The Promise Zones initiative builds on the existing efforts within the administration’s Neighborhood Revitalization Initiative (NRI). Having already invested more than $350 million in 100 of the nation’s persistently impoverished neighborhoods, Promise Zones will accelerate revitalization efforts by providing local leaders with access to intensive, on-the-ground technical assistance, tools and resources to help participating communities create jobs, increase economic activity, improve educational opportunities, reduce violent crime and leverage private investment.
In addition to this increased support, Promise Zones proposes using tax incentives – if approved by Congress - to promote job creation and investment within designated zones. CSSP’s brief highlights the combination of resources, technical assistance from federal agencies and tax incentives as a more comprehensive anti-poverty strategy that is likely to make an impact in communities that face complex and interrelated challenges. In addition, the brief draws attention to communities that have leveraged resources from several NRI programs in an effort to develop results-driven revitalization plans that address several community challenges, such as education and housing. The Promise Zones initiative builds on the lessons learned in these communities and throughout the community change field, providing communities with an opportunity to weave funding, work across sectors and receive the resources needed to address pressing and complex needs.
Want to learn more about Promise Zones and the communities that are eligible to apply? Check out CSSP’s Promise Zones Brief.
Want to learn more about tax incentives as an anti-poverty strategy? Check out CSSP's Policy for Results blog.
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