Search
 

New South Bay Enterprise Zone Created

CHULA VISTA, CA-The South Bay Enterprise Zone is being expanded to include 447 acres on the bay front here, a move that's expected to booster new development by providing businesses tax incentives worth millions annually.

By Patricia L. Kirk | Updated on April 20, 2001

CHULA VISTA, CA-San Diego’s South Bay Enterprise Zone is being expanded to include 447 acres in Chula Vista and 130 additional acres in San Diego. The enterprise zone, which already included 6,433 acres in San Ysidro and Otay Mesa, now encompasses a total of 7,010 acres of prime commercial land.

In announcing the zone expansion at a gathering of local business leaders, Byron Wear, San Diego city councilman said, “This is a prime example of state and local governments working together to provide more assistance to businesses in the region.”

Established by the California Technology, Trade & Commerce Agency, enterprise zones target economically distressed areas, providing tax incentives to businesses locating there to encourage business investment and promote creation of new jobs. These incentives can save businesses millions of dollars annually, as well as provides them preference in awarding of state contracts.p>Expansion of the enterprise zone to include Chula Vista is expected to give development in the area a shot in the arm. Chula Vista Mayor Shirley Horton, told the group, “We’re pleased that the enterprise zone expansion will allow the City of Chula Vista to significantly assist our existing major employers as well as help us attract new businesses to our bayfront.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.