In the first, Hillside will spend just under $1 million as part of a major streetscape initiative. And in Paterson, $500,000 will go for that city's Business Improvement Matching Grants Program, which is designed to improve the infrastructure of targeted commercial areas.
Overall, the state's UEZ program and its 27 designated urban enterprise zones have generated more than $13.1 billion worth of private investment since the program started in 1983, and have created more than 58,000 full-time jobs. "The program continues to demonstrate that consistent private investment coupled with targeted public dollars yields significant dividends," according to state commerce secretary William D. Watley, chairman of the UEZ Authority. "We will leverage the capabilities of our economy to spur the redevelopment of these areas."
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