Asbury Park has received $526,000 in funding from New Jersey Urban Enterprise Zone Administration for initiatives to support local businesses. Funding will be used to create a façade and walkway improvement program and a micro-business lease subsidy program, support public safety measures with the addition of supplemental Asbury Park Police foot patrol through the city’s business districts, and create a Workforce Development program in conjunction with the Boys and Girls Club of Monmouth County.
The UEZ program was created in 1983 to stimulate growth in urban communities, providing incentives for businesses to set up shop and create private-sector jobs. The program also offers reduced sales tax, currently 3.3125 percent, and tax-free purchases on items such as capital equipment, facility expansions, upgrades and supplies.
The Asbury Park UEZ Facade and Walkway Improvement Program is designed to help business owners improve the appearance of their storefronts and entrances and increase the curb appeal of the business district. Registered UEZ businesses can apply on the city’s website beginning June 1 for a reimbursement of 50 percent of the cost of improvements up to $5,000. All applicants must be registered with the NJ UEZ and applications must be received by December 31, 2023.
The city of Asbury Park UEZ Micro-Business Lease Subsidy Program will support the growth and success of new small businesses, with up to 10 employees, by providing grant funding to cover a portion of the businesses’ lease payments. Registered UEZ businesses can apply on the City’s website beginning June 1, 2023 to receive 10 percent of the business lease payment, up to $500/month for 6 months. All applicants must be registered with the NJ UEZ and applications must be received by Dec. 31.
“Zone Assistance Funding from the State’s UEZ Administration is going to be put to work for Asbury Park businesses, starting with the Façade and Walkway Improvement Program and the Micro-Business Lease Subsidy Program,” saidCity of Asbury Park Urban Enterprise Zone Business Development Administrator JulieAnn Murray, “As we receive additional funds from the State we aim to add initiatives to support our businesses and hope all Asbury Park business owners will take advantage of the opportunities.”
“We are thrilled that the State of NJ has revived the Urban Enterprise Zone program,” said Deputy Mayor Amy Quinn, “The program serves as a valuable resource to our business community and our hope is that the initiatives supported by the funding provided will help grow current businesses and attract new businesses and customers to Asbury Park.”
For questions on Asbury Park’s UEZ programs and how to register, contact the City’s UEZ Business Development Administrator JulieAnn Murray at JulieAnn.Murray@cityofasburypark.com or 732-502-4579.
