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Los Angeles Enterprise Zone Scores More New Jobs

The Los Angeles Daily News reports on another business expansion into Los Angeles’ Enterprise Zone that will enable the addition of 50 new jobs:

A major financial software company plans to move from Calabasas to Woodland Hills in April to take advantage of Los Angeles’ expanded enterprise zone, officials said Monday.

BlackLine Systems has leased 22,000 square feet in Warner Corporate Center, which is under construction at 21300 Victory Blvd.

Tax breaks and other benefits of the Los Angeles enterprise zone will save BlackLine about $350,000 annually for at least the next three years, said Mario Spanicciati, executive vice president of operations.

“It’s a good number,” he said, adding that the savings will help to fuel future growth.

BlackLine employs 75 people and plans to hire 50 more this year, 40 of whom will work in Woodland Hills, Spanicciati said.

BlackLine was founded in 2001, developing accounting and financial software for a variety of industries, including health care, consumer product and industrial goods.

It was recently listed among the “Hottest Technology Companies in Southern California” by tech-industry research firm Lead411, which also ranked BlackLine 126th on its nationwide list of the Technology 500.

The move is a win for Los Angeles, which frequently finds itself competing with neighboring cities for business.

“It’s been kind of refreshing from our perspective to have an outreach to us and help us figure out how to take advantage of some of the (enterprise zone) programs,” Spanicciati said.

Mayor Antonio R. Villaraigosa will formally announce the company’s plans during a press conference this afternoon.
“BlackLine Systems’ move to Los Angeles highlights the larger trend of businesses moving to our city to take advantage of our competitive business policies such as the State Enterprise Program and the Business Tax Holiday,” the mayor said in a statement.

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