GrovePath wrote:
$350G from state UEZ Authority to help move firms to Jersey City

Tuesday, July 24, 2007
By KEN THORBOURNE
JOURNAL STAFF WRITER

The Jersey City Economic Development Corporation (JCEDC) has handed out $350,000 to help move firms relocating to the city's state-designated Urban Enterprise Zone, officials announced yesterday.

UEZ zones are eligible for tax breaks from the state due to unemployment rates and other factors. Businesses in the zones can charge customers 3.5 percent sales tax, half the normal rate.

"These grants offered by the Jersey City Economic Development Corporation assist some of the world's finest corporations in relocating here," said Jersey City Mayor Jerramiah Healy. "And when new companies come to Jersey City, they often bring with them new jobs."

The JCEDC received a total of $750,000 from the New Jersey State Urban Enterprise Zone Authority for relocating businesses, which the city is doling out in $50,000 chunks.

To qualify, business must be willing to hire at least 10 Jersey City residents for full-time work, officials said.

The two most recent grant recipients are New York Sample Card Company, a fabric manufacturer, and Opera Solutions, LLC, an international management-consulting firm, both relocating from New York City.

Other New York businesses which have received moving money are: Medico Graphic Services, Inc., Citco Fund Services, a financial services provider; Rajbhog Foods, an Indian sweets and snacks firm; Falcon International, a warehousing concern; and Denmark Military, Inc., an embroidery company.