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Empowerment zone. Within United States federal legislation, an empowerment zone is an economically distressed community eligible to receive tax incentives and grants from the United States federal government under the Empowerment Zones and Enterprise Communities Act of 1993. [1]
Three primary means were used: renewal communities, empowerment zones, and community development entities. [2] The bill also created the New Markets Tax Credit Program, which has been renewed several times and is still in effect. [3] One provision of the Community Renewal Tax Relief Act of 2000 was the creation of 40 "renewal communities". [2]
An Opportunity Zone is a designation and investment program created by the Tax Cuts and Jobs Act of 2017 allowing for certain investments in lower income areas to have tax advantages. The purpose of this program is to put capital to work that would otherwise be locked up due to the asset holder's unwillingness to trigger a capital gains tax.
HUBZone. HUBZone is a United States Small Business Administration (SBA) program for small companies that operate and employ people in Historically Under-utilized Business Zones (HUBZones). The HUBZone program was created in response to the HUBZone Empowerment Act created by the US Congress in 1998. [1] Based on the Act, small businesses will be ...
Today the phrase “women’s empowerment” has eclipsed “community empowerment” and “employee empowerment.” It, too, came to prominence in the 1980s and 1990s. It, too, came to ...
Empowerment is the degree of autonomy and self-determination in people and in communities. This enables them to represent their interests in a responsible and self-determined way, acting on their own authority. It is the process of becoming stronger and more confident, especially in controlling one's life and claiming one's rights.
An urban enterprise zone is an area in which policies to encourage economic growth and development are implemented. [1] Urban enterprise zone policies generally offer tax concessions, infrastructure incentives, and reduced regulations to attract investments and private companies into the zones. They are a type of special economic zone where ...
The Atlanta Empowerment Zone was established in November 1994 as a 10-year, $250 million federal program to revitalize Atlanta's 34 poorest neighborhoods. Scathing reports from both the U.S. Department of Housing and Urban Development and the Georgia Department of Community Affairs revealed corruption, waste, bureaucratic incompetence, and interference by mayor Bill Campbell.