In The Zone

Just The Facts

  • The empowerment zone program is slated to operate for 10 years.
  • Eight urban areas have been designated as empowerment zones: Atlanta, Baltimore, Chicago, Cleveland, Detroit, Los Angeles (as of January), New York City and Philadelphia-Camden, New Jersey. These zones received wage tax credit, $100 million in Social Services Block Grant funds, increased Section 179 deductions and Tax-Exempt Bond Financing.
  • Three rural areas were designated: Mid Delta, Kentucky Highlands and Rio Grande Valley. They received wage tax credit, $40 million in Social Services Block Grant funds, and increased Section 179 deductions.
  • Services for zone businesses include $500 million in loan guarantees for such cities as Boston, Cleveland, Houston, Los Angeles and Oakland, as well as a variety of technical assistance programs.

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This article was originally published in the May 1998 print edition of Entrepreneur with the headline: In The Zone.

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