Trenton Awarded $1.7 Million to Support Business Growth and Investment in the Capital City
The City of Trenton has been awarded $1.7 million from the New Jersey Urban Enterprise Zone Authority (UEZA) to establish a new loan fund aimed at attracting significant business investment, creating economic activity, and strengthening commercial areas within Trenton’s Urban Enterprise Zone.
The funding will support the Trenton UEZ Anchor Loan Fund, which will provide financing opportunities for qualifying businesses, restaurants, and other major commercial establishments looking to invest in Trenton.
The program is intended to support larger projects that can serve as economic “anchors” in their neighborhoods—businesses and facilities capable of bringing jobs, customers, investment, and sustained economic activity to surrounding commercial areas.
“This $1.7 million investment is great news for Trenton and for businesses looking to grow and invest in the Capital City,” said Mayor W. Reed Gusciora. “We want businesses to see Trenton as a place where they can put down roots, create jobs, serve our residents, and become part of the long-term growth of our neighborhoods. This new loan fund gives us another important tool to help make those investments happen.”
The Anchor Loan Fund is separate from New Jersey’s ANCHOR property tax relief program. Eligibility for the Trenton UEZ loan program will be based on criteria including the size of the proposed facility and the scale and potential economic impact of the business or project.
The initial $1.7 million State award will allow Trenton to establish the fund, and the project may be eligible for additional UEZA funding in the future.
“This is about putting resources directly behind economic development in Trenton,” said Coordinator Eric Maywar. “When we help businesses invest in our commercial corridors, the benefits extend beyond a single storefront. Those investments can create jobs, bring more people into our neighborhoods, support nearby businesses, and build momentum for additional private investment.”
The Anchor Loan Fund adds to the assistance already available through the Trenton Urban Enterprise Zone, including small business financing designed to encourage hiring and job creation and the Commercial Building Forgivable Loan Program, which helps attract new businesses while giving existing Trenton businesses opportunities to expand and improve their properties.
Businesses located in—or considering a location within—the Trenton UEZ are encouraged to learn more about the City’s programs and available assistance.
For more information about the Trenton Urban Enterprise Zone and its business programs, visit trentonuez.org.
