|
State |
Description |
Benefits |
Filing
Fees |
|
Alabama |
Designed
to encourage economic growth in depressed areas. |
Job Tax
credit.
Income Tax
or Franchise Tax credit for new investment in
the Zone.
Sales &
Use Tax exemptions.
Etc.
|
|
|
Alaska |
Business
Enterprise Program (BEP) provides employment
opportunities to people who experience blindness
and other severe disabilities by establishing
businesses such as food service, gift shops and
vending machines, which these individuals
manage. |
|
|
|
Arizona |
The
primary goal of the Arizona EZ program is to
improve the economies of areas in the state with
high poverty and/or unemployment rates. |
Income Tax
Credits.
Property
Tax reduction.
Etc. |
|
|
Arkansas |
|
|
|
|
California |
Promotes economic development and employment
opportunities in designated enterprise zones, by
offering bidding preferences in specified State
contracts. |
Receive up to a 5 percent bid preference on
service and commodity contracts valued at more
than $100,000 if the business work site is
located in an enterprise zone |
|
|
Colorado |
Encourages
businesses to locate and expand in designated
economically distressed areas of the state. |
Investment
Tax credit.
New Jobs
Tax credit.
R&D Tax
credit.
Job
training tax credit.
Etc. |
|
|
Connecticut
|
A
designated area for development in a Targeted
Investment Community. |
Local
property tax abatement.
Up to 50%
credit in Corporate income tax |
|
|
Delaware |
|
|
|
|
Florida |
A specific
geographic area targeted for economic
revitalizing. Enterprise Zones encourage
economic growth and investment in distressed
areas by offering tax advantages and incentives
to businesses locating within the zone
boundaries. |
Job Tax
Credit.
Business
Equipment Sales Tax Refund.
Property
Tax Credit.
Utility
Tax Credit.
Etc. |
|
|
Georgia |
|
Job Tax
Credit.
Property
Tax exemption.
Abatement
or reduction in other taxes or fees.
Etc. |
|
|
Hawaii |
The
Enterprise Zones (EZ) partnership is a joint
state-county effort intended to stimulate—via
tax and other incentives—certain types of
business activity, job preservation, and job
creation in areas where they are most
appropriate or most needed. |
Excise Tax
exemption.
State
income tax reduction.
Unemployment Insurance tax annual premium
reduction.
Etc. |
|
|
Idaho |
So far Idaho's
Enterprise zone program has been focused on
energy. In particular Renewable Energy
where Municipalities across the state were
awarded funds from the Renewable Energy
Enterprise Zone (REEZ) Grant to complete
projects. |
|
|
|
Illinois |
Designed
to stimulate economic growth and neighborhood
revitalization in economically depressed areas
of the state. |
Exemption
on Retailers occupation tax
Investment
tax credit
Enterprise
Zone job tax credit
Exemption
on State utility taxes
Telecom
Excise tax relief
|
|
|
Indiana |
Indiana has many
Enterprise Zones that provides tax incentives
for businesses to locate in those areas.
The
Indian Business Review
developed an indepth analysis of the Indiana
Enterprise Zone program. |
|
|
|
Iowa |
Designed
to stimulate development by targeting
economically distressed areas in Iowa. The
goal of the program is to revitalize these areas
and make them competitive with other locations
throughout the state.
|
Local property tax exemption
Funding of new employee training
Contractors and Sub-contractors
tax refund
Sales and use taxes paid on
racks, shelving, and conveyor equipment.
An investment tax credit of up to
a maximum of 10% of the qualifying investment,
amortized over 5 years.
Research activity refund. |
|
|
Kentucky |
Created to bring new or renewed
development to targeted, economically depressed
areas.
|
Tax
exemption on the following:
Building materials used in remodeling,
rehabilitation, or new construction
New and used machinery and equipment
purchased, leased or rented
Commercial vehicles purchased
Other vehicles which are not defined as
commercial vehicles purchased and used by a
qualified business solely for business purposes
Tax Credit
for hiring employees
|
|
|
Louisiana |
EZs are
areas with high unemployment, low income or a
high percentage of residents receiving some form
of public assistance. The Enterprise Zone (EZ)
Program is a JOBS incentive program that
provides Louisiana Income and Franchise tax
credits to a business hiring a minimum number of
net new employees.
|
Job Tax
credit.
