In 1993 the state enacted the Urban Enterprise Zone Program (UEZ) to a help facilitate the rejuvenation of impoverished cities within the state. Camden is one of the cities receiving benefits under this program which was designed to offer incentives to companies locating within the designated zones. Some of the benefits include sales tax exemptions for hard goods needed for business start up, reduced sales taxes (3%) to sales from within the physical locations, corporate tax credits, subsidized unemployment insurance, and priority processing for state labor training programs. (‘Urban Enterprise”, 2002, screen 1) Additional funding is available through the Empowerment Zone which is a federally sponsored program designed to provide funding for not only economic development but quality of life issues which attract and retain the residents. This program offers funding for development of such areas as education, health care, and housing to name several. (“Empowerment”, 2002, screen 1) The city of Camden established in 1999 the Business Development Center which coordinates the various state, federal and local economic development plans and acts as a central location for coordinating business development programs within the city. The package of economic stimulus offered by the various programs described above provides incentive for new business development within the city limits.
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The City of Camden has taken a proactive role in planning and putting forth effort in conjunction with local stakeholders in rejuvenating the city. The redevelopment plan is quite comprehensive and divides the city into three districts. …
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