Hunterdon Business News - Hunterdon County Chamber of Commerce

HUNTERDON BUSINESS NEWS

2020 WHAT A YEAR WHAT LIES AHEAD

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2020 - ONE FOR THE RECORD BOOKS

by Christopher J. Phelan - President

January 2021 Dear Chamber Members, To say these are unprecedented times would be an understatement. When I think about how everyone, everywhere, has had to adapt, both personally and professionally, it’s almost unfathomable. As business owners, you’ve been forced to think outside the box, pivot and remain flexible amidst a constant climate of uncertainty. I’ve spoken with many of you about your individual struggles, and I applaud you for your resilience and determination.

Please know that the Hunterdon County Chamber of Commerce is here for you. I’m proud to say that, like you and your fellow business owners, the Chamber has “dug in” and reached deep to continue to support our members. Examples of Chamber outreach these past few months include: Engaging with members to answer questions and concerns in real time, by providing business direction, solutions, and advice.

Maintaining an active COVID-19 Business Resource Page, with local, regional, state, and federal information.

Connecting members with critical information about grants, loans, PPE and other essential resources.

Offering webinars, town halls and virtual presentations to connect business owners with the information you need to weather this challenging environment.

Continuing to serve as Hunterdon County’s strongest business advocate via our numerous local and statewide partnership.

Establishing the Hunterdon Economic Recovery Fund to assist Hunterdon County businesses through Economic Recovery Grants and other resources.

Chamber membership demonstrates to the public that your business is committed and established and the Chamber remains a premier means to connect and engage with fellow businesses and the community through numerous active committees and initiatives. We’re ready and willing to inspire you to stand out in Hunterdon County. How can we best serve you during these uncertain times? Please don’t hesitate to reach out to me directly at 908- 782-7115, extension 222. I welcome the opportunity to talk about how you’re doing and how I can be of assistance to you.

Thank you for your membership with the Hunterdon County Chamber of Commerce and your contributions to the broader business community. We will get through this uncertain time and I firmly believe that we will emerge stronger and wiser from lessons learned as we’ve been forced to adapt our business models.

On behalf of the Chamber Board and staff, I look forward to continuing to serve you and your colleagues and wish you and yours a happy, healthy, safe and prosperous New Year ahead.

All my best,

Christopher J. Phelan President

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Hunterdon County Chamber Foundation & the Economic Recovery Task Force Awards Grants The newly established Hunterdon Economic Recovery Task Force has worked with the Hunterdon County Chamber of Commerce Foundation to establish a Hunterdon Economic Recovery Fund. Recently the Chamber Foundation has awarded six Small Business Recovery Grants through the Hunterdon Economic Recovery Fund.

The Task Force was established this year as a direct result of the pandemic.

Chris Phelan, President of the Chamber commented, “The Task Force was formed to look at the long-term recovery needs for the business community here in Hunterdon County. This has been an unprecedented year with so many challenges from COVID 19, to the economic loss, that we know we needed to look at developing long-term strategies to help in the recovery through 2021.”

According to Paul Muir, President of the Guild of Clinton and Executive Director of the Red Mill Museum Village, “COVID hit and we began to realize that there was going to be a deep financial impact - we had the very basic need of keeping our stores open.”

Without a dedicated Foundation of their own, the Clinton Guild and other County business organizations partnered with the Hunterdon County Chamber of Commerce Foundation to enable tax deductible donations to be collected and paid out by the Chamber Foundation, Center for Business & Entrepreneurship in the form of a Small Business Recovery Grant Program.

Local business organizations who have partnered in the project include the Clinton Guild, High Bridge Business Association, Flemington Community Partnership, Delaware Rivertown’s Chamber of Commerce, Frenchtown Business Association and the Milford Merchants Association.

The recipients of the first Small Business Recovery Grants are Chameleon Blue, Heartstrings, Beyond Bijoux, Roses In Your Hair, Balic of Clinton, and Rosemarie’s Cucina. The grant criteria focused on retail shops and restaurants with less than 20 employees and no chain affiliations.

“Thanks to the generosity of Clinton Mayor Janice Kovach, Clinton Councilwoman Sherry Dineen, the Town of Clinton Recreation Commission, and many others, $5,000 was raised to start the program, allowing the first six $500 grant checks to be issued,” Muir explained.

