You don’t have to live in Lakewood to save money. Everyone who shops at the Home Depot in the Town and Country Shopping Plaza, 1990 Route 70, Lakewood, will quickly realize tremendous savings because shoppers there only pay 3 ½ percent sales tax instead of 7 percent, a substantial savings for customers, especially on big ticket items. Yehuda Abraham, co-coordinator of the Lakewood UEZ who was worked diligently along with UEZ officials here and in Trenton to get the UEZ boundaries changed, says, “This tax incentive will definitely help businesses be more competitive, increase employment opportunities, and help both the township and businesses realize additional revenue.  Who wouldn’t want to save money! This program is a win-win for everyone.”
As of December 2, 2009, Governor Corzine approved the boundary modification plan proposed by Lakewood Township’s Urban Enterprise Zone (UEZ), putting the Town and Country Shopping Plaza within the “Zone,” a move that should bring in about $2 ½ million in revenue each year to Lakewood Township. 
Patricia Komsa, the Lakewood UEZ executive director, “Usually it takes several weeks to get a business UEZ certified; however, we were able to get Home Depot certified within 48 hours, giving Lakewood Township a much needed economic boost as shoppers take advantage of the lower tax rate.”
Lakewood Township has been waiting 15 years for this economic boost. The UEZ is a program designed to help municipalities that have a high rate of unemployment and other economic disadvantages. Fifteen years ago when Lakewood’s UEZ boundaries were proposed, neighboring towns opposed putting the Town and Country Shopping Plaza in the Zone, claiming that Lakewood would have an unfair economic advantage. Over the last 15 years, however, many businesses, such as Raymour and Flanigan, Lowes, Target, Costco, etc., opened outside of Lakewood’s borders.  
Besides the 3 ½ percent sales tax savings for customers who shop at UEZ retailers, qualified UEZ businesses will be will be able to purchase supplies or equipment, or make improvements to their businesses, all tax exempt.  There are more than 400 businesses in Lakewood that are certified UEZ businesses. This is just the stimulus Lakewood needs to help revitalize its economy.
Lakewood Mayor Robert W Singer says, “The reauthorization of the UEZ for another 15 years and the inclusion of the Town and Country Shopping Plaza in the UEZ will help augment Lakewood’s tax base and ratables, stimulate employment, motivate job retention, and aid the town in recruiting businesses to the new areas of the zone.
“Having a 3 ½ percent sales tax is an excellent draw for customers to come to Lakewood, make purchases, and patronize the business here in Lakewood. This is just the stimulus Lakewood needs to help revitalize its economy.”
For further information, contact Yehuda Abraham, director of business development for the Lakewood Development Corporation in charge of business development and business attraction.
 
PHOTO CAPTION (L TO R) Russell Corby, retiring director of Lakewood’s UEZ; Jane Ryan, design consult; Lakewood Mayor Robert W. Singer; Patricia Komsa, director of Lakewood’s UEZ; Wanda Schrader, carpet specialist; Julisa Echevarria, department supervisor; and (kneeling) Sal Tagliarino, department supervisor, and Scott Hartley, assistant manager
 
PHOTO CAPTION (L TO R) at Sign: Patricia Komsa, director of Lakewood’s UEZ;  Mayor Robert W. Singer; Russell Corby, retiring director of Lakewood’s UEZ