Specific geographic zones within Los Angeles County designated for economic revitalization through various incentives attract businesses and create jobs. These zones are often characterized by high unemployment, low incomes, or other indicators of economic distress. For instance, a neighborhood struggling with factory closures might be designated to encourage new investment and job growth.
These designations play a vital role in fostering equitable economic development by directing resources to areas most in need. Businesses locating within these designated zones can access benefits such as tax credits, grants, and other financial incentives. This approach has a long history as a policy tool for promoting urban renewal and reducing regional economic disparities. The positive impact extends to residents through increased employment opportunities, improved infrastructure, and enhanced community development.