Creativity and community entered the mix with fund raisers such as a Drive-in-Movie Night organized by Clinton’s Recreation Commission and sales of a Hunterdon Strong t-shirt designed by a Hunterdon Prep student.

“It was a very successful initial effort,” Muir said. “It meant the world to the businesses who received the grants, and we’re looking to extend the program with continued funding.”

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Continued - Economic Recovery Grants “Our retailers and restaurants are the heart and soul of this area,” added Muir.

“They make up our downtown and it’s important that we help ensure that they’re all still here for us when we come out of this pandemic.”

According the Hunterdon Chamber of Commerce President and CEO, Christopher Phelan, “The Chamber and the Foundation are proud to be here for our business community during this particularly trying time. Thanks to generous donors, a spirit of cooperation, and a genuine concern for our neighbors in the business community, all of the organizations involved in the Economic Recovery Task Force have been able to offer some much-needed assistance to these small businesses.”

To donate to the Hunterdon Economic Recovery Fund and/or for more information about the Hunterdon Economic Recovery Task Force, please contact the Hunterdon County Chamber of Commerce office at 908782-7115, or visit www.hunterdonchamber.org

Chris Phelan, Chamber President, Marie Reres, Owner of Rosemaire's Cucina, Paul Muir, Clinton Guild President and Chef Paul Liscio

Paul Muir, Clinton Guild President, Carol Beder, Owner of Heartstrings and Chris Phelan, Chamber President.

Chris Phelan, Chamber Presiden,t Collen Kuschke, Owner of Chameleon Blue, and Paul Muir, Clinton Guild President.

Paul Muir, Clinton Guild President, Ann Delaney, Owner of Beyond Bijoux, and Chris Phelan, Chamber President.

Chris Phelan, Chamber President, Wendy Maizel, Owner of Balic of Clinton, and Paul Muir, Clinton Guild President.

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Business & Government Committee Update on Courthouse Square We are pleased to provide you with an update as to the status of the all-important “Courthouse Square” redevelopment in Flemington Borough; a project that will certainly be a boom to our County Seat’s economy as well as area businesses.

At the present time, the redeveloper seeks one last site plan approval, which we hope will be secured before the end of this year or early 2021. Should that be the case, the major redevelopment work would begin perhaps as early as April of2021.

In the meantime, a great deal of expense and effort has been provided to shore up the Union Hotel building.

Structural work is being done and the old addition at the back of the Hotel will be taken down in preparation of the next phase.

Jack Cust, the redeveloper, reports that the “front end,” what is viewed from Main Street, will be the focus of the first phase of development. We are extremely excited that a wellknown restaurant operator will take over the first floor of the Hotel. There will be a great new pub located in either the Potting Shed or Bank building. 82 Main St, the white building between the Potting Shed and the Police Station, will be taken down and become the he white building between the Potting Shed and the Police Station, will be taken down and become the “plaza” which will host events throughout the year. The Police Station itself, will remain a Police Station at a rental rate of $1/year, until the Town Council opts to relocate its police force in favor of a tax ratable. “ If the redeveloper is able to start work in the spring as planned, the Main Street “front end” project should be completed by the end of 2021. We are sure that this will be a beautiful site for anyone traveling through town and certainly a huge catalyst for local businesses!

We are pleased to report that the redeveloper is working with one of the finest builders in the state and that all parties are working well with the town’s municipal government - and we wish to thank them for their support.

As the first phase along Main Street is completed, the next phase will begin. Cust and his development team believe using a two-step approach is the quickest path to restoring the economic vitality of Main Street. We will then anticipate more and more exciting developments.

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ShopRite of Hunterdon County Opens Micro-Fulfillment Center Hunterdon Chamber Participates in Ribbon Cutting Ceremony ShopRite of Hunterdon County has announced the opening of its first automated micro-fulfillment center, which is designed to enhance its popular online ShopRite from Home service. Located next-door to the ShopRite of Flemington, the facility will increase capacity for ShopRite from Home orders and enhance the online shopping experience for customers.

The new micro-fulfillment center will assemble a portion of each online order before the order is completed at the store. The technology eases pressure on in-store teams by increasing online shopping capacity and allowing store associates to focus on personally shopping fresh foods such as meat and produce for online orders.

