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Welcome to the Lakewood Development Corporation Web Page
Welcome to the Lakewood Development Corporation Web Page.
How You Benefit
So why should your business participate in the Lakewood Urban Enterprise Zone program? Well, for starters, you will have an opportunity to reduce your company’s operating costs by being able to purchase most business products and services – such as office machines, janitorial services, uniforms, etc. – free of state sales tax. You may think of this as an automatic seven percent (7%) discount on what you’re paying currently for these items.
Secondly, Urban Enterprise Zone businesses which retail their tangible personal products may do so at the reduced New Jersey Sales Tax of 3˝ % - an attractive feature to cost conscious consumers.
Third, when it is time for your business to borrow money, as a qualified Urban Enterprise Zone business, you’ll be able to apply for a reduced rate loan – often at Prime rate or below.
Additionally, if you hire workers who meet program eligibility criteria, your company may be able to realize a New Jersey Corporate Income Tax Credit of $500 to $1,500.
How the Community Benefits
Finally, the other reason for participating in this program is that, when you do, you help increase job opportunities for local residents, all of whom contribute to the economic well being of this community. The Lakewood Urban Enterprise Zone program strongly encourages U.E.Z businesses to meet their job creation quota (usually one additional full-time person) with Lakewood residents – in this way, the U.E.Z. program benefits everyone in the community.
Lakewood's website at www.twp.lakewood.nj.us
Contact Information
Lakewood Development Corporation
231 Third Street
Lakewood, NJ 08701
Phone: 732-364-2500 x.5256
Fax: 732-364-5417
Send Executive Director Russel Corby Email
Lakewood Development Corporation Website