Much of the older area of Oklahoma City has been designated as a federal Empowerment Zone. Residents living within the blue area of the map are considered living in the zone; businesses within both the blue and tan areas of the map are eligible for the zone's significant incentives and benefits.

Incentives for EZ businesses include:

Wage Credits: Tax credits of up to $3,000 for each employee—newly hired or already on the payroll—who lives and works in the EZ.
Bond Financing: Tax-exempt facility bonds to finance property, equipment and site development.

Tax Deductions: Increased expensing deductions—up to $35,000 for depreciable assets acquired this year.

The U.S. Department of Housing and Urban Development Empowerment Zone program was established to generate economic development in urban areas.

Other documents:

Empowerment Zone Map
updated March, 2003
Adobe Acrobat File, 146 KB

HUD Empowerment Zone Guide
Adobe Acrobat file, 1.79 MB

HUD Tax Incentive Guide for Small Businesses
Adobe Acrobat file, 868 KB

IRS Publication 954: Tax Incentives for Empowerment Zones
and Other Distressed Communities
Adobe Acrobat file, 115 KB

Tax Forms
Adobe Acrobat Files, 20-30 KB
3800 | 3800 Instructions
5884
8844
8850 | 8850 Instructions
8860
8861

Legislative Updates December 2004:

Census Tract 1032

Empowerment Zone Bonds

Development and Sale of Intangibles