Below we see the ENTERPRISE ZONE policies passed during REAGAN era creating the MASTER PLAN for our US cities deemed FOREIGN ECONOMIC ZONES. Clinton era upgraded these policies during his terms. When our US 99% of WE THE PEOPLE read these policies or only get our information from global banking 1% FAKE NEWS----we are told these Reagan-era ENTERPRISE ZONE policies are job creators in US city impoverished communities.
What that bill REALLY said as Clinton/Bush/Obama global neo-liberal 5% freemason/Greek players know is-----all that Federal revenue to build these ENTERPRISE ZONES were sent overseas to build US corporate campuses in Foreign Economic Zones in Asia et al. So, below we see the 30 YEAR LIFE SPAN of Reagan era ENTERPRISE ZONE policies being UPDATED in 2012.
All that ENTERPRISE ZONE revenue having been directed for Chicago or Baltimore went to expand corporations overseas---creating jobs indeed for global labor pool 99% in FOREIGN ECONOMIC ZONES overseas.
This is why BALTIMORE CITY is one great big GHETTO.
US Federal tax revenue and our Federal social benefit programs built global multi-national corporations.
NO JOBS UNLESS US CITIZENS WENT OVERSEAS.
'On August 7, 2012, the Governor amended the Illinois Enterprise Zone Act by signing Senate Bill 3616 into law (Public Act 97-0905). Many of the oldest enterprise zones will expire in 2014 at the end of their 30-year life cycle. Since 1984, the Illinois Department of Commerce and Economic Opportunity (DCEO) has created a total of 97 enterprise zones'.
So, what our 99% US WE THE PEOPLE need to seek to understand today ---are the 5Ws ---who, what, where, when, why, and how of these ENTERPRISE ZONE EXTENSIONS being installed during OBAMA era.
REAL left social progressives saw back in 1980s-90s to where all of global banking 1% neo-liberals were sending trillions of dollars in ENTERPRISE ZONE revenue. We knew then as well what the MASTER PLAN for US cities deemed FOREIGN ECONOMIC ZONES would be MOVING FORWARD.
August 7, 2012
Enterprise Zone Extension and Reforms Signed into Law
On August 7, 2012, the Governor amended the Illinois Enterprise Zone Act by signing Senate Bill 3616 into law (Public Act 97-0905). Many of the oldest enterprise zones will expire in 2014 at the end of their 30-year life cycle. Since 1984, the Illinois Department of Commerce and Economic Opportunity (DCEO) has created a total of 97 enterprise zones.
This post serves as a follow up to an April Policy Update on Enterprise Zones bills under consideration by the General Assembly. SB3616 was just one of several proposed bills this session that sought to reform, extend, and expand the economic development incentive. The bills that did not move forward proposed a variety of changes to the Enterprise Zone Act, including extending the lifespan for a zone from 30 to 55 years and restricting the number of new zones that could be created. Language proposed in one failed bill requiring additional reporting on demographic or socio-economic evaluation criteria was incorporated in the approved bill.
SB3616 passed the General Assembly unanimously and includes provisions to extend the enterprise zone program. Those provisions, which have now been adopted as law, include:
Public Act 97-0905 will provide additional data for policymakers to evaluate economic development incentives like those provided to businesses through Enterprise Zones and RERZs. While there are provisions requiring that Enterprise Zones meet specific socioeconomic criteria and submit data on the value of tax incentives provided to businesses, these measures are just the first step toward making informed policy decisions on the effectiveness of current or proposed incentives. GO TO 2040 advocates for increased transparency around use of public funds and data-driven decision making for public policy. CMAP continues to urge the State and local governments to increase access to all available information on how taxpayer dollars are being spent in these efforts to spur local economic development.
________________________________________
Seems like our far-right wing global banking 5% pol tied to an NGO called COALITION FOR POLITICAL HONESTY' being that CONSUMER ADVOCATE under Chicago MAYOR WASHINGTON is MYTH-MAKING AND LYING about goals of his UPDATING OF ENTERPRISE ZONE policies in 2012.
'Patrick Joseph Quinn Jr. (born December 16, 1948) is an American lawyer and politician who served as the 41st Governor of Illinois, from 2009 to 2015. A Democrat, Quinn began his career as an activist by founding the Coalition for Political Honesty.[1] He is currently working on Take Charge Chicago, a petition for referendums to limit the Mayor of Chicago to two four-year terms and create an elected Consumer Advocate in the city.[2]
Born in Chicago, Illinois, Quinn is a graduate of Georgetown University and Northwestern University School of Law'
Let's take a look at what MR HONESTY IN POLITICS AND CONSUMER ADVOCATE ILLINOIS GOVERNOR QUINN did in pushing and signing an UPDATED ENTERPRISE ZONE ACT.
'If signed by the Governor, the new law will change how the State grants and renews economic development areas and will require additional reporting to help determine the effectiveness of the tax benefits provided under the law'.
So, for 30 years the global labor pool 99% getting jobs from ENTERPRISE ZONE development OVERSEAS were enslaved in what were global factories----LUCKY THEM!
Above we see the UPDATED 2012 ENTERPRISE ZONE tied to expanding what was tied mostly to our US CITIES----and it MODIFIES just how the state grants revenue. Now, for 20 years the STUDY OF EFFECTIVENESS has been ZERO TO HARMFUL every year but GOV QUINN wants our 99% of WE THE PEOPLE to feel there is accountability in MOVING FORWARD. GOV QUINN a graduate from a global religious freemason university followed by a raging hyper-global neo-liberal university was NEVER a DEMOCRAT.
Those public policy terms---don't we love them TRIPLE JUMBO ENTERPRISE PROJECT.
We all know TRIPLE JUMBO ENTERPRISE PROJECTS reach out to our 99% US WE THE PEOPLE as business owners. What will the global banking 5% freemason/Greek players do this round when PAY-TO-PLAY is a no-go? We have had 20 years of research and data saying these corporate tax breaks bring NO VALUE and harm our US communities-----but there they are in the new version of 2012 ENTERPRISE ZONE policies.
Enterprise Zones: Illinois and Other States
July 26, 2012
As discussed here previously the Illinois General Assembly recently passed a sweeping overhaul of its Enterprise Zone Act. If signed by the Governor, the new law will change how the State grants and renews economic development areas and will require additional reporting to help determine the effectiveness of the tax benefits provided under the law.
Enterprise zones are areas designated by governments as economically depressed and in need of tax benefits to promote growth and create or retain jobs. The concept underlying enterprise zones is that reducing government regulation and taxation in economically depressed areas will stimulate local business enterprise and investment that would otherwise not occur. Currently, 43 states have created enterprise zone programs and there are well over 3,000 enterprise zones in the U.S. The administration and type of tax benefits allowed for in these zones varies greatly from state-to-state and even within different localities of each state.
The following excerpts are from the Civic Federation’s forthcoming report, Illinois Enterprise Zones: An Issue Brief. This chapter compares the number of zones in Illinois to other key states and describes the different tax benefits provided around the country.
ENTERPRISE ZONES IN SELECTED STATES
This section of the report compares the operation of enterprise zones in a representative sample of states: Indiana, California, Connecticut, Florida and Texas. The number of enterprise zone and related areas located in each of these states and Illinois is shown below. The Illinois figure will be operative in 2013, reflecting recent passage of legislation increasing the number of zones.
The states offer a wide variety of state and local enterprise zone incentives to qualifying businesses and individuals. These are summarized in the table below. Illinois offers the greatest types of incentive and is the only state to offer utility tax incentives.
The stated purposes of enterprise zone programs in different states are shown below. All note that the intent of these programs is to remediate blight. However, they emphasize different ways to achieve that goal ranging from stimulating business development job creation to improving the quality of life.
Tax Incentives by State:
California
Enterprise zones: Individuals or businesses located in an enterprise zone may be eligible for the following program benefits:
Businesses located in a LAMBRA Zone are eligible for program benefits. The tax incentives provided include:
Enterprise Zones: Qualified businesses in enterprise zones are eligible for several tax incentives:
Any businesses engaged in biotechnology, pharmaceutical, or photonics research, development or production, with not more than three hundred employees, are eligible for Enterprise Zone benefits if they are located anywhere in a municipality with (1) a major research university with programs in biotechnology, pharmaceuticals or photonics and (2) an Enterprise Zone. Benefits are subject to the same conditions as those for businesses located in an Enterprise Zone.
Residential and commercial property owners are also eligible for fixed property assessments for improvements made during the time an area is designated as an enterprise zone. The fixed assessment is for a seven year period. The amount of deferral on increased assessments due to improvements is 100% in years one and two, 50% in year three, then declining 10% per year through year seven. These benefits are provided at the local level.
Urban Jobs Program: Benefits provided to participating businesses include:
Florida
Jobs Tax Credit - Rural Enterprise Zones:
Allows a business located within a Rural Enterprise Zone to take a sales and use tax credit for 30 or 45 percent of wages paid to new employees who live within a Rural County. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.
Jobs Tax Credit - Urban Enterprise Zones:Allows a business located within an Urban Enterprise Zone to take a sales and use tax credit for 20 or 30 percent of wages paid to new employees who reside within an enterprise zone. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.
Business Equipment Sales Tax Refund - Rural and Urban Enterprise Zones:
A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone for at least 3 years.
Building Materials Sales Tax Refund - Rural and Urban Enterprise Zones:
A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in an Enterprise Zone.
Sales Tax Exemption for Electrical Energy - Rural and Urban Enterprise Zones:
A 50% sales tax exemption is available to qualified businesses located within an Enterprise Zone on the purchase of electrical energy, if the municipality has reduced the municipal utility tax by at least 50%.
