Introduction / Overview

· Carteret Business Partnership - $10 million in grants / capital investments

· 2007 ratables - $19 million in growth

· $50 million in grants since 2003

· Interchange 12 changes – paving the way for economic development

Industry

· Brownfields redevelopment – IPORT 12

· Snapple, Goldman Sachs, ProLogis, Naca Logistics, Verizon, PC Richards, ASA Apple, Duie Pyle, Prizm, Arizona Tea

· PLA – labor agreements accompanying development & redevelopment to ensure union labor

Redevelopment

· Washington Avenue – new streetscape, facades, business grant & loan programs – 4 new businesses in 2007, more to come including the relocated Burger Express

· Residential developments catering to the young professional – $60 million Bristol Station

Education

· New Learning Center at Carteret Library – Computer Lab

· Computer courses, ESL, Lectures on DVD, corporate & state endowments

· Children’s Section to be expanded

· Corzine’s new School Aid Funding Formula - $4.2 million increase fpr FY ‘09, capping out at $18 million in 4 years

· School Board – shared services encouraged, $500,000 tax cut demanded

Public Works / Shared Services

· Shared Sanitation services with Woodbridge – saving Carteret $300,000, more efficient

· Meals on Wheels

· Future – animal control other resources

Budget / Administration

· Consolidation of departments – recycling / public works

· Streamlining administrative services

· Elimination of 14 municipal positions since 2004 – 7% decrease

· Future staff reductions based on eligible career employees – rising healthcare & pensions

· Quality administrative staff

· Municipal tax rate increase held at 3.5%

· $50.6 million in grants since 2003 = 517 tax points / $6,200 savings per household

Parks

· $11.5 million in grants since 2003 specifically for parks

· Waterfront Park – home to many new special events – new additions – active/passive recreation, Danielle’s Garden

· N.J. D.E.P. designation = $5 million annually for remediation costs – paving way for 250 slip marina

· Civic Center Sports Complex – newly resurfaced & upgraded – state of the art artificial turf

· Wellness Center – 36,000 sq. ft. health facility, $6 million in grants to date

Federal Funding

· Bush – freezing benefits / health insurance for veterans for FY09, elimination of Community Development Block Grant Program

· Seniors – prescription drug discount program

· Planned public housing for veterans & seniors

Growth / Conclusion

· UEZ facilitated job growth - #1 by UEZ / per 100 businesses

· 325 new private-sector jobs in 2008 – 10%