December 29, 2015
- The White House’s Promise Zone initiative is seeking new applications from communities interested in becoming promise zones. Promise Zones were created in 2013 by The Obama Administration, with the goal of partnering with high poverty communities to create jobs, and promote economic security, public safety, educational access and quality affordable housing. Promise Zone benefits include: tax benefits for businesses locating in or hiring from promise zones, preferences in obtaining federal contracts, and technical assistance in addressing local community revitalization issues. The Promise Zone designation lasts for 10 years.