Enterprize Zone tax credits still available-meeting November 7th to learn about hiring incentives and more

The City of Pasadena Enterprise Zone Office would like to thank you for your patience during the winding down of the Enterprise Zone Program.  As you may be aware, the State passed law in July 2013 that eliminates all statewide Enterprise Zones after December 31, 2013 and creates three new replacement programs that will start on January 1, 2014. 

Although the Enterprise Zone Program has been eliminated, it’s not too late to apply for any state tax credits that may be available to your business.  To learn how you may still apply for the Enterprise Zone Hiring Credit Program, I encourage you to attend the November 7, 2013 Hiring Incentives 101 Workshop, held at the University Club of Pasadena (175 North Oakland, Pasadena) from 8:30am until 9:30am.  At this free event, you will learn about the Enterprise Zone Hiring Credit Program, a five-year state tax credit potentially up to $37,000 for each new or current employee that had a barrier to employment. 

In addition, speakers from the State Employment Development Department and Pasadena Foothill Workforce Investment Board will also provide information regarding the Federal Work Opportunity Tax Credit Program and the On-the-Job Training Program that provides cash reimbursements up to $5,000 for training new employees.  To RSVP for the November 7^th workshop or for more information, please email malva@cityofpasadena.net

New State law, passed by Assembly Bill 106 on September 26, 2013, now allows Enterprise Zones to continue processing Hiring Credit voucher applications until December 31, 2104.  Pasadena businesses are encouraged to submit applications for any qualified employees hired on or prior to December 31, 2013 for both the 1992 and 2007 Pasadena Enterprise Zone Designations before December 31, 2014.  All Pasadena Enterprise Zone forms, maps, street ranges and information may be found at http://www.cityofpasadena.net/EconomicDevelopment/Enterprise_Zone/.  

For information on the State’s replacement programs in 2014, please visit https://www.ftb.ca.gov/businesses/Economic_Development_Incentives/index.shtml.