State Enterprise Zone Benefits Local Firms
Special zoning status means savings for businesses
The City of Santa Clarita issued a record number of certificates for the Santa Clarita Enterprise Zone this September, which is the most in the history of the State program. The Santa Clarita businesses community has realized substantial tax savings since the City received its official Enterprise Zone designation from the State in July 2007.
In September 2009, the City issued a record 180 certificates for Enterprise Zone hiring tax credits. This amount is the highest number of certificates issued in a single month to date, with a potential savings of more than $6.7 million directly for City-based businesses.
Old Town Newhall's Egg Plantation restaurant is one of the many local businesses taking advantage of the hiring tax credit option in the Santa Clarita Enterprise Zone.
"The City's Enterprise Zone is an incredible program. Being a part of it has saved our business on our California taxes and positively impacted our bottom line," commented Simon Mee, owner of Egg Plantation.
The increase in certificates issued is attributed to enhanced outreach efforts as part of the goals of the 21-Point Business Plan for Progress, which includes increased Enterprise Zone marketing outreach to get the word out to as many businesses as possible. This effort has resulted in a significant increase in the number of vouchers received by the City. Approximately 97 percent of all commercial, business, and industrial-zoned land within the City of Santa Clarita is included in the boundaries of the Santa Clarita Enterprise Zone.
"If you're doing business in Santa Clarita, you should be taking advantage of the Enterprise Zone benefits," commented Mayor Frank Ferry.
For more information about the Santa Clarita Enterprise Zone and the benefits for businesses located in the Santa Clarita Enterprise Zone, please contact the City of Santa Clarita's Economic Development Office at (661) 255-4347, or visit the City's Enterprise Zone website at www.SCEnterpriseZone.com.