Business Incentives and Tax IssuesCity of LA Business TaxPublic Policy Action

LAEDC Urges Phased Elimination of Gross Receipts Business Tax

By February 28, 2013 No Comments

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February 28, 2013                                                                                                   

The Los Angeles County Economic Development Corporation (LAEDC) President and Chief Executive Officer Bill Allen submits the following statement into record regarding Subject One (File No. 09-1914-S6 ) on the agenda at the City of Los Angeles Ad-hoc Business Tax Reform Committee Special Meeting on March 1, 2013:

“The Los Angeles County Economic Development Corporation (LAEDC), an organization dedicated to promoting job growth, economic expansion and preserving the overall global competitiveness of Los Angeles County, urges the City of Los Angeles to proceed with the phased elimination of the City’s gross receipts business tax, which continues to be a major disincentive for businesses starting up in, relocating to or staying in the City of Los Angeles.  The LAEDC strongly believes that phasing-out the City’s burdensome and inequitable gross receipts business tax in a prudent, responsible way will help attract, grow and retain companies within the City of Los Angeles and, in doing so, help reverse the wholly unsustainable and very worrying trend of having added more than 800,000 people, but losing more than 160,000 net jobs in the City of Los Angeles since 1980. At the LAEDC, we firmly believe that strong, healthy communities begin with good jobs. And so, we – as public stewards – must all work together to take bold and courageous actions like this that will create and retain jobs, strengthen and modernize the City’s economy, and care for and improve the overall quality of life for all our residents.”

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