“Interest in online shopping and our ShopRite from Home service has grown extraordinarily over the past several months,” said Joe Colalillo, Chairman & CEO of Wakefern Food Corp. and president of his family-owned company, ShopRite of Hunterdon County.

“This micro-fulfillment center represents an important investment in our stores and the ShopRite from Home service. It allows us to continue to provide our customers with the outstanding quality and service they expect from ShopRite, whether shopping us in-store or online.”

Customers can pick up their ShopRite from Home orders curbside and in-store, or have them home delivered.

The new fulfillment center, located at 272 Highway 202, Flemington, will employ 50 people when fully operational and support ShopRite from Home operations at the ShopRite of Flemington and ShopRite of Clinton, with the eventual onboarding of three more ShopRite of Hunterdon County stores located in Phillipsburg, NJ, and Yardley and Bethlehem, PA. The center was created in partnership with Wakefern Food Corp. and Takeoff Technologies, which has already launched similar microfulfillment centers in Clifton and Egg Harbor, NJ, to service ShopRite stores in other parts of New Jersey.

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SOMERSET PATRIOTS ANNOUNCE NEW YORK YANKEES AFFILIATION AT TD BANK BALLPARK The Somerset Patriots announced the team’s selection as the new Double-A affiliate of the New York Yankees.

“This was a true partnership between the Somerset Patriots and our community and continues to be so,” said Somerset Patriots Chairman Emeritus Steve Kalafer.

“In welcoming the New York Yankees, we have agreed to make this the state-of-the-art minor league facility so that every ballplayer that comes through here will be able to reach their maximum potential.”

“Restructuring our minor league affiliations — especially with the additions of Somerset and Hudson Valley — gives us greater continuity to streamline and improve the development of our minor league system,” said Yankees Senior Vice President and General Manager Brian Cashman.

“The relationships we have formed with all of our teams will allow for a more consistent application of training with similarly aligned facilities in terms of structure, quality and ease of travel. We are confident that these changes will greatly benefit our players and Yankees fans for many years to come.”

Somerset Patriots chairman Emeritus steve Kalafer

New York Yankee Icon Joe Torre

“I can honestly say that I have never looked forward to the baseball season more than I am looking forward to this one,” said Jonathan Kalafer. “I’m looking forward to being excellent partners for the New York Yankees and providing the best possible experience for our fans, their players, and the community.”

Yankees and MLB icons Joe Torre, Willie Randolph and Sparky Lyle helped ring in the change of the franchise from the independent Atlantic League to the affiliated Double-A level.

“I feel George Steinbrenner would have been very proud of this marriage between the Somerset Patriots and the New York Yankees based on the fact that he liked winners,” Torre said. “And this ballclub, this organization, and this ballpark has seen its share of winners.”

Somerset County Business Partnership director of business services daniel fahrer, Partnership president chris edwards and Hunterdon Chamber President Chris Phelan AT the official announcement ceremony

Somerset’s on-field success is evidenced by the six Atlantic League championships and the over 1,500 games won over 22 seasons of play.

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Welcome New Members The Caring Transitions of Lebanon NJ 12 Highland Avenue Long Valley, NJ 07853 http://www.CaringTransitionsLebaonNJ.co m 908-310-7819 Contact: Tony Mauro tmauro@caringtransitions.com

Erhardt Insurance Agency 176 Rt 202 North Ringoes, NJ 08551 agents.allstate.com 908-782-7760 Contact: Woody Erhardt Werhardt@allstate.com

Grow 2 Sell, LLC 37 Lower Kingtown Road Pittstown, NJ 08867 https://www.grow2sell.coach/ 908-892-0305 Contact: abittmann@grow2sell.coach

Asure Payroll 6 Wells Road Flemington, NJ 08822 http://www.asuresoftware.com Contact: Sharon Skibbee sharon.skibbee@asuresoftware.com

CrossCountry Mortgage 12 E Main Street Clinton, NJ 08809 201-92-16334 Contact: Michael Rivara michael.rivara@myccmortgage.com

Merrill Lynch 200 Rt 31; Ste 101 Flemington, NJ 08822 https://fa.ml.com/newjersey/flemington/lzamora/ 908-319-1334 Contact: Luis Zamora lgz.zamora@gmail.com

