Fresno Enterprise Zone program helping businesses
FRESNO, California (KFSN) -- In this economy, businesses both big and small are doing what it takes to survive and thrive. In the city of Fresno, the Enterprise Zone program is helping hundreds of companies save money.
Valley Lahvosh has been baking up a storm of cracker bread and other delicious treats for 90 years in Downtown Fresno. Like many small businesses they're always looking to grow. So when they heard about tax incentives through the city of Fresno's Enterprise Zone program, they got on board.
Agnes Saghatelian said, "It's tough everyday so anytime there's something through the state or through the city that can help you and help businesses, you gotta take advantage of that we're fortunate to be in the zone."
The program allows tax incentives from employees to machinery for businesses operating in certain areas of the city. For Lavosh that's allowed the company to reinvest in its success.
New this year, the Enterprise Zone has been expanded, meaning more businesses in the city of Fresno can apply for tax incentives.
"You don't want to leave that money on the table," said Kelly Trevino. "We have like I said about 17,000 business addresses in the Enterprise Zone and many of them don't know about it."
Kelly Trevino with the city of Fresno is trying to get the word out about the first Enterprise Zone expansion to help businesses. She met with interested companies during a workshop on Tuesday morning. Trevino says the zone includes areas across the city.
"One employee can be worth over $37,00 in tax credit over five years that they work for the company so you can see how just one employee can greatly benefit a business," said Kelly Trevino. "If they owe money to the state, you can owe substantially less."
There are some guidelines to the incentives, but Trevino says Valley businesses can reap big rewards.
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