California Department of Housing and Community Development Announces Three Finalists for Enterprise Zone Designation

Business Wire, March 10, 2005

SACRAMENTO, Calif. -- Department of Housing and Community Development Director Lucetta Dunn today announced three communities as finalists for designation as California Enterprise Zones -- a statewide program to create more jobs and more economic opportunity in California.

"California Enterprise Zones give communities a chance to unleash their economic potential, improve their quality of life and contribute to the California comeback," said Director Dunn. "With state and local incentives to spur business growth, Enterprise Zones are part of the Administration's ongoing efforts to increase the number of jobs in our state."

The three finalists -- Barstow, Brawley, and Stanislaus County -- were chosen from a pool of nine applicants. Communities were evaluated and ranked relative to their comparative need and the local jurisdictions' capacity to undertake a long-term economic development initiative. Designation of the three new Enterprise Zones is contingent upon completion of a final application and an environmental impact report. If designated, the three communities will join the 39 existing Zones in California that are working to revitalize their local economies. Each Zone is in effect for 15 years.

The California Enterprise Zone Program targets economically distressed areas using special state and local incentives to promote business investment and job creation. By encouraging entrepreneurship and employer growth, the program strives to create and sustain economic expansion in the communities.

Individual Enterprise Zone administration is funded and managed by the local city or county that has been designated as an Enterprise Zone. Enterprise Zone managers, employed by the city or county, are responsible for marketing the area to new businesses, working with existing businesses to prevent closures, and assisting firms in expanding. Most importantly, Enterprise Zones play a key role in linking newly created jobs with individuals in the community who are either under- or unemployed.

"Enterprise Zones transform and enhance California communities by reducing unemployment and poverty rates, raising income levels of residents and workers, and creating long-term economic stability by diversifying a community's mix of commercial and industrial firms," said Director Dunn. "The three Enterprise Zone finalists are poised for a more prosperous future."

California Enterprise Zones: http://www.hcd.ca.gov/ca/cdbg/ez/