Enterprise Zone Benefits
Eligible businesses may qualify for:
- Tax credit on the incremental increase in property taxes resulting from eligible real property improvements
- 80% tax credit during Years 1–5
- Credit decreases by 10% annually during Years 6–10
- Credit is awarded to the property owner
Eligible businesses may qualify for:
- $1,000 tax credit for each new qualified employee
- Up to $6,000 over three years for each economically disadvantaged employee
- Credits may be carried forward for up to five years
Enterprise Zone Focus Areas
Businesses located within a designated Focus Area may be eligible for enhanced incentives in addition to standard Enterprise Zone benefits.
Additional Benefits
- 80% real property tax credit for 10 years
- 80% personal property tax credit for 10 years on qualifying new investments
- $1,500 tax credit for each new qualified employee
- Up to $9,000 over three years for each economically disadvantaged employee
- Income tax credits may be carried forward for up to five years
