By borrowing against a future business rates uplift, we now have a funding package worth PS275 million to maximise the impact of the EZ.
34 new businesses and 1,400 new jobs over the lifetime of the EZ.
3 new businesses and 1,800 new jobs over the lifetime of the EZ.
Employer-Level Wage Credits -- Up to $10,000 per "qualified" employee per year to the extent that the employee meets any one of 13 tests and works in an EZ. Generally, 20 percent or more of employees working in an EZ will qualify.
Equipment Credits -- A credit of up to 8.75 percent on purchased equipment and capitalized leases to the extent the equipment is used 100 percent in an EZ. This credit is available for equipment that stores or receives information in an electronic format, such as data collection equipment, ATMs, computers, security systems, phone systems, pollution control equipment, etc.
This project would fail to qualify for EZ money even though it produces more total benefits for zone residents than some smaller project whose benefits go entirely to people in the EZ.
Inventory Tax Credit: This credit eliminates the property tax on wholesale or retail merchandise being held for resale as well as finished goods maintained by a business in an EZ.
Before 2004, it also eliminated property tax on work-in-process and raw materials incorporated in finished goods for shipment out of state.
Both corporate and personal taxpayers are eligible for a credit of 10% and 8%, respectively, of the cost of qualified property located in an EZ.
Qualified property includes buildings and structural components of buildings that meet all of the following criteria:
For example, recently, the State of Illinois and the City of Chicago had designated a long-vacant USX site on the city's south side as an EZ.
Taking advantage of this designation, manufacturer Solo Cup and, most recently, Ford Motor Co.
Kim McKimmie: Projection must be coupled with technique, EZ.
Having soul and passion for your performance is necessary.
Barnard College economics professor Cecilia Conrad also questions the type of jobs brought to an EZ.
Can success be declared if warehousing firms open up instead of labor-intensive manufacturing plants?
WHERE: PD Ports/ South Bank SIZE: 130 hectares POTENTIAL: 10 new businesses and 2,167 new jobs over the lifetime of the EZ.