Local Businesses Continue to Fight for Enterprise Zone Funding
Monday, March 29th, 2010 | Enterprise ZonesThe Oakland Tribune reported this past week that local business leaders from San Bernardino are fighting to keep their enterprise zone benefits.
Wendy Clement, manager of the San Bernardino Valley Enterprise Zone, and local business owners traveled to Sacramento on Wednesday to ask lawmakers to continue funding the enterprise zone program, which gives tax breaks to businesses that relocate to or create jobs in a specific area.
Clement claims that there have been over 1,035 new jobs created in their enterprise zone, and the EZ program is one of the main catalysts for that growth.
Craig Johnson, president of the California Association of Enterprise Zones, said some lawmakers and state officials have proposed scaling back the enterprise zone program and its tax breaks, with the aim of bringing in money to balance the state’s books.
“They’re all scrambling for dollars,” Johnson said. “A lot of folks look at the tax credits that are taken and they believe that by abolishing the program, those credits will translate into more dollars in the treasury.” But that’s not true, Johnson said. Without the program and its tax breaks, some businesses would leave California and others would go out of business, he said.