California plans new business areas and the accent of renewable energy

Published on 15. Dec 2010

California’s Department, housing and community Development intends to create two new company in the areas of tax credits and other benefits, is aimed at companies in the renewable energy sources.

The Department said, it released a request for proposals will enter into force on 1 January 2011.

Officials also announced three new enterprise zones statewide, Anaheim, Harbor Gateway and Santa Clarita Valley conditional as well as designations of origin.

California company Zone-the program is geared towards economically distressed areas by using the State and local incentives for companies to promote investment and job creation. By fostering entrepreneurship and the growth of the employer, you will be asked to create and support the expansion of the economy.

“Schwarzenegger administration, as a result of the adoption of the last four years, since it was launched in 1986, the first new designations 36 company areas.  This program is necessary in order to be able to compete on the world market, attract and retain companies in California, at the same time, jobs with the status and the amount of local incentives, “said Lynn l. Jacobs, Director of the Department of Housing and community Development, the news release.

Undertakings entrusted with the operation of the company’s regions can receive substantial tax credits and benefits. Names will be set to expire at the end of the last 15 years, and replaced by new zones. The advantages are:

Companies can earn $ 37,440 or by a qualified majority on each of the Corporations of the employee’s credit can be hired. State sales tax to earn more tax credits in the 20 million dollars per year by a qualified majority on a proposal for the purchases of machines and machine parts. Up-front expensing of certain depreciation of property is available with the enterprise zone companies. [1] [2] Lenders may receive net interest is a product of Unused tax deduction. credits may be applied in the context of the year will make future tax payments by stretching out the initial investment for the benefit of the enterprise zone companies. [1] [2] may earn priority place state contracts. Up to 100 percent of the network operating loss can move forward. NET operating losses can be forward 15 years.

The next issue of the title is a designation for each new zones and the designation of a letter of conditional.  Letters to parse the conditions which must be met shall be granted to the Enterprise in order to define the region of final. The conditions are, for example, a unit that includes performance measures and benchmarks the memorandum of understanding signed with.

The Department said, it frees up proposals with regard to the request in January 2011-2012 will be made available to the August with conditional Awards 2011 Enterprise areas.  Has a strong focus on renewable energy sources, such as the Sun and the wind, this round of applications, add 100 bonus points for applications that show that this undertaking is to be made.

Enterprise Zone-the program is one of California’s largest and most successful economic development of the instruments. The Director-General of the Office of Economic Development, which was established earlier this year to help start, expand and maintain the operating companies in California, the Department of housing and community Development program on the market of companies in California.

“California’s economic recovery and its future growth greatly benefit from the other business incentives. I applaud Department, housing and community Development activities, to make room for more business, “said Joel Ayala, Senior Vice President of the Management Board of the Office of Economic Development. “The creation of two” Renewable Energy “enterprise Zones, California remains committed to develop tomorrow’s industry. Add the enterprise zones will lead to job creation and business investment, which will accelerate further in our economic recovery. ”

For more information about enterprise Zone-the program is available, visit http://www.hcd.ca.gov/fa/cdbg/ez.

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