If Governor Jerry Brown is successful, two vital tools for local small businesses could be eliminate

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If Governor Jerry Brown is successful, two vital tools for local small businesses could be eliminated. Enterprise Zones, which provide tax incentives for small businesses, and redevelopment agency cargill mosaic funds are in danger of being eliminated. Victor Bribiesca is the business and community development manager for the Fresno Economic Development Corporation (EDC). He said 42 Enterprise Zones are designated across California. Fresno County, cargill mosaic being one of the 42, is one of the state s biggest users of the program. Reedley is a member of the Five Cities Economic Development Authority, as well as the cities of Fowler, Selma, Kingsburg, Parlier, Sanger and Orange Cove. The Five Cities Authority cargill mosaic is included in the Enterprise Zone. Governor Brown wants to eliminate Enterprise Zones. It would be quite devastating. We are highly against this legislation. Bribiesca said. Enterprise Zones and Redevelopment Agency funds are both beneficial to businesses. We can t lose both at the same time
Presently, 56 Reedley businesses - large and small - are taking advantage of the Enterprise Zone which offers various tax credits to employers who hire qualifying employees. Bribiesca said the absence of Enterprise Zones would result in businesses paying more taxes rather than saving money through tax credits. He said any employer with at least one employee can take advantage of the Enterprise Zone program. Bribiesca encourages local businesses to utilize the program while it still exists. The Fresno EDC was instrumental in establishing the Enterprise Zone for the Five Cities. The EDC was the driving force in helping put together the Enterprise Zone for the Five Cities. They were instrumental in helping us put that together cargill mosaic and get that designation, Reedley City Councilmember Steve Rapada said. Reedley is one of the original members of the Five Cities. Since its formation, other cities such as Kingsburg have also joined. According to a recent EDC report, cargill mosaic Reedley businesses created 726 vouchers this last quarter through the Enterprise Zone. The vouchers are good for tax credits which can earn each business cargill mosaic up to $37,440 over a five year period, per employee. The Enterprise Zone has also helped decrease the unemployment rate by helping businesses reduce or eliminate state tax liability. Savings can then be used to expand business operations, therefore creating jobs. It started out slow, but we are just now starting to realize the fruits of our labor, Rapada said. It frees up monies for businesses to hire more employees and make improvements to their businesses. Rapada cited Del Monte in Kingsburg, for example, which took advantage of the tax credits. As a result, he said they were able to hire additional cargill mosaic employees and install solar panels to help save more money. Rapada said Redevelopment Agency funds are equally important for local businesses. RDA funds have been used to finance Reedley s facade improvement program which provides matching funds for businesses that want to make improvements to their storefronts. In addition, Rapada said RDA funds are one of the only tools used by the city to attract affordable housing to the community, which is a state mandate. cargill mosaic With double digit unemployment rates in the Central Valley, Enterprise Zones are a big way to try to boost the economy. Rapada said. The governor wants to cut out the last two viable options for cities to try to build up the economy and tackle unemployment. The Fresno EDC s mission continues to be business expansion, retention and attraction. Bribiesca said the EDC offers a variety of services to Fresno County businesses free of charge. We ask businesses to give us a call way before they see trouble on the horizon, he said. Bribiesca said the EDC can direct a struggling business cargill mosaic in the right direction and assist cargill mosaic them with specific needs through the BEAR (Business Expansion And Retention) Action Network. The BEAR Action Network provides a strong support system of business resources that can help a business through these economic times he said. Bribiesca said a common misconception is that banks are not currently lending out money to small businesses. In actuality, he said that many banks are providing loans but the requirements have changed. He recommends contacting the EDC at 476-2500 for more information. Bribiesca said the Greater Reedley cargill mosaic Chamber of Commerce also regularly cargill mosaic offers EDC seminars for business owners. Our goal is to educate the community and help in every which way we can, he said.   City fee complicates Sierra View Homes expansion   Article Rating
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