A Message from the Director: 

 Economic Development Heats Up with Summer Programming 

The Mercer County Office of Economic Development will host and co-host several programs in July.  In our continued partnership with the Small Business Development Center (SBDC), Mercer County will take part in the Meet the Lenders event on July 18th from 9:30am-12:30pm at The College of New Jersey.  This event will provide information for businesses that need additional financing to grow and expand.  If you would like to  register for this free event and learn more about these funding opportunities, please click on Meet the Lenders.                                                                                        

Mercer County is also holding a free educational event to discuss the SMBX Small Business Investment Program on Wednesday, July 24. Small business owners looking for funding should attend this free event to learn how you can raise capital without fees or personal guarantees.

When: Wednesday, July 24th, 8 am - 10 am
Where: Princeton Country Club, 1 Wheeler Way, Princeton, NJ 08540
Register Here

Requirements:
● Business must be for-profit and be established before April 10, 2023
● Business must have 6 months of net positive income (flexible based on circumstances).
● Business must raise between $25,000 - $5 million
● Business must be registered in New Jersey with a physical location in Mercer County
● Business must have 30 or fewer employees (part-time employee counts as 1/2 of a full-time employee)
● Owners of 20% or greater must pass a background/credit check
● Business must have less than $10 million in gross revenue

Finally, Mercer County Executive Dan Benson will present on July 31st at the Princeton Mercer Chamber's Trenton Economic Development Series Breakfast event to discuss his priorities for Trenton. Entitled Trenton: The Heart of Mercer County, the County Executive will cover the progress on the long-stalled redevelopment of the Broad Street Corridor, the completion of the Assunpink Creek Bridge replacement, and efforts to expand affordable housing through the Mercer County Improvement Authority. Additionally, the County Executive will discuss collaboration with the Governor's Office on the upcoming Welcome Center in Trenton aimed at enhancing events and tourism for the nation's 250th anniversary as well as the renovation of the Trenton Ball Park to reintroduce a Minor League team.

For more information or to register, please click on Chamber event.  

We hope that you continue to stay connected to any future Mercer County Economic Development programs throughout the year.  Enjoy the rest of your summer!  

Sincerely,

Anthony P. Carabelli, Jr.                                                                                              Director, Mercer County Office of Economic Development

NJEDA Provides Assistance to Technology Companies through the Angel Match Program 

The Angel Match Program provides growth capital to support early-stage New Jersey technology companies from product development towards successful, scalable commercialization. Under the Angel Match Program, the NJEDA is the first entity to commit capital to a technology company, leading to other investors who provide matching funds. The NJEDA’s investment ranges from $100,000 up to $500,000, and matched on one-to-one basis with the company’s corresponding preferred equity round. “The Angel Match Program is designed to amplify the growth of New Jersey’s early-stage technology sector,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “With an emphasis on matching angel and seed stage investments, the program reinforces the state’s commitment to nurturing an ecosystem conducive to technological advancement and economic diversity.” For more information on the Angel Match Program, please click on the NJEDA Angel Match Program.

Office Spotlight: Mercer County Foreign Trade Zone 

Since the late 90s, Mercer County has enjoyed the designation of a Foreign Trade Zone (FTZ) grantee.  As one of only 4 other areas within the State of New Jersey with this designation, Mercer County can provide businesses that are involved with international trade certain duty savings and other benefits. 

Specifically, the FTZ is a designated location in the United States where companies can use special customs procedures that boost U.S. activity and value compared to foreign alternatives. This is done through offering cost-reduction measures and tools to help streamline the import and export process.

Below you will find some of the specific benefits of the program.

• Duty Exemption: No duties on or quota charges on re-exports.
• Duty Deferral: Customs duties and federal excise tax deferred on imports.
• Logistical Benefits: Companies using FTZ procedures may have access to streamlined              customs procedures (such as “weekly entry” or “direct delivery”).
• Other Benefits: Foreign goods and domestic goods held for export are exempt from state/local    inventory taxes. 

Mercer County has businesses throughout our region that conduct international business and may benefit significantly from this program.

Please click on brochure for the main aspects of this program.  Also, do not hesitate to contact our Business Advocate Darren Stewart at 609-989-6912 or darrenstewart@mercercounty.org for more information or to initiate the application process.   

New Mercer County Business Handbook 2024

Mercer County Office of Economic Development has recently updated its Business Handbook.  This resource document provides information on State, County and local business programs.  In addition, there is contact information for county and municipal departments regarding a variety of business related issues including taxes, permits, planning and redevelopment questions.

Please click on Business Handbook 2024 to view this business opportunity guide.    

Mercer County Office of Economic Development

Anthony P. Carabelli, Director * (609) 989-6555 * acarabellijr@mercercounty.org