|
The
Florida Enterprise Zone Program was established in 1982 with
the purpose of revitalizing economically distressed areas.
To accomplish this, local governments, acting as agents of
the State, provide tax and regulatory relief to encourage
businesses to locate and invest in designated zone areas to
help the creation of new jobs, hire local residents and enhance
the social and economic well-being of affected neighborhoods.
Businesses
located within a designated zone may qualify for certain financial
incentives including: job tax credits for employing residents
of the zone, sales tax refunds on business equipment, sales
tax refunds on building materials, property tax credit and,
the potential for sales tax exemptions on electrical energy.
The
current 10-year State Enterprise Zone program began January
1, 1995. Since then, more than 50 urban and rural enterprise
zones have been designated throughout Florida, one of which
is located in the City of Sarasota.
In 2002, the City of Sarasota and Sarasota County was awarded
an Enterprise Zone designation by the State of Florida. In
2005, the State approved a boundary expansion increasing the
total size to slightly more than two square miles. The boundaries
of the zone begin approximately one and one-half miles north
of downtown Sarasota roughly described as beginning at the
intersection of North Tamiami Trail (U.S. 41) and 10th Street,
north to Myrtle Ave, east to the Seminole Gulf Railway (east
of U.S. 301), south to 10th Street, and west to the beginning
at U.S. 41. The greater zone acreage lies within in the Newtown
community.
The census tracts qualified in the Sarasota Enterprise Zone
are: 0200.1, 0200.2, 0200.3 (east of U.S. 41, only), 0200.4,
0300.1, 0300.2, and 0300.3.
Please contact the Newtown Redevelopment Office for further
information and instructions:
City of Sarasota, Planning & Redevelopment Department
Newtown Redevelopment Office
1782 Dr Martin Luther King Jr Way
Sarasota, FL 34234
(941) 373.7780
dru_jones@sarasotagov.com
|
