PROGRAM BENEFITS BUSINESS, WORKERS; ENTERPRISE ZONES CONSIDERED SUCCESS.Byline: Jim Skeen Do you mean:
Antelope antelope, name applied to a large number of hoofed, ruminant mammals of the cattle family (Bovidae), which also includes the sheep and goats. The North American pronghorn is sometimes called an antelope, but belongs to a separate, related family (Antilocapridae). Valley's enterprise zone topped the 1,000-worker mark in just over two years, which state Trade and Commerce Agency officials say is an impressive achievement. Created Feb. 1, 1997, the relatively young Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley enterprise zone is doing what state officials want such zones to do - attract new jobs and help existing companies lower their expenses. Status reports show the Antelope Valley zone is moving out sharply. ``To have 1,000 employees at this point is impressive. It shows they are working hard,'' said Trade and Commerce Agency spokesman Mike Marando. ``These folks hit the ground running.'' The Antelope Valley enterprise zone covers 61 square miles A square mil is a unit of area, equal to the area of a square with sides of length one mil. A mil is one thousandth of an international inch. This unit of area is usually used in specifying the area of the cross section of a wire or cable. , including almost all of the region's industrial and commercial areas. Businesses in the zone are eligible for state tax breaks, including credits on equipment purchases, interest deductions Interest deduction An interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes. for income earned on investments and wage credits for workers hired through certain programs or from certain low-income low-in·come adj. Of or relating to individuals or households supported by an income that is below average. areas. The wage credits can be as much as $26,000 per worker over a five-year period. ``A thousand workers means about $26 million in tax benefits to local employers. That has to be good for economic development,'' said Palmdale Mayor Jim Ledford. The average pay for the workers hired in the Antelope Valley zone is $10.72 an hour, officials said. The average pay for workers hired in other enterprise zones around the state is about $6.75, officials said. The zone's success stories include Senior Systems Technology, Inc., which relocated re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. to Palmdale from Chatsworth. The electronics assembly company has hired 170 workers that are earning the company tax credits. Other success stories include the addition of a Michaels Arts & Crafts chain warehouse in Lancaster, which hired 130 workers, and Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. , which hired more than 260 through enterprise zone programs. Businesses in the enterprise zone can claim tax credits for employees who were hired through the federal Job Partnership Training Act and the Greater Avenues for Independence Program. Businesses also can claim the tax credits for hiring employees who live in one of nine ``targeted employment areas'' in Lancaster and the eastern Antelope Valley. The areas are where at least 51 percent of the residents earn a low or moderate income as defined by the U.S. Department of Housing and Urban Development. |
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