Lakewood UEZ: ‘Still Going Strong Despite Pending Changes’

uez seminarOn March 16, Governor Christie outlined his plan for getting New Jersey back on track financially. His proposed budget, which will affect all New Jersey residents in both the public and private sectors, was based on the extensive studies of his transition team, who reviewed all the programs operated and funded by the State. Many of the suggested changes to programs are aggressive. While the governor still needs the approval of the N.J. Assembly before his proposals become law, it is clear that after all the compromises, everyone will still need to share the burden of recovery.

In order to turn our state’s economy around, however, the governor is fully aware we still need to attract and retain businesses. In doing so, those businesses will bring revenue and much needed jobs to our state. The statewide UEZ program, with its tax breaks and incentives, as well as the innovative economic development projects it has implemented and plans to implement, will serve the governor well in his dedicated efforts to help the State financially.

Although the UEZ will be seeing some regulatory changes, businesses in the program will still enjoy all the amenities of the program. Project initiatives to aid Lakewood’s business community now under consideration for approval are moving along through the process in Trenton, and Lakewood Township officials anticipate endorsement of them.

Over the years the Lakewood UEZ has provided over $11 million in business loans through its Financial Assistance Program to help new businesses open, grow, and thrive. UEZ projects, such as this one, have enabled the business community to survive despite the economic crisis.

The Lakewood UEZ has contributed much value to the Lakewood economy for fifteen years. Because of the benefits they derive, new businesses join the program each week with many more seeking to start a business within the municipality’s UEZ. Currently 402 businesses are participating in the program that serves as a catalyst for economic growth and job creation and retention.

While locally, there are varying opinions as to the impact of UEZ projects on individual businesses, especially under the current economic conditions, the UEZ advisory board and the new administrators and staff in the local office are committed to assisting businesses and providing incentives to promote commerce, job creation, and job retention in Lakewood.

As a result, the focus of the UEZ will be on the new entrepreneurial and business spirit of our community through new projects, with an eye on small and start-up businesses. New projects will include an expanded micro-loan financial assistance program, a cooperative advertising program, free and expanded Business Encouragement Seminar series, and an exciting Small Business Development Consulting Program.
You can be confident that the administration and the staff of the Lakewood UEZ are ready to assist the business community, keeping it viable and competitive in the current economic crisis.

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2 COMMENTS

  1. who wrote this?80 to 90 percent of uez budget in last 10 years whent to non community projects like stadium<strand<spanish busing and clases for illiegal immigrants etc lakewodd oilam has gottom maybe 10 percent and from that 10 percent 100 whent to select few!!!!!

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