ENTREPRENEURSHIP

Detailed explanation-1: -Empowerment zones (EZs) are economically distressed communities designated by government for aid-but this aid is intended primarily to lift the communities out of poverty by stimulating business enterprise and creating jobs.

Detailed explanation-2: -In the 1990s, the federal governments designated zones (“empowerment zones” and “enterprise communities”). States have continued to enact new zone programs: Michigan’s Renaissance Zone, Pennsylvania’s Keystone Opportunity Zone, and Minnesota’s JOBZ programs are some of the most recent examples.

Detailed explanation-3: -The Renewal Communities (RCs), Empowerment Zones (EZs) and Enterprise Communities (ECs) are highly distressed urban and rural communities that may be eligible for a combination of grants, tax credits for businesses, bonding authority and other benefits.

Detailed explanation-4: -Enterprise zones are geographic regions that are granted special status by a government in order to encourage development and economic growth. The zones may be granted favorable tax rates, regulatory exemptions, or other incentives to encourage businesses to stay in the area or locate in it.

Detailed explanation-5: -Enterprise Zones (EZs) EZ subsidies often include a variety of corporate income tax credits, property tax abatements, and other tax exemptions and incentives. Zones range in size from hundreds to several thousand acres. Most states have their own versions of enterprise zones.