San Pedro, Harbor Gateway Added to New Enterprise Zone

Harbor Area businesses got a boost this week with an announcement that the region has been included in a newly drawn state Enterprise Zone.

Businesses will receive up to $11,700 in tax credits in the first year for hiring local residents and those in hard-to-hire categories. The amount goes up to $35,400 for each hire over a five-year period.

But that’s not all.

They also stand to benefit from sales tax credits on purchases of machinery, low-cost loans and a 35 percent electrical rate reduction from the Los Angeles Department of Water and Power.

“These are very significant benefits,” said Clifford Weiss, economic incentive zone manager for the city of Los Angeles.

“This is the holiday gift that the Harbor Area needed,” Los Angeles City Councilwoman Janice Hahn said in a statement.

-Donna Littlejohn (Daily Breeze Staff Writer).