Enterprise Zone Incentive Program »
State and Local Enterprise Zone Hiring Incentives are currently the most powerful set of economic incentives available to local manufacturers in San Francisco. For companies with qualified employees, the benefits are significant:
• Up to $37,500 in State tax credits, that can be carried forward for up to 15 years;
• Local payroll tax credits of up to 100% per employee;
• And with proper documentation, returns can be amended up to 4 years back if necessary.
As the vast majority of San Francisco manufacturers are located in the Enterprise Zone – which comprised most of the City’s industrially zoned areas, including SOMA, the Mission, Potrero and the Central Waterfront, and the Bayview – and the kinds of people typically employed in hourly manufacturing jobs are exactly the targets of the EZ hiring program – most SFMade companies will qualify one or more existing workers. Some local manufacturers have realized over $500K in credits!
The bottom line: Filing for your EZ credits is potentially one of the most powerful ways to inject significant capital into your business!
SFMade’s Enterprise Zone Hiring Credit Filing Service
There are many specialty tax incentive firms who will collect the required information from each of your employees and file your credits for you, generally for a portion of your generated credits (as high as 30%). While effective, this pricing is expensive and many of these firms will not work with smaller companies or companies that are not currently profitable.
There is a better way. As a non-profit specialized in the manufacturing sector, SFMade staff is available to come to you place of business; interview your eligible employees, collect the required data; and file you your EZ hiring vouchers with the City and State. SFMade works directly with the Office of Economic and Workforce Development to expedite voucher applications. We will even bring on-site translation services for your non-English speaking workforce. All for a simple, below market rate: $195 for each qualified employee.This represents a savings, on average, of thousands of dollars compared to a market-rate service.
To learn more please contact: Ferron Salniker at ferron@sfmade.org or 415.408.5605 ext 3