Urban enterprise zone

An urban enterprise zone is an area in which policies to encourage economic growth and development are implemented.[1] Urban enterprise zone policies generally offer tax concessions, infrastructure incentives, and reduced regulations to attract investments and private companies into the zones. They are a type of special economic zone where companies can locate free of certain local, state, and federal taxes and restrictions. Urban enterprise zones are intended to encourage development in deprived neighborhoods through tax and regulatory relief to entrepreneurs and investors who launch businesses in the area.[2][3]

They are common in the United Kingdom and the United States. In other countries, regions with similar economic policies are often referred as export-procession zones, tax and duty-free zones, and special economic zones (SEZs) most predominantly present in China and India.[4]

  1. ^ Ted Robert Gurr; Desmond S. King (1987). The State and the City. University of Chicago Press. ISBN 978-0-226-31091-6.
  2. ^ O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. Upper Saddle River, New Jersey: Pearson Prentice Hall. p. 350. ISBN 978-0-13-063085-8.
  3. ^ "Zone Definition", Special Economic Zone: Performance, Lessons Learned, and Implication for Zone Development, Washington DC: World Bank, 2008, pp. 9–11
  4. ^ Derek Gregory, Edited by: Johnston, R.J., Gregory, D., Pratt, G. and Watts, M., The Dictionary of Human Geography, Oxford: Blackwell, 2000, 195