ENTERPRISE ZONE

(Business World) An area in which a government seeks to stimulate new enterprise by creating financial incentives (such as tax concessions) for businesses. Etymology: Formed by compounding: a zone in which enterprise is actively fostered. History and Usage: Enterprise zones were first discussed in the late seventies, principally as a way of revitalizing economically depressed areas of inner cities, where there tended to be high levels of unemployment and relatively little investment. The idea has been tried in various parts of the world during the past ten years, including the US, the UK, and Australia. The enterprise zone...development will become the norm in Wales, as more service industries requiring office space move to the area. Building Today 22 June 1989, p. 26