Newark program incentivizes local shopping for residents
Newark is the latest city to launch a program that make rebates available to residents who shop within the city limits.
The program is simple, spend money at a participating business and get cash back or tax credits.
The model is already in place in other New Jersey towns, such as like Marlboro and Union.
Businesses simply pay $10 a month, and customers will swipe a card.
According to the program developers, on average, a person could get several $100 cash back at the end of the year or if you own property, an equal amount in tax credits.
Newark Mayor Ras Baraka explained why he thinks this will have such a positive impact.
"Everybody has pushed so we can grow and have a robust small business community,” says Baraka. “Now we need residents to invest their dollars in the city where they live. This is an opportunity to do that: to get a tax rebate just so you can shop around the corner from where you live, I think it's an awesome idea."
Smitty and Mo’s is one of the first businesses to sign up.
Organizers say if 100 businesses sign up, it could add up to $6 million extra into the community in just three years.
The program will launch in June.
Interested business can sign up going to their website.