In exciting news for businesses located in West Berkeley, the Oakland City Council has announced that they have approved the expansion of the region’s enterprise zone to cover West Berkely, and the over 1,000 businesses that operate out of the city.

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.

Bayer, which we have recently covered, has been an integral component of the job market for the West Berkley region, and thanks to the Enterprise Zone program, the company has announced they have chosen to stay in the area.

“The enterprise really strengthened our proposal to stay,” said Sreejit Mohan, director of public policy and communication for Bayer.

It’s estimated that Bayer will save approximately $6 million dollars in tax spending. The company will also qualify to receive $36,000 for every worker they hire who meets several qualifications, specifically:

• Native Americans
• Veterans
• Low income individuals

This is another example of the Enterprise Zone program at work, helping to stabilize local economies and increasing job opportunities.