Governor's Economic Development Initiative
Governor Jerry Brown and the State Legislature created three new incentive programs, two of which are applicable to Tustin Legacy.
- Sales and Use Tax Exemption
- A sales tax exemption of 4.19% is available for basic manufacturing equipment. Tenant improvements for manufacturing or research & development may also be eligible. For more information, click here.
- New Employment Credit
- Businesses may receive a credit equaling 35 percent of the qualified wages paid for each qualified full-time employee hired, beginning January 1, 2014, through January 1, 2021. Conditions for qualifying are as follows:
- Business is located within Tustin Legacy, the former LAMBRA
- Businesses must request a Tentative Credit Reservation (TCR) from the Franchise Tax Board within 30 days of complying with the EDD new hire reporting requirement
- Employees must work a minimum of 35 hours per week, be hired on or after January 1 2014, earn a starting wage that exceeds $13.50 per hour (150% of the State minimum wage of $9.00 per hour) but no more than $31.50 per hour (350% of the State minimum wage), and be eligible under program guidelines
For more information, click here.