July 30, 2020

An enterprise zone is a designated geography in which taxes are abated as of right for a period of 7 years to encourage new development and business growth in underutilized areas. Urban enterprise zone policies generally offer tax concessions, infrastructure incentives, and reduced regulations to attract investments and private companies into the zones. Urban enterprise zones are intended to encourage development in deprived neighborhoods through tax and regulatory relief to entrepreneurs and investors who launch businesses or develop in the area.