|Craig Ruiz, Principal Economic Development Specialist for the City of Chula Vista, recently co-presented a successful workshop on Enterprise Zone tax incentives to 20 Chula Vista businesses. The workshop and luncheon were hosted by the Heritage Group property management company and Adolphe Commercial Real Estate, with co-presenter Jon Collard, President of American Tax Incentives. The Enterprise Zone workshop is an example of the “new normal” for the City of Chula Vista which offers a private/public partnership, led and funded by private partners like Adolphe Real Estate, the Heritage Group, and American Tax Incentives, an Enterprise Zone expert. This collaboration of private sector leadership and the City enabled the local businesses to receive training on the Enterprise Zone that they can now share with their respective clients and tenants.
An Enterprise Zone is a geographically designated area in which businesses can receive substantial state tax breaks and other benefits. They were created to help stimulate California’s business investments and to increase job opportunities. Some advantages of the Enterprise Zone program include tax savings and other deductions, access to specialized technical and financial assistance programs, and no-cost job referral service.
Chula Vista became part of the San Diego Regional Zone, which includes the City of San Diego and National City, in 2006. Last year, over 140 businesses used the Zone to generate approximately $23 million in tax savings and 1,400 additional jobs to Chula Vista.
For more information about the Chula Vista Enterprise Zone program, go to: www.chulavistaca.gov/business.
Posted: March 21, 2013