The Enterprise Zone Act was significantly amended in 2012 and under the amended act; all existing zones will expire in 2015 and will not be automatically extended. Counties and municipalities must now compete for a designation as a new Enterprise Zone.
Enterprise Zones are intended to stimulate business and industrial growth and retention in economically distressed communities. Some states have only a few enterprise zones, while others have hundreds. Still other states, such as Kansas, have designated the entire state as an enterprise zone. Core benefits of enterprise zones are tax credits for capital investment, research and development, new jobs, and hiring local workers. The exact rules and details for these incentive packages vary.
Other incentives linked to enterprise zones are state loans, property tax credits, investment tax credits, tax increment financing, improvements to public infrastructure and services, venture capital funding, and income tax credits. When added together, tax credits from enterprise zones can total millions of dollars every year over a given time period. This aggregate tax break makes a huge difference to business startups and expansions, which often require large capitalization expenditures that would otherwise be difficult to afford.
We have provided a link below to the Enterprise Zone Proposal by Moran Economic Development that was accepted by Clinton County, the City of Carlyle, and several other surrounding municipalities. We are joining together with these cities to create a one zone application. Our application is due by December of 2014 and the Enterprise Zone Board will have until December of 2015 to let us know if we have been awarded a Zone. If we are awarded a Zone it will become effective January of 2016.
For any questions contact the City Administrator at 594-2468.
City of Carlyle Enterprise Zone Links
Carlyle Preliminary Enterprise Zone Area
Corporate Limits of Clinton County Municipalities
Moran Proposal for Clinton County
