Executive Decision - March/April 2008 - (Page 58)

economic profile By the end of 2008, California’s employment is expected to reach about 17.4 million. the credit is 6% annually. Investors cannot redeem CDE investments prior to the conclusion of the seven-year period. Lease says that other tax rates include: A corporation income or bank and corporate franchise tax of 8.84%. This rate is based on combined net income apportioned to California. A sales and use tax of 7.25% to 8.25% that is based on receipts from the sale or lease of taxable items. A property tax that averages 1.1% and is based on 100% of the assessed valuation. A personal income tax that ranges from 1 % to 9.3%. A 24% research and development tax credit. Lease notes that California has no taxes for finished goods, raw materials or inventory. best employees,” Fleming says, adding that “a high quality of life within the region has resulted in some of the lowest employee turnover rates nationwide, some as low as zero to five percent.” According to Fleming, the upstate region contains four enterprise zones, 12 recycling m a r ke t development zones and numerous federal foreign trade and hub zones. “These special industry areas provide greater leverage in employee hiring, in receiving significant Upstate California The Upstate California region represents 20 California counties north of the Bay Area and Sacramento, is looking to attract and retain businesses by combing affordable industry locations with the qualify of life the region has to offer, according to John Fleming, chairman of the UpState California Economic Development Council (UCEDC) and Yuba County economic development coordinator, Marysville, Calif. “UCEDC targets specific industries exhibiting healthy growth and strength in the region. These industries include metal fabrication and manufacturing, computer equipment, building construction materials, plastics and recyclables, back office/call centers, agricultural processing, and value-added lumber and wood products,” Fleming says. Adding to the attraction for existing and new businesses is the assistance provided by colleges and universities in the region who have developed specific curricula and customized training programs in partnership with new and expanding businesses, Fleming points out. “No cost, customized recruitment and screening services help businesses sort through job candidates to locate the Central California John Fleming Chairman tax credits, and in obtaining g ove r n m e n t c o n t r a c t s among other benefits,” Fleming explains. Other regional incentives include an extensive railroad infrastructure that parallels the major transportation corridors and connects all of the targeted counties to all major western markets; and low cost for land and facilities that are being touted along with state and local incentives and speedy permit processing, Fleming notes. UpState California EDC Central California, which includes Fresno, Kern, Kings, Madera, Merced, San Joaquin, Stanislaus and Tulare counties, is an ideal place for businesses to be based, according to Jennifer Faughn, director of the Central California Economic Development Corp. of Bakersfield. She says, “industries and commercial businesses are finding Central California is ideal for expansion,” and this expansion is supported by a population that has grown four to five percent for the past few years.” 58 EXECUTIVE DECISION I execdecision.com http://execdecision.com

Table of Contents Feed for the Digital Edition of Executive Decision - March/April 2008

Executive Decision - March/April 2008 Contents Index of Advertisers Contributing Editors From the Editor's Desk Publisher's Note You Be the Judge - Unionization Thought Leader - Pitney Bowes Management - Flying High for Long-Term Results Strategies - Sovereign Wealth Funds Cover Story - In Whom Do We Trust? The Movement for Greater Accountability & Disclosure Finance/Legal - The New Boycott Model Green At Work - Transforming for Sustainability Technology - Embracing Risk Leadership - Executive Reputation Management The Global Village - China Moves to Curb Prices Economic Profile - California Gold Rush Transformations - I Can See Clearly Now, The Brain Is Gone Marketing - Effectively Using Market Research The Bottom Line - Brands: A Shrinking Advantage or Shifting Advantage? Pulse - Pandemic: Not If But When SPECIAL SECTION - Living On the Green: Luxury Golf Destinations

Executive Decision - March/April 2008

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