Andrew Edwards, from The Sun, reports, “In 2009, managers of 99 businesses requested some 940 hiring vouchers, and 857 of those requests were approved. That’s about 57 percent more requests than 75 businesses filed in 2008.  Enterprise zone officials maintain that the hiring credits and other tax incentives made it possible for firms to create 132 new jobs and keep another 725 on the books.  The 99 firms that sought tax incentives during the past year represent only a slice of businesses that could be eligible for enterprise zone-related perks.”

If your business in in San Bernardino or Colton, you may be eligible for numerous tax credits, contact us today to find out which tax credits you can apply for.

Randles reports that Assemblyman John Perez, D-Los Angeles, is sponsoring an amendment that would require businesses to hire full-time employees and give their employees health benefits to receive the full tax credits.

This would dramatically decrease the effectiveness of the EZ program, since the costs of the health benefits would essentially wipe out the savings from the Enterprise Zone credits.

This is an opportunity to get educated on tax credits and programs the business community can take advantage of in tax year 2009 AND begin planning for tax year 2010.

Details:
Friday. January 22, 2010
Registration 8-8:30 AM Event 8:30-10:30 AM
South County Regional Education Center
800 National City Blvd. National City

To RSVP:
Call: (619) 424 5143
Email: cindy@sandiegosouth.com

HESPERIA • The state has named Hesperia as one of five new enterprise zones that will allow businesses to generate millions of dollars in tax credits.
Hesperia, along with  along with Sacramento, Taft, Pittsburg and Tulare have been only conditionally designated at the moment, according to Steve Lantsberger, Hesperia’s head of economic development. But it’s essentially just a matter of some signing agreements between the California Department of Housing and Community Development and the city before it’s official.
“We spent a lot of time going through all of the requirements so that, if we were successful, there’d be very few things we’d have to do if we were conditionally designated,” he said Thursday. His office began working on the application 18 months ago, and the city will be an enterprise zone until 2024.
The enterprise zone covers most of the city, outside of residential areas. Businesses already operating in the zone as of Aug. 19 are eligible, as are new businesses.

ESCONDIDO — Escondido’s hopes of becoming an enterprise zone to boost its economy have been quashed.

It lost in the latest round of California Enterprise Zone applications to five other cities: Sacramento, Hesperia near Victorville, Pittsburg in the Bay Area, Tulare near Fresno, and Taft, north of Los Angeles.

“What a disappointment,” Mayor Lori Holt Pfeiler said. “We were hoping to add it as a tool to help revitalize our underused area (industrial district).”

The city had hoped to use an enterprise-zone designation and the tax credits it gives to businesses to attract high-tech corporations to diversify Escondido’s revenue.

Almost 40 percent of Escondido’s general fund income now comes from sales tax, which is plummeting and resulting in budget deficits.

In March, the city applied to the state Department of Housing and Community Development to become an enterprise zone, proposing an area that covered almost the entire city.

It was roughly bounded by Country Club Drive to the west, state Route 78 and El Norte Parkway to the north and Midway Drive to the east. The southern border jogged along Oak Hill Drive, Juniper Street, Centre City Parkway and Ninth Avenue.

But Escondido soon learned that it faced record competition, and this week, the department announced that the city lost.

John Nunn, the state’s enterprise-zone program manager, declined to explain the reasons, other than the city scored lower.