Description
Marketing Description
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.
Investment Highlights
- 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.
