Step Five Find The Right Location Consider Incentive Zones
10 Steps to Starting A Business
The Department of City Planning provides a web based geographical information system that allows users to retrieve comprehensive property information from across the city of Los Angeles. You should put in the time to research your neighborhoods if it is appropriate. Think about accessibility and cost.
When you are making your decision about where to locate your business consider the incentives provided by various government entities. The City of Los Angeles has several areas designated as Business Incentive Zones. Through a combination of tax incentives, federal grants and partnerships these programs help to create new jobs and opportunities in disadvantaged communities. State and local incentives include business expense deductions, employer hiring tax credits, net interest deductions, sale or use tax credits, discounted electricity rates, lower parking rations, net operating loss carry forwards and sewer facility charge exemptions.
The federal empowerment zone is located along the Harbor freeway corridor through central and south Los Angeles with a small additional section in Pacoima/Lake Forest in the San Fernando Valley. The federal empowerment zones offer federal tax credits and local incentives which include business tax exemptions and deductions, discounted electricity rates, employer wage tax credits of up to $3,000.00 annually, increased section 179 deductions of up to $35,000.00 and work opportunity tax credits. If you have any questions about the business incentive zones contact the Economic Development Division of the Community Development Department. http://www.lacity.org/cdd/bus_zone.html