How does Hoboken’s reduced rate of 3.3125% foster business growth?

Hoboken’s Urban Enterprise Zone (UEZ) program significantly reduces the sales tax rate to 3.3125%, encouraging economic growth and revitalization. This program supports small and medium-sized businesses by lowering operational costs, attracting shoppers who benefit from reduced prices.

The UEZ initiative fosters job creation and local investment, transforming Hoboken into a vibrant hub for commerce. By offering financial incentives, the program sustains long-term economic development in targeted areas.