New Jersey legislators defend Urban Enterprise Zones
Lawmakers in New Jersey who support Urban Enterprise Zones made the case yesterday for the business-supportive zones, as the state makes plans to phase the tax benefits out.
Legislators relied on numbers to prove their point.
Those in support of the UEZ program, which offers lower sales tax to business and preserves tax revenue for improvements, say the average number of minority-owned businesses in the 32 zones is far higher than the state average.
Assemblywoman Annette Quijano, D-Union, says the UEZ rate of minority-owned businesses is 23 percent, compared with the statewide 9 percent, as the Press of Atlantic City reports.
The Christie administration is seeking a phase-out after a study by the New Jersey Institute of Technology, Delta Development Group and HR&A Advisors found the program diverts funds from other areas of the budget.
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