Financing/Incentives

Financing/Incentives

The CCIA, Your Business Advocate

In serving the county’s economic development needs, the Cumberland County Improvement Authority and its partner agencies also help businesses identify and secure the financial support services required for their growth needs. We work with existing or new businesses and organizations in the County to help you easily navigate matters such as incentive packages, program guidelines, site location, planning, permitting, and more.

The CCIA works alongside of business decision makers to identify all the Federal, State and local programs for which you qualify and which offer you ways to minimize your capital expenditures. Incentive programs including the Grow NJ Assistance Program, area Urban Enterprise Zones, a Foreign Trade Zone at the Millville Airport, and others help the CCIA to attract new businesses and assist existing expansions.

In the past three years the Improvement Authority has financed capital projects totaling $109 million, utilizing bond financing, tax credits, redevelopment laws, and state incentive programs.    In addition, the CCIA partners directly with local economic development offices, community development financial institutions, state authorities and independent nonprofit organizations to layer the financing needed to get projects completed. These projects had an economic impact of $403 million, representing nearly $4 dollars of investment for every $1 dollar invested by CCIA.

Financial Assistance

No other county in the region can match the array of outstanding financing and other incentive programs offered here. In addition, we’ve assembled a team to help you successfully navigate through matters like site planning, permitting, program guidelines and more. As a multi-faceted agency, the Improvement Authority provides the financing, technical assistance, pre-development, development and management expertise for all aspects of business planning, construction, and operations. The Improvement Authority also provides full support to businesses for locating, remaining and expanding in Cumberland County including facilitating the connections necessary to secure funding for job training, infrastructure, equipment and other development needs.

New Jersey Economic Development Authority provides low interest loans plus value-added tax exempt bond and gap financing.

US Economic Development Authority administers its Revolving Loan Fund (RLF) Program, which supplies small businesses and entrepreneurs with the gap financing needed to start or expand their business.

Cumberland Empowerment Zone can assist developers in direct loan funding, technical assistance and tax incentives.

USDA Rural Development forges partnerships with rural communities, funding projects that bring housing, community facilities, utilities and other services. They also provide technical assistance and financial backing for rural businesses and cooperatives to create quality jobs in rural areas.

NJ Community Capital  is a community development financial institution that provides financing and technical assistance in underserved communities.

Brownfield Clean up Funding assists developers investing in a re-purposed or redevelopment site.

Federal Public Infrastructure Funding helps extend public infrastructure to a development site or provide public improvements for a project with qualifying
job creation.

The Grow NJ Program provides corporate business grants and tax credits for job creation and retention featuring

  • Up to $300 million in available financing
  • Up to $90,000 in financing and tax credits for each new hire
  • Location tax credits up to $1,500
  • Employment tax credits for creating 10+ jobs

State Urban Enterprise Zones

Locating a business here can significantly reduce development costs with eligibility for Urban Enterprise Zone benefits including:

Resources

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