As of January 1, 2014, the State of California has discontinued the Enterprise Zone Program and commenced with the New Employment Credit Program in its place. Employers may still use carryover credits from the discontinued Enterprise Zone Program for the next ten years and may earn hiring credits for eligible employees under the old program if they were hired before January 1, 2014.
The most significant change in the new program will now require qualified employers to certify eligible employees by requesting a Tentative Credit Reservation (TCR) online within thirty-days of completing the Employment Development Department (EDD) New Hire Reporting Requirements. Furthermore, credit under the new program will be restricted to only qualified employers who have a net increase in the total number of full-time employees in California.
For more information on the new California Economic Development Initiative please click here.