The budget released today completely eliminates all of California’s 42 Enterprise Zones.  It also takes away all prior credit carryover.  However, many see this is a starting point for negotiations.  

Assemblyman Dan Logue, R-Linda, who opposes eliminating enterprise zones, said the state needs to do more to create jobs, not less.“The governor has to realize that to create wealth and revenue, you have to give businesses a reason to develop in an area,” said Logue.

He added in the last decade, the majority of new jobs created in California came in areas where there were enterprise zones.  But because the initial budget proposal from the governor often undergoes several revisions before it’s passed and signed, Logue said, Brown may be including the cuts as a negotiating tactic.

Read the full article here.

Tags: california, california tax law, california tax news, Enterprise Zone, enterprise zone news, Enterprise Zones, governor, hiring credits, hiring tax credit, hiring tax credits, Jerry Brown, Tax News

This entry was posted on Monday, January 10th, 2011 at 12:41 pm and is filed under Enterprise Zones, Tax News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.