development area

development area
development area development area ➔ area

* * *

development area UK US noun [C] ECONOMICS, GOVERNMENT, PROPERTY
► an area of a country, especially a poor area with a lot of unemployed people, where the government tries to encourage economic development by offering financial advantages to people who start companies, factories, etc. there: »

It is a government development area with tax advantages.

► an area that a local government decides will be used for new businesses, industry, housing, etc.: »

Within the development area itself, smaller 'artisan' units will cater for more specialist professional companies, such as lawyers and architects.

→ Compare DEVELOPMENT LAND(Cf. ↑development land), DEVELOPMENT ZONE(Cf. ↑development zone)

Financial and business terms. 2012.

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