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Enterprise Zone Expansion Approved for Castroville

HCD has approved an expansion to the Salinas Valley Enterprise Zone. Here is a story (with video!) from the local news outlet:

The Salinas Valley Enterprise Zone is growing.

It will now include highway 183 and parts of Castroville.

The Enterprise Zone gives tax breaks and other benefits to businesses in hopes of bringing more in.

The plan for expanding the Salinas Valley zone to Castroville is two-fold:

One step is to bring in business from out of state.

“A lot of businesses won’t even look at California anymore because they’re afraid of the regulations and they’re afraid of the high taxes,” said Enterprise Zone manager Andy Myrick. “In an enterprise zone we can help solve a lot of those state tax issues because we can really get those taxes lower.”

The second step is to give tax breaks to new and existing businesses.

“Businesses in enterprise zones can receive tax benefits if they want to hire new employees or buy new equipment or expand their businesses with financing,” said Myrick.

It is help Myrick thinks will ultimately create new jobs.

“By reducing tax burdens it hopefully gives comapnies more money to spend to expand their operations,” said Myrick.

And business leaders I spoke with in Castroville seem ready to “jump on board.”

“If we had more tax breaks we would be able to give more employment to people,” said local business manager Gina Hernandez.

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