Sales &
Use Tax rebate.
Investment
Tax credit.
|
Starts at
$100 |
|
Maine |
The Pine Tree Zone program was introduced by the
Governor in early 2003 and enacted by a
two-thirds majority vote of the Legislature last
year. Pine Tree Zones use a combination of tax
incentives to spur economic development in
targeted areas of the state where unemployment
is relatively high, and wages are relatively
low. |
Corporate
Income Tax reimbursement.
Insurance
Premium reimbursement.
Equipment
tax reimbursement.
Etc. |
|
|
Maryland |
Businesses locating in a
Maryland Enterprise Zone may be eligible for
income tax and real property tax credits in
return for job creation and investments.
Businesses located in one of two focus areas are
also be eligible for personal property tax
credits. |
Income tax credits
Property Tax Credits |
|
|
Massachusetts |
To stimulate business growth and
foster job creation, the state has created the
Economic Development Incentive Program (EDIP),
designed to attract and retain businesses in
specific economic target areas. |
Property
Tax reduction.
Etc.
|
|
|
Michigan |
Through
the provisions of Public Act 120 of 1961, cities
may create a Business Improvement District
(BID), Principal Shopping District (PSD) or
Business Improvement Zone (BIZ) to promote
economic development. A BID/PSD allows a city to
collect revenues, levy special assessments, and
issue bonds in order to address the maintenance,
security and operation of that district. |
Tax
abatement.
|
|
|
Minnesota |
The
Border-Cities Enterprise Zone Program provides
business tax credits to qualifying businesses
that are the source of investment, development,
and job creation or retention in the
Border-Cities Enterprise Zone cities of
Breckenridge, Dilworth, East Grand Forks,
Moorhead, and Ortonville. |
Property
tax credits.
Debt
financing credit on new construction.
sales tax
credit on construction equipment and materials.
New or
existing employee credits. |
|
|
Mississippi |
The Gulf Opportunity Zone Act of 2005 is federal
legislation that was passed by Congress and
signed into law by President Bush in December of
2005. This legislation provides for Federal
Tax Incentives to areas affected by Hurricanes
Katrina, Rita, and Wilma.
|
Enhanced
section 179 expensing for Small Businesses
Extended
Net Operating loss carry back.
50%
expensing of demolition costs.
Job
creation tax credit.
Etc. |
|
|
Missouri |
The
Enhanced Enterprise Zone Program is a
discretionary program offering state tax credits
to Enhanced Business Enterprises. |
Tax
credits. |
|
|
Montana |
Montana calls their
system Empowerment Zones instead of Enterprise
Zones. Their system provides tax credit
for businesses operating in certain areas. |
Income tax credits
Insurance premium tax
credits |
|
|
Nebraska
|
The Nebraska Advantage Act , LB
312, is a new economic development incentive
that makes Nebraska more competitive for
business expansions or locations, and
strengthens Nebraska’s economy. |
Job Tax
Credit.
Tax Credit
for Research and Development.
Refund on
investment in targeted communities.
State and
local tax exemptions.
Etc. |
|
|
New Hampshire
|
|
Tax Credit
Property
Tax Relief.
Job
Grants.
Etc. |
|
|
New Jersey |
The UEZ Program was created to foster an
economic climate that revitalizes designated
urban communities and stimulates their growth by
encouraging businesses to develop and create
private sector jobs through public and private
investment. |
Subsidized
unemployment insurance costs.
Corporate
Business Tax credit.
Job Tax
Credit.
Sales Tax
exemption on utilities.
Etc. |
|
|
New Mexico
|
The Economic Development Department promotes
research and development, helps finance job
training, breathes more life into downtowns,
recruits new businesses to the state. |
Job
Training Incentives.
New Job
Tax Credit.
Property
Tax Exemption.
