ENTREPRENEURSHIP

Detailed explanation-1: -Enterprise zones bring a wealth of opportunities for small businesses, such as tax reliefs, business rates discounts and easier access to planning permission.

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: -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.

Detailed explanation-4: -The primary purpose of an Enterprise Zone Program is to “stimulate economic growth and neighborhood revitalization” by offering state and local tax incentives to companies expanding or relocating within depressed areas.