Property Tax Credit - Rural and Urban Enterprise Zones:
New or expanded businesses located within an enterprise zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.
Community Contribution Tax Credit Program - Rural and Urban Enterprise Zones:
Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in an enterprise zone to be eligible for this credit.
Property Tax Exemption for Childcare Facilities - Rural and Urban Enterprise Zones:
Provides an exemption from ad valorem property tax for licensed childcare facilities operating in areas designated as enterprise zones.
Indiana:
All of the following tax benefits are provided in Indiana as parts of enterprise zones.
Employment Expense Credit:
A state tax credit equal to 10% of the additional wages paid to qualified employees up to a maximum of $1,500. At least 90% of the employee’s services must be directly related to the enterprise zone business, and at least 50% of the employee’s time must be spent working at the enterprise zone business. Unused credits may be carried forward for up to 10 years or carried back for up to three years. The credit may be applied against individual or corporate adjusted gross income taxes, financial institutions tax or insurance premiums tax liabilities.
Investment Cost Credit: A state tax credit for equity investment in an enterprise zone business equal to a maximum of 30% of the price of the ownership interest purchased by the taxpayer. The credit is nonrefundable, but unused credits may be carried forward. Unused credits may not be carried back. This credit may be applied against individual or corporate adjusted gross income tax liability.
Loan Interest Credit: This is a state tax credit for interest income earned by a taxpayer from a loan that directly benefits an enterprise zone business, increases enterprise zone property values, or is used to rehabilitate, repair, or improve an enterprise zone residence. The credit is equal to 5% of the loan interest received during the year. The credit is nonrefundable, but unused credits may be carried forward. Unused credits may not be carried back. The credit may be applied against the individual or corporate adjusted gross income taxes, the financial institutions tax or the insurance premiums tax liabilities.
Employee Income Tax Deduction: Qualified employees in an enterprise zone may deduct half of the adjusted gross income tax liability earned during the year up to a maximum deduction of $7,500. This can result in a $255 reduction in state income tax liability for a qualified employee. A qualified employee is an individual who lives in an enterprise zone and is also employed within that zone. To qualify for the deduction at least 90% of the employee’s services must be directly related to the enterprise zone business and at least 50% of the employee’s time must be spent working at the enterprise zone business.
Property Tax Investment Deduction: This is a property tax deduction for the increased value of an enterprise zone business property due to real and personal property investment by the business. The added valuation may be deducted for up to 10 years. Qualified investment at an enterprise zone location includes the following: (1) purchase of a building, new manufacturing or production equipment; (2) costs associated with the repair, rehabilitation, or modernization of an existing building and related improvements; (3) onsite infrastructure improvements; (4) construction of a new building; and (5) costs associated with retooling existing machinery.
Texas
Approved enterprise projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund is related to the capital investment and jobs created at the site.
Each project is limited to a maximum refund of $250,000 per year for five years for a regular enterprise project designation, $500,000 per year for five years for a double jumbo enterprise project and $750,000 per year for five years for a triple jumbo enterprise project.
_________________________________________________
Illinois Gov QUINN champion of political honesty and consumer advocate supreme as his myth-making motto goes------he is that same person as CA Gov Brown and MD Gov O'MALLEY ---all far-right wing global banking PRETENDING to be helping 99% of citizens and new immigrants.
Our new to America global labor pool 99% of citizens need to know it was REAGAN/CLINTON era ENTERPRISE ZONE policies installed in US cities deemed SANCTUARY CITIES-----sending all our US Federal revenue to build the global sweat shop factories in Asian FOREIGN ECONOMIC ZONES----you know, the ones Asian 99% of citizens are now refusing to work because they are so brutal. This is QUINN as O'MALLEY as BROWN pretending Enterprise Zone policies and SANCTUARY CITY policies were about HELPING IMMIGRANTS TO FIND JOBS.
'Employment is not the same as protection
While globalisation has undoubtedly lifted millions of people out of poverty, it has also been associated with exploitation and marginalisation. Evidence from SEZs in Asia shows how labour rights have been compromised, resulting in extremely low wages, forced overtime and different forms of abuse. So much so that in India they have been dubbed “special exploitation zones”'.
Guess what? The same thing is MOVING FORWARD with new updates in SANCTUARY CITY/STATE ----ENTERPRISE ZONES in 2012. So, REAGAN/CLINTON used 1980s-90s ENTERPRISE ZONES to build SPECIAL EXPLOITATION ZONES overseas------now, these same global banking 5% freemason/Greek pols and players are working hard to build the same---this time taking our US 99% of WE THE PEOPLE black, white, and brown citizens with our 99% new immigrant citizens.
WHO IS THE CONSUMER FOR WHICH QUINN IS WORKING? GLOBAL CORPORATIONS ARE CONSUMERS OF GLOBAL LABOR FORCE AS HUMAN CAPITAL.
THE UNITED NATIONS PROTEST IN SUPPORT OF SANCTUARY CITIES/STATES WAS SIMPLY CREATING REASONS TO BUILD DENSITY HERE IN US FOR THESE SAME EXPLOITATION IN US FOREIGN ECONOMIC ZONES.
This is the first thing our newly updated 2012 ENTERPRISE ZONE policies do----it assures that new immigrants brought to US will be exploited and brutalized here as was done overseas. Those not working get to participate in US FAILED STATE city gangland as freemasonry.
All of these few decades of continuous wars overseas to create REFUGEES that then are shipped to overseas FOREIGN ECONOMIC ZONES as slave labor----that is what 2012 updated ENTERPRISE ZONE policies bring to our US FOREIGN ECONOMIC ZONES---EXTENDED.
Why jobs in special economic zones won’t solve the problems facing the world’s refugees
April 6, 2017 6.45am EDT
Author
Heaven Crawley receives funding from the Economic and Social Research Council (ESRC)
Syrian refugees on the Jordanian side of the border wait to enter a medical clinic in March 2017. Jamal Nasrallah/EPA
In a new book, two Oxford professors, Alexander Betts and Paul Collier, are calling on politicians to harness “the remarkable opportunities of globalisation” to reorient the refugee system away from humanitarian assistance and towards development. Focusing primarily on the arrival of large numbers of Syrian refugees in Europe during the course of 2015, they argue that the refugee system has failed to provide long-term solutions for refugees who are left festering in underfunded “humanitarian silos”.
One of the “big ideas” Betts and Collier present is that global capitalism can ride to the rescue of the refugee system through the creation of jobs for refugees within special economic zones (SEZs) in countries such as Jordan, currently host to around 650,000 Syrian refugees. SEZs are designated areas with special economic regulations intended to attract foreign direct investment.
The proposition is a simple one: provide companies with tax incentives and opportunities for trade in return for providing refugees with opportunities for work, autonomy and self-reliance. They argue this will create a “win-win” situation for both the developing countries which carry the burden of supporting the majority of the world’s refugees with limited resources, and the rich countries struggling politically to manage the consequences of increased irregular migration.
But as I argue in a review published in the journal Nature, neither the book’s diagnosis nor its vision take us closer to a solution because it engages only partially with the complex political and economic realities facing the world’s refugees.
New wine in old bottles
The idea of harnessing the skills and capabilities of refugees for development is far from new. In the 1960s, UNHCR – the UN’s Refugee Agency – tried to link its refugee assistance programmes with development aid. From the early 1980s, there was a strong emphasis on what came to be known as “refugee aid and development” programmes, with the aim of moving refugees towards self-sufficiency and a durable solution to their situation.
But the increased interest shown by the EU and international organisations such as the World Bank is certainly new and clearly reflects more recent political and economic developments – particularly in the EU and Jordan. The EU has been desperately try to find ways to limit the number of refugees arriving in Europe. Jordan’s economic woes, which are longstanding, have been exacerbated by the arrival of large numbers of Syrian refugees.
These political and economic interests came together in the Jordan Compact, which was signed in London in February 2016. The agreement provides a $2.1 billion aid package to Jordan on the condition that jobs are created for Syrian refugees who, for the past five years, have been barred from legally working in the kingdom.
At the same time, multilateral development banks said there was potential to offer as much as $1.9 billion in concessional financing, and the EU has agreed to waive taxes and quotas for products created using Syrian labour. Jordan will also allow legal employment for the hundreds of thousands of Syrians outside the zones, without putting them in direct competition with Jordanians. The aim is to create as many as 200,000 jobs for Syrian refugees over the next five years.
A Syrian boy sells slippers at the Zaatari refugee camp in Jordan in 2016. Jamal Nasrallah/EPA
Employment is not the same as protection
While globalisation has undoubtedly lifted millions of people out of poverty, it has also been associated with exploitation and marginalisation. Evidence from SEZs in Asia shows how labour rights have been compromised, resulting in extremely low wages, forced overtime and different forms of abuse. So much so that in India they have been dubbed “special exploitation zones”.
But the problem with SEZs is bigger than this.
Around 5m people have been forced to leave Syria and are currently hosted by Turkey, Jordan and Lebanon. But the majority of the world’s 21m refugees are living elsewhere, predominantly in countries in which there is ongoing conflict or with whom relations with the West are distinctly strained.
It is hard to imagine international organisations funding the employment of refugees in SEZs in the Islamic Republic of Iran. Iran is currently host to nearly a million refugees mainly from Afghanistan who face discrimination and exclusion from the labour market.
Or Chad, host to more than 360,000 refugees mainly from surrounding countries which are reeling from attacks by the militant group Boko Haram.
Or Sudan, with an estimated 356,000 refugees, whose president, Omar al-Bashir, is facing an International Criminal Court arrest warrant alleging war crimes and crimes against humanity.
