Map 6: Economic Development Areas
Areas on the Economic Development Policy map delineate where extra support is given to new and expanding businesses.
Reinvestment Areas and Corridors
These areas were identified in Connections 2025 for public and private investment and are eligible for Urban Development Investment Guidelines grants that the City uses to promote infill and redevelopment to create more economically and socially vibrant communities.
- Reinvestment Areas include designated Redevelopment Areas and additional locations first identified in Connections 2025.
- Reinvestment Corridors include eight commercial corridors along major thoroughfares that need reinvestment to increase economic activity and strengthen adjacent neighborhoods.
Impact Zones
Impact Zones encourage growth on priority sites in specified areas to diversify the local economy, provide high wage employment opportunities, and support a sustainable, vibrant community. Each zone includes areas that would most benefit from investment and reinvestment.
Current incentives for these areas include the “80 for 8” program that extends the life of economic incentives.
- Zone 1 offers an incentive of 80% of the increased ad valorem tax for up to eight years;
- Zone 2 offers an incentive of 80% of the increased ad valorum tax for up to six years.
For more information, see Chapter 10, Map 6 in the GSO2040 Comprehensive Plan.