Enterprise zone

Enterprise zone,

Definition of Enterprise zone:

  1. In general, a tract of land in a depressed area earmarked for setting of factories and other types of business and offering tax incentives, freedom from some regulatory control, and other advantageous terms.

  2. An impoverished area in which incentives such as tax concessions are offered to encourage business investment and provide jobs for the residents.

How to use Enterprise zone in a sentence?

  1. This area was declared an enterprise zone; generous tax breaks were offered and planning controls relaxed to induce businesses to relocate.

Meaning of Enterprise zone & Enterprise zone Definition