(1) The office shall: (a) review and evaluate the applications submitted under Section 63N-2-204; and (b) determine whether each county applicant or municipal applicant is eligible for designation as an enterprise zone. (2) (a) The office shall designate enterprise zones. (b) The office shall consider and evaluate an application using the following criteria: (i) the pervasiveness of poverty, unemployment, and general distress in the proposed zone; (ii) the extent of chronic abandonment, deterioration, or reduction in value of commercial, industrial, or residential structures in the proposed zone, and the extent of property tax arrearages in the proposed zone; (iii) the potential for new investment and economic development in the proposed zone; (iv) the county applicant's or municipal applicant's proposed use of other state and federal development funds or programs to increase the probability of new investment and development occurring; (v) the extent to which the projected development in the zone will provide employment to residents of the county and particularly individuals who are unemployed or who are economically disadvantaged; (vi) the degree to which the county applicant's or municipal applicant's application promotes innovative solutions to economic development problems and demonstrates local initiative; and (vii) other relevant factors that the office specifies in its recommendation. Renumbered and Amended by Chapter 283, 2015 General Session
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