Enterprise Zone

Are You in the Zone?

The goal of the Enterprise Zone is to improve the economy of areas with high poverty or unemployment rates. The program has two separate opportunities for providing incentives to companies that create jobs and do business within an Enterprise Zone: Income or Premium Tax Credit, and Property Reclassification Tax Credit.

    Income or Premium Tax Credit:
    Any company or insurer located within the Enterprise Zone, with less than 10% of their total sales classified as retail at the zone location, is eligible. The company must create new jobs that:

Are full-time and permanent.

Pay at least the average enterprise zone wage for the County.

Pay at least 50% of health insurance costs for the employee. (A company may be self-insured if properly documented).

Perform work primarily in the zone location.

Have 35% of the employees for whom the credit is taken, live within the zone on the date of hire.

Property Reclassification Tax Credit:
Manufacturers and Commercial Printers are eligible for this credit. A company must:

Invest $2 million in fixed assets aggregated from 1/1/2001.
Be a woman-owned, minority-owned or small, and independently owned and operated. "Small is defined as fewer than 100 employees or less than $4 million total gross annual receipts for all locations. "Independently owned and operated" is defined as not more than 50% owned by another entity.

For assistance with Business Development Resources, contact:
Lee J. Smith
Sr. Vice President, Business Development
520.243.1909 or lee.smith@treoaz.org