Incentives for EZ businesses include:
Wage Credits: Tax credits of up to $3,000 for
each employeenewly hired or already on the payrollwho lives and
works in the EZ.
Bond Financing: Tax-exempt facility bonds to finance property, equipment and site development.
Tax Deductions: Increased expensing deductionsup to $35,000 for depreciable assets acquired this year.
The U.S. Department of Housing and Urban Development Empowerment Zone program was established to generate economic development in urban areas.
Empowerment Zone Map
updated March, 2003
Adobe Acrobat File, 146 KB
HUD Empowerment Zone Guide
Adobe Acrobat file, 1.79 MB
Incentive Guide for Small Businesses
Adobe Acrobat file, 868 KB
IRS Publication 954:
Tax Incentives for Empowerment Zones
and Other Distressed Communities
Adobe Acrobat file, 115 KB
Legislative Updates December 2004: