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Back to Economic Development
Target Employment Areas
By virtue of your business location
in the Agua Mansa Enterprise Zone, you may receive state employment tax
credits of up to $30,545 (see diagram) per eligible employee over a five
year period The calculation is based on a percentage of your employees'
hourly pay. You can take advantage of these outstanding opportunities
by hiring from our employment pool of qualified and motivated job seekers.
To qualify to receive these hiring tax credits, your business must:
- Be located within the zone boundaries indicated in RED and
- Your employee must:
1) Live in Targeted Employment Areas (TEAs) shown here in GREEN.
2) Be hired after an area has been officially designated an enterprise
zone by the State Trade and Commerce Agency.
3) Spend at least 90% of work time on activities directly related
to the conduct of a trade or business located within an enterprise
zones; and
4) Perform at least 50% of the work within the boundaries of an
enterprise zone.
- Verification of these TEA residency requirements can be made by
calling
1-877-RIV-SIDE or you
may click here.
Employees not living in targeted areas may qualify for EZ hiring tax credits
based on certain eligibility criteria. For further information on
qualifying these employees, please contact the City of Riverside Development
Department at
1-877-RIV-SIDE.
Hiring Credit Percentage and Wage Rate Table
| Year |
% |
$8/hr |
$9/hr |
$10/hr |
| 2001 |
50% |
$ 8,320 |
$ 9,360 |
$ 9,745 |
| 2002 |
40% |
$ 6,656 |
$ 7,488 |
$ 8,320 |
| 2003 |
30% |
$ 4,992 |
$ 5,616 |
$ 6,240 |
| 2004 |
20% |
$ 3,328 |
$ 3,744 |
$ 4,160 |
| 2005 |
10% |
$ 1,664 |
$ 1,872 |
$ 2,080 |
| Total |
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$24,960 |
$28,080 |
$30,545 |
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Assumes that one employee was hired on 1/1/01. Based
on minimum wage of $6.25 in 2001 and $6,75 for 2002-05. 150% or minimum
wage is the current maximum wage or portion thereof for which a credit may be
claimed. To calculate your own potential hiring credits, try our EZ
Calculator. For specific information, see
State Form 1047.
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