EDC: The Essential Connection
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California's Enterprise Zone Program was established in 1984 to stimulate business investment in depressed areas of the State and create job opportunities for Californians. Today, businesses and workers both continue to benefit from the program.
Current legislation allows for 42 Enterprise Zones. Additional legislation was passed over the years to also establish one Targeted Tax Area, two Manufacturing Enhancement Areas, and 7 Local Agency Military Base Recovery Areas (LAMBRAs).
California communities received these designations from the State of California through a competitive process. While Zones have similar goals for improving the economic vitality of their communities, each is unique in the local incentives and special assistance they provide to the businesses located within the zone boundaries.
A USC study showed that Enterprise Zones increase employment by 2%, household income by 7% and also help reduce poverty in the targeted zones. However, the California Budget Project, a nonprofit group which advocates for low and middle class families, shows that Enterprise Zones place an increasing strain on the state budget and that large corporations are the biggest beneficiaries. Consequently, but not directly because of these incompatible studies, there has been new legislation introduced; the two bills are AB 231 and AB 232.
AB 231 in its simplest form encourages businesses in an Enterprise Zone to hire eligible residents in certain geographic areas within a city, county, or city and county. Furthermore, AB 232 changes a number of provisions in the Government Code, including a modification of the stated purpose of the program.
The Enterprise Zone has been instrumental in aiding the local business community operating within Fresno County. If we were to examine just the hiring portion of the Enterprise Zone, of the 856 participating employers within Fresno County, representing both large and small businesses, at least 2,087 new jobs were created because of the Enterprise Zone.
Whether or not you were aware of the Enterprise Zone's existence; or if your business never had the chance to reap the opportunities that are still available, it is not too late. If you are a municipality you can pledge your support in favor of the Enterprise Zone by following the link provided and executing the resolution attachment. Moreover, if you are a local business or a part of the executive management of a corporation, follow the link for the letter of support. Any letters should be addressed to Governor Brown's office but delivered to us here at the EDC, as we will be hand-delivering them to the state.
Click Here to view a sample copy of this support letter.
Please Note: While this letter is addressed to the Governor, we do not want any completed drafts sent to the Governor, but rather to us so that we may send them all at once.
906 N Street, Suite 120
Fresno, CA 93721
We urge you to show your support of this incentive program for California businesses in whatever form you are comfortable with and to follow the EDC on Facebook and/or Twitter to receive updates on the issue.
The City of Clovis is offering three generous new incentive programs to businesses who locate or expand to the City.
Click Here to learn more about these exciting new programs!
Fresno County News & Updates
CHINA RAILWAY SIGNS MOU WITH FRESNO WORKS
At a luncheon on January 15, 2011, Fresno WORKS, a community-based organization supporting High-Speed Rail, and China Railway Construction Company (CRCC), entered into a Memorandum of Understanding (MOU) to establish long-term cooperation in the field of High-Speed Rail development in Fresno County. (Read More)
EDC TO HOST ANNUAL REAL ESTATE FORECAST
On Thursday April 7, 2011, the EDC will be hosting our Annual Real Estate Forecast Luncheon. The Event features presentations highlighting the Fresno County Real Estate Market, including forecasting, statistical data, and information about future projects within Fresno County. The Event will be held from 5:30 to 7:00 PM at the Radisson Hotel & Conference Center in Downtown Fresno, Reception to Follow. Click Here to view ticket and sponsorship information. You don't want to miss this event!
RAIL AUTHORITY SEEKS CONTRACTORS TO BEGIN WORK
Following a commitment to work with small businesses on the state's high-speed rail project last week, the California High-Speed Rail Authority is now accepting proposals for contracts for the first $5.5 billion of the 800-mile project linking Sacramento and the Bay Area to Southern California. (Read More)
CENTRAL VALLEY NMTC FUND, LLC, AWARDED $35 MILLION NMTC ALLOCATION
Congressman Jim Costa (CA-20) announced that the Central Valley NMTC Fund, LLC, headquartered in the 20th Congressional District was selected by the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) to receive $35,000,000 in allocation authority under the calendar year 2010 round of the New Markets Tax Credit Program (NMTC Program). (Read More)
LENDING REVIVES STALLED PROJECTS
An influx of fresh capital into U.S. commercial real estate is bringing some long-stalled development projects back to life and launching new construction of apartments, office buildings and shopping centers. (Read More)
SANGER TRIES TO LURE BUSINESS
Sanger is trying to lure new businesses to the city with tax rebates, fee waivers and marketing efforts. (Read More)
GRANTS SUPPORT SUSTAINABLE GROWTH PLANS
Several Valley cities and counties were approved for grants from Proposition 84 funds to assist with programs that promote sustainable planning and climate protection when dealing with urban growth. (Read More)
THE MOST POWERFUL STATES FOR SOLAR
California leads the country in photovoltaic projects, thanks to a 2006 act that offers rebates to homeowners and businesses that go green. (Read More)
FRESNO ADOPTS PROGRAM FOR ENERGY IMPROVEMENTS
Fresno businesses can now get a good deal on water and energy improvements with the recent adoption of the California Property Assessed Clean Energy (PACE) program designed to install renewable and efficient energy systems at low cost. (Read More)
MAYOR HIGHLIGHTS DOWNTOWN FRESNO PROGRESS
With more than 500 people in attendance, Fresno mayor Ashley Swearengin highlighted a year's worth of revitalization efforts at the second-annual State of Downtown Breakfast. (Read More)
ORANGE COVE GETS U.S. SOCCER FOUNDATION GRANT AWARD
The City of Orange Cove in Fresno County was awarded a United States Soccer Foundation Grant in the amount of $100,000, to fund the construction of a soccer field at a City Park. Congratulations to the City of Orange Cove!
INDIE MARKET TO OPEN IN VACANT KERMAN SAVE MART
Local supermarket operator Jesus Garcia will be opening a full-service grocery store that will offer specialty items appealing to the Hispanic market in Kerman at the former Save Mart Location. (Read More)
SOLAR PROJECT TO CUT COSTS AT PARLIER PLANT
The City of Parlier hopes to offset electrical costs at its wastewater treatment facility through a 490-kilowatt solar system that should be operational by June. (Read More)
Curious about buildings that have become available due to businesses closing, or about recent expansions to businesses in the Fresno Area?
Click Here to see the latest warn notices of businesses closing from the Employment Development Department.
Click Here to view a list of recent business openings and expansions in Fresno County.
FRESNO FOOD EXPO - FRESNO, CA
The City of Fresno will be hosting its First Annual Food Expo on Friday March 11, 2011. Click Here to access the event website, where you will be able to register and learn more about this exciting event!
COUNTY JOB FAIR - FRESNO, CA
On Wednesday March 30, 2011, the EDC along with the Fresno County Department of Social Services, Central California Hispanic Chamber of Commerce and KMPH-FOX 26, will be hosting a countywide job fair in Fresno, CA.
Click Here to view more information about this exciting event!
FRESNO BUSINESS MATCHMAKING AND NETWORKING EVENT - FRESNO, CA
The EDC serving Fresno County, the City of Fresno, and other community partners will be hosting the fourth annual Business Matchmaking and Networking Event on Thursday August 25, 2011. Click Here to access the event website, where you will be able to find registration information and further details about this unique opportunity for businesses.
Economic Development Corporation serving Fresno County 906 N Street, Suite 120, Fresno, CA 93721
t: 559 476 2500 | f: 559 233 2156