The New Jersey Economic Development Authority has unveiled a package of economic incentives to help three local Trenton businesses, it announced Friday.
Locally-owned Mill Hill Pharmacy; a Dunkin Donuts; and the owner of 302 E. State St., which houses East State Deli and Deals, Deals, Deals, will each receive aid from either the EDA’s Business Lease Incentive or Business Improvement Incentive programs.
Both programs are offered only to businesses trying to grow in EDA designated Garden State Growth Zones, which lie in Atlantic City, Camden, Trenton, Passaic and Paterson.
The BLI program reimburses 15 percent of annual lease payments for two years to for-profit businesses and non-profit organizations that plan to lease between 500 and 5,000 square feet of space for at least five years.
The BII program subsidizes up to 50 percent of total project costs for facility improvements, with a $20,000 cap, for first-floor located small businesses in target commercial corridors.
Mill Hill Pharmacy will receive up to $2,993 in rent subsidization per year for two years, the EDA said. According to owners Elina Elkind and Tatyana Orlova, the BLI aid will enable them to create 18 new full and part-time jobs.
“Mill Hill Pharmacy will offer residents of the surrounding neighborhood a community- and customer service-focused pharmacy,” Elkind said. “Our philosophy is based on old-fashioned customer service and educating our customers in maintaining a healthy lifestyle.”
Through the BII program, the EDA will subsidize $20,000 of the $53,000 in project costs for the 302 E. State St. property. Building owner Stanley Choung plans to strip the building’s paint, restore the original brick, replace the exterior window trim and strip and repair all the fire escapes.
And the Dunkin Donuts at the corner of Broad and East State streets will be provided $20,000 of the $43,500 in project costs for facade improvements to modernize its appearance, including a new paint job and the replacement of its exterior insulation and awnings.
“These improvements will not only help to make our business more appealing to customers, but will contribute to the attractiveness of the general area,” said owner Naresh Patel.