Enterprise Zones

Programs at the state and local level that designate certain communities for development, and provide incentives to foster investment in these areas and reduce or remove unnecessary governmental regulatory barriers to economic development. In return, businesses in the area agree to employ a certain percentage of residents of the defined area. Specific incentives may include sales and use tax credits or refunds, business income tax savings, property tax abatements, development fee exceptions, hiring incentives, special loan packages and loan guarantees, low-cost industrial land, infrastructure development agreements, fast-track planning processes and preference points on state contracts.