463:, press release dated December 27, 2017. Accessed January 8, 2018. "The New Jersey Division of Taxation is reminding business owners that the State Sales and Use Tax rate will be reduced to 6.625% on Jan. 1, 2018... Rates for State Sales Tax in Urban Enterprise Zones also will change on Jan. 1, 2018. The rate in a designated UEZ will be 50 percent of the Sales Tax rate, or 3.3125 percent. The previous UEZ rate was 3.4375 percent."
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effects" that might be stimulating or depressing regional economic growth and development.) The study found that the
Evansville zone did provide significant employment growth that could not be accounted for by external effects or the industrial composition of the zone itself. The zone was also found to be extremely cost-effective in its job creation.
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Urban revitalisation heavily influenced enterprise zones in the USA. Urban revitalisation consisted of innovative partnerships between different government levels and the private sector. The concept mainly consisted of accepting the end of the industrial-led economy and transforming the role of the
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The United States experienced a transition similar to the UK in the 1970s. The industrial regions of New
England, the northern Midwest and Mid-Atlantic were facing economic restructuring, overseas competition and profit loss. During the 1970s, it is estimated that 38 million jobs were lost due
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As policy mechanism, enterprise zones are proposed to stimulate economic activity in decaying areas. When compared with other areas, these areas have higher unemployment rates, lower income level, lower employment opportunities, vacant land, and decayed building and infrastructures. Enterprise zone
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rate (from 6.625% to 3.3125% as of
January 1, 2018) and hiring incentives, are designed to reinvigorate the business climate within the Zone. These incentives have led to the construction of numerous malls and big-box retailers in parts of the development zone located near major highways, such as
49:
The 1970s witnessed a shift in city planning, leaving behind post-war
Keynesian policies and entering an era of growth machine. Urban planning had thrived during the 1950s and 1960s. Planning was fostered by a period of constant economic and physical growth. The economic recession of the 1970s and
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enterprise zone mostly benefited large corporations rather than small entrepreneurs and did not benefit local neighborhoods at all, even though community re-development was a goal. More importantly, in a book that reviewed most major enterprise zone studies done in the 1980s and 1990s as well as
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sought inspiration in the 1970s) can transition successfully into sustainable economic growth as the zone is wound down, or whether by special pleading or inertia, breaks and incentives remain in place to stop 'capital flight'. A persistence of low-wage jobs, rapid turnover of the firms, little
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to determine whether the zone was having a measurable impact on local economic development. (The choice to use the shift-share analysis method with the larger metropolitan area as the reference region allowed Rubin & Wilder to go a step further than previous studies and exclude "external
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and the assumption that employers will respond positively to tax incentives and reduced government regulation. The enterprise zone philosophy suggests that by encouraging the production of goods, investment will improve; therefore, the supply of goods and services and the providing of job
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challenged the theory of
Keynesianism which consists of a mixed economy in the private sector accompanied by government interventions and regulations. City planning stopped regulating and controlling growth, and started promoting that growth by any possible means: through tax concession,
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is an area in which policies to encourage economic growth and development are implemented. Urban enterprise zone policies generally offer tax concessions, infrastructure incentives, and reduced regulations to attract investments and private companies into the zones. They are a type of
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where companies can locate free of certain local, state, and federal taxes and restrictions. Urban enterprise zones are intended to encourage development in deprived neighborhoods through tax and regulatory relief to entrepreneurs and investors who launch businesses in the area.
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In the UK, a government-commissioned evaluation in 1987 found that from 1981–86, the enterprise zones had cost nearly £300 million but 2,800 firms were established in them, employing over 63,000 people. Taking local transfers into account (a notable example being the
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They are common in the United
Kingdom and the United States. In other countries, regions with similar economic policies are often referred as export-procession zones, tax and duty-free zones, and special economic zones (SEZs) most predominantly present in China and India.
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was in fact creation of second nearby special zone; mainly populated with financial companies, that hundreds of years ago would have chosen the City, but now instead chosen
Docklands, while the City is slowly converting to tourist heritage park (one of examples is the
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to the relocations of industries, closure, and cutbacks, and as much as 35 million were located in the industrial regions. For the regeneration, it took urban planners, politicians and economists to challenge
Keynesianism and introduce Enterprise zones.
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1980s was compelled to transform the nature of urban planning. This shift was especially marked in the UK, when the strong capitalist economy shifted following the great recession. Britain lost its core economic motive: manufacturers.
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inner city to a service sector economy. This revitalisation of the inner city would attract young professionals to the decaying
Victorian downtown neighborhoods. This would create a new economic base to the city.
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deregulation, or infrastructure incentives. By encouraging urban growth, city authorities were expecting to boost the economy, reduce unemployment rates, and the progression of decay of its core cities.
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was for years a special region in London, being one of the early examples of it. Despite this, after London lost its port status because of technology and rising prices, the created revival vision
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designate part of a city, usually about 30%, as a UEZ. UEZs are usually located in the industrial and/or commercial portions of a city, within a continuous boundary. A 50% reduction in the general
219:, during the working week which is not endorsed by private-public owning of Docklands, which also approves new buildings containing itself lot of working places and vehicle parking spaces.
