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GOZA spurs Mississippi recovery efforts.

Article Excerpt
A glistening jewel in the hurricane redevelopment incentives passed by Congress last December is the creation of the Gulf Opportunity (GO) Zone.

Covering 49 Mississippi counties--representing more than half of the state--affected by Hurricane Katrina's rampage last year, the Gulf Opportunity Zone Act (GOZA) of 2005 is helping businesses rebuild and expand, and attracting new investment and new businesses.

The federal legislation contains more than a dozen Katrina-related tax incentives for the GO Zone, defined as that portion of the Katrina disaster area determined by President George W. Bush to warrant individual assistance from the federal government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act.

"The new law makes businesses throughout the hurricane-stricken zone eligible for many tax incentives designed to encourage businesses to reinvest in facilities and rehire Mississippi workers," said Sen. Trent Lott (R-Miss). "It helps our cities restructure their debt and increase the coast's housing supply."

Jay Norris, an attorney with Copeland, Cook Taylor & Bush. P.A., in...

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