Carteret, NJ – Mayor Dan Reiman’s administration has joined with the Carteret Business Partnership (CBP) to announce that the Borough is looking to recruit retail businesses, professional services and restaurants to town. There are numerous incentives available that dozens of businesses have already taken advantage of in Carteret.
“Local businesses would be the first ones to tell you that we go the extra mile to proactively promote, support, and nurture our business community,” says Mayor Reiman.
CBP will finance business opportunities through various ways, such as:
- Micro-loans for small businesses at the size of $10,000-$250,000.
- Small business start-up grants for up to $20,000 for new businesses.
- Marketing assistance grants for up to $5,000 after opening.
- Façade Grants for 75% program match of up to $25,000.
- Sign/Awning Grants for 75% program match of up to $5,000.
The CBP also assists business owners with hiring costs related employee background check such as driver’s abstract, fingerprinting, pre-employment medical/physical, and credit history report. The CBP is also offering an employee grant of $2,000 for each Carteret resident hired as a permanent full time employee.
Some of the other incentives available for employers are also available through Ready to Work New Jersey (RTWNJ). Ready to Work, which is run by the New Jersey Community College Consortium for Workforce and Economic Development and funded by state and federal grants, has a long history of success stories in pairing qualified applicants with companies looking to hire.
The Community College Consortium funds up to 90% of the new employees’ gross wages for up to 26 weeks for a maximum of $10,000 to cover the costs of the training and employment to the employer. The federal program primarily targets jobs in the following industry clusters:
- Information Technology
- Pharmaceuticals and life sciences; and
- Advanced manufacturing industries
The NJ Department of Labor and Workforce Development program targets jobs in the other industry clusters, such as:
- Financial Services
- Transportation, Logistics and Distribution; and
- Retail, Tourism and Hospitality
“Encouraging the establishment of new small businesses and nurturing their growth have been major facets of our agenda for a strong business community,” Mayor Reiman commented. “The small business grants and loans will provide potential investors with invaluable tools that may prove vital towards the development of a successful business venture.”
For businesses enrolled in the NJ Urban Enterprise Zone (UEZ) Program, there is an incentive of tax exemption for construction and facility expansion, technical assistance, reduced sales tax to 3.5% and Subsidized Unemployment Insurance costs for employees.
All grants and loans are subject to qualification. For further details, contact the Carteret Office of Economic Development directly at (732)541-3835 or visit www.carteret.info.