The Paterson Urban Enterprise Zone (UEZ) is a program established by the State of New Jersey to stimulate economic development and employment in distressed cities. As one of the 37 zones in the state, Paterson became a designated UEZ city in 1994. Qualified retail businesses in the zone can charge half of the state's sales tax on certain purchases, while all member businesses enjoy tax exemptions on operating supplies. Manufacturers may also qualify for sales tax exemptions on energy and utility services. The UEZ has successfully utilized social media to promote its mission.
The UEZ has gained several new businesses since its last update, and offers a small business loan application with eligibility requirements and procedures. The program aims to support local businesses and contribute to the revitalization of Paterson, NJ.
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