And in Ethiopia where the EU has signed a similar agreement to the one in Jordan. Here, my discussions with those working on the ground suggest there is growing resistance to the idea of new jobs being “ring-fenced” for refugees.
Crucially, the focus on creating employment does not address the problem at the heart of the refugee system: the failure of the international community to step up to its responsibilities under international law to provide protection for those who are fleeing conflict, persecution and human rights abuse.
It is also questionable whether employment in semi- or low-skilled jobs in neighbouring countries could prevent people from moving on to Europe or beyond. Recent research my team and I did interviewing 500 refugees and migrants who crossed the Mediterranean to Europe during 2015 found that many had moved not just because of a lack of work but because of a lack of protection, security, education and healthcare for their children.
Is it working?
In the period since Betts and Collier first suggested that SEZs would help mend the broken refugee system in late 2015, a number of governments and organisations have lined up behind the proposal. But even in Jordan doubts are starting to creep in.
More than a year since the Compact agreement was signed, Jordan has secured $923.6m in funding, but the hoped-for results haven’t yet materialised. Although Syrians in Jordan were able to get work visas from April 2016, the humanitarian news agency IRIN reported that according to Jordan’s Ministry of Labour, by February 2017, 38,516 permits had been issued. This means that the Jordan Compact has so far benefited a small proportion of refugees despite huge political and financial effort.
The reasons are complex but at heart they reflect a failure on the part of governments and international organisations to engage with the complex realities of the Jordanian labour market – which is already highly dependent on migrant labour – and the needs and aspirations of refugees themselves.
Within SEZs, the jobs on offer are typically low- or semi-skilled with long and repetitive hours. Those who have tried to hire Syrians in larger numbers, for example within the garment industry, have found that the take-up has been poor. Whereas other migrant workers are typically single, many Syrians struggle with childcare responsibilities and poor transport links from the places they are living to SEZs.
In practice, for many Syrians the gains of being legally employed are simply not worth the losses. Some refugees fear losing access to financial support or the opportunity to join family members who are have already moved to other countries. Others prefer to remain under the radar rather than risk registering with a government they don’t fully trust.
And although they are also allowed to apply for work permits outside of the SEZs, Syrian refugees are barred from applying for jobs as accountants, doctors, engineers, lawyers and teachers for which they have previously been trained but which are viewed as potentially taking opportunities from Jordanian workers.
It would be easy to dismiss all of these points as an unnecessary distraction from the central proposition put forward by Betts and Collier, namely the need to address the problems facing the refugee system by focusing on development rather than humanitarianism, empowerment rather than dependency. But details are important.
SEZs are a tool for creating livelihood opportunities for some refugees in some contexts. But addressing the profoundly political problems that underpin the drivers of forced migration and have come to mark the international community’s response to it will require far more creative thinking. And it will require the kind of alliances and allegiances that challenge and confront some of the profound inequalities with which global capitalism has come to be associated.
___________________________________________
'Newly formed corporations located in a zone qualify for a 100% corporate tax credit for their first three taxable years and a 50% tax credit for the next seven taxable years. The corporation must have: (1) at least 375 employees, of which at least 40% are either zone residents or are residents of the municipality and who qualify for the Workforce Investment Act'
As we see above-----corporations hiring at least 375 workers------are not local businesses. What was US tax money being sent overseas is being handed to multi-national corporations coming back to US.
THAT IS THE UPDATE. TAX BREAKS GIVEN TO US CORPORATIONS EXPANDING OVERSEAS NOW BEING GIVEN TO ANY FOREIGN NATIONAL CORPORATION LOCATING IN US FOREIGN ECONOMIC ZONES.
Below we see India with its FAR-RIGHT WING installing the same in 2000---
Cash cows - India's Special Economic Zones - The Economist
www.economist.com/asia/2006/10/12/cash-cows
Oct 12, 2006 ... India's Special Economic Zones
Cash cows ... Print edition | Asia ... will attract more than $5 billion in foreign direct investment by the end of ... that farmers are being forced to sell their land and lose their occupations
SEZ ASpIrAtIonS
The first official mention of SEZs in India was in 2000, when
the right wing National democratic Alliance (NdA) government
An overall evaluation of the SEZ endeavor is a complicated exercise involving the balancing of costs associated with problems such as land acquisition and displacement against the potential generation of wealth and employment. The extensive protest against SEZs in many parts of India further complicates the analysis.
JAIvIR SINGh announced a SEZ Policy which hoped to not only establish Special Economic Zones all over the country
What GOV QUINN in ILLINOIS is doing with this 2012 ENTERPRISE ZONE update is as explained below-----it is creating a network of Foreign Economic Zones across Illinois with clauses promoting the expansion of these zones eminent domain-----move over Illinois communities-----BY DEMAND. BY DEMAND of whom? The global corporate campus headquarters installed as a FOOTPRINT these few decades.
'The UIRVDA plan, in contrast, will acquire its geographic layout only as particular projects are approved by the agency’s board of directors. The zone will be created when the first development project is approved, and the connecting lines will be established as later projects are approved in other locations within the nine-county region.
“The way this enterprise zone is going to work is they will extend the zone by project,” Kroeschen explained. “It’s kind of a zone-by-demand, I guess, would be the best way to say it.”'
BY-DEMAND extension of FOREIGN ECONOMIC ZONES------is how a US state real estate is consolidated and handed by eminent domain----to any size global corporate campus. Nothing is tied to local businesses---no control over which corporations are installed.
Here in MD that means a Prince George's County Enterprise Zone can extend to reach our Baltimore City Enterprise Zone can extend to reach our Maryland Eastern Shore Enterprise Zones-----without any voice of 99% of citizens in all those MD----our IL communities.
Marshall County looking at ‘by-demand’ Enterprise Zone
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By Gary L. Smith
of the Journal Star
Posted Jan 8, 2017 at 5:09 PMLACON --
The former Marshall County Enterprise Zone appears likely to be replaced by participation in a sprawling “zone-by-demand” that could stretch across nine counties.
That’s the latest configuration envisioned for the county’s possible participation in a zone expected to be created by the Ottawa-based Upper Illinois River Valley Development Authority.
UIRVDA, one of 10 state-created regional development agencies in Illinois, serves Bureau, Grundy, Kane, Kendall, Lake, LaSalle, Marshall, McHenry and Putnam counties. The agency can issue bonds to help finance capital improvements, and it also has the authority to create an enterprise zone that can extend property and sales tax benefits to new businesses or expansion projects.
The enterprise zone power became of special interest to local officials after Marshall County failed twice to secure approval from the Illinois Department of Commerce and Economic Opportunity to extend the zone that was formed in 1993 but expired last year.
“We were not successful, so this (UIRVDA option) was like an out-of-the-blue thing for us,” County Board Chairman Gary Kroeschen said last week at a committee meeting.
But the regional zone will be very different from the setup that the county previously had in place. The county’s consisted of specifically defined areas in and around the participating municipalities of Henry, Lacon, Sparland, Toluca, and Wenona, all joined by a narrow strip of land running along the highways between the communities.
The UIRVDA plan, in contrast, will acquire its geographic layout only as particular projects are approved by the agency’s board of directors. The zone will be created when the first development project is approved, and the connecting lines will be established as later projects are approved in other locations within the nine-county region.
“The way this enterprise zone is going to work is they will extend the zone by project,” Kroeschen explained. “It’s kind of a zone-by-demand, I guess, would be the best way to say it.”
Three projects in other areas are expected to be considered soon by the UIRVDA board, said Bob Bakewell, who is a member of that panel as well as the county board. Marshall County currently has no pending or potential projects that might qualify, officials said at the meeting.
“You have to have a project to get benefits,” Bakewell noted.
But the original zone assisted in 55 to 60 projects over its 23-year life, according to information presented at earlier meetings. While some municipalities have tax-increment financing districts that can offer some similar benefits, the enterprise zone was the only development tool available in other parts of the county.
County Board Vice Chairman Travis McGlasson said he and another member expect to meet soon with a consulting agency to discuss the possibility of submitting a third application to roughly duplicate the original zone. But the expense of doing so and the difficulty in succeeding make the UIRVDA option seem the most viable at this point, he indicated.
“At least for the time being,” McGlasson said, “if we want to be in an enterprise zone, we’re exploring that.”
_____________________________________________
Here is that global corporate campus headquarters as we have shouted it will expand to take all of West Baltimore and the NEW UPDATED ENTERPRISE ZONE policies will say this global campus has eminent domain over any real estate over any communities in its way. Remember, this global UNDERARMOUR campus does not only build global factories tied to its own sports products---it can and will merge or be acquired by ANY multi-national corporation ----all the bragging about UNDERARMOUR being a HOMETOWN BALTIMORE CORPORATION is PRETENSE for installing this FOOTPRINT.
So, BY-DEMAND ENTERPRISE ZONE policies will allow this one global corporate campus ---today called UNDERARMOUR to extend in any direction-----of course the same would take place in Prince George's County ENTERPRISE ZONES to the point these two zones join into ONE SUPER-DUPER GIANT CHINESE-STYLE FOREIGN ECONOMIC ZONE---all eminent domain---no voice from 99% of MARYLAND WE THE PEOPLE----no voice from 99% WE THE ILLINOIS PEOPLE----no voice from 99% WE THE CALIFORNIA----WE THE TEXAS people.
UnderArmour is already staggering towards what will be that merger and acquisition----but that ENTERPRISE ZONE policy goes to whatever multi-national corporation buys it.
All these policies installed in 2012 during OBAMA era---by CLINTON/BUSH/OBAMA. When they push your community out of existence don't blame the current MADMAN AS US PRESIDENT.
