Enterprise Zones
CREDITS & INCENTIVES
Fuel Growth and Revitalize Communities with Powerful State Incentives
What are Enterprise Zones?
Enterprise Zones (EZs) are specially designated geographical areas where state and local governments offer significant monetary and tax incentives to encourage businesses to invest, expand, and create jobs. Established to stimulate economic growth and revitalize distressed communities, these programs provide a powerful tool for businesses, especially those in the construction and real estate industries.
By lowering the financial barriers to investment, EZ programs make new construction, property rehabilitation, and business expansion projects more feasible and profitable. This creates a win-win scenario, offering your business a distinct competitive advantage while contributing to lasting community development.
A point of distinction to be aware of: State-level Enterprise Zone programs are distinct from the federal Opportunity Zone program. While both aim to spur investment in economically distressed areas, their incentives, requirements, and application processes are entirely different.
Contact Us
Key Benefits of Enterprise Zone Programs
Investing in an Enterprise Zone can yield substantial financial returns and long-term strategic advantages for your business, like job creation grants, real property investment grants, state and local tax incentives, and community revitalization. Through these benefits, your business could qualify for cash grants by creating high-value jobs or investing in and improving qualifying commercial, industrial, or mixed-use properties. Some state programs also offer income tax and property tax credits for capital improvements.
Meet the Team
Jennifer French
CPA
Partner, Construction Team Leader
Newport News
Shawn Middleton
CPA
Partner
Newport News
