Google+ Local is the replacement for Google’s business listings, Google Places. On May 30, 2012, Google Places was replaced by Google+ Local, which is essentially the hub of local business activity on Google. Google’s goal is to replace the Yellow Pages with Google+ Local.
Also, Google+ Local pages are the actual accounts where Google Trusted Photographers upload virtual tours of businesses.
Another feature of Google+ Local pages is the integration of Zagat reviews. Google acquired Zagat in September 2011, and now Google+ Local pages include all the professional (as well as amateur) reviews directly online.
Read more about Google+ (not Google+ Local).