UEZ program was developed by the State of New Jersey to foster an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging businesses to develop and create private sector jobs through public and priviate investment.
In Elizabeth, the UEZ program is a model success story. Elizabeth established its UEZ over 25 years ago, and today it operates as one of the most successful economic development programs in the state and the nation.
As a testament to its success, the Elizabeth UEZ has one of the highest number of participating businesses and a proven track record of turning investments into economic recovery.
Elizabeth’s UEZ was also named the best in the United States by the National Association of State Development Agencies.
Since its inception, Elizabeth’s UEZ program has been a catalyst for more than $2 billion in new economic development in the City. These initiatives range from large-scale redevelopment efforts along the City’s waterfront, to more targeted projects revitalizing business districts in the City’s vibrant neighborhoods.
The 3½ percent reduced sales tax benefit has provided more than $100 million in additional funds for reinvestment into the Zone. This massive reinvestment includes funding for additional police, elaborate streetscape beautifications and enhanced infrastructure improvements, as well as many other economic development programs designed to help businesses succeed in Elizabeth.
