description: California currently has four types of Geographically-Targeted Economic Development Areas (G-TEDAs). Each of
these areas has related tax incentive benefits as well as a variety of locally provided incentives and benefits. The purpose
of these benefits is to stimulate business investment and job creation for qualified disadvantaged individuals in state-designated
economically distressed areas.These areas are:Enterprise Zones (EZs)Local Agency Military Base Recovery Areas (LAMBRAs)Manufacturing
Enhancement Areas (MEAs)Targeted Tax Area (TTAs)Designated Enterprise Zones provide tax incentives to businesses and allow
private-sector market forces to revive the local economy. The Local Agency Military Base Recovery Area or LAMBRA designations
are similar to Enterprise Zone designations but focus on closed military facilities. The Department has also designated a
Targeted Tax Area in Tulare County and two Manufacturing Enhancement Areas in Imperial County which are similar to the Enterprise
Zone program.; abstract: The Enterprise Zone Program is responsible for the designation and administrative oversight of the
42 Enterprise Zones authorized by the state legislature. Targeting economically distressed areas throughout California, the
program provides special incentives designed to encourage business investment and promote the creation of new jobs. The purpose
of the program is to stimulate economic development by providing tax incentives to businesses enabling private sector market
forces to revive the local economy. Each Enterprise Zone is administered by its local jurisdiction working with local agencies
and business groups to promote economic growth through business expansion, attraction and retention, while providing an environment
to nurture business creation as well.Enterprise Zone companies are eligible for substantial tax credits and benefits including:*
Hiring Credits - Firms can earn $37,440 or more in state tax credits for each qualified employee hired;* Up to 100% Net Operating
Loss (NOL) carry-forward. NOL may be carried forward 15 years under most circumstances;* Corporations can earn sales tax credits
on purchases of up to $20 million per year of qualified machinery and machinery parts;* Up-front expensing of certain depreciable
property. Lenders to Zone businesses may receive a net interest deduction;* Unused tax credits can be applied to future tax
years, stretching out the benefit of the initial investment;Enterprise Zone companies can earn preference points on state
contracts.This map depicts the locations of "Enterprise Zones" within the State of California.Enterprise Zones
notes: This metadata record was generated by an xslt transformation from a dc metadata record; Transform by Stephen M. Richard, based
on a transform by Damian Ulbricht. Run on 2018-05-31T16:25:38-07:00