Port Covington land is space for Under Armour to grow
Natalie ShermanContact Reporter
The Baltimore Sun
Kevin Plank plans Under Armour campus at Port Covington
Under Armour CEO Kevin Plank said Monday that he wants to create a new neighborhood on the waterfront acreage he has assembed in Port Covington, anchored by a relocated Under Armour headquarters and enlivened by shopping, restaurants, a distillery and horse stables.
The Port Covington land secures room for Under Armour to grow unencumbered by space limits and tensions with residents and neighboring businesess, said Plank, who founded the Baltimore-based sports apparel brand, which passed $3 billion in revenue last year.
"I do not want to limit how big of a company or how great of a company Under Armour can be because we're landlocked," he said. "It gives us an outlet from here and it allows us to do it from one central place."
Plank's first public comments on his ambitions for the South Baltimore peninsula came Monday as several smaller projects get underway.
His real estate firm, Sagamore Development, plans to break ground Wednesday on the Recreation Pier hotel in Fells Point, where it plans to open a 128-room inn around the end of 2016. It is scheduled to present plans Thursday for a rye distillery in Port Covington. The firm is also in the process of converting the former Port Covington Sam's Club into Under Armour offices, with employees moving in around the end of this year.
The 5.21-acre waterfront property off East Cromwell Street is zoned for mixed-use development and includes piers that could be used as a marina. An auction of the land is set for June 14. (Patrick Maynard / Tribune)
Plank said he wants to build a mixed-use community on the waterfront that combines an Under Armour campus with other elements that would draw people to the area. If approved, the Sagamore Spirits distillery would be open for tours and have a restaurant. Sagamore also is talking to the Police Department about building a stable for its horses next to the distillery, helping to evoke Plank's Sagamore Farm, where he breeds and trains thoroughbred racing horses in Baltimore County.
In addition to the distillery, the area would one day likely have a showcase Under Armour store, drawing visitors from Interstate 95.
"I think what makes a great campus is lots of different elements and not just simply a corporate campus where everyone disappears at 5 or 6 o'clock at night," he said. "Port Covington has never had any love. It's a beautiful place. … It just needs someone to give it a hug."
Plank has assembled more than 120 acres in Port Covington, a former industrial area once largely controlled by the CSX railroad and its predecessors. In the 1980s, the city targeted the area for redevelopment as The Baltimore Sun relocated its presses there, but little development followed until 2002 when Wal-Mart and Sam's Club opened stores there.
Sagamore's holdings include both stores, the former Baltimore Sun property, where the newspaper's printing press still operates, now-crumbling piers on the peninsula's east side, and the Schuster Concrete facility. Sagamore is also the owner of the Nick's Fish House property and the adjacent marina.
On land acquisition alone, Sagamore already has invested more than $90 million in the area. Plank declined to discuss specific parcels but said additional purchases are in the works. There's no firm timeline and a master plan still is being developed.
Sagamore is focused on developing the vacant land first, said Marc Weller, president of Sagamore Development. Negotiations with existing tenants on the site are continuing.
Plank said some, such as the Wal-Mart, may need to relocate to make way for the development.
The Baltimore Sun has a long-term lease on its printing plant, which Sagamore purchased for $46.5 million in December from Tribune Media Co., which retained Tribune Co.'s broadcast and real estate assets last year when it spun off its newspapers as Tribune Publishing Co..
Eventually, Under Armour could consolidate its Baltimore operations in Port Covington, but any final decision about that is years away, Plank said. Under Armour purchased its Tide Point campus in 2011 for $60.5 million.
"We want to create one of the world's greatest campuses that is filled with vibrancy and includes all the things you would see in a great mixed-use environment as well," said Weller, a Washington-area developer and friend of Plank's since their teenage years. "Under Armour is first priority."
About 2,000 people work at Under Armour's Tide Point headquarters and in other offices around the city, including Harbor East, Plank said. The firm, which employs about 10,700 people worldwide, also has offices in New York, San Francisco, Portland, Ore., and Austin, Texas.
Baltimore Development Corp. President Bill Cole said he has spoken to Sagamore about the early outlines of what a vision for the area might include. He said he believes Plank's investment in the area is "great for everybody involved."
"I don't think anybody who looks at Port Covington sees its highest and best use as it presently sits," he said. "The level of investment and interest in making it something a bit more dynamic is great."
Plank said he decided to go into real estate after being rebuffed by the board of the Baltimore Museum of Industry in 2012 when he proposed an expansion that would have included its Locust Point property. The museum has declined previously to comment on Under Armour's presentation, saying it has a policy of not discussing private meetings.
"I'm sitting there and I'm thinking to myself this is awful. … They're stifling our growth," he said. "How could anyone not want us to grow?"
The rejection came while he was in Dubai, a city that has experienced a massive building boom in the last decade.
"I thought to myself, we could do something like that," he said. "Number one, I've got the engine in Under Armour. Number two ... I can afford to make these decisions, so why am I waiting on [the Museum of Industry] board of directors?"
Today, Sagamore Development employs 13 people, Weller said. The firm operates as a unit of Plank Industries, the firm established to handle Plank's private investments, which is guided by the principle that investments should provide at least some tangential benefit to Under Armour.
Plank said improving the city through investments such as the Recreation Pier hotel will make it easier to attract the best talent to Under Armour, while ensuring a good impression for its visitors. It also allows Under Armour to focus on its core business, he said.
"Obviously, it's a very delicate line, but it's one in which our interests are completely aligned," he said of the balance between his private investments and the publicly traded company, of which he remains the largest shareholder. "The better I make my company, the better I make the city, the better we make this area, it makes it easier to attract people."
Cole said he expects Plank will have an easier time with his plans to grow in Port Covington than in a crowded residential and industrial area like Locust Point.
"The Port Covington site itself is a much more appealing area because it has far fewer complicating factors," said Cole, who represented Locust Point as a city councilman before taking the BDC job. "It's a blank slate for the most part."
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When our public universities tie themselves completely to MOVING FORWARD ONE WORLD for only the global 1% ----as we see below----Towson and University of Maryland are two corporate universities MOVING FORWARD what will become Chinese-style consolidation of all real estate in Baltimore/Greater Baltimore with global banking 1% using these corporate university campuses as eminent domain for the global corporations that engulf them. Global hedge fund IVY LEAGUE Johns Hopkins having been made ENTERPRISE ZONE is now doing just that. Again, if you think a local name will end up being the extending global corporate campus in a decade or two-----you haven't studied how these FOREIGN ECONOMIC ZONES overseas took entire massive regions.
So, it is our US public universities which should be leading fight against ENTERPRISE ZONE AND ITS UPDATED POLICIES----but a state governor as O'MALLEY now HOGAN appoints these public university leaders ----so, where is the 99% WE THE PEOPLE student activism against all these policies ending their futures? They are MARCHING for SANCTUARY CITIES/STATES under the guise of helping new immigrants.
This ENTERPRISE ZONE tied to TOWSON UNIVERSITY has nothing to do with local development. It will be used for eminent domain by whatever global corporation enfolds Towson into its campus.
About this article
Towson University reaches ‘milestone’ pursuing enterprise zone
Towson University and its surrounding area are one step closer to being granted a special designation by Maryland providing certain businesses tax breaks. The…
thedailyrecord.com
What that bill REALLY said as Clinton/Bush/Obama global neo-liberal 5% freemason/Greek players know is-----all that Federal revenue to build these ENTERPRISE ZONES were sent overseas to build US corporate campuses in Foreign Economic Zones in Asia et al. So, below we see the 30 YEAR LIFE SPAN of Reagan era ENTERPRISE ZONE policies being UPDATED in 2012.
All that ENTERPRISE ZONE revenue having been directed for Chicago or Baltimore went to expand corporations overseas---creating jobs indeed for global labor pool 99% in FOREIGN ECONOMIC ZONES overseas.
This is why BALTIMORE CITY is one great big GHETTO.
US Federal tax revenue and our Federal social benefit programs built global multi-national corporations.
NO JOBS UNLESS US CITIZENS WENT OVERSEAS.
'On August 7, 2012, the Governor amended the Illinois Enterprise Zone Act by signing Senate Bill 3616 into law (Public Act 97-0905). Many of the oldest enterprise zones will expire in 2014 at the end of their 30-year life cycle. Since 1984, the Illinois Department of Commerce and Economic Opportunity (DCEO) has created a total of 97 enterprise zones'.
So, what our 99% US WE THE PEOPLE need to seek to understand today ---are the 5Ws ---who, what, where, when, why, and how of these ENTERPRISE ZONE EXTENSIONS being installed during OBAMA era.
REAL left social progressives saw back in 1980s-90s to where all of global banking 1% neo-liberals were sending trillions of dollars in ENTERPRISE ZONE revenue. We knew then as well what the MASTER PLAN for US cities deemed FOREIGN ECONOMIC ZONES would be MOVING FORWARD.
August 7, 2012
Enterprise Zone Extension and Reforms Signed into Law
On August 7, 2012, the Governor amended the Illinois Enterprise Zone Act by signing Senate Bill 3616 into law (Public Act 97-0905). Many of the oldest enterprise zones will expire in 2014 at the end of their 30-year life cycle. Since 1984, the Illinois Department of Commerce and Economic Opportunity (DCEO) has created a total of 97 enterprise zones.
This post serves as a follow up to an April Policy Update on Enterprise Zones bills under consideration by the General Assembly. SB3616 was just one of several proposed bills this session that sought to reform, extend, and expand the economic development incentive. The bills that did not move forward proposed a variety of changes to the Enterprise Zone Act, including extending the lifespan for a zone from 30 to 55 years and restricting the number of new zones that could be created. Language proposed in one failed bill requiring additional reporting on demographic or socio-economic evaluation criteria was incorporated in the approved bill.
