AV to vote on applying for state Enterprise Zone status

(Source: Daily Press) APPLE VALLEY • Town Council members will decide Yuesday night whether the town should join Adelanto, Victorville and San Bernardino County to create a Victor Valley Enterprise Zone. The zone would provide a number of benefits to businesses, most notably a $34,000 tax credit for each newly created job within its boundaries. Other benefits to business could include streamlining the development process, encouraging economic growth and assisting in the startup costs of companies that move into the enterprise zone. The enterprise zone designation would also include a foreign investment program that has drawn the attention of federal authorities in neighboring Victorville. The EB-5 financing program is a federal program that makes visas available to foreigners who invest $500,000 in a regional center that creates 10 new jobs. Apple Valley’s Economic Development and Housing Division is pushing the resolution. If passed by the Town Council, it would authorize Apple Valley staff to apply for Enterprise Zone Status along with Victorville, Adelanto and San Bernardino County. To apply for an EB-5 regional center designation with USCIS, please contact us.