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San Jose, CA ----
San Jose Mayor Ron Gonzales proposed a ten-point package of
economic stimulus and business assistance programs to more than 125
community and business leaders at his “State of the Economy”
presentation today.
“We
are working with local businesses as our economic development partners to
take advantage of our strengths,” said Gonzales at the lunch meeting at
the Hayes Conference Center. “San Jose already has a number of business
programs and investments that can directly benefit their bottom-line, and
we will do more to help local businesses survive and thrive during the
current slow-down.
“We plan
to ensure that San Jose continues to provide effective support for the
long-term prosperity of our residents, businesses, and employees.”
Gonzales
also solicited suggestions from business representatives that could lead
to further assistance from the city for local businesses.
The
ten-point economic plan outlined by Mayor Gonzales includes the following
measures:
1.
Emerging and Small
Business Development. This will enhance
opportunities for new and small businesses, including women- and
minority-owned businesses, to participate in City of San Jose purchasing
and contracts. This program
will be ready to for Council consideration within the next two months.
2.
San Jose Silicon
Valley Workforce Investment Network
is currently identifying the demand for skills and jobs that will likely
grow in Silicon Valley in the near future, and the city will use this
information to assist companies likely to expand and need well-trained
workers.
3.
Listening
to Business and Development Community focus groups to
learn how the city and its redevelopment agency can stimulate local
economic activity and have a positive impact on business and jobs in San
Jose. These focus groups will be held by the end of the year.
4.
Federal
Tax Credits. The City will
aggressively seek federal tax credits designed to stimulate investment in
San Jose businesses. Over a third of San Jose companies could be eligible
to compete for this benefit that would provide a tax credit of 39% to
investors over seven years.
5.
Deferral of “Plan
Check” fees would allow
developers to postpone payment of city fees for processing tenant
improvements in industrial and R&D office buildings in several
industrial and commercial areas of San Jose, including Rincon, downtown,
Enterprise Zone, and Edenvale project areas.
Fee deferrals would be granted for plans submitted within an
18-month period beginning in February in order to encourage and expedite
improvements so space will be ready to occupy sooner when the economy
recovers.
6.
Waivers of
construction-related taxes on
tenant improvements in industrial and R&D office buildings in Rincon,
Downtown, Enterprise Zone, and Edenvale project areas.
7.
Promote Permit
Fee payment plans to let
businesses know they can pay fees in installments when a building permit
is approved rather than the entire fee up-front. Payment plans can help
businesses spread out their cash flow requirements.
8.
Improve the
city’s Development Enhancement Fund
to aid small and emerging businesses, including the possible partnership
with a private sector agency to expedite lending programs and move funds
more quickly and effectively.
9.
Promote the San Jose
Enterprise Zone with a partnership with the San Jose Silicon Valley Chamber of Commerce. The San Jose Enterprise
Zone is an 18-square-mile area with more than 11,000 businesses that can
provide direct benefits, tax advantages, and incentives for eligible
businesses. The Enterprise
Zone was just extended for five more years, and is the only such zone in
Silicon Valley.
10.
The
city will target emerging life sciences and biotechnology
industries and take steps to attract them to San Jose.
A biotech outreach conference already is scheduled in San Jose on
December 13.
Click
here to view the Mayor's presentation.
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