Financial Incentives

The City of Vineland offers a comprehensive package of state and local financial incentives to assist businesses in successfully reaching their goals.  We’re committed to providing an integrated, solutions-based approach to business assistance that creates a foundation for entrepreneurs and companies to develop new ideas and foster economic opportunities.  Following is an overview of the programs currently available.  For more information and complete details about these programs, please call (856) 794-4100.​

URBAN ENTERPRISE ZONE LOAN PROGRAM

  • Maximum loan amount is equal to or less than one-third (33.33%) of hard or eligible costs.
  • A 10% borrower contribution is required.
  • Loan maturity of up to 20 years.
  • Business must be UEZ certified and located within the zone boundaries.
  • Residential development is not eligible.

HOMETOWN ENTERPRISE LOAN PROGRAM/UDAG

  • Maximum loan amount is $100,000, subject to availability of funding.
  • All appropriate business assets, personal guaranties, and personal assets as necessary to collateralize the loan.
  • Loan maturity of up to 10 years.
  • Eligible businesses should be UEZ certified, however, depending on availability of funding, businesses outside the UEZ may apply.
  • Residential development is not eligible.

REAL ESTATE TAX ABATMENT PROGRAM (5 YEARS)

  • Year One – Land taxes only.
  • Year Two – Land taxes + 20% of improvements.
  • Year Three – Land taxes + 40% of improvements.
  • Year Four – Land taxes + 60% of improvements.
  • Year Five – Land taxes + 80% of improvements.
  • Year Six – Full taxation begins.

GROW NEW JERSEY PROGRAM

The Grow New Jersey Assistance Program (Grow NJ) provides qualified businesses tax credits ranging from $500 to $5,000 per job, per year, with bonus credits ranging from $250 to $3,000 per job, per year if the project meets certain requirements such as location in an urban area or high employment levels.

  • Maximum credit amount is $15,000 per job, per year.
  • Maximum benefit period is 10 years.
  • Investment threshold to qualify is 10 full-time jobs for technology start-ups, and 25 new jobs in targeted industries, including transportation, manufacturing, defense, energy, logistics, life sciences, technology, health, and finance.
  • A minimum $20,000,000 capital investment is required.

SMALL BUSINESS LEASE ASSISTANCE PROGRAM

The New Jersey Small Business Lease Assistance Program offers a reimbursement of 15% of annual lease payments for two consecutive year’s. Funding is available to for-profit businesses and non-profit organizations located in the Vineland Urban Enterprise Zone that plan to lease between 500 and 5,000 square feet of new or additional market-rate, first-floor office, industrial, or retail space for a minimum five-year term.

  • A limit of one Lease Assistance grant will be approved per applicant (or related entity) over the 3-year life of the pilot program.  Applicants that have been approved for a GSGZ Business Improvement Incentive are not eligible for Lease Assistance, and   vice versa.

  • As this is an incentive program, no award will be made for leased space that has already been executed prior to application.

  • Applicants or related entities operating within a facility that has received incentives through Grow NJ or ERG are not eligible.

  • Applicant must certify that they are not in default of any other EDA financing.

  • High Tech and Business Incubator members in Not for Profit facilities would not be eligible for independent lease incentives (operators are eligible.)

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