With the need for economic development, certain regions in California are strongly pushing for Enterprise Zone designation.  Most recently, Bruce Stenslie and Steve Kinney, of the Ventura County Star, had this to say about the value of the California Enterprise Zone program:

To understand why cities seek an enterprise-zone designation, and to evaluate its merits, it’s important to understand how it works. Enterprise zones are tied to areas that suffer higher-than-average unemployment and poverty. Businesses within an enterprise zone may receive tax credits for hiring new workers, but only for workers who reside within the enterprise zone or who face serious barriers to employment. The benefits for Oxnard are unique. We have high levels of joblessness in neighborhoods near the city’s industrial and commercial districts, but a disconnect between employers and residents. An enterprise-zone designation will place a premium on the skills developed by workers in the city, by rewarding business with a tax incentive for training and hiring local workers.

If you have a business in an Enterprise Zone, please contact us directly for a free consultation to see the tax credits that are available to you.