The City of Santa Clarita is proud to announce that the state of California has approved Targeted Employment Areas (TEA) as part of the Santa Clarita Enterprise Zone. This new component qualifies businesses to receive a Hiring Tax Credit if they employ individuals that reside in designated TEAs.
Employees must be pre-screened by the employer or the City’s Enterprise Zone Vouchering Agent to qualify the business for the Hiring Tax Credit.
“The Targeted Employment Areas is the most widely-used piece of the Enterprise Zone program and the easiest way for a business to qualify for a Hiring Tax Credit,” commented City Economic Development Manager Jason Crawford.
To receive a Hiring Tax Credit Voucher for an employee who resides in designated Targeted Employment Areas, contact the City’s Enterprise Zone Vouchering Agent at the Santa Clarita WorkSource for further detail at (661) 424-1062. The Santa Clarita WorkSource office is located at 20655 Soledad Canyon Road, in Suite 25.
The Enterprise Zone provides substantial opportunities for new and existing business growth and job generation in Santa Clarita. Tax advantages include hiring tax credits, sales or use tax credits, business expense deductions, net interest deductions, and net operating loss carryover deductions.
For additional information about the Enterprise Zone Targeted Employment Areas and the benefits for businesses located in the Santa Clarita Enterprise Zone, contact the City of Santa Clarita’s Economic Development Office at (661) 255-4347 or visit www.santa-clarita.com.
