HUD announced Tucson is the nation's newest Empowerment Zone, eligible to share in an estimated $17 billion in tax incentives to stimulate job growth, promote economic development and create affordable housing opportunities.
Tucson will receive regulatory relief and tax breaks to help local businesses provide more jobs and promote community revitalization. HUD recently announced seven other Empowerment Zones in Pulaski County, Arkansas; Fresno, California; Jacksonville, Florida; Syracuse, New York; Yonkers, New York; Oklahoma City; and, San Antonio. Authorized by the 2000 Community Renewal Tax Relief Act, the new Empowerment Zones will use the power of public and private partnerships to build a framework of economic revitalization in areas that experience high unemployment and shortages of affordable housing.
Thanks to Abhijeet Chavan
FULL STORY: HUD No. 02-024
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