Located in Union County, the Elizabeth Seaport Business Park benefits from the following incentives:
Foreign-Trade Zone 49 (FTZ 49)
Foreign-Trade Zone 49 provides companies with advantages that include: deferral, reduction or elimination of certain duties, reduction of Merchandising Processing Fees, exemption from inventory tax, simplification of import/export procedures, improved inventory and quality control, enhanced security measures, and waived customs duties on zone-to-zone transfers and merchandise placed on exhibition.
Urban Enterprise Zone (UEZ)
The UEZ Program exists to foster an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging businesses to develop and create private sector jobs through public and private investment.
New Jersey’s Portfield Initiative
Currently the demand is high for up-to-date distribution space in northern New Jersey and the Tri-State region. The area is dotted with older warehouses that do not fulfill customer needs. To address growing demand, the state of New Jersey established the Portfield Initiative, a long-term joint venture designed to help government agencies, developers and area cities transform brownfield sites or outdated facilities into more modern, state-of-the-art distribution centers near port sites. The Prologis Elizabeth Seaport is one example of the success of this state program.
Grow New Jersey
The Grow NJ program helps companies preserve and create jobs, expand operations, and reinvest in the State of New Jersey. Click on the links below to learn more about this incentive.