Status of San Diego Regional Enterprise Zone After working very hard to express the needs of the local business community within the boundaries of the San Diego Regional Enterprise Zone Program (SDREZ) to Sacramento legislators, the San Diego Regional Enterprise Zone Partnership (Cities of Chula Vista, National City and San Diego and the Port of San Diego), with the help of regional economic development partners, the South County Economic Development Council, the National City Chamber of Commerce, Otay Mesa Chamber of Commerce, Chula Vista Chamber of Commerce, the San Ysidro Chamber of Commerce and much help and input from local businesses, were successful in getting some language included AB 93 and SB 90 that may benefit the region. Many thanks to everyone who helped in this collaborative effort especially the region’s local and state legislators. With the State of California’s implementation of new economic development incentives, the San Diego Regional Enterprise Zone Program, as we know it, will end on December 31, 2013. Even though AB 93 effectively eliminates tax incentives associated with Enterprise Zone Program as well as eliminates the statewide Small Business New Hire Tax Credit and are replaced with other incentives, businesses in the San Diego Regional Enterprise Zone and LAMBRA still have the opportunity to earn tax credits for hiring qualified employees and making qualifying equipment purchases through December 31, 2013. Here’s how: ? If you hired an “EZ eligible” employee in the last couple of years and have not yet obtained an Enterprise Zone Hiring Certificate, you should do so NOW, DO NOT WAIT. ? If you are thinking of hiring new employees in the near future and would like to take advantage of the credit, IT IS NOT TOO LATE! Employees hired before 12/31/13 may still be eligible and you can continue to claim the EZ Hiring Credit for up to 5 years; as long as the employee remains employed with your company in the Enterprise Zone or LAMBRA. ? If purchasing new qualifying equipment, contact your accountant to determine if the EZ or LAMBRA Sales or Use Tax Credit OR the new Sales and Use Tax Exemption is more beneficial to your business. There are still many questions about AB 93 and will continue to provide updates as new information becomes available. To receive these updates, register your email at https://www.facebook.com/#!/SDRegionalEZ?fref=ts or email the SDREZ Manager at email@example.com
San Diego Regional Enterprise Zone website: http://www.sandiegoregionalez.org/
Companies share experiences and talk about the benefits of being part of the San Diego Regional Enterprise Zone.
City Hall, 1243 National City Blvd, National City, California 91950 | Phone: (619) 336-4241 Fax: (619) 336-4239