ABOUT RUEA

What is an Enterprise Zone?

An Enterprise Zone is a designated urban area in need of community and economic revitalization, which meets certain requirements for businesses and community members to qualify for tax incentives and other programs that create a favorable climate for reinvestment.

What does the Enterprise Zone do?
Enterprise Zones are designated to revitalize specific distressed geographic areas and to create jobs for residents, by offering incentives to businesses that hire residents of the Zone, and by offering economic benefits such as tax breaks to businesses located within the Enterprise Zone.

How is the Enterprise Zone funded?
As supported by the State Enterprise Zone Board Policy, participating Enterprise Zone businesses share 25 percent of their tax savings with the Richmond UEA. These funds then go to fund economic and community development projects within the Enterprise Zone that are endorsed by the UEA.

Where is the Richmond Enterprise Zone?
See the complete map and street index (click here).