Porterville has the distinction of being one of California’s first Enterprise Zones.  Established in 1986, the Enterprise Zone allows for special state and local incentives to encourage business investment and promote the creation of new jobs.  The Enterprise Zone boundaries are roughly described as Highway 65 east to Plano Street, from Olive Avenue south to Gibbons Avenue. Companies located in the Enterprise Zone are eligible to receive the following tax credits and benefits:

• Hiring Credits
• Sales or Use Tax Credit
• Business Expense Deduction
• Net Operating Loss Carryover (NOL)
• Net Interest Deduction for Lenders
• Preference Points on State Contracts
• Preference Points on Industrial Development Bonds
• Expeditious processing of plans and permits
• 10 year, 0% payment plan for permits and development fees

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This entry was posted on Monday, March 2nd, 2009 at 5:43 am and is filed under Featured Zone. 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.