|"Outreach from the Mayor’s office and Council office made it clear that they not only wanted our business in Los Angeles, but they would work with us in any way possible to make this transition happen. Both their approach and the business incentives were powerful contributing factors in our decision." --Rob Jernigan, Principal and Managing Director of Gensler’s LA Office|
In the past year, companies including BYD, Google, Gensler, Lucky Brand Jeans, Mission Foods International, Blackline Systems Software and Target Inc. have taken advantage of the City’s competitive business policies and moved to the City of Los Angeles.
Are you considering relocating your business or starting a new business? The following financial incentives are just a few of the reasons to start or locate your business in Los Angeles, Where the World Creates and Innovates.
Business Tax Holiday - Pay no gross receipts tax for three years
Developed by the Mayor's Office of Economic and Workforce Development, the Business Tax Holiday exempts any new business from the City of Los Angeles’s gross receipts tax for three years when you open or locate in Los Angeles.
What businesses are eligible?:
Companies That Have Taken Advantage of LA's Financial Incentives
Gensler, a global architecture, planning, and design firm behind such LA landmarks as the new 55-story Ritz-Carlton Hotel & Residences and J.W. Marriott at L.A. LIVE and the proposed Farmer's Field NFL Stadium, has announced its relocation to Downtown Los Angeles after 20 years in Santa Monica. As a result of their relocation, Gensler will receive the benefits of the Business Tax Holiday and the State Enterprise Zone. Gensler will build an iconic office in a space known as the "jewel box," a three story building that sits between the twin 52-story towers at City National Plaza. (Read More)
“Outreach from the Mayor’s office and Council office made it clear that they not only wanted our business in Los Angeles, but they would work with us in any way possible to make this transition happen. Both their approach and the business incentives were powerful contributing factors in our decision.”
--Rob Jernigan, Principal and Managing Director of Gensler’s LA Office
BlackLine Systems Software is the first and most experienced provider of enterprise software designed to automate and control the entire financial close process. After the Mayor's Office of Economic and Workforce Development helped expand the State Enterprise Zone in the San Fernando Valley, Blackline announced it would be moving to the LA's Woodland Hills neighborhood. Thanks to the Hiring Tax Credits offered in the State Enterprise Zone, the fast-growing company plans to hire 40 new employees in Los Angeles. (Read More)
"The City of LA has been very helpful and knowledgeable in terms of identifying and explaining how to best leverage the economic incentives and programs the City has to offer."
-- Mario Spanicciati, executive vice president of operations of BlackLine Systems Software
Mission Foods is a subsidiary of Mexican-owned Gruma corporation, one of the world's leading tortilla and corn masa flour producers. Thanks to LA's competitive business policies and financial incentives, including State Enterprise Zone Incentives, Mission Foods opened a state-of-the-art facility in the San Fernando Valley which will employ 400 people. (Read More)
"We are so grateful for the Mayor, First Deputy Mayor Beutner and their team for their assistance throughout this entire process. Their support helps businesses like Mission Foods strengthen the community and improve economic vitality."
-- Juan Fernando Roche, President of Gruma Corporation Baxter International, Inc. is a global employer in the healthcare industry with more than 49,000 workers world-wide. The company's BioScience division employs 600 people in Los Angeles and has been in the city since 1953. The Mayor's Office of Economic and Business Policy was instrumental in expanding the East Los Angeles State Enterprise Zone, a change which led directly to Baxter Board of Directors’ approval for a $400 million expansion of their Los Angeles plant. (Read More)
"We would like to thank First Deputy Mayor Austin Beutner and his OEBP team for their support in reaching out to the State of California to expand the East Los Angeles State Enterprise Zone (SEZ)."
-- Joy Amundson, corporate vice president and president of Baxter BioScience
Click here for more information about potential incentives in Los Angeles and to download the 2011 Funding Resource and Business Incentive Manual.