Urban Enterprise Zones Under Investigation
Do they work? That's the question as state officials investigate New Jersey's Urban Enterprise Zone (UEZ) program.
New Jersey's program is 26 years old, and exempts "participating businesses from paying sales tax on some purchases and offer incentives for job creation. Businesses in the zones can charge half the regular sales-tax rate - 3.5 percent - with some of the tax revenue going to local economic development projects and some to the state."
Two consultants have been hired to decide whether the program is worth the tax revenue - to the tune of almost $200 million dollars each year - or not.
Published on Monday, November 29, 2010 in
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