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California Enterprise Zones: Key to a Better Tomorrow?
This blog is dedicated to discussing the California Enterprise Zone program in detail, so we’re obviously bias on the benefits that these zones gives to businesses. However this past week a new study by several leading USC professors reveal that the California Enterprise Zones are truly a bright spot for the State and can aid in re-building local economies. This study took into account decades of economic data in the state and proves the program not only works, but also will continue to help the state and its citizens.
“If you’re going to eradicate a program, you need to evaluate it on the number of outcomes and we found these programs had a positive impact,” said Swenson, a professor at the USC Marshall School of Business and Leventhal research fellow, who is an expert on state taxation. “It’s the only program we have that gives tax breaks and in a time of economic downturn. The last thing you’d want to do is cut a program that increases jobs and decreases poverty.”
They’ve discovered statistical data illustrating that enterprise zone programs aid local economic sectors by creating jobs and increasing incomes, as well as reducing poverty and unemployment rates.
“For California, we found that enterprise zones increased employment by 2.2 percent and increased the fraction of houses with wage and salary income by 2.1 percent,” said Swenson, adding that the programs have had a positive effect for all categories in all states that have them.
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