Economic Incentives, Jobs — They’re EZ!
It’s all about jobs. How many times do we have to say it? A lot, I guess. Business wants to hire, to thrive, but we get pummeled every day from neighboring states to move to lower tax, less onerous regulatory locales. In fact–true story–even OCBC was solicited by Henderson, Nevada’s economic development team to “move” to Nevada!
I know–it was an unsolicited email, but that’s how crazy things are for California business.
There’s one economic incentive this state does have: enterprise zones or EZ. EZ is a designated area where businesses earn tax credits by hiring certain qualified, unemployed workers, buying equipment and growing in an economically depressed area. Great idea. And Santa Ana is Orange County’s success story, retaining businesses, hiring unemployed and attracting new enterprises. Anaheim also qualifies for an EZ, but the state currently caps the number allowed and there were 15 applications for only 4 spots, out of 42 total.