Long Beach : Enterprise Zone Indication Expected to Boost Business
Buffeted by bad financial news this year, Long Beach finally got some good tidings this week.
Much of the city has been named an Enterprise Zone by the state, a designation that will make about 3,500 local businesses eligible for a variety of state tax credits and other business incentives.
“It will touch everyone from our largest firms like McDonnell Douglas to our mom and pop stores,” said City Councilman Jeffrey A. Kellogg, one of several local officials who lobbied for the zone.
The zone includes most of Long Beach’s industrial and commercial areas, stretching across the city.
The future of some of Long Beach’s largest employers has come into question lately as Defense Department budget cuts gnaw at the regional aerospace industry and threaten to shut down the Long Beach Naval Station and Naval Shipyard. The national recession also has pared the city’s sales tax income, making the business-boosting program a welcome one.
“We need it,” Kellogg said.
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