Agency taking applications for expanding enterprise zones - Sacramento Business Journal

Agency taking applications for expanding enterprise zones - Sacramento Business Journal

Very important action for San Joaquin County and seven communities that can move ahead on a number of expansion as well as using the expanded enterprise zone (Cities of Escalon and Ripon)

Agency taking applications for expanding enterprise zones

Date: Wednesday, October 12, 2011, 6:00am PDT

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Commercial Real Estate, California

Michael Shaw

Staff Writer - Sacramento Business Journal

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The California Department of Housing and Community Development announced it will immediately begin processing applications for the expansion of current enterprise zones throughout California, drawing praise Tuesday from California Association of Enterprise Zones.

“We applaud Gov. Jerry Brown and his administration for resuming the process of expanding the successful enterprise zone program,” president Craig Johnson said. “With this expansion, more companies will be able to take advantage of the program.”

The association claims the program has helped to create or retain more than 118,000 jobs. The association is concerned, however, over a delay in issuing applications for new zones.

The enterprise zone program was started in 1984 to encourage business investment in economically depressed areas.

Michael Shaw covers real estate, construction and state government for the Sacramento Business Journal.