enterprise zone

noun

Definition of enterprise zone

: an economically depressed area in which business growth is encouraged by the government through tax relief and financial concessions

Examples of enterprise zone in a Sentence

Recent Examples on the Web House Bill 13 would extend the state’s enterprise zone payroll subsidy program for new hires, which is set to expire next year, and allow restaurants, bars and retail trade businesses with 50 or fewer employees to participate. David Jacobs, Washington Examiner, "Louisiana Senate approve 2 more tax benefits for businesses," 29 June 2020 Some advocates, however, are calling on lawmakers to go further by tightening the rules around the enterprise zone agreements themselves. Desperation Town, ProPublica, "We Reported on Corporate Tax Breaks in the Rust Belt. Now Officials Want Tougher Enforcement.," 5 June 2020 Abatement numbers are city estimates, calculated at the outset of each enterprise zone agreement. Desperation Town, ProPublica, "These Companies Got Millions in Tax Breaks to Bring Jobs to Youngstown. They Created Next to None.," 12 May 2020 One district designated the land around Sears as a state enterprise zone, which provided millions of dollars in tax breaks on sales, construction materials and the cost of utilities. At A Great Price, ProPublica, "Sears’ Headquarters Was Supposed to Turn a Sleepy Suburb Into a Boomtown. It Never Happened.," 15 May 2020 Half of the loan and grant program funds come from a pot of $3 million the Portland City Council reallocated last Wednesday from the city’s reserves and the other half from the city’s enterprise zone tax abatement program. oregonlive, "Portland announces coronavirus aid programs for small business, low-income families," 30 Mar. 2020 Rhodes said property tax abatements - largely used as incentives for redevelopment in community reinvestment areas and enterprise zones - are the biggest contributing factor to the increase in tax-exempt properties. Randy Tucker, Cincinnati.com, "'Somebody's gotta pay.' Tax-exempt property climbing in county, leaving others to pay taxes," 30 Jan. 2020 Oregon used to limit the number of enterprise zones – the agreements that exempt businesses from local property taxes – to just 30 statewide. Mike Rogoway, oregonlive, "Oregon law puts small towns in a bind when big tech demands huge tax breaks," 25 Oct. 2019 Businesses in the enterprise zone are given property tax credits for 10 years based on capital improvements and job creation. Erika Butler, baltimoresun.com, "Three new Aberdeen businesses stand to get nearly $814,000 in tax credits," 30 Oct. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'enterprise zone.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of enterprise zone

1978, in the meaning defined above

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The first known use of enterprise zone was in 1978

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Last Updated

3 Jul 2020

Cite this Entry

“Enterprise zone.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/enterprise%20zone. Accessed 13 Jul. 2020.

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