Rural Job
Tax Credit. |
|
|
New York |
Empire
Zones (formerly called Economic Development
Zones) are geographically defined areas where
businesses have access to vacant land, existing
industrial and commercial infrastructure, a
skilled workforce and abundant resources such as
power and water supplies. |
Sales Tax
exemptions.
Real
Estate Property Tax reduction.
Wage tax
credit.
New Job
creation tax credit.
New
Business Tax refund.
Etc. |
|
|
Nevada |
|
|
|
|
North Carolina |
Designed
to bring economic development by attracting new
companies to pockets of poverty in
municipalities in North Carolina that have not
shared in the economic gains of the state as a
whole. |
New Job
Tax credit.
Job
Training Credit.
New
Equipment credit.
|
|
|
North Dakota |
The West Fargo Renaissance Zone was created in
2000 to spur private sector reinvestment in
downtown and increase the overall vitality of
the once central business district.
|
Tax
Credits. |
|
|
Ohio |
Enterprise
Zones are designated areas of land in which
businesses can receive tax incentives in the
form of tax exemptions on eligible new
investments.
|
Exemption
of real and/or personal property assessed values
of up to 75% for up to 10 years
|
$750
filing fee
$500 -
$2,500 annual monitoring fee |
|
Oklahoma |
Oklahoma
City's Empowerment Zone is a federally
designated area created to promote
public-private collaboration and stimulate job
growth. It's a pool of tax breaks and
incentives for businesses and employees in the
Zone. |
Wage
Credits.
Employee
Tax credits.
Equipment
Tax reduction.
Capital
Gains Tax reduction. |
|
|
Oregon |
Areas in
the state that need particular attention of
government to help attract private business
investment into those areas and to help resident
businesses to reinvest and grow. |
Exemption
from property tax on new facility
Gross
payroll tax liability relief.
Etc. |
|
|
Pennsylvania |
The
purpose of an Enterprise Zone is to promote job
growth and to help municipalities take advantage
of business expansion opportunities when they
arise. |
Low
interest rate loans.
Tax credit
for property improvements.
Preferential when bidding on State contracts.
Etc. |
|
|
Rhode Island |
The
Enterprise Zone Program is designed to offer tax
incentives to businesses that expand their
workforce at facilities located in one of the
ten state enterprise zones.
|
The tax
credit is equal to 50% of the annual wages paid
to new employees to a maximum of $2,500 per
employee.
Resident
Business Owners Reduce Federally Adjusted Income
by $50,000
|
|
|
South Carolina |
One of the requirements
for a business to qualify for the enterprise
zone benefits is that it must enter into a
revitalization agreement approved by the
Council. The Council and the business will
negotiate the amount of enterprise zone benefits
to which the business will be entitled. |
Property tax credits
Job tax credits etc. |
|
|
South Dakota |
The
Empowerment Zones/Enterprise Communities Program
is a federal, state, local government
partnership for stimulating economic growth and
social development--in distressed urban
neighborhoods and rural areas. |
|
|
|
Tennessee |
|
|
|
|
Texas |
The Texas Enterprise Zone Program is an economic
development tool for local communities to
partner with the State of Texas to promote job
creation and capital investment in economically
distressed areas of the state. |
Sales &
Use Tax refund.
|
|
|
Utah |
Comprises
an area identified by local elected and economic
development officials and designated by the
state |
Tax
Credits:
$750 for
hiring full time personnel
$500 if
the new position pays 125% of the county average
wage
$750 if
the new business adds value to the agricultural
commodity
$200 if
the employer pays 50% insurance premium for 2
years for new employees.
etc. |
|
|
Vermont |
|
|
|
|
Virginia
|
Assists business development and expansion in
specially targeted, economically depressed
areas. |
Job
creation grants.
Real
Property investment grants. |
|
|
West Virginia |
The Empowerment Zone and Enterprise Community program is designed
to afford communities real opportunities for
growth and revitalization. |
|
|
|
Washington |
|
|
|
|
Wisconsin |
The
Enterprise Development Zone (EDZ) program
provides tax incentives to new or expanding
businesses whose projects will affect distressed
areas. |
New
employee job credit.
Environmental remediation credit.
|
|
|
Wyoming |
|
|
|
