The Berkeley Daily Planet reports, “Berkeley’s primary motivation to pass the proposal was to keep Bayer Healthcare, the city’s largest private-sector employer, from leaving town. The company had threatened to outsource some of its manufacturing, a move city officials feared would lead to the pharmaceutical giant eventually shutting down its Aquatic Park campus entirely. As a result, Berkeley agreed to give Bayer $10 million in tax breaks for over two years, including a reduction in PG&E bills, as part of the enterprise zone, in return for which the company will remain in Berkeley and invest $100 million in the facility.”

This is exciting since it could help to bring new businesses into the area, and will help to offset the high cost of living in the area.