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The Epic Interactive Encyclopedia 1997
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1992-09-02
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Special zones designated by government to
encourage industrial and commercial activity,
usually in economically depressed areas.
Investment is attracted by means of tax
reduction and other financial incentives. In
the UK, enterprise zones were introduced in
1980 to encourage regional investment in
areas such as the depressed inner cities.
Industrial and commercial property are exempt
from rates, development land tax and from
certain other restrictions. The Isle of Dogs
in London's docklands was extensively
developed as an enterprise zone during the
1980s.