SB3616 passed the General Assembly unanimously and includes provisions to extend the enterprise zone program. Those provisions, which have now been adopted as law, include:
- Revised renewal guidelines. Public Act 97-0905 enables DCEO to grant Enterprise Zone extensions until 2016. Beginning with zones expiring in 2016, zones would need to reapply for Enterprise Zone designation under the bill's provisions.
- Consolidation with other incentives. The act eliminates River Edge Redevelopment Zones (RERZ) upon their expiration, but allows them to apply to become Enterprise Zones. The RERZ program provided tax incentives to help redevelop environmentally-challenged properties next to rivers in four zones. In addition, under the new law, other areas will have the opportunity to apply for Enterprise Zone designation, and existing Enterprise Zones and RERZs would not receive preference when reapplying for status after their life cycle expires.
- Opportunities for extensions. Zones designated under the enrolled bill would have a 15-year term, with a review by the new Enterprise Zone Board at 13 years to determine whether the zone designation should be extended for an additional 10 years.
- Eligibility and rules on extensions. Areas applying for designation would have to meet more specific criteria regarding the socio-economic condition of the area. The law provides a point system that DCEO and a new Enterprise Zone Board would utilize to assist in making designations.
- Administrative changes. Public Act 97-0905 includes several changes to the approval process and administration of Enterprise Zones. DCEO will utilize the new criteria provided to assign a score to Enterprise Zones applications. DCEO will submit applications and scores to the new five-member Enterprise Zone Board that is charged with approving or rejecting Enterprise Zone applications by majority vote.
- Reporting requirements. The law also requires additional reporting requirements. Businesses in Enterprise Zones, as well as those designated as High-Impact Businesses (not located in Enterprise Zones but eligible to receive similar tax benefits), must report annually on the total tax benefits received by incentive category, job creation, job retention, and capital investment. DCEO would make this information available in the aggregate as part of their annual reports on the Enterprise Zone program, which already includes job and capital investment information.
- Elimination of select tax incentives. The law also eliminates three of the tax incentives provided to businesses in Enterprise Zones: the income tax credit of $500 for each hire that is economically disadvantaged or a dislocated worker; the income tax exemption for dividends paid by corporations; and the deduction for interest income from loans secured by eligible investment credit property. Businesses in Enterprise Zones can still take advantage of the remaining five state tax incentives, as well as any local tax incentives offered. The fiscal implications of these changes are unclear because the legislation did not include a fiscal note to estimate the impact.
Public Act 97-0905 will provide additional data for policymakers to evaluate economic development incentives like those provided to businesses through Enterprise Zones and RERZs. While there are provisions requiring that Enterprise Zones meet specific socioeconomic criteria and submit data on the value of tax incentives provided to businesses, these measures are just the first step toward making informed policy decisions on the effectiveness of current or proposed incentives. GO TO 2040 advocates for increased transparency around use of public funds and data-driven decision making for public policy. CMAP continues to urge the State and local governments to increase access to all available information on how taxpayer dollars are being spent in these efforts to spur local economic development.
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Seems like our far-right wing global banking 5% pol tied to an NGO called COALITION FOR POLITICAL HONESTY' being that CONSUMER ADVOCATE under Chicago MAYOR WASHINGTON is MYTH-MAKING AND LYING about goals of his UPDATING OF ENTERPRISE ZONE policies in 2012.
'Patrick Joseph Quinn Jr. (born December 16, 1948) is an American lawyer and politician who served as the 41st Governor of Illinois, from 2009 to 2015. A Democrat, Quinn began his career as an activist by founding the Coalition for Political Honesty.[1] He is currently working on Take Charge Chicago, a petition for referendums to limit the Mayor of Chicago to two four-year terms and create an elected Consumer Advocate in the city.[2]
Born in Chicago, Illinois, Quinn is a graduate of Georgetown University and Northwestern University School of Law'
Let's take a look at what MR HONESTY IN POLITICS AND CONSUMER ADVOCATE ILLINOIS GOVERNOR QUINN did in pushing and signing an UPDATED ENTERPRISE ZONE ACT.
'If signed by the Governor, the new law will change how the State grants and renews economic development areas and will require additional reporting to help determine the effectiveness of the tax benefits provided under the law'.
So, for 30 years the global labor pool 99% getting jobs from ENTERPRISE ZONE development OVERSEAS were enslaved in what were global factories----LUCKY THEM!
Above we see the UPDATED 2012 ENTERPRISE ZONE tied to expanding what was tied mostly to our US CITIES----and it MODIFIES just how the state grants revenue. Now, for 20 years the STUDY OF EFFECTIVENESS has been ZERO TO HARMFUL every year but GOV QUINN wants our 99% of WE THE PEOPLE to feel there is accountability in MOVING FORWARD. GOV QUINN a graduate from a global religious freemason university followed by a raging hyper-global neo-liberal university was NEVER a DEMOCRAT.
Those public policy terms---don't we love them TRIPLE JUMBO ENTERPRISE PROJECT.
We all know TRIPLE JUMBO ENTERPRISE PROJECTS reach out to our 99% US WE THE PEOPLE as business owners. What will the global banking 5% freemason/Greek players do this round when PAY-TO-PLAY is a no-go? We have had 20 years of research and data saying these corporate tax breaks bring NO VALUE and harm our US communities-----but there they are in the new version of 2012 ENTERPRISE ZONE policies.
Enterprise Zones: Illinois and Other States
July 26, 2012
As discussed here previously the Illinois General Assembly recently passed a sweeping overhaul of its Enterprise Zone Act. If signed by the Governor, the new law will change how the State grants and renews economic development areas and will require additional reporting to help determine the effectiveness of the tax benefits provided under the law.
Enterprise zones are areas designated by governments as economically depressed and in need of tax benefits to promote growth and create or retain jobs. The concept underlying enterprise zones is that reducing government regulation and taxation in economically depressed areas will stimulate local business enterprise and investment that would otherwise not occur. Currently, 43 states have created enterprise zone programs and there are well over 3,000 enterprise zones in the U.S. The administration and type of tax benefits allowed for in these zones varies greatly from state-to-state and even within different localities of each state.
The following excerpts are from the Civic Federation’s forthcoming report, Illinois Enterprise Zones: An Issue Brief. This chapter compares the number of zones in Illinois to other key states and describes the different tax benefits provided around the country.
ENTERPRISE ZONES IN SELECTED STATES
This section of the report compares the operation of enterprise zones in a representative sample of states: Indiana, California, Connecticut, Florida and Texas. The number of enterprise zone and related areas located in each of these states and Illinois is shown below. The Illinois figure will be operative in 2013, reflecting recent passage of legislation increasing the number of zones.
The states offer a wide variety of state and local enterprise zone incentives to qualifying businesses and individuals. These are summarized in the table below. Illinois offers the greatest types of incentive and is the only state to offer utility tax incentives.
The stated purposes of enterprise zone programs in different states are shown below. All note that the intent of these programs is to remediate blight. However, they emphasize different ways to achieve that goal ranging from stimulating business development job creation to improving the quality of life.
Tax Incentives by State:
California
Enterprise zones: Individuals or businesses located in an enterprise zone may be eligible for the following program benefits:
- Hiring Credits - Firms can earn $37,440 or more in state income tax credits for each qualified employee hired;
- Up to 100% Net Operating Loss (NOL) carry-forward for state income tax liability. NOL may be carried forward for 15 years (it was suspended for tax years 2002 and 2003);
- Up-front expensing of certain depreciable property. Lenders to Zone businesses may receive a net interest income deduction on state income taxes;
- Corporations can claim a credit equal to the sales or use tax paid or incurred on the purchase of qualified property not to exceed $20 million. Individuals and partnerships can receive the credit for up to $1 million;
- Unused tax credits can be applied to future tax years, stretching out the benefit of the initial investment; and
- Enterprise Zone companies also can earn preference points on state contracts.
Businesses located in a LAMBRA Zone are eligible for program benefits. The tax incentives provided include:
- Up to 100% Net Operating Loss (NOL) carry-forward. The NOL may be carried forward 15 years. Firms can earn $31,544 or more in state tax credits for each qualified employee hired up to $2 million per year;
- Corporations can earn sales tax credits on purchases of $20 million per year of qualified machinery and machinery parts;
- Businesses are eligible for up-front expensing of certain depreciable property, up to $40,000 annually from state income taxes;
- Unused tax credits can be applied to future tax years, stretching out the benefit of the initial investment; and
- Communities also are eligible for local community incentives as a part of a business attraction package. The incentives may include the use of machinery, tools or office equipment left behind by the military.
- Streamlined local regulatory controls;
- Reduced local permitting fees; and
- Up to $29,234 or more in state income tax credits for each qualified employee hired.
- Tax credits for sales and use taxes paid on certain machinery, machinery parts and equipment;
- Income Tax credits for hiring qualified employees; and
- A fifteen year net operating loss carry-forward.
Enterprise Zones: Qualified businesses in enterprise zones are eligible for several tax incentives:
- A five-year, 80% abatement of local property taxes on all qualifying real and personal properties that are new to the municipal tax rolls as a direct result of a business relocation, expansion or renovation project.
- A 10-year, 25% or 50% credit on that portion of the Connecticut Corporate Business Tax that is directly attributable to the business’s business relocation, expansion or renovation project as determined by the Connecticut Department of Revenue Services. Qualifying for the 50% credit requires that at least 30% of new employees are residents of the municipality and are eligible under the federal Workforce Investment Act.
- Exemption from the real estate conveyance tax.
