Initially, these revitalization programs offered a mix of grants and tax incentives for community and economic development, but later rounds offered primarily tax incentives for business development. Some additional data on EZ/EC/RC ...
Author: William B. Shear
Publisher: DIANE Publishing
Beginning in 1993 and in subsequent legislation in 1997, 1999, and 2000, Congress established the Empowerment Zone (EZ), Enterprise Community (EC), and Renewal Community (RC) programs to reduce unemployment and generate economic growth in selected Census tracts. Urban and rural communities received grants, tax incentives, or a combination of both to stimulate community development and business activity. A report to Congress was mandated on the EZ, EC, and RC programs and their effect on poverty, unemployment, and economic growth in designated program areas. The first two mandated reports were issued in 2004 and 2006. This report makes available info. provided in a briefing to Congress on Jan. 29, 2010. Illus.