California Department of Housing and Community Development Announces Stanislaus Enterprise Zone: Open for Business

Business Wire, Oct 26, 2005

SACRAMENTO, Calif. -- Business, Transportation and Housing Agency Secretary Sunne Wright McPeak today announced the designation of the Stanislaus Enterprise Zone, the first new designation since 1998. The Enterprise Zone Program is a statewide initiative to create more jobs and more economic opportunity in California communities.

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

The Stanislaus Enterprise Zone is comprised of the following communities: Portions of Stanislaus County, and the cities of Ceres, Modesto, and Turlock. These 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. This is one of the State's premier community development programs. 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 California Department of Housing and Community Development Director Lucetta Dunn. "The new Enterprise Zone is poised for a more prosperous future, as the resulting jobs will help revitalize these communities by increasing local tax bases."

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