The Wildwoods are home to hundreds of Hotels, Motels, Restaurants, Bars, Nightclubs, Retail Shops, Amusements and Professional Offices. These vibrant and thriving businesses make the Wildwoods a destination for hundreds of thousands of visitors and locals alike each year.
Both the BID and the SID work to support this vibrant business community through all of the efforts detailed in their Annual Reports. Each of these activities is specifically aimed at making the businesses in the district more vibrant, profitable and sustainable. The Improvement Districts are not government programs, but a partnership of business, government and the community.
The Wildwoods participate in the Urban Enterprise Zone Program (UEZ). The Program’s charter is to foster an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging business to develop and create private sector jobs through public and private investment.
BENEFITS TO BUSINESSES IN UEZ
- Reduced Sales Tax – currently 3.5%
- Tax Free Purchases on certain items such as capital equipment, facility expansions, upgrades and certain personal property
- Financial Assistance from agencies such as NJEDA
- Subsidized unemployment insurance costs for employees
- Energy Sales Tax Exemption for qualified manufacturing firm
- Tax Credit Options (1) up to $1,500 for new permanent full-time employees hired or (2) up to 8% Corporate Business Tax Credit on qualified investments
For more information about the Enterprise Zone Development Corporation Of The Wildwoods.
If you are interested in purchasing property in Downtown Wildwood contact our BID Member Wiechert Realty 800-401-0486.