Cumberland
County Development
Situated in
the heart of the Northeast Corridor, one of the premier markets
and manufacturing centers in the world, Cumberland County offers
a combination of assets which are not found in anywhere else in
the region. With great proximity to places such as New York, Washington,
Atlantic City, and Philadelphia, the County provides an uncongested
environment, outstanding quality of life, affordable land and
property, and easy access to world-class entertainment.
Twice voted
one of the "best places to live in New Jersey" by Money
Magazine, Cumberland
County can offer affordable housing, an economical business location
to excellent highways and rail service, a competitive regulatory
climate, and an abundance of beautiful natural resources, unspoiled
towns and villages, and picturesque scenery. This combination
of assets is extremely rare and makes Cumberland County an excellent
commercial and industrial destination. Businesses looking to locate
or expand in Cumberland County have a number of excellent financial
incentives available to them. These benefits include grants, low-interest
loans, tax credits, and job training assistance.
A number of
national and regional retail chains have located in Cumberland
County, which has helped to enhance our outstanding retail service
marketplace. The Cumberland Crossings Mall provides 300,000 square
feet of commercial shopping space and features a variety of specialty
stores, as well as the major retail chains Wal-Mart and Staples.
In addition, the Cumberland Mall has evolved into a major regional
shopping center, featuring large anchors such as Boscov's, Home
Depot, Toys-R-Us, and the 16 screen Regal Cinema. A number of
smaller regional chains including The Gap, Old Navy, and Victoria's
Secret make it a truly complete shopping experience.
While Cumberland
County is the home of several large international businesses including
Lawson Mardon-Wheaton, T-Fal, US Filter, and Pillsbury-Progresso
Foods, it is also home to several service industries including
a large insurance company, a major hospital system, and a variety
of State Institutions. A number of new businesses, large and small,
have made Cumberland County their new home, including Gateway
Computers, Pastidore USA, Holiday Inn, and the Wingate Inn and
Conference Center - all of which contract with Fortune 500 firms
nationally and international. More and more companies are making
the move to Cumberland County.
Cumberland
County offers the area's best incentive package, accessible and
affordable sites, and the region's most available and hardworking
labor force. A Federal Empowerment Zone designation, two Urban
Enterprise Zones, flexible financing, and low business costs make
Cumberland County competitive with all areas of the country. In
addition there is some of the finest executive housing at very
reasonable costs. Lastly, a quality educational system, which
produces highly trained and capable students, employees and citizens,
makes Cumberland County a great place to do business.
In 1999, portions
of Vineland, Millville, Bridgeton, and Commercial Township were
selected over hundreds of other areas around the country for a
Federal Empowerment Zone designation. The inter-municipal, County
Zone was one of only 15 Round II Empowerment Zone designations
nationwide.
The Federal
Empowerment Zone initiative is the most significant investment
in urban and rural communities revitalization in a generation.
The program allocates up to $230 million in tax incentives and
flexible funds over a 10-year period, providing targeted neighborhoods
and business activities through the development of infrastructure,
transportation, job training, childcare, and neighborhood revitalization
initiatives.
Empowerment
Zone incentives include flexible loan and grant funding, the work
opportunity and Welfare to Work tax credits, tax exempt Empowerment
Zone Facility Bonds, and several allowable deductions under the
tax code including the environmental cleanup cost deduction.
For a project
to be eligible for Zone Incentives Funding, it must be located
in an Empowerment Zone census tract including Bridgeton 201, 203,
205; Vineland 401, 402, or a developable site (Millville Municipal
Airport, Vineland Industrial Park, Port Norris Waterfront).
Projects seeking
Empowerment Zone funding must meet at least one of the nine goals:
