White House Introduces 'Promise Zones' to Help Poor

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President Barack Obama plans to announce ways to help poor neighborhoods through five new "Promise Zones."

The project is part of the president's effort to address income inequality.

Under the proposed zones the federal government will partner with local governments and businesses to provide tax incentives and grants to help combat poverty.

Selected communities will be eligible for assistance designed to create jobs and improve education, housing, and public safety.

Obama first announced the initiative during last year's State of the Union but is just now revealing the first cities where they will be implemented.

The first Promise Zones will be located in San Antonio, Philadelphia, Los Angeles, Southeastern Kentucky, the Chocktaw Nation of Oklahoma.

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