Reagan-Carter Presidential Debate: on Welfare & Poverty

Ronald Reagan: Development zones to reverse decline of our cities

REAGAN: In the inner-city areas, that in cooperation with local government and with National Government, and using tax incentives and with cooperation with the private sector, that we have development zones. Let the local entity, the city, declare this particular area, based on the standards of the percentage of people on welfare, unemployed, and so forth, in that area. And then, through tax incentives, induce the creation of businesses providing jobs and so forth in those areas. Through these tax incentives, a business that would not have, for a period of time, an increase in the property tax reflecting its development of the unused property that it was making wouldn't be any loss to the city, because the city isn't getting any tax from that now.