Editing Carteret, New Jersey (section)

== Economy ==
Carteret Stages, a film production complex covering {{Convert|1200000|sqft}} and estimated to cost $1&nbsp;billion, is undergoing development at the waterfront.<ref>Fazelpoor, Matthew. [https://njbiz.com/carteret-collects-nearly-10m-in-grant-funding-for-film-studio-ferry-terminal/ "Carteret collects nearly $10M in grant funding for film studio, ferry terminal"], NJBIZ, April 17, 2024. Accessed April 19, 2024. "Carteret’s ambitious, $1 billion waterfront redevelopment took another step forward as two key components recently received grant funding. The 10-acre project includes a 1.2 million-square-foot movie production studio complex as well as an intermodal ferry terminal."</ref>

Portions of the borough are part of an [[Urban Enterprise Zone]] (UEZ),<ref>[https://www.carteret.net/wp-content/uploads/2018/05/Color-Map.pdf Urban Enterprise Zone] {{Webarchive|url=https://web.archive.org/web/20191228042350/https://www.carteret.net/wp-content/uploads/2018/05/Color-Map.pdf |date=December 28, 2019 }}, Borough of Carteret. Accessed November 19, 2019.</ref> one of 32 zones covering 37 municipalities statewide. The borough was selected in 1994 as one of a group of 10 zones added to participate in the program and one of four of those chosen based on a competition.<ref>[https://www.state.nj.us/dca/affiliates/uez/publications/pdf/tax_q&a_052709.pdf ''Urban Enterprise Zone Tax Questions and Answers''] {{Webarchive|url=https://web.archive.org/web/20160112140210/http://www.state.nj.us/dca/affiliates/uez/publications/pdf/tax_q%26a_052709.pdf |date=January 12, 2016 }}, [[New Jersey Department of Community Affairs]], May 2009. Accessed October 28, 2019. "In 1994 the legislation was amended and ten more zones were added to this successful economic development program. Of the ten new zones, six were predetermined: Paterson, Passaic, Perth Amboy, Phillipsburg, Lakewood, Asbury Park/Long Branch (joint zone). The four remaining zones were selected on a competitive basis. They are Carteret, Pleasantville, Union City and Mount Holly."</ref> In addition to other benefits to encourage employment and investment within the UEZ, shoppers can take advantage of a reduced 3.3125% [[sales tax]] rate (half of the {{frac|6|5|8}}% rate charged statewide) at eligible merchants.<ref>[https://www.nj.gov/dca/affiliates/uez/about/ Urban Enterprise Zone Program] {{Webarchive|url=https://web.archive.org/web/20190721130311/https://www.nj.gov/dca/affiliates/uez/about/ |date=July 21, 2019 }}, [[New Jersey Department of Community Affairs]]. Accessed October 27, 2019. "Businesses participating in the UEZ Program can charge half the standard sales tax rate on certain purchases, currently 3.3125% effective 1/1/2018"</ref> Established in March 1995, the borough's Urban Enterprise Zone status expires in March 2026.<ref>[https://www.nj.gov/dca/affiliates/uez/publications/pdf/ZONE%20EXPIRATION%20DATES%20-%202018.pdf Urban Enterprise Zones Effective and Expiration Dates] {{Webarchive|url=https://web.archive.org/web/20190923185010/https://www.nj.gov/dca/affiliates/uez/publications/pdf/ZONE%20EXPIRATION%20DATES%20-%202018.pdf |date=September 23, 2019 }}, [[New Jersey Department of Community Affairs]]. Accessed January 8, 2018.</ref>

Carteret is the location of the primary [[data center]] for the [[NASDAQ OMX Group]]'s [[stock exchange]].<ref>[https://www.nasdaqtrader.com/Trader.aspx?id=DirectConnect Direct Connect] {{Webarchive|url=https://web.archive.org/web/20140625055201/http://nasdaqtrader.com/Trader.aspx?id=DirectConnect |date=June 25, 2014 }}, [[NASDAQ OMX Group]]. Accessed June 18, 2014. "NASDAQ OMX Direct Connect is a dedicated connection for clients that are located outside of the NASDAQ OMX Data Center. Direct Connect clients may access all NASDAQ OMX markets and market data feeds in both the Carteret, NJ primary data center and the Ashburn, VA backup facility."</ref>

Carteret was the headquarters of the defunct electronics chain [[Nobody Beats the Wiz]].<ref>Christman, Ed. [https://books.google.com/books?id=0wkEAAAAMBAJ&pg=PA68 "Deal Brings Wiz A Crucial $25 Million"] {{Webarchive|url=https://web.archive.org/web/20231109195011/https://books.google.com/books?id=0wkEAAAAMBAJ&pg=PA68#v=onepage&q&f=false |date=November 9, 2023 }}, ''[[Billboard (magazine)|Billboard]]'', October 25, 1997. Accessed December 2, 2016. "Nobody Beats the Wiz, based in Carteret, N.J., has had a rocky year, suffering intermittent cash-flow problems, most recently in September, when it failed to pay most major music suppliers"</ref>

The [[Carteret Performing Arts Center]] opened in 2021.