Renewal Community Information Sheet

By focusing on marshaling the support and commitments of key players in State and local governments and emphasizing forming alliances with businesses and local community-based organizations, the Renewal Community Initiative offers Federal tax breaks and provides a framework for State and local governments to offer incentives and other benefits. The initiative does not provide Federal funds.

By encouraging job development and retention, the RC initiative helps residents gain employment, succeed in their jobs, and become economically self-sufficient. The increase in business activity that results from these actions will provide economic growth and benefits to the RC and the surrounding community. The RC initiative creates a structure that fosters partnerships. Federal, State and local governments, community organizations, and businesses all play a role.

State and local governments have developed and committed to and will now implement a Course of Action that becomes the framework of the local RC initiative.