The Enhanced Enterprise Zone program offers state income tax credits and local property tax abatement to eligible businesses. Eligibility is determined by NAICS codes, job creation, and capital investment.
Eligible Businesses by NAICS Codes
22 Utilities
237 Heavy and civil engineering construction
238 Specialty trade contractors
31-33 Manufacturing
423 Merchant wholesalers, durable goods
48-49 Transportation and warehousing
51 Information
541710 Research and development in the physical, engineering, and life sciences
621 Abulatory health care services
State Income Tax Credit Benefits and Criteria
Property Tax Abatement Benefits
Eligible businesses shall be granted a minimum of 50% abatement of property taxes for a minimum of 10 years on improvements made to real property. |
