Commerce at (732) 502-5749.