Because of our desire to see corporations and businesses remain and expand in Gloucester County, the Gloucester County Improvement Authority is actively financing those who locate their businesses to locally designated Redevelopment Zones. Because this type of financing can be so attractive, many business owners from inside and outside of Gloucester County regularly seek out redevelopment zones in which to establish their businesses.
For-profit businesses which qualify for tax-exempt bonds are those that are involved with the manufacturing of a product as well as the addition of temporary and permanent jobs to the area. This tax-exemption is a great financial incentive as it can lesson a company’s debt service by thousands of dollars annually. Current programming is in place to assist each municipality in redeveloping vacant, underutilized, or Brownfields locations.
Those businesses that are non-manufacturing and located in a redevelopment zone can qualify for taxable financing through the GCIA. This can be of great benefit as many bonds can be stretched out to a term of 20 or 30 years.
Benefits
* Low closing rates
* Flexible payment schedule
* Quick Turnaround
* Relationship with Local
Economic Development Agencies
