SACRAMENTO — Assembly Bill (AB) 93, a measure that will restore Antelope Valley’s expired Enterprise Zone, won bipartisan approval with a 54-16 vote and now moves to the Governor for approval, according to an announcement by Assemblymember Steve Fox (D-Palmdale).
“When I first took office and asked Mayor Ledford of Palmdale and Mayor Parris of Lancaster what I could do to help the Antelope Valley, they both said the Enterprise Zone needed to be restored,” said Fox. “The expansion of local hiring credits and incentives for manufacturing in our district will give our businesses and employers the help they have needed.”
AB 93 authorizes former enterprise zones to operate as current enterprise zones under a modified program. With AB 93, former enterprise zones and census tracts with the 25% highest unemployment and lowest income are eligible for this program—and much of the Antelope Valley qualifies.
Employers in these areas paying $12 to $28 per hour will receive a hiring credit. Qualified employees would include many unemployed veterans, recipients of the Earned Income Tax Credit, and people who have been unemployed for at least six months.
This bill also will eliminate the California portion of the sales tax for manufacturing equipment and research and development, for all companies statewide.
Companies bringing jobs and capital investment to California also will have an opportunity to negotiate tax incentives with the State.
“In my meetings with fellow legislators, I have learned that obtaining this tax incentive for local businesses has been a priority for many of us,” continued Fox. “I am heartened that the Governor agreed and we can now expand the hiring credit locally.”
UPDATED 7/1/13: The Governor and Legislature have approved the Enterprise Zone Reform Act.
(Information via press release from the office of Assemblymember Steve Fox.)