Press "Enter" to skip to content

Small Business Incentive Program a success in its first year

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.