Selecting from a pool of 35 applicants, HUD chose the following communities, bringing the total number of Empowerment Zones to 30: Pulaski County, AR; Fresno, CA.; Jacksonville, FL; Syracuse, NY; Yonkers, NY; Oklahoma City, OK; and San Antonio, TX. The government funds will provide tax credits, tax deductions and other incentives to help spur economic development. These breaks apply not only to those who take on new hires, but also to businesses hoping to finance property, and to owners of new or rehabilitated rental housing in these areas. HUD Secretary Mel Martinez says, "these tax incentives couldn't come at a better time."
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.