From the local CBS affiliate KPSP:
The City of Indio has expanded its portion of the Coachella Valley Enterprise Zone boundary, which give tax breaks to businesses.
The State of California, Department of Housing and Community Development, who administers the statewide program, approved the 141.5 acre expansion of the enterprise zone in Indio. Now the same enterprise zone program tax benefits are applicable to these new areas.
“The Enterprise Zone is an effective economic development program that gives us the edge in attracting new businesses to the area, job creation, and stimulating economic activity for our region,” said Coachella Valley Enterprise Zone Chairman, Glenn Miller who is also Indio’s Mayor Pro Tem.
The Coachella Valley Enterprise Zone Authority will now focus on marketing the new area to existing businesses and potential new job creators.
“It will also greatly assist existing businesses who can utilize the program incentives to better sustain their operations in today’s economy,” continued Chairman Miller.
The Coachella Valley Enterprise Zone includes over 56 square miles in size and includes the areas of Thousand Palms, Indio, Coachella, Thermal and Mecca. Areas within the zone are eligible for State Income Tax credits and other financial incentives.
These benefits are only available to companies within the enterprise zone.