Posted January 30, 2002 Manufacturing News Bush Administration Announces Community Revitalization Efforts The Department of Housing and Urban Development announced an estimated $17 billion in tax incentives to stimulate job growth, promote economic development and create affordable housing opportunities in seven new Empowerment Zones across the country. Empowerment Zones (EZs) encourage public-private partnership to generate economic development in some of the nation's most distressed urban communities. The newly designated EZs will be located in Pulaski County, Arkansas; Fresno, California; Jacksonville, Florida; Syracuse, New York; Yonkers, New York; Oklahoma City and San Antonio. Authorized by the 2000 Community Renewal Tax Relief Act, the new EZs will use public and private partnerships to build a framework of economic revitalization. Included in the $17 billion tax relief package, an estimated $6 billion in incentives are exclusively available for EZs across the country. These EZs remain eligible to share $11 billion in Low-Income Housing and New Market Tax Credits. The Manufacturing Report © Copyright 2002 by Lionheart Publishing, Inc. All rights reserved. E-mail Editorial Dept: tmr-editorial@lionhrtpub.com Lionheart Publishing, Inc. 2555 Cumberland Parkway, Suite 299, Atlanta, GA 30339 USA Phone: 770-431-0867 | Fax: 770-432-6969 E-mail: lpi@lionhrtpub.com