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conducting its own original work, Peters and Fisher (2002) consider most state and local enterprise zone programs to have come up short in achieving their goals and objectives.
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Lambert, Thomas E. and Paul A. Coomes. 2001. "An
Evaluation of the Effectiveness of the Louisville Enterprise Zone Program", Economic Development Quarterly, 15(2): 168-180.
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Bluestone, B. and Harrison, B. 1982: the desindustrialisation of America, Plant Closure, Community Abandonment, and the dismantling of Basic Industry. New York: Basic Books.
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The enterprise zone concept evolved from a combination of theories, policies and social forces. The philosophy is most closely associated with the theory of
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242:'s first five enterprise zones. A study published in 1989 by Barry M. Rubin and Margaret G. Wilder examined the 2.1 mi. area using the technique of
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The general critique of enterprise zones is whether the system of tax breaks and easing of planning regulations (as has occurred in Asia, notably in
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Hirasuna, D. & J. Michael. Enterprise Zones: A Review of the Economic Theory and Empirical Evidence. House Research Department. January 2005
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Derek Gregory, Edited by: Johnston, R.J., Gregory, D., Pratt, G. and Watts, M., The Dictionary of Human Geography, Oxford: Blackwell, 2000, 195
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Peters, Alan H. and Peter S. Fisher. 2002. State Enterprise Zone Programs: Have They Worked? Kalamazoo, Michigan: W.E. Upjohn Institute
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moved away, and it was converted to the tourist-luxury shopping centre), and for example car owners and parking spaces are limited, with
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Overall, the consensus on the effectiveness of enterprise zones in the US is mixed at best. Lambert and Coomes (2001) found that the
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Peter Hall. 1991. The British Enterprise Zones. in Roy E. Green (ed). Enterprise Zones: New Directions in Economic Development. Sage.
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457:"NJ Division of Taxation Reminds Consumers & Business Owners That Sales Tax Rate Will Change to 6.625% in the New Year"
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Peter Hall, "The City of Enterprise: Planning turned Upside Down: Baltimore, Hong Kong, London, 1975–2000." in
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103:, for example, a municipality may request that the New Jersey Urban Enterprise Zone Authority, part of the
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programs provide the incentives to businesses to overcome economic obstacles that hinder economic growth.
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Rubin, Barry M., Margaret G. Wilder, "Urban Enterprise Zones: Employment Impacts and Fiscal Incentives."
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inward investment, or persistent subsidy to enterprise, would not indicate a successful transition.
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Special Economic Zone: Performance, Lessons Learned, and Implication for Zone Development
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designated 24 new enterprise zones in England, and then extended the list to 44 in 2015.
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Freedom Planned: Enterprise Zones and Urban Non-Planning in Post-War Britain
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EMPOWERMENT ZONES, ENTERPRISE COMMUNITIES, BLACK BUSINESS, AND UNEMPLOYMENT
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In an urban context, cities had to create growth at any cost. Due to the
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Enterprise Zones: A Review of the Economic Theory and Empirical Evidence
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316:. Upper Saddle River, New Jersey: Pearson Prentice Hall. p. 350.
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Enterprise Zones: Historical Perspective and General Background
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situation is example of dual long-lasting special zones. The
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Washington University Journal of Urban and Contemporary Law
402:"NJ's UEZ program faces scrutiny from $ 160,000 consultant"
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Enterprise Zone Program was established in 1984 as one of
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344:, Washington DC: World Bank, 2008, pp. 9–11
120:Outlet Center in the largely industrial city of
554:Journal of the American Planning Association
372:, 3rd ed. Oxford: Blackwell Publishing, 2002
187:. However, a notable success has been the
623:Race, Entrepreneurship, and the Inner City
445:New Jersey Department of Community Affairs
441:New Jersey Urban Enterprise Zone Locations
105:New Jersey Department of Community Affairs
505:"City Mayors: City of London Corporation"
224:Conservative-Lib Dem coalition government
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181:urban development corporations
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487:"History of the Square Mile"
474:Urban and Regional Planning.
57:of the economy, the British
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519:"London's very square mile"
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533:"The New Enterprise Zones"
183:as their main vehicle for
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59:Centre for Policy Studies
209:Stock Exchange Building
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644:Special economic zones
281:The State and the City
625:by John Sibley Butler
213:London Stock Exchange
76:supply side economics
34:special economic zone
29:urban enterprise zone
252:Louisville, Kentucky
244:shift-share analysis
600:Wetherell, S. 2016
310:Sheffrin, Steven M.
236:Evansville, Indiana
132:Critical assessment
126:New Jersey Turnpike
63:Heritage Foundation
370:Cities of Tomorrow
306:O'Sullivan, Arthur
521:. 5 January 1996.
338:"Zone Definition"
323:978-0-13-063085-8
291:978-0-226-31091-6
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429:New Jersey
411:2014-11-13
406:The Record
259:References
155:Peter Hall
124:along the
101:New Jersey
151:Hong Kong
147:Singapore
122:Elizabeth
109:Sales tax
312:(2003).
278:(1987).
240:Indiana
171:in the
45:History
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196:London
177:Dudley
153:where
70:Theory
318:ISBN
286:ISBN
234:The
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