Friday, July 27, 2007

State Enterprise Zones

Building off the success of the Garcetti-Greuel Tax Reform Package that has returned $92 million in gross receipts tax to small businesses, I once again joined my colleague Wendy Greuel in introducing a measure that would expand the business tax incentive to all businesses in the newly minted state enterprise zones. These zones are designated by the state based on poverty statistics and provide state tax breaks that seed growth and job creation in some of our poorest communities. By coupling local incentives with the state tax break, we can build sustainable businesses that will provide high-quality jobs for generations.