The Township of Gloucester has one of Camden County's most aggressive economic development programs. The Township's successful program has been featured in a number of newspaper publications.
Gloucester Township has attracted some of the area's biggest companies and helped smaller businesses as well as long-time Township businesses expand. The Township's commercial base is diverse: banking and insurance; healthcare; printing and publishing; dining; multi-tenant office centers and shopping centers. This diversity enhances Gloucester Township's business community, making it one of the top places that businesses and residents look to locate in the region.
The Township has targeted a number of areas for development:
The Cross Keys area of the Township has been the focus of much of the Township's economic development efforts, and as a result, has culminated into an impressive and attractive area for many developers. With a number of different projects in the works, the Cross Keys area of the Township will be a highly concentrated commercial development offering a wide variety of office and commercial uses.
The Township is also working in conjunction with Camden County to develop land at the County's Lakeland Complex and Camden County College. These are just a few examples of many of the development opportunities that are available in the community.
Gloucester Township has designated several areas of the Township as redevelopment areas under the Local Redevelopment and Housing Law. Declaring an area in need of redevelopment allows for financial incentives for redevelopment projects. Gloucester Township believes that its ability to grant tax exemptions and abatements is an essential part of a comprehensive strategy to attract new development and redevelopment.
In 1992, the Local Redevelopment and Housing Law was enacted, providing New Jersey municipalities the authority and flexibility to effectively revitalize their neighborhoods. Redevelopment is a very powerful and effective option to further the goals and objectives of the community as well as the goals and objectives of the developer. Enabling the municipality to act in a more business-like fashion in redevelopment projects, Gloucester Township has designated a number of areas within the community as redevelopment areas.
Gloucester Township currently has designated or is in the process of designating three areas as redevelopment areas.
The Township's commercial and industrial tax abatement program is a "phase-in" of property taxes over 5 years for new projects, or the rehabilitation and/or expansion of existing commercial and industrial properties. Developers must file a pre-application for abatement prior to construction. Further information and abatement applications are available from the Tax Assessor's Office at (856) 374-3532. All applications must be filed within 30 days from completion of construction
The PILOT Program is a form of a long term tax exemption in which the developer pays an annual service charge to the Township in the place of local property taxes. The municipality may base the amount of the PILOT on a percentage of a project's total cost over the term of the exemption or a percentage of the project's gross revenue which may fluctuate depending on the financial success of the project. In either case, the Township aims to reduce the amount of money a redevelopment project would be responsible for in property taxes.
In addition to tax exemptions and abatements, the Gloucester Township Economic Development Corporation can act as a link to Camden County College's New Jersey Workforce Development Partnership. Camden County College can help businesses to obtain public funds to pay for training to upgrade employee's skills. Camden County College has a $1 million track record in helping businesses obtain Work Force Development Grants from the State of New Jersey's Department of Labor. College personnel are familiar with the qualifying process and can assist in the application process. For more information on this free service, contact a Business Training Representative at (856) 874-6023, or send an email to the Director of Customized Training, Bill Mink at firstname.lastname@example.org, Camden County College.