California Governor Arnold Schwarzenegger issued a statement today encouraging the use of California’s enterprise zone program to create and sustain jobs in California. This is the latest in a number of not-so-subtle messages sent to the California legislature signaling the Governator’s support of the state’s enterprise zone program.
For many California businesses and communities touched by these zones, this is encouraging news – especially in the face of bills currently under consideration by the state Assembly that would significantly alter the program. The California enterprise zone program provides significant tax breaks to businesses that employ workers within a zone’s boundaries. In fact, the enterprise zone hiring credit offers as much as $12,000 in state income tax credits per EACH qualifying worker during their first year of employment.
Here’s the press release in full:
Governor Schwarzenegger Issues Statement on Employment Report
Governor Arnold Schwarzenegger today issued the following statement after the California Employment Development Department released employment numbers for the month of May:
“While the decline of our unemployment rate is welcome news, there are still far too many Californians out of work. To achieve a full recovery, there must be accelerated hiring in the private sector, and that’s exactly why we must not burden California employers and consumers with higher taxes. Now is the time for government to be a partner to economic growth, not an obstacle to it. Just this week, Baxter’s BioScience business announced it would continue investing in California because of the efforts of Los Angeles and my Administration to expand the East Los Angeles Enterprise Zone. These are the type of efforts we should focus on, and I encourage the legislature to consider this as they continue budget deliberations.”
California Governator Says YES to Enterprise Zones NO to Higher Taxes
