Enterprise zone expiring; city seeking replacement

From: St. Joseph News-Press | Date: December 8, 2004| Author: | Copyright information

With the city's enterprise zone set to expire after Dec. 31, officials are seeking state approval for a replacement that will provide similar tax incentives for job growth.

The "enhanced enterprise zone" would replace St. Joseph's existing enterprise zone, which was created in the 1980s and provides tax breaks to businesses that relocate or expand.

The 50 percent real-estate tax breaks are the basic incentive used to lure businesses to the Mitchell Woods Business Park, the stockyards and other areas in the city's sprawling enterprise zone.

"This all came about very quickly," said Tom Lesnak, ...

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