The City of Asbury Park is currently designated as a New Jersey Urban Enterprise Zone (UEZ). This program provides incentives to locate your business in Asbury Park.
Benefits of Participating in UEZ
Those benefits include:
Energy sales tax exemption for qualified manufacturing firms with at least 250 employees, 50% of whom are working in manufacturing
Financial Assistance from agencies such as NJEDA
Reduced Sales Tax - currently 3.3125%, effective January 1, 2018
Subsidized unemployment insurance costs for employees who earn less than $4,500 per quarter
Tax Credit Options with owners electing one of the following: Up to $1,500 for new permanent full-time employees hired -- or -- Up to 8% Corporate Business Tax credit on qualified investments
Tax-free purchases on certain items such as capital equipment, facility expansions, and upgrades