Jersey City Economic Development Corporation - Jersey City, NJ

About Jersey City Economic Development Corporation

The Jersey City Economic Development Corporation (JCEDC) is a non-profit autonomous agency that functions as the city's primary vehicle for economic growth and revitalization. Located at The Hub in Jackson Square, the JCEDC is dedicated to fostering a vibrant business environment, creating jobs, and stimulating investment throughout Jersey City. The corporation manages several critical financial and developmental programs designed to support small businesses and large-scale projects alike.

Financial Assistance and Loans

One of the core functions of the JCEDC is providing access to capital for local entrepreneurs who might otherwise face barriers to traditional financing.

• Small Business Loans: Administration of revolving loan funds to assist startups and existing businesses with expansion, equipment purchase, or working capital.
• Micro-Enterprise Funding: Programs targeted at micro-businesses to encourage grassroots economic stability.

Urban Enterprise Zone (UEZ)

The JCEDC administers the Jersey City Urban Enterprise Zone program. This state-designated initiative offers significant tax incentives to certified businesses located within specific zones of the city.

• Sales Tax Exemption: Certified businesses can charge half the standard sales tax rate (3.3125%) on certain transactions, attracting more customers.
• Tax-Free Purchases: Businesses can purchase capital equipment and supplies tax-free.
• Zone Assistance Funds: Revenue generated from the UEZ is reinvested into local improvement projects, security, and beautification.

Community Development

Beyond lending, the JCEDC engages in broader community development efforts, including technical assistance for business planning and acting as a liaison between the private sector and city government departments.

Visiting the JCEDC

The offices are housed in the Jackson Square municipal complex (City Hall Annex).

• Appointments: While staff are available during business hours, appointments are strongly recommended for loan counseling or UEZ certification assistance to ensure the appropriate officer is available.
• Accessibility: The building is fully compliant with ADA standards, featuring elevator access and modern facilities.