Having attracted 10 new businesses to the county and seen another two existing businesses expand, the Gloucester County Small Business Incentive Program is looking back on its first year with a sense of pride.
Sherry Spring, director of the Gloucester County Department of Economic Development, said that the program was “definitely a success” in its first fiscal year that ended on June 30.
Last year, the Gloucester Economic Development Authority launched the program with $55,000, to which the Gloucester County Board of Supervisors put up another $55,000. Based on the success of its first year, the EDA and supervisors each put $50,000 in the FY2016-17 budget to continue the program.
In all, the program saw more than $600,000 in private investment, Spring said, and $55,000 in public investment in rent assistance and property improvements. Ten previously vacant buildings are now occupied under three-year leases, she said, and the program helped bring in more than 45 full- an...
To view the rest of this article, you must log in. If you do not have an account with us, please subscribe here.