In what can temptingly be referred to as the “Tony and Arnold Show,” Governor Arnold Schwarzenegger and Mayor of Los Angeles, Antonio Villaraigosa, applauded earlier this week the re-affirmation of the East Los Angeles Enterprise Zone and the implementation of the three-year tax holiday for new businesses established in Los Angeles, both outcomes of the newly refocused Office of Economic and Business Policy.
Governor Schwarzenegger delivering remarks at the announcement of the Business Tax Holiday proposal. From left to right: Baxter BioScience Business Corporate Vice President and Baxter International President Joy A. Amundson, Los Angeles First Deputy Mayor and Chief Executive for Economic and Business Policy Austin Beutner, Governor Arnold Schwarzenegger, Los Angeles Mayor Antonio Villaraigosa and Los Angeles Councilmember Tom LaBonge. Photo Courtesy Peter Grigsby.
A healthy example of this public-private partnership is Baxter BioScience, a 50-year resident in the Mayor’s native neighborhood of East Los Angeles.
Deadlines Not Headlines
The Mayor stated that the newly refocused L.A. Office of Economic and Business Policy has a new mantra, “…And that mantra is ‘Deadlines, not headlines.’ Our enterprise zones…We’ve gained the remarkable distinction of having the most acreage in the state with enterprise zone designation.