Enterprise Zone
Definition
Designated area where businesses receive tax incentives and regulatory relief to encourage investment in economically distressed neighborhoods. Federal and state programs offer various benefits.
Louisville Context
Louisville has multiple enterprise zones in West Louisville, South End, and other distressed areas. Incentives include: sales tax exemptions on equipment, property tax reductions, and hiring tax credits. Mixed results: some businesses invest, others take incentives without creating quality jobs. Dave requires: (1) living wages for incentive recipients, (2) local hiring requirements, (3) tracking job quality not just quantity.
Why It Matters
Enterprise zones aim to revitalize poor neighborhoods, but incentives alone don’t guarantee good jobs for residents. Without requirements for living wages and local hiring, incentives can subsidize low-wage jobs that don’t lift neighborhoods.
Dave’s Proposal
Strengthen enterprise zone requirements: living wage floor, local hiring preferences, job quality metrics (not just quantity), and accountability for delivering promised community benefits.