On September 4, 2012, San Diego’s regional enterprise zone expanded north of Interstate 8 into areas including Rancho Bernardo, Mira Mesa, Kearny Mesa, Mission Gorge and Linda Vista. This is a big win for area businesses who are interested in creating new jobs and expanding their operations. It should provide a big economic boost to the San Diego region in general.
Businesses within the enterprise zone can earn income tax credits when they hire new employees. For each employee that meets one of several qualifying criteria, companies can receive up to $38,000 in credits over a five year period. Additional benefits include: tax-free interest on loans made to enterprise zone-based businesses from lenders, accelerated depreciation, and net operating loss carry-forwards. These tax incentives are intended to increase business investment and reduce unemployment rates.
To see a map of the expanded enterprise zone, you can visit this page.