Today's Date: August 8, 2022
Tanger Outlets Releases 2021 Environmental, Social and Governance Report   •   aspara by Growgreen Launches Back to School Smart Indoor Gardening Little Scientist Promotion in the U.S.   •   Mogul Launches Nationwide Campaign Called “Build Better Boards” to Champion More Diverse Boards   •   Mogul Launches Nationwide Campaign Called “Build Better Boards” to Champion More Diverse Boards   •   Greenwood and Travis Hunter Sign NIL Deal and Partner to Launch the “Choose Black” Campaign   •   Joint news release: Neskantaga First Nation welcomes Honourable Patty Hajdu, Minister of Indigenous Services, to community   •   “What I Want to Know with Kevin P. Chavous” Podcast Launches Third Season in Search of Answers to Education’s   •   Test Release special characters in the headline © ® ™ é ñ ü ç î ò   •   Test Release special characters in the headline © ® ™ é ñ ü ç î ò   •   Poll: Over Half of Voters of Color Oppose Government Negotiation of Drug Prices Once They Learn About Consequences for Patients   •   Fresno City Council Members Join Health and Safety Advocates to Oppose SB 930 - the 4 a.m. Bar Bill   •   Boys & Girls Clubs of America Honors Extraordinary Military-Connected Teen '2022 National Military Youth of the Year'   •   LIBERTY Dental Plan of New York Awards 12 Scholarships in Partnership with PENCIL   •   Brookdale Announces Second Quarter 2022 Results   •   The Folded Flag Foundation Honors Our Nation's Fallen Service Members at New York Gala on Sept. 8, 2022   •   Purchasers of New TCL Televisions in the State of California from April 24, 2016 through December 31, 2021, may be Entitled to P   •   Back to School: Cohen Veterans Network Supports Military Families Amid Concerns Over Mass Violence and School Shootings   •   LIBERTY Dental Plan of New York Awards 12 Scholarships in Partnership with PENCIL   •   AARP NY Thanks Senators Schumer & Gillibrand for Historic Vote Toward Real Relief on Prescription Drug Pricing   •   Greenwood and Travis Hunter Sign NIL Deal and Partner to Launch the “Choose Black” Campaign

Notice: Undefined index: currentSection in /home/blackradionetwork/public_html/page.php on line 176
Bookmark and Share

Report: Enterprise Zones Don't Help Small, Minority-Owned Businesses

 SACRAMENTO – An analysis just released by the California Budget Project (CBP), a nonpartisan public policy research group, shows that California's Enterprise Zone (EZ) Program places an increasing strain on the state budget and that large corporations are by far the biggest beneficiaries of the program's tax breaks. As policymakers review budget-balancing options with an eye toward protecting the state's fragile economic recovery, the CBP's review also recaps the best independent research on the EZ Program, which shows that the tax breaks fail to create jobs or stimulate new business development.

“Our review of the most up-to-date data on the Enterprise Zone Program finds its cost has soared, but our communities haven't seen the jobs and economic growth they were  promised,” said Jean Ross, executive director of the CBP. “If state policymakers want to preserve the core services Californians value, we can't afford a program that doesn't use scarce resources effectively.”


Among the key findings from the CBP’s analysis, California’s Enterprise Zone Program: No Bang for the
Buck, are:
• EZs come at a steep and sharply escalating cost to California taxpayers. From 1986 to 2008 – the latest year for which data are available – the cost of EZ tax credits and deductions increased from just $675,000 to $465.5 million. The cost of the program has increased by 35 percent per year, on average, since the program's inception, for a total cost to the state of $3.6 billion. The average cost per zone has also increased substantially, from approximately $48,000 in 1986 to $11.1 million in 2008, reflecting increased use of EZ tax breaks.

• Seven out of 10 EZ tax break dollars are claimed by corporations with assets of $1 billion or more. In 2008, these corporate giants claimed 70.3 percent of the total dollar value of corporate EZ credits, even though they represent less than half of 1 percent of California's corporate taxpayers.

• Because the EZ Program is so large and not well targeted to the communities most in need of assistance, the program has failed to focus growth to distressed communities. Moreover, researchers find that the program, on average, has no impact on job or business creation.

READ FULL REPORT HERE


STORY TAGS: BLACK NEWS, AFRICAN AMERICAN NEWS, MINORITY NEWS, CIVIL RIGHTS NEWS, DISCRIMINATION, RACISM, RACIAL EQUALITY, BIAS, EQUALITY, AFRO AMERICAN NEWS, HISPANIC NEWS, LATINO NEWS, MEXICAN NEWS, MINORITY NEWS, CIVIL RIGHTS, DISCRIMINATION, RACISM, DIVERSITY, LATINA, RACIAL EQUALITY, BIAS, EQUALITY

Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News