The Lakewood Urban Enterprise Zone (UEZ) program, now over three decades old, has seen a remarkable influx of new businesses in recent months. Over 10% of its 700-plus members have joined since spring, thanks in part to the efforts of Moshe Bender, the UEZ’s new Business Development Officer.
Bender attributes the surge to businesses recognizing the benefits of UEZ membership, including reduced sales tax rates, low-interest loans, and tax-free equipment purchases. “When businesses understand the benefits and ease of the process, they jump at the opportunity,” he says.
The UEZ program is a collaborative effort between Lakewood Township officials and local nonprofit organizations, including the Lakewood Development Corporation (LDC) and Lakewood Community Services Corporation (LCSC). Currently, roughly 25% of Lakewood’s land mass is within the UEZ zone, with plans to expand the map to include more businesses pending State approval.
Lakewood Mayor Ray Coles, a small business owner and LDC Vice Chairman, has been instrumental in the UEZ’s success since the 1990s. He credits the program with transforming Lakewood’s business sector and quality of life, with UEZ tax revenue funding local projects like the ShoreTown Ballpark stadium and Downtown Lakewood improvements.
Does your business qualify for UEZ benefits? Please visit www.lakewoodnj.gov/department/uez; email uez@lakewoodnj.gov; or call 908-783-9465 for more information.