City celebrates designation
The City of Santa Clarita is proud to announce that the Santa Clarita Enterprise Zone received Final Designation from the State of California on July 1, 2007.
The Enterprise Zone designation will provide substantial opportunities for new and existing business growth and job generation in Santa Clarita. Tax advantages include Hiring Tax Credits, Sales or Use Tax Credits, Business Expense Deductions, Net Interest Deductions, and Net Operating Loss Carryover Deductions.
“The City of Santa Clarita is very excited to have received final designation for its Enterprise Zone, which will allow all of the businesses within the Zone to begin receiving incentives to promote business investment and job creation,” commented Mayor Marsha McLean. “Now, Santa Clarita will have a competitive edge in attracting new business, and retaining current business by creating an environment where business can be more successful.”
The tax incentives will provide taxpaying businesses investing, operating, or located within the Santa Clarita Enterprise Zone the opportunity to reduce costs.
Ninety seven percent of all commercial, business and industrial-zoned land within the City of Santa Clarita, consisting of approximately 13.5 square miles, is included in the boundaries of the Santa Clarita Enterprise Zone, allowing businesses located within the boundaries to be eligible to benefit.
“Santa Clarita is already known for being business-friendly, and this program should create substantial economic growth within the City for the next 15 years,” commented McLean.
For more information on 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 website at www.santa-clarita.com.