By now. the Lakewood Urban Enterprise Zone (UEZ) program is over three decades old. Still, over 10% of the 700-plus businesses in its rankshave joined within the past few months alone.

Moshe Bender, the UEZ’s newly minted Business Development Officer, has been hard at work recruiting new businesses. “When businesses understand both the benefits they can enjoy and just how easy the process is, they jump at the opportunity,” he says.

These businesses now enjoy a range of special UEZ benefits, such as charging customers half the standard sales tax rate; obtaining low interest loans and grants; and purchasing equipment tax free. Lakewood Townshipofficials; along with officials at the Lakewood Development Corporation (LDC) and Lakewood Community Services Corporation (LCSC) nonprofit organizations; work together to administer the local UEZ program and deliver benefits to its members.

Roughly 25% of Lakewood’s land mass is within the current UEZ zone. Businesses within the map’s borders – including office, retail or home based businesses – currently qualify for membership. Township, LDC and LCSC officials are in the process of redrawing the map to include many additional businesses. The new map is pending State approval in the coming months.

Lakewood Mayor Ray Coles, a small business owner and Vice Chairman of the LDC, has been instrumental in the local UEZ since the 1990s. He says that in addition to helping countless Lakewood businesses see success, the UEZ has changed the face of Lakewood as a whole. UEZ tax revenue is allocated towards an array of local projects, including the ShoreTown Ballpark stadium and adding parking and sidewalks in Downtown Lakewood and other areas of town. “The UEZ has been – and continues to be – an incredible boost to Lakewood’s business sector and quality of life,” says Mayor Coles.

Already the flagship UEZ program in the State, and the only one within a twenty mile radius, the future of the Lakewood UEZ is on track towards its most vibrant days yet.

Does your business qualify for UEZ benefits? Please visit www.lakewoodnj.gov/department/uez; email [email protected]; or call 908-783-9465 for more information.