Can place-based policies generate spillovers beyond the places they target? We study this question in the context of India's 2005 Special Economic Zones Act. Using large language models, we reconstruct each zone's regulatory history over the last two decades. We assemble a novel dataset of exact zone boundaries and link it to India's 600,000 villages census data and geocoded addresses for 2.9 million firms. We compare locations near zones that start operations with those near zones that have not yet started. We find that operational zones generate substantial local activity. Sales rise by 35 percent for firms inside the zone and 6 percent for nearby firms, and these gains persist even after the tax holiday expires. In host villages, non-farm employment rises by 28 percent and the non-farm employment share by 4.3 percentage points over a ten-year period. Employment growth in host villages is concentrated in upstream industries supplying goods and services to firms inside the zones. Consistent with these demand linkages, new-firm entry near the zone shifts toward industries more exposed to demand from SEZ firms. These patterns are consistent with spillovers from zone openings reaching firms that receive no zone benefits.