Any businesses engaged in biotechnology, pharmaceutical, or photonics research, development or production, with not more than three hundred employees, are eligible for Enterprise Zone benefits if they are located anywhere in a municipality with (1) a major research university with programs in biotechnology, pharmaceuticals or photonics and (2) an Enterprise Zone. Benefits are subject to the same conditions as those for businesses located in an Enterprise Zone.
Residential and commercial property owners are also eligible for fixed property assessments for improvements made during the time an area is designated as an enterprise zone. The fixed assessment is for a seven year period. The amount of deferral on increased assessments due to improvements is 100% in years one and two, 50% in year three, then declining 10% per year through year seven. These benefits are provided at the local level.
Urban Jobs Program: Benefits provided to participating businesses include:
- A five-year, 80% property tax abatement.
- A ten-year, 25% corporation business tax credit to qualified manufacturing businesses.
- A five-year, 80% property tax abatement for real estate and/or equipment for qualifying service facilities, provided on a sliding scale basis. The minimum investment is $20 million to qualify for a five-year, forty percent tax abatement. This benefit increases to an eighty percent, five-year tax abatement for projects with an investment greater than $90 million. The equipment qualifies only if it is installed in a facility that has been newly constructed, substantially renovated or expanded.
- A ten-year corporate business tax credit for or qualifying service facilities on a sliding scale basis based on new full-time jobs created. The minimum tax credit of 15% is allowed for service companies creating 300 or more but less than 599 new jobs. The benefit increases to 50% for such companies creating 2,000 or more new jobs at the eligible facility.
Florida
Jobs Tax Credit - Rural Enterprise Zones:
Allows a business located within a Rural Enterprise Zone to take a sales and use tax credit for 30 or 45 percent of wages paid to new employees who live within a Rural County. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.
Jobs Tax Credit - Urban Enterprise Zones:Allows a business located within an Urban Enterprise Zone to take a sales and use tax credit for 20 or 30 percent of wages paid to new employees who reside within an enterprise zone. To be eligible, a business must create at least one new job. The Sales Tax Credit cannot be used in conjunction with the Corporate Tax Jobs Credit.
Business Equipment Sales Tax Refund - Rural and Urban Enterprise Zones:
A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in an Enterprise Zone for at least 3 years.
Building Materials Sales Tax Refund - Rural and Urban Enterprise Zones:
A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in an Enterprise Zone.
Sales Tax Exemption for Electrical Energy - Rural and Urban Enterprise Zones:
A 50% sales tax exemption is available to qualified businesses located within an Enterprise Zone on the purchase of electrical energy, if the municipality has reduced the municipal utility tax by at least 50%.
Property Tax Credit - Rural and Urban Enterprise Zones:
New or expanded businesses located within an enterprise zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.
Community Contribution Tax Credit Program - Rural and Urban Enterprise Zones:
Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in an enterprise zone to be eligible for this credit.
Property Tax Exemption for Childcare Facilities - Rural and Urban Enterprise Zones:
Provides an exemption from ad valorem property tax for licensed childcare facilities operating in areas designated as enterprise zones.
Indiana:
All of the following tax benefits are provided in Indiana as parts of enterprise zones.
Employment Expense Credit:
A state tax credit equal to 10% of the additional wages paid to qualified employees up to a maximum of $1,500. At least 90% of the employee’s services must be directly related to the enterprise zone business, and at least 50% of the employee’s time must be spent working at the enterprise zone business. Unused credits may be carried forward for up to 10 years or carried back for up to three years. The credit may be applied against individual or corporate adjusted gross income taxes, financial institutions tax or insurance premiums tax liabilities.
Investment Cost Credit: A state tax credit for equity investment in an enterprise zone business equal to a maximum of 30% of the price of the ownership interest purchased by the taxpayer. The credit is nonrefundable, but unused credits may be carried forward. Unused credits may not be carried back. This credit may be applied against individual or corporate adjusted gross income tax liability.
Loan Interest Credit: This is a state tax credit for interest income earned by a taxpayer from a loan that directly benefits an enterprise zone business, increases enterprise zone property values, or is used to rehabilitate, repair, or improve an enterprise zone residence. The credit is equal to 5% of the loan interest received during the year. The credit is nonrefundable, but unused credits may be carried forward. Unused credits may not be carried back. The credit may be applied against the individual or corporate adjusted gross income taxes, the financial institutions tax or the insurance premiums tax liabilities.
Employee Income Tax Deduction: Qualified employees in an enterprise zone may deduct half of the adjusted gross income tax liability earned during the year up to a maximum deduction of $7,500. This can result in a $255 reduction in state income tax liability for a qualified employee. A qualified employee is an individual who lives in an enterprise zone and is also employed within that zone. To qualify for the deduction at least 90% of the employee’s services must be directly related to the enterprise zone business and at least 50% of the employee’s time must be spent working at the enterprise zone business.
Property Tax Investment Deduction: This is a property tax deduction for the increased value of an enterprise zone business property due to real and personal property investment by the business. The added valuation may be deducted for up to 10 years. Qualified investment at an enterprise zone location includes the following: (1) purchase of a building, new manufacturing or production equipment; (2) costs associated with the repair, rehabilitation, or modernization of an existing building and related improvements; (3) onsite infrastructure improvements; (4) construction of a new building; and (5) costs associated with retooling existing machinery.
Texas
Approved enterprise projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund is related to the capital investment and jobs created at the site.
Each project is limited to a maximum refund of $250,000 per year for five years for a regular enterprise project designation, $500,000 per year for five years for a double jumbo enterprise project and $750,000 per year for five years for a triple jumbo enterprise project.
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Illinois Gov QUINN champion of political honesty and consumer advocate supreme as his myth-making motto goes------he is that same person as CA Gov Brown and MD Gov O'MALLEY ---all far-right wing global banking PRETENDING to be helping 99% of citizens and new immigrants.
Our new to America global labor pool 99% of citizens need to know it was REAGAN/CLINTON era ENTERPRISE ZONE policies installed in US cities deemed SANCTUARY CITIES-----sending all our US Federal revenue to build the global sweat shop factories in Asian FOREIGN ECONOMIC ZONES----you know, the ones Asian 99% of citizens are now refusing to work because they are so brutal. This is QUINN as O'MALLEY as BROWN pretending Enterprise Zone policies and SANCTUARY CITY policies were about HELPING IMMIGRANTS TO FIND JOBS.
'Employment is not the same as protection
While globalisation has undoubtedly lifted millions of people out of poverty, it has also been associated with exploitation and marginalisation. Evidence from SEZs in Asia shows how labour rights have been compromised, resulting in extremely low wages, forced overtime and different forms of abuse. So much so that in India they have been dubbed “special exploitation zones”'.
Guess what? The same thing is MOVING FORWARD with new updates in SANCTUARY CITY/STATE ----ENTERPRISE ZONES in 2012. So, REAGAN/CLINTON used 1980s-90s ENTERPRISE ZONES to build SPECIAL EXPLOITATION ZONES overseas------now, these same global banking 5% freemason/Greek pols and players are working hard to build the same---this time taking our US 99% of WE THE PEOPLE black, white, and brown citizens with our 99% new immigrant citizens.
WHO IS THE CONSUMER FOR WHICH QUINN IS WORKING? GLOBAL CORPORATIONS ARE CONSUMERS OF GLOBAL LABOR FORCE AS HUMAN CAPITAL.
THE UNITED NATIONS PROTEST IN SUPPORT OF SANCTUARY CITIES/STATES WAS SIMPLY CREATING REASONS TO BUILD DENSITY HERE IN US FOR THESE SAME EXPLOITATION IN US FOREIGN ECONOMIC ZONES.
This is the first thing our newly updated 2012 ENTERPRISE ZONE policies do----it assures that new immigrants brought to US will be exploited and brutalized here as was done overseas. Those not working get to participate in US FAILED STATE city gangland as freemasonry.
All of these few decades of continuous wars overseas to create REFUGEES that then are shipped to overseas FOREIGN ECONOMIC ZONES as slave labor----that is what 2012 updated ENTERPRISE ZONE policies bring to our US FOREIGN ECONOMIC ZONES---EXTENDED.
Why jobs in special economic zones won’t solve the problems facing the world’s refugees
April 6, 2017 6.45am EDT
Author
- Heaven Crawley Research Professor, Coventry University
Heaven Crawley receives funding from the Economic and Social Research Council (ESRC)
Syrian refugees on the Jordanian side of the border wait to enter a medical clinic in March 2017. Jamal Nasrallah/EPA
In a new book, two Oxford professors, Alexander Betts and Paul Collier, are calling on politicians to harness “the remarkable opportunities of globalisation” to reorient the refugee system away from humanitarian assistance and towards development. Focusing primarily on the arrival of large numbers of Syrian refugees in Europe during the course of 2015, they argue that the refugee system has failed to provide long-term solutions for refugees who are left festering in underfunded “humanitarian silos”.
One of the “big ideas” Betts and Collier present is that global capitalism can ride to the rescue of the refugee system through the creation of jobs for refugees within special economic zones (SEZs) in countries such as Jordan, currently host to around 650,000 Syrian refugees. SEZs are designated areas with special economic regulations intended to attract foreign direct investment.
The proposition is a simple one: provide companies with tax incentives and opportunities for trade in return for providing refugees with opportunities for work, autonomy and self-reliance. They argue this will create a “win-win” situation for both the developing countries which carry the burden of supporting the majority of the world’s refugees with limited resources, and the rich countries struggling politically to manage the consequences of increased irregular migration.
But as I argue in a review published in the journal Nature, neither the book’s diagnosis nor its vision take us closer to a solution because it engages only partially with the complex political and economic realities facing the world’s refugees.
