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Wednesday, Jun 7, 2023

Santa Clarita Picked for Enterprise Zone

Santa Clarita is one of 23 new enterprise zones designated by the state, clearing the way for businesses in the city to receive tax breaks and other incentives to spur growth for the next 15 years. Starting next year, most businesses in Santa Clarita will be able to earn more than $30,000 in tax credits for each employee hired and receive tax credits of up to $20 million for purchasing machinery and parts. The zone will apply to most of Santa Clarita zoned as industrial and commercial. California has 42 enterprise zones, each expiring on a revolving basis. Twenty-three became available this year, which were bided for by hundreds of cities over the past year. Of those, the state and Gov. Arnold Schwarzenegger selected six new enterprise zones in Los Angeles County Hollywood, South Gate, Long Beach, Pasadena, Compton and Santa Clarita. None are in the Valley; an existing enterprise zone in the northeastern portion of the Valley was not renewed by the state.

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