Red Crab-Juicy Seafood 294 US 202 Flemington, NJ 08822 redcrabseafood.com 908-824-2496 Contact: Monique Spicer mojosvc@gmail.com

Byte Technology Solutions, LLC 99 US 202 Ringoes, NJ 08551 http://www.bytets.com 908-824-2930 Contact: Luis Escobedo info@bytets.com

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Welcome New Members First Choice Aquatics 174 Route 31 Flemington, NJ 08822 http://www.firstchoiceaquatics.com 908-751-5663 Contact: Randy Fisher sales@firstchoiceaquatics.com

Showoff Productions - Entertainment & Event Solutions 1 Deer Trail Flemington, NJ 08822 ShowoffProductions.com 908-246-1609 Contact: Michael Aversano michael@showoffproductions.com

The Gravity Vault 17A Minneakoning Road Flemington, NJ 08822 908-268-9733 Contact: Jason Bogroff jason.bogroff@gravityvault.com

For Information on the Hunterdon County Chamber www.hunterdonchamber.org

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Virtual Leads Exchange- Networking Program north

Wednesday, February 3rd 8:00 AM Virtual

Hosted by: Tom Fitzgerald of Disaster Restoration Services

central

Wednesday, February 17th 8:00 AM Virtual

Hosted by: Victoria Davis of Have Adding Machine Will Travel

HUNTERDON BUSINESS NEWS | NEW YEAR 2021 | Â VOL. 45 NO. 6

Tax Tidbit: Important 2021 Tax Adjustments

Each year, the IRS adjusts for inflation key tax limits and tax brackets, based on the cost of living adjustments (COLA). Here are some important tax adjustments announced for the filing of 2021 tax returns, that become effective on January 1, 2021: Income Tax Changes Tax brackets for all filing statuses. The highest 37% individual tax bracket will now apply at $628,300 for married filing jointly status and $523,600 for unmarried taxpayers.

Standard deduction for all filing statuses. It will be $25,100 for married filing jointly status, $18,000 for head of household filers, and $12,550 for single individuals.

Section 179 expensing will be allowed up to $1,050,000, if the cost of Section 179 property placed in service during the year is under $2,620,000.

Retirement Plan Changes Maximum amount deductible under a defined contribution plan has been increased from $57,000 to $58,000.

The annual compensation limit for plan contribution calculations has been increased from $285,000 to $290,000.

The minimum compensation amount for Simplified Employee Pension’s (SEP) has increased from $600 to $650.

The following retirement plan limits for 2021 remain unchanged from 2020: Maximum amount of elective contributions for Section 401(k), 403(b), and 457(b) retirement plans remains at $19,500. Additional catch-up contributions for individuals age 50 or more in these plans remains at $6,500.

Maximum amount of IRA contributions remains at $6,500, as does $1,000 catch-up contributions.

The compensation limit for plan contributions for “key employees” in top-heavy plans remains at $185,000.

The salary definition of a “highly compensated employee” remains at $130,000.

For further details of these changes, please refer to IRS Notice 2020-79 for retirement plan changes and Rev Proc 2020-45 for all other changes. Contact us with questions or for advice, at BKC, CPAs, PC at (908) 782-7900 or visit www.bkc-cpa.com for more helpful information.

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Hunterdon County Chamber of Commerce Responds to Supporting the Business Community During The COVID-19 Pandemic

The Hunterdon County Chamber of Commerce, in partnership with the Hunterdon County Office of Economic Development, continues working to ensure community residents, businesses and county organizations are being provided with the most recent and accurate information relative to the Coronavirus, COVID-19, as well as tp provide relief and resources to the business community.

It continues to be a very stressful time for everyone that works and/or lives in Hunterdon County. The Hunterdon County Chamber continues to participate in conference calls with State and County Officials, local Mayors and governing bodies, and the leadership of various business organizations, etc., which have given everyone an opportunity to keep the lines of communication open and share the various resources that are available for the Business Community.

You can find many resources and up-to-date information via the Hunterdon County Chamber website at www.hunterdon-chamber.org.

The Chamber continues to post important information pertaining to COVID-19 along with helpful links to access and phone numbers for people to call for additional assistance. The website provides a one-stop for the Hunterdon County Business Community.

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