Enterprise Zones are designated areas of land in which businesses can receive tax incentives in the form of tax exemptions on eligible new investments. Enterprise Zones are not part of the traditional zoning program — which limits the use of land — instead they allow local officials to negotiate with businesses to encourage new business investment in the zone. Enterprise Zones serve as an additional economic development tool for communities attempting to retain and expand their economic base. Because of the far-reaching effects of tax incentives, the Enterprise Zone should be used as a tool of the last resort. A community should attempt to satisfy the business’s needs through other assistance programs prior to considering tax incentives. In all cases, Enterprise Zone Agreements should be negotiated cautiously.
Ohio Enterprise Zone Program (EZ)