Enterprise Zone

In exchange for locating or expanding in an enterprise zone, eligible (generally nonretail) business firms receive total exemption from the property taxes normally assessed on new plant and equipment for three to five years. Longer-term tax incentives may be offered in certain zones under a 1997 Law. An enterprise zone is sponsored by local city/county governments and typically serves as a focal point for local development efforts and incentives. Seventy-four cities in 31 counties currently use enterprise zones to create better economic opportunities.

Read more about tax incentives in an enterprise zone.