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  • GOVERNOR’S “MAY REVISE” SHIFTS MONEY FROM ENTERPRISE ZONES

    Posted: July 25, 2013 | Posted by Crystal Whitfield | No Comments

    The Governor’s May Revise budget proposal seeks to eliminate the Enterprise Zone tax credits, representing a $730 million tax increase imposed upon economically distressed communities.  We believe that Enterprise Zones (EZ) are one of the only remaining economic development tools for California’s local governments and help stimulate economic growth and attract and retain jobs to their areas.  The money is shifted away from minority and disadvantaged communities in favor of new statewide tax benefits that take away control from local agencies to be able to target areas in need.

    Enterprise zones across the state create and retain critical jobs, helping millions of Californians who live in economically depressed regions, including minorities, veterans, displaced workers, recipients of government assistance, and residents in poor communities.  Last year alone, Enterprise Zones led to the creation of new jobs for more than 25,000 Californians and kept another 115,000 employed.

    For more information about California’s Enterprise Zone program click here.

     



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