N.J. UEZ program loses 92 cents on every dollar spent

TRENTON, N.J. — One New Jersey Assemblyman thinks it’s long past time to revisit New Jersey’s Urban Enterprise Zone program.

Why? For starters, says Assemblyman John DiMaio (R-23), the program hemorrhages 92 cents on every single dollar invested by taxpayers.

On Wednesday, citing not a terrible return on the dollar but also a lack of results in distressed urban centers, Assemblyman DiMaio told the Assembly Budget Committee that it’s time to replace the UEZ program with a tax system designed to increase private investment.