In our previous posts, we talked about how economic zones may be an opportunity to find incentives to do real estate deals for your investing business and some of the incentives offered.
In this post, we’re talking about where some of these economic zones are located. This isn’t mean to be up to the minute information, but you can do further research to see if there are economic zones in your state or where you are located.
The economic zones in the United States are located in various regions and states throughout the country. Here are some examples of the locations of economic zones:
Foreign Trade Zones (FTZs)
FTZs are located in many different states across the country, including California, Texas, Florida, and New York. Some examples of specific FTZs include the Port of Los Angeles FTZ, the Port of Houston FTZ, and the Miami FTZ.
The Empowerment Zones program has ended, but some of the original zones were located in cities such as Baltimore, Chicago, Detroit, and Philadelphia.
Opportunity Zones are located in economically distressed areas throughout the country, as designated by each state. There are over 8,700 designated Opportunity Zones across all 50 states, as well as Puerto Rico, Guam, and the Virgin Islands.
Each state has its own set of Enterprise Zone programs, and the locations of these zones can vary widely. Some examples of states with Enterprise Zones include California, Colorado, Illinois, and Maryland.
Overall, economic zones are located in areas that have been designated by the government or state as eligible for economic development incentives and benefits. These zones can be found in many different states and regions throughout the United States, so be sure to do your research to see if these programs offer you any incentives for your business.
If you’re not a real estate investor yet but would like to be, real estate coach and attorney Brian Gormley has created several education options for real estate investors. It’s important to get some education to avoid the pitfalls and traps! Get started on your journey today with Coach Brian’s masterclass or private coaching!