Enterprise zones and their future
Published 9:15 pm Tuesday, September 30, 2008
Today’s work session will include discussions about enterprise zones and their future within the city of Suffolk. Spurring the discussions is the fact that the 20 year expiration of enterprise zones will be up next year in Suffolk. With such a short time left, city officials want to maximize the zone space and are planning to make modifications to the zone boundaries.
That’s a good thing. Enterprise zones are partnerships between the state and municipalities. The state provides support via incentives to offer business to encourage them to locate in more distressed areas in the city to help spur growth and revitalization.
Since 1990, Suffolk has had a maximum of 3,840 acres to deem as enterprise zones within the city.
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Suffolk is wise to consider what opportunities are available while there is time to make the modifications. Promoting business development in distressed areas is key to keeping a community moving forward. Oftentimes sectors of a community get left behind from growth, but the enterprise zones help to resolve that problem.
Let’s hope council looks long and hard at how they can best utilize the zones within our city. Making wise decisions now will have long lasting effects.