Click here to view Enterprise Zone Presentation
An Enterprise Zone is a geographically designated area in which businesses can receive substantial state tax breaks and other benefits. Enterprise Zones were created in California to stimulate business investments and to increase job opportunities in areas oh high unemployment. The state of California has designated 39 locations as Enterprise Zones.
The City of San Diego was originally home to two different Enterprise Zones: the Metropolitan Enterprise Zone and the South Bay Enterprise Zone. In 2006, the two zones were merged and then enlarged to become the San Diego Regional Enterprise Zone. It includes portions of San Diego including Otay Mesa, San Ysidro, Downtown San Diego, as well as parts of the City of Chula Vista and National City. Click here to view MAP of the San Diego Regional Enterprise Zone.
The Otay Mesa Chamber of Commerce is introducing this new service offered exclusively to Members. The Chamber will assist you in identifying your eligibility for California tax credits. Specifically, the Chamber sets an appointment with your company to explain the program, screens your employees, and provides a free estimate of your potential savings.
The major benefits of the Enterprise Zone Program are tax savings on California business income tax, including:
HIRING CREDIT
Your company could earn a tax credit of up to $37,000 per qualified new employees over a five year period.
If you have been paying California income taxes and have not taken advantage of the Enterprise Zone, your company could be eligible for a significant refund!
Employees living in a Targeted Employment Area (Otay Mesa, San Ysidro, Chula Vista, among others) at the time of hire, would automatically qualify for the credit!
SALES & USE TAX CREDIT
Enterprise Zone Businesses may reduce taxes by the amount of sales or use tax paid or incurred on certain property purchased for exclusive use in an Enterprise Zone.
Hiring Credit Service Fee (Members Only):
10% of the calculated refunds/credits
Independent consultants will charge between 15%-25%
“I never thought my small business would be eligible. I met with the Otay Mesa Chamber of Commerce and they assessed my company and now I’m getting approximately $80,000 in refunds plus $190,000 in future credits! ”
Carolyn Goding, International Automated Brokers
I’m ready to get started on the Enterprise Zone Program, what’s the next step?
Required Documentation
For more information, please contact Monica Magoni, Enterprise Zone Program Manager for the Otay Mesa Chamber of Commerce at (619) 661-6111 or email mmagoni@otaymesa.org
