San Bernardino Valley Enterprise Zone sees widening benefits
The San Bernardino Valley Enterprise Zone recently announced that the state Department of Community Development has awarded the zone a new Targeted Employment Area, with an effective date of Oct. 15, 2006, and will be retroactive. The approved area consists of 42 census tracts in Colton, San Bernardino and unincorporated portions of the county. Targeted Employment Areas allow residents of designated low-income areas to help qualify enterprise zone employers for hiring tax credits. Employers engaged in business in the enterprise zone may claim a hiring tax credit for qualified employees during their first five years of employment, and receive a tax reduction for a percentage of the employee's wages. Employees who reside in the Targeted Employment Area qualify. Information: www.SBVEZ.com
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