The program, which went into effect in 1997, created 20virtually tax-freezones: 10 urban, seven rural and three formermilitary installations.Business and residents located in aRenaissance Zone do not pay SingleBusiness Tax, personal or realproperty taxes, state education tax or localincome tax.
Since the implementation of this program, 158 projects haveoccurred,creating a private investment of more than $157million.
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