New wine in old bottles
The idea of harnessing the skills and capabilities of refugees for development is far from new. In the 1960s, UNHCR – the UN’s Refugee Agency – tried to link its refugee assistance programmes with development aid. From the early 1980s, there was a strong emphasis on what came to be known as “refugee aid and development” programmes, with the aim of moving refugees towards self-sufficiency and a durable solution to their situation.
But the increased interest shown by the EU and international organisations such as the World Bank is certainly new and clearly reflects more recent political and economic developments – particularly in the EU and Jordan. The EU has been desperately try to find ways to limit the number of refugees arriving in Europe. Jordan’s economic woes, which are longstanding, have been exacerbated by the arrival of large numbers of Syrian refugees.
These political and economic interests came together in the Jordan Compact, which was signed in London in February 2016. The agreement provides a $2.1 billion aid package to Jordan on the condition that jobs are created for Syrian refugees who, for the past five years, have been barred from legally working in the kingdom.
At the same time, multilateral development banks said there was potential to offer as much as $1.9 billion in concessional financing, and the EU has agreed to waive taxes and quotas for products created using Syrian labour. Jordan will also allow legal employment for the hundreds of thousands of Syrians outside the zones, without putting them in direct competition with Jordanians. The aim is to create as many as 200,000 jobs for Syrian refugees over the next five years.
A Syrian boy sells slippers at the Zaatari refugee camp in Jordan in 2016. Jamal Nasrallah/EPA
Employment is not the same as protection
While globalisation has undoubtedly lifted millions of people out of poverty, it has also been associated with exploitation and marginalisation. Evidence from SEZs in Asia shows how labour rights have been compromised, resulting in extremely low wages, forced overtime and different forms of abuse. So much so that in India they have been dubbed “special exploitation zones”.
But the problem with SEZs is bigger than this.
Around 5m people have been forced to leave Syria and are currently hosted by Turkey, Jordan and Lebanon. But the majority of the world’s 21m refugees are living elsewhere, predominantly in countries in which there is ongoing conflict or with whom relations with the West are distinctly strained.
It is hard to imagine international organisations funding the employment of refugees in SEZs in the Islamic Republic of Iran. Iran is currently host to nearly a million refugees mainly from Afghanistan who face discrimination and exclusion from the labour market.
Or Chad, host to more than 360,000 refugees mainly from surrounding countries which are reeling from attacks by the militant group Boko Haram.
Or Sudan, with an estimated 356,000 refugees, whose president, Omar al-Bashir, is facing an International Criminal Court arrest warrant alleging war crimes and crimes against humanity.
And in Ethiopia where the EU has signed a similar agreement to the one in Jordan. Here, my discussions with those working on the ground suggest there is growing resistance to the idea of new jobs being “ring-fenced” for refugees.
Crucially, the focus on creating employment does not address the problem at the heart of the refugee system: the failure of the international community to step up to its responsibilities under international law to provide protection for those who are fleeing conflict, persecution and human rights abuse.
It is also questionable whether employment in semi- or low-skilled jobs in neighbouring countries could prevent people from moving on to Europe or beyond. Recent research my team and I did interviewing 500 refugees and migrants who crossed the Mediterranean to Europe during 2015 found that many had moved not just because of a lack of work but because of a lack of protection, security, education and healthcare for their children.
Is it working?
In the period since Betts and Collier first suggested that SEZs would help mend the broken refugee system in late 2015, a number of governments and organisations have lined up behind the proposal. But even in Jordan doubts are starting to creep in.
More than a year since the Compact agreement was signed, Jordan has secured $923.6m in funding, but the hoped-for results haven’t yet materialised. Although Syrians in Jordan were able to get work visas from April 2016, the humanitarian news agency IRIN reported that according to Jordan’s Ministry of Labour, by February 2017, 38,516 permits had been issued. This means that the Jordan Compact has so far benefited a small proportion of refugees despite huge political and financial effort.
The reasons are complex but at heart they reflect a failure on the part of governments and international organisations to engage with the complex realities of the Jordanian labour market – which is already highly dependent on migrant labour – and the needs and aspirations of refugees themselves.
Within SEZs, the jobs on offer are typically low- or semi-skilled with long and repetitive hours. Those who have tried to hire Syrians in larger numbers, for example within the garment industry, have found that the take-up has been poor. Whereas other migrant workers are typically single, many Syrians struggle with childcare responsibilities and poor transport links from the places they are living to SEZs.
In practice, for many Syrians the gains of being legally employed are simply not worth the losses. Some refugees fear losing access to financial support or the opportunity to join family members who are have already moved to other countries. Others prefer to remain under the radar rather than risk registering with a government they don’t fully trust.
And although they are also allowed to apply for work permits outside of the SEZs, Syrian refugees are barred from applying for jobs as accountants, doctors, engineers, lawyers and teachers for which they have previously been trained but which are viewed as potentially taking opportunities from Jordanian workers.
It would be easy to dismiss all of these points as an unnecessary distraction from the central proposition put forward by Betts and Collier, namely the need to address the problems facing the refugee system by focusing on development rather than humanitarianism, empowerment rather than dependency. But details are important.
SEZs are a tool for creating livelihood opportunities for some refugees in some contexts. But addressing the profoundly political problems that underpin the drivers of forced migration and have come to mark the international community’s response to it will require far more creative thinking. And it will require the kind of alliances and allegiances that challenge and confront some of the profound inequalities with which global capitalism has come to be associated.
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'Newly formed corporations located in a zone qualify for a 100% corporate tax credit for their first three taxable years and a 50% tax credit for the next seven taxable years. The corporation must have: (1) at least 375 employees, of which at least 40% are either zone residents or are residents of the municipality and who qualify for the Workforce Investment Act'
As we see above-----corporations hiring at least 375 workers------are not local businesses. What was US tax money being sent overseas is being handed to multi-national corporations coming back to US.
THAT IS THE UPDATE. TAX BREAKS GIVEN TO US CORPORATIONS EXPANDING OVERSEAS NOW BEING GIVEN TO ANY FOREIGN NATIONAL CORPORATION LOCATING IN US FOREIGN ECONOMIC ZONES.
Below we see India with its FAR-RIGHT WING installing the same in 2000---
Cash cows - India's Special Economic Zones - The Economist
www.economist.com/asia/2006/10/12/cash-cows
Oct 12, 2006 ... India's Special Economic Zones
Cash cows ... Print edition | Asia ... will attract more than $5 billion in foreign direct investment by the end of ... that farmers are being forced to sell their land and lose their occupations
SEZ ASpIrAtIonS
The first official mention of SEZs in India was in 2000, when
the right wing National democratic Alliance (NdA) government
An overall evaluation of the SEZ endeavor is a complicated exercise involving the balancing of costs associated with problems such as land acquisition and displacement against the potential generation of wealth and employment. The extensive protest against SEZs in many parts of India further complicates the analysis.
JAIvIR SINGh announced a SEZ Policy which hoped to not only establish Special Economic Zones all over the country
What GOV QUINN in ILLINOIS is doing with this 2012 ENTERPRISE ZONE update is as explained below-----it is creating a network of Foreign Economic Zones across Illinois with clauses promoting the expansion of these zones eminent domain-----move over Illinois communities-----BY DEMAND. BY DEMAND of whom? The global corporate campus headquarters installed as a FOOTPRINT these few decades.
'The UIRVDA plan, in contrast, will acquire its geographic layout only as particular projects are approved by the agency’s board of directors. The zone will be created when the first development project is approved, and the connecting lines will be established as later projects are approved in other locations within the nine-county region.
“The way this enterprise zone is going to work is they will extend the zone by project,” Kroeschen explained. “It’s kind of a zone-by-demand, I guess, would be the best way to say it.”'
BY-DEMAND extension of FOREIGN ECONOMIC ZONES------is how a US state real estate is consolidated and handed by eminent domain----to any size global corporate campus. Nothing is tied to local businesses---no control over which corporations are installed.
Here in MD that means a Prince George's County Enterprise Zone can extend to reach our Baltimore City Enterprise Zone can extend to reach our Maryland Eastern Shore Enterprise Zones-----without any voice of 99% of citizens in all those MD----our IL communities.
Marshall County looking at ‘by-demand’ Enterprise Zone
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By Gary L. Smith
of the Journal Star
Posted Jan 8, 2017 at 5:09 PMLACON --
The former Marshall County Enterprise Zone appears likely to be replaced by participation in a sprawling “zone-by-demand” that could stretch across nine counties.
That’s the latest configuration envisioned for the county’s possible participation in a zone expected to be created by the Ottawa-based Upper Illinois River Valley Development Authority.
UIRVDA, one of 10 state-created regional development agencies in Illinois, serves Bureau, Grundy, Kane, Kendall, Lake, LaSalle, Marshall, McHenry and Putnam counties. The agency can issue bonds to help finance capital improvements, and it also has the authority to create an enterprise zone that can extend property and sales tax benefits to new businesses or expansion projects.
The enterprise zone power became of special interest to local officials after Marshall County failed twice to secure approval from the Illinois Department of Commerce and Economic Opportunity to extend the zone that was formed in 1993 but expired last year.
“We were not successful, so this (UIRVDA option) was like an out-of-the-blue thing for us,” County Board Chairman Gary Kroeschen said last week at a committee meeting.
But the regional zone will be very different from the setup that the county previously had in place. The county’s consisted of specifically defined areas in and around the participating municipalities of Henry, Lacon, Sparland, Toluca, and Wenona, all joined by a narrow strip of land running along the highways between the communities.
The UIRVDA plan, in contrast, will acquire its geographic layout only as particular projects are approved by the agency’s board of directors. The zone will be created when the first development project is approved, and the connecting lines will be established as later projects are approved in other locations within the nine-county region.
