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The GO Zone: Federal Tax Redevelopment/Development Incentives In the Aftermath of Hurricane Katrina

In the worst natural disaster of recent history, parts of Louisiana, Mississippi and Alabama were ravaged by Hurricane Katrina. In December 2005 tax legislation was enacted to provide incentives for the redevelopment/development of the Katrina disaster area portions of Alabama, Louisiana and Mississippi – the Gulf Opportunity Zone or “GO Zone.” The GO Zone geographic area, as shown on the attached maps, is much broader than generally thought. In addition to the devastated coastal areas, the GO Zone includes larger portions of the affected states which saw comparatively little hurricane damage or disruption to local economies or infrastructure. For example, the GO Zone extends north of Jackson, Miss. and as far as Columbus, Miss. and Tuscaloosa, Ala. In Louisiana, the GO Zone includes not only New Orleans, but also Baton Rouge. click here.
Articles for November 2008