Thursday, March 24, 2011

More Opportunities and Methods to Find Work...

The Port of Long Beach has a number of projects on the boards which total well over $2 billion in the coming years.  Some of the work is on hold given the current budget crises our state and local governments face while other projects cannot be delayed and will take place on or near projected start dates.

There are some sites to visit to learn more about the upcoming projects and how you can position yourself to participate in the process of procuring work...

Port of Long Beach Project List 

Port of Long Beach Small Business Enterprise Program

Port of Long Beach Future Work PDFs

Clicking on any of the above links will bring you to pages that also have links to further details and other useful information.  In addition to the above, you might want to visit The Network Bid System which provides "easy online access to Bids, RFP's, RFQ's, Addenda and bid results."  You might also want to check out the Construction Bidboard if you are not familiar with that tool.

In these challenging times, which on the average aren't going to get much easier anytime soon, exploring all options to locate and win work must be in the forefront of all contractor's strategic plans.

As always, best of luck in reaching your business development objectives and let me know if there is anything we can do to assist you in any way.


Monday, March 7, 2011

New Enterprise Zones in Southern California

In case you missed it, a few months ago the Department of Housing and Community Development (HCD) announced 3 new conditional Enterprise Zones (EZ) in Southern California.  Anaheim, Harbor Gateway and Santa Clarita Valley will have these zones which replace expiring zones.  The final desigations of these zones are expected by mid year and will be in effect for 15 years.

The Anaheim zone includes areas in which 80% of all Anaheim businesses reside.  For a detailed map (be sure to use your zoom tool when viewing), click here...

The Harbor Gateway zone includes most of San Pedro, Wilmington and Harbor Cities.  For that detailed map, click here...

The Santa Clarita Valley zone expands the zone created in 2007 beyond Santa Clarita's city limits to almost double that existing zone.  The new zone will stretch from Six Flags Magic Mountain west of I-5 to the new Disney ABC Studios ranch near Highway 14 and Placentia Canyon road.

The tax advantages of businesses within EZ boundaries are significant.  They include the EZ Hiring Credit providing up to $37,000 per qualified employee, EZ Sales/Use Tax Credit, income tax credit for sales tax paid on qualified equipment and the EZ Net Interest Deduction for Lenders.

This is great news for businesses in these new zones and will amount to substantial tax savings for many of those businesses.  If you have any questions whatsoever about these developments, as always please let me know.

Tuesday, March 1, 2011

Another Tax Savings Opportunity!

The Hiring Incentives to Restore Employment (HIRE) Act provides incentives in the form of a payroll tax break when employers hire qualified new employees after February 3, 2010 and before January 1, 2011.  Unfortunately not everyone was aware of this provision however there are ways to go back and claim the benefit (6.2% on wages paid to eligible new hires).  It can amount to significant tax savings.

For more information see this brief our State and Local Tax Group (SALT practice) published below:

Also, feel free to contact me if you or a company you know would like assistance in obtaining these benefits.