Posted by Art Marroquin Staff Writer of the DailyBreeze.com. Click here to go to the entire article. A few summary quotes follow below.
Hoping to spur job creation near Los Angeles International Airport, officials on Monday announced the creation of an enterprise zone offering economic incentives to businesses in the area.
The program, which targets businesses within 1,078 acres of industrial and commercial land surrounding LAX, had languished for nearly a year as negotiations stalled between city and state departments.
Approval of the zone was expedited last month when Mayor Antonio Villaraigosa discussed the issue with Gov. Arnold Schwarzenegger after they announced that Chinese automobile manufacturer BYD was moving its North America headquarters to Los Angeles.
Earlier this month, city officials expanded an enterprise zone in the San Fernando Valley to 5,444 acres.
The LAX and San Fernando Valley enterprise zones, along with the arrival of the BYD manufacturing plant, could create more than 25,000 jobs in Los Angeles, according to Deputy Mayor Austin Beutner.