|North Sacramento enterprise zone expands
Sacramento Business Journal - December 11, 2006
Gov. Arnold Schwarzenegger has approved an expansion of the enterprise zone in north Sacramento, more than doubling it from 1,500 acres to 3,500 acres.
The Northern Sacramento Enterprise Zone is one of 23 new zones announced last week by the governor from 35 applications.
The Sacramento Housing and Redevelopment Agency filed the application.
The existing enterprise zone in northern Sacramento is credited with creating 700 jobs within the past five years. The newly expanded zone is expected to generate 100 jobs within the first year. The zone cover a patchwork of north city areas, including Del Paso Boulevard and portions surrounding Northgate Boulevard.
The California Enterprise Zone program targets economically distressed areas using state and local incentives to promote job creation. Those incentives include state income tax credits.
Certain businesses located within the zone can qualify for sales-tax credits and income tax credits that total $31,000 per employee over a five-year period, if they hire displaced or low-income workers, veterans or other qualifying employees, said Christine Weichert, an assistant director at SHRA.