“The way this enterprise zone is going to work is they will extend the zone by project,” Kroeschen explained. “It’s kind of a zone-by-demand, I guess, would be the best way to say it.”
Three projects in other areas are expected to be considered soon by the UIRVDA board, said Bob Bakewell, who is a member of that panel as well as the county board. Marshall County currently has no pending or potential projects that might qualify, officials said at the meeting.
“You have to have a project to get benefits,” Bakewell noted.
But the original zone assisted in 55 to 60 projects over its 23-year life, according to information presented at earlier meetings. While some municipalities have tax-increment financing districts that can offer some similar benefits, the enterprise zone was the only development tool available in other parts of the county.
County Board Vice Chairman Travis McGlasson said he and another member expect to meet soon with a consulting agency to discuss the possibility of submitting a third application to roughly duplicate the original zone. But the expense of doing so and the difficulty in succeeding make the UIRVDA option seem the most viable at this point, he indicated.
“At least for the time being,” McGlasson said, “if we want to be in an enterprise zone, we’re exploring that.”
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Here is that global corporate campus headquarters as we have shouted it will expand to take all of West Baltimore and the NEW UPDATED ENTERPRISE ZONE policies will say this global campus has eminent domain over any real estate over any communities in its way. Remember, this global UNDERARMOUR campus does not only build global factories tied to its own sports products---it can and will merge or be acquired by ANY multi-national corporation ----all the bragging about UNDERARMOUR being a HOMETOWN BALTIMORE CORPORATION is PRETENSE for installing this FOOTPRINT.
So, BY-DEMAND ENTERPRISE ZONE policies will allow this one global corporate campus ---today called UNDERARMOUR to extend in any direction-----of course the same would take place in Prince George's County ENTERPRISE ZONES to the point these two zones join into ONE SUPER-DUPER GIANT CHINESE-STYLE FOREIGN ECONOMIC ZONE---all eminent domain---no voice from 99% of MARYLAND WE THE PEOPLE----no voice from 99% WE THE ILLINOIS PEOPLE----no voice from 99% WE THE CALIFORNIA----WE THE TEXAS people.
UnderArmour is already staggering towards what will be that merger and acquisition----but that ENTERPRISE ZONE policy goes to whatever multi-national corporation buys it.
All these policies installed in 2012 during OBAMA era---by CLINTON/BUSH/OBAMA. When they push your community out of existence don't blame the current MADMAN AS US PRESIDENT.
Port Covington land is space for Under Armour to grow
Natalie ShermanContact Reporter
The Baltimore Sun
Kevin Plank plans Under Armour campus at Port Covington
Under Armour CEO Kevin Plank said Monday that he wants to create a new neighborhood on the waterfront acreage he has assembed in Port Covington, anchored by a relocated Under Armour headquarters and enlivened by shopping, restaurants, a distillery and horse stables.
The Port Covington land secures room for Under Armour to grow unencumbered by space limits and tensions with residents and neighboring businesess, said Plank, who founded the Baltimore-based sports apparel brand, which passed $3 billion in revenue last year.
"I do not want to limit how big of a company or how great of a company Under Armour can be because we're landlocked," he said. "It gives us an outlet from here and it allows us to do it from one central place."
Plank's first public comments on his ambitions for the South Baltimore peninsula came Monday as several smaller projects get underway.
His real estate firm, Sagamore Development, plans to break ground Wednesday on the Recreation Pier hotel in Fells Point, where it plans to open a 128-room inn around the end of 2016. It is scheduled to present plans Thursday for a rye distillery in Port Covington. The firm is also in the process of converting the former Port Covington Sam's Club into Under Armour offices, with employees moving in around the end of this year.
The 5.21-acre waterfront property off East Cromwell Street is zoned for mixed-use development and includes piers that could be used as a marina. An auction of the land is set for June 14. (Patrick Maynard / Tribune)
Plank said he wants to build a mixed-use community on the waterfront that combines an Under Armour campus with other elements that would draw people to the area. If approved, the Sagamore Spirits distillery would be open for tours and have a restaurant. Sagamore also is talking to the Police Department about building a stable for its horses next to the distillery, helping to evoke Plank's Sagamore Farm, where he breeds and trains thoroughbred racing horses in Baltimore County.
In addition to the distillery, the area would one day likely have a showcase Under Armour store, drawing visitors from Interstate 95.
"I think what makes a great campus is lots of different elements and not just simply a corporate campus where everyone disappears at 5 or 6 o'clock at night," he said. "Port Covington has never had any love. It's a beautiful place. … It just needs someone to give it a hug."
Plank has assembled more than 120 acres in Port Covington, a former industrial area once largely controlled by the CSX railroad and its predecessors. In the 1980s, the city targeted the area for redevelopment as The Baltimore Sun relocated its presses there, but little development followed until 2002 when Wal-Mart and Sam's Club opened stores there.
Sagamore's holdings include both stores, the former Baltimore Sun property, where the newspaper's printing press still operates, now-crumbling piers on the peninsula's east side, and the Schuster Concrete facility. Sagamore is also the owner of the Nick's Fish House property and the adjacent marina.
On land acquisition alone, Sagamore already has invested more than $90 million in the area. Plank declined to discuss specific parcels but said additional purchases are in the works. There's no firm timeline and a master plan still is being developed.
Sagamore is focused on developing the vacant land first, said Marc Weller, president of Sagamore Development. Negotiations with existing tenants on the site are continuing.
Plank said some, such as the Wal-Mart, may need to relocate to make way for the development.
The Baltimore Sun has a long-term lease on its printing plant, which Sagamore purchased for $46.5 million in December from Tribune Media Co., which retained Tribune Co.'s broadcast and real estate assets last year when it spun off its newspapers as Tribune Publishing Co..
Eventually, Under Armour could consolidate its Baltimore operations in Port Covington, but any final decision about that is years away, Plank said. Under Armour purchased its Tide Point campus in 2011 for $60.5 million.
"We want to create one of the world's greatest campuses that is filled with vibrancy and includes all the things you would see in a great mixed-use environment as well," said Weller, a Washington-area developer and friend of Plank's since their teenage years. "Under Armour is first priority."
About 2,000 people work at Under Armour's Tide Point headquarters and in other offices around the city, including Harbor East, Plank said. The firm, which employs about 10,700 people worldwide, also has offices in New York, San Francisco, Portland, Ore., and Austin, Texas.
Baltimore Development Corp. President Bill Cole said he has spoken to Sagamore about the early outlines of what a vision for the area might include. He said he believes Plank's investment in the area is "great for everybody involved."
"I don't think anybody who looks at Port Covington sees its highest and best use as it presently sits," he said. "The level of investment and interest in making it something a bit more dynamic is great."
Plank said he decided to go into real estate after being rebuffed by the board of the Baltimore Museum of Industry in 2012 when he proposed an expansion that would have included its Locust Point property. The museum has declined previously to comment on Under Armour's presentation, saying it has a policy of not discussing private meetings.
"I'm sitting there and I'm thinking to myself this is awful. … They're stifling our growth," he said. "How could anyone not want us to grow?"
The rejection came while he was in Dubai, a city that has experienced a massive building boom in the last decade.
"I thought to myself, we could do something like that," he said. "Number one, I've got the engine in Under Armour. Number two ... I can afford to make these decisions, so why am I waiting on [the Museum of Industry] board of directors?"
Today, Sagamore Development employs 13 people, Weller said. The firm operates as a unit of Plank Industries, the firm established to handle Plank's private investments, which is guided by the principle that investments should provide at least some tangential benefit to Under Armour.
Plank said improving the city through investments such as the Recreation Pier hotel will make it easier to attract the best talent to Under Armour, while ensuring a good impression for its visitors. It also allows Under Armour to focus on its core business, he said.
"Obviously, it's a very delicate line, but it's one in which our interests are completely aligned," he said of the balance between his private investments and the publicly traded company, of which he remains the largest shareholder. "The better I make my company, the better I make the city, the better we make this area, it makes it easier to attract people."
Cole said he expects Plank will have an easier time with his plans to grow in Port Covington than in a crowded residential and industrial area like Locust Point.
"The Port Covington site itself is a much more appealing area because it has far fewer complicating factors," said Cole, who represented Locust Point as a city councilman before taking the BDC job. "It's a blank slate for the most part."
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When our public universities tie themselves completely to MOVING FORWARD ONE WORLD for only the global 1% ----as we see below----Towson and University of Maryland are two corporate universities MOVING FORWARD what will become Chinese-style consolidation of all real estate in Baltimore/Greater Baltimore with global banking 1% using these corporate university campuses as eminent domain for the global corporations that engulf them. Global hedge fund IVY LEAGUE Johns Hopkins having been made ENTERPRISE ZONE is now doing just that. Again, if you think a local name will end up being the extending global corporate campus in a decade or two-----you haven't studied how these FOREIGN ECONOMIC ZONES overseas took entire massive regions.
So, it is our US public universities which should be leading fight against ENTERPRISE ZONE AND ITS UPDATED POLICIES----but a state governor as O'MALLEY now HOGAN appoints these public university leaders ----so, where is the 99% WE THE PEOPLE student activism against all these policies ending their futures? They are MARCHING for SANCTUARY CITIES/STATES under the guise of helping new immigrants.
This ENTERPRISE ZONE tied to TOWSON UNIVERSITY has nothing to do with local development. It will be used for eminent domain by whatever global corporation enfolds Towson into its campus.
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Towson University reaches ‘milestone’ pursuing enterprise zone
Towson University and its surrounding area are one step closer to being granted a special designation by Maryland providing certain businesses tax breaks. The…
thedailyrecord.com
