Inventive Development and the City of Salem, NJ are seeking qualified financial partners for their 1,000,000 SF phased port redevelopment project. The projects main focus is to develop and operate a Small Business Trade Assistance Center (SBTAC) which will offer shared office, virtual office, terminal logistics and storage to small – medium sized trade oriented businesses. The project also includes planned development for general industrial space. This is a politically motivated project which is to act as a logistical “relief value” for demand in the larger northeast ports of NY/NJ and Philadelphia. Several adjacent parcels are available for later expansion phases and are included in the redevelopment zone.
- The redevelopment Tract(s) fall with in the existing NJ Opportunity Zone.
- The site parcels are located within Foreign Trade Zone # 142 (FTZ) which provides import/ export tariff and duty benefits.
- New market tax credits are available.
- Salem, NJ is a designated agricultural municipality, which gives businesses access to USDA grant and loan program(s).
- The site has rail access/ spur which connects to CSX Tier 1 location.
- Federal and local government will conduct dredging and bulkhead expansion to accept Handy Max Class Vessels.