On November 3rd 2006, California Governor Arnold Schwarzenegger announced that the City of Compton was one of 23 communities to receive a State Enterprise Zone Program. The state awarded the Enterprise Zone designations on a competitive basis. Compton’s application ranked 8th of the 25 applications approved for a California Enterprise Zone.

Compton invested thousands of hours of staff time, creative energy and knowledge, and paid out thousands of dollars for consulting support and environmental studies to prepare the EZ application. When completed the City’s application consisted literally two telephone books of documents, tables, GIS maps and other documentations required by the state for the City to have a responsive application. The City believes that the investment in securing the designation and developing a Compton Enterprise Zone Program will generate significant returns in the form of:

1. Business and industrial expansion and growth,
2. New businesses and industry cluster attraction,
3. Jobs and job opportunities for Compton residents ,and an
4. Infusion of new private sector equity capital and financing for Compton businesses.

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This entry was posted on Friday, December 12th, 2008 at 6:56 am and is filed under Enterprise Zones. 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.