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March 23rd, 2009 by Temple City Tribune
In the face of an economic recession, Monrovia officials are looking to establish an Enterprise Zone in a tenacious effort to retract from the recent—and notably rapid—decrease in sales tax income. Monrovia has spent the past thirty years forming an aggressive program for development, and has subsequently been recognized for its booming businesses. But clearly, the year 2009 bears with it an unrivaled sense of competition (pun intended) in that cities from far and wide will face the fiscal horror that is a down turning market.
Enterprise Zones bolster economic growth by offering tax advantages and other incentives to businesses located within the zone. Pasadena’s city spokeswoman, Ann Erdman, spoke of the city’s Enterprise Zone. She said, “It’s really helped us to bring in businesses to Pasadena and retain businesses here.” And when urban regions like Pasadena compete with suburban regions like Monrovia, one can assume which reigns supreme. Monrovia City Manager Scott Ochoa said, “This designation can really help [us] compete with other cities [which] are able to entice businesses out of Monrovia.” So when the state has four accessible zones out of its 42 total, as is so until the application period comes to a close in late March, Monrovia is not the alone in hoping to obtain one; the California Department of Housing and Community Development will receive roughly 10 to 12 